13 August 2024
A recent study by Instituto Escolhas reveals that Germany and Italy are importing significant amounts of Brazilian gold from Amazon regions known for illegal mining. All of Germany’s 1.3 tonnes and 71% of Italy’s 356 kg of Brazilian gold imports in 2023 came from areas with rampant illegal mining activities. The report highlights the need for increased European scrutiny, as current due diligence processes have significant blind spots. Despite EU regulations, about 94% of Brazilian gold imported by these countries has dubious origins, often passing through multiple intermediaries from numerous Amazon gold prospects.