Word: colombia
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...just before sunrise on a recent summer morning high in the Boyaca mountains of central Colombia. Already the steep terrain was bustling with prospectors called guaqueros, or treasure hunters. They were seeking their fortunes in the Cosquez cut, a mountainside excavation rich with dazzling gems -- emeralds...
Like cocaine, quality emeralds are big and dangerous business in Colombia. The country produces no less than 90% of the world's supply of the precious green stones. Just as plentiful is the bloodshed caused by territorial fights among rival clans of guaqueros. Unlike the diamond-mining industry, which is tightly controlled by the South African cartel, De Beers Consolidated Mines, the Colombian emerald business is wide open. Though the government grants mining rights to production companies and nominally regulates the industry, the vast majority of emeralds are brought to market by independent, unregulated guaqueros. "There are no economic laws...
...stakes are growing larger all the time. In the past two years strong consumer demand has helped push up world emerald prices by almost 30%. A polished, top-grade deep green stone weighing one carat now typically costs $5,000 on the retail market. Colombia exports an estimated $40 million worth of emeralds annually, but that does not account for all the gems that are illegally smuggled out of the country. Both the mining companies and the government lose millions of dollars in revenue because of the unauthorized activities of the guaqueros...
...deaths occurred at a mine one year in the early 1970s, the authorities had to shut it down. In 1977 the government decided to grant short-term leases to several private mining companies. That strategy, however, has had little success. The government-sanctioned companies produce only about 20% of Colombia's emerald exports. Guaqueros and smugglers account for the rest...
...invasion of Grenada. He said Cuba has steadily acquired U.S. technology, in violation of the American trade ban, through Panamanian Strongman Manuel Antonio Noriega, who reaped millions from the transactions. Noriega, he said, helped Cuba send arms to Nicaragua and to rebel groups in El Salvador, Honduras and Colombia...