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    gold investing

    Almost 20 Percent of Mongolia’s Rural Workforce Made Up By Unlicensed Miners

    Teresa Matich
    Jan. 30, 2015 10:26AM PST
    Precious Metals

    A recent article from Wired looked at the world of amateur “ninja” mining in Mongolia. According to the publication, almost 100,000 Mongolians, or about 20 percent of the rural workforce, work in the industry.

    A recent article from Wired looked at the world of amateur “ninja” mining in Mongolia. According to the publication, almost 100,000 Mongolians, or about 20 percent of the rural workforce, work in the industry.

    As quoted in the publication:

    The county is rich in natural resources—stunning scenery, yes, but also vast deposits of coal, copper, gold, and other metals. Over the years, industrial mining has punched gaping holes into the landscape, then moved on after taking all it could. Then the locals scour the open pits, taking what the corporations left behind and creating an informal but dangerous industry.

    The term “ninja” refers to the large green pans (used to carry ore and sift gold) the miners carry on their backs, which makes them look like the Teenage Mutant Ninja Turtles. It is a difficult way of life; these miners descend into shafts with little structural support and endure bitter cold or searing heat deep underground. There is little in the way of safety equipment or oversight as they chip away at the earth using rudimentary tools.

    Click here to read the full Wired article.

    industrial mininggold investing
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