Reports from the field
Colombia
Rural and isolated artisanal gold mining communities such as Choco, Colombia are almost entirely economically dependent on gold. Due to the COVID-19 pandemic, the ability of artisanal miners to sell their gold for cash has significantly reduced and there are growing concerns that miners will be left with gold but no money to buy daily essentials such as food. Read more at:
Artisanal gold mining communities are on the verge of a crisis – The view from Choco, Colombia
Burkina Faso
Following the re-opening of artisanal gold mining sites in Burkina Faso on May 4, 2020, field gold prices which had fallen as low as 54% of the spot price increased up to approximately 82% by May 6, 2020. However, as of May 20, 2020, prices steadily remained low around 80% of the spot price.
Burkina Faso price update – Field prices remain steady at 82% of spot, 12% below pre-Covid
As ASM sites in Burkina Faso began operations after COVID-19 restrictions were lifted on May 4, 2020, miners are receiving up to 83.8% of the spot price for their gold. Even though it is a 10% decrease from the pre-COVID price of 94%, it is better than 55% of the spot price which miners received immediately following the implementation of COVID-19 restrictions. Read more at:
Burkina Faso gold prices inch back towards pre-COVID levels
As artisanal gold mining sites slowly return to operations in Burkina Faso, local gold prices climbed back to 79% of the gold spot price. However, border closures and quarantine restrictions in large cities have slightly increased the prices of daily commodities and created a shortage of mining supplies such as dynamite. Read more at:
Burkina Faso – Gold prices rebound slightly (up to 79% of spot)
Burkina Faso is under a strict lockdown as of April 10, 2020, to help prevent the spread of COVID-19. Local gold prices have fallen approximately 20% due to gold supply chain disruptions and artisanal miners desperate to sell their gold at any price to be able to feed their families. Read more at:
Burkina Faso – Quarantines and gold prices down 20%
Niger
Depending on the purity of the gold produced at various artisanal mining sites in Niger, gold prices vary. For example, it takes a ton of rock to produce 1.5g of gold in mining sites in Tillabery, while in the Agadez region, 150kg of rock can produce between 3g to 11g of gold. Therefore, more people from West Zarma populate the mining sites of Agadez. Read more at:
Update from Niger – new ASGM gold prices
Due to COVID-19 related containment measures, the artisanal gold mining sector in Niger is experiencing a plunge in local gold prices. Rising prices for food and mining supplies have increased the pressure on mining communities. Tailored COVID-19 control responses and more efficient data collection are essential to support a struggling mining sector in Niger. Read more at:
The view from Niger – ASGM needs a tailored response
Mongolia
Mongolian authorities imposed immediate and rapid COVID-19 restrictions as of January 2020, even before there was an active outbreak in Mongolia. Apart from some exceptions during the Lunar new year celebrations and when the first COVID-19 case was reported, mining sites remained operational, partially securing the gold supply chain. However, there are some gender-specific challenges that women miners face during the pandemic. Read more at:
Indonesia
The artisanal gold mining sector in Indonesia remains stable as the country braces for the expected spike in confirmed COVID-19 cases and associated lockdown measures. However, a lack of access to formal buyers and restrictions for miners living outside the villages has reduced gold prices and significantly diminished the workforce. Read more at:
Images from Indonesia – Miners document life in lockdown
Philippines
Women small-scale miners in artisanal gold mining communities in the Philippines are facing various challenges due to enhanced community quarantine that was implemented as a result of COVID-19. Improving access to health care, providing alternative income sources, relief assistance, and promoting gender awareness may help support women miners during the pandemic. Read more at:
Women and COVID-19 in an artisanal gold mining community: Gender impacts in the Philippines
Artisanal gold mining communities in the Philippines are heavily impacted by the enhanced community quarantine measures imposed by the government, to prevent the spread of COVID-19. As of April 8, 2020, the price of 1g of 24-karat gold traded between $32 to $50, which is approximately 16% lower than the local price prior to the implementation of COVID-19 restrictions. Read more at:
Philippines: the Artisanal Mining Sector during the COVID-19 pandemic
Papua New Guinea
Papua New Guinea was hit by COVID-19 in late March 2020. However, the country’s fragile and already overburdened healthcare system will likely not be able to handle a rapid COVID-19 outbreak efficiently. In addition, COVID-19 related restrictions have resulted in a drop in local gold prices. Read more at:
Papua New Guinea – Gold trading in a time of the lockdown
News from major gold trading hubs such as Dubai, Switzerland, and India
The world’s major gold trading hubs are open as of May 14, 2020, with restricted access. These gold trading hubs were closed due to a combination of domestic lockdown measures, restrictions on air traffic and border entry, and the closure of gold refineries and trading areas. Read more at:
AGC’s gold trading hubs turn all Yellow
The United Arab Emirates relaxed its COVID-19 lockdown measures as of April 24, 2020. Dubai gold souk, one of the most active gold markets in the world remains open but empty, despite the easing of the lockdown. Read more at:
Dubai lockdown lifts, souk still empty
Following the easing of COVID-19 lockdowns, Dubai shopping malls, markets, and commercial outlets will be open for restricted hours. The Dubai gold souk remains closed and with air traffic at a halt, gold trading in Dubai has stopped. Read more at:
Update from Dubai – Malls and some shops open. Gold souk still closed. Flights still grounded
As of April 25, 2020, India extended its nationwide lockdown to May 3, 2020. The state government of Maharashtra announced that lockdowns in Mumbai and Pune will most likely continue until mid-May, hence gold trading in India remained closed. Read more at:
Update from India – Lockdown until May 3, rural markets open, dashboard still red
International gold trade has come to a halt due to the current COVID-19 pandemic. Artisanal gold miners are the most vulnerable participants of this gold market disruption. Read more at:
The world’s gold trading hubs and their importance to Artisanal Gold Mining
As Switzerland re-opened the critical gold refineries in the country’s gold refining hub of Tecino on April 6, 2020, one day later Dubai announced a two-week lockdown which will have negative impacts on gold trading. Read more at:
Swiss refineries and Dubai lockdown – One step forward, one step back