El Salvador withdraws 'world's first ban on metal mining' through gold veins

El Salvador in Central America, which was named the world's first metal mining ban seven years ago and praised by conservationists, has decided to allow mining to develop gold mines.

El Salvador's parliament said on Monday local time that 57 of its 60 registered legislators approved a government-submitted general law on metal mining.

The 35-point law calls for supporting exploration, extraction, processing, and commercialization of metal mining activities, as well as giving state agencies sole authority in the process.

"The impact of the Act on the Ban on Metal Mining, which took effect in 2017, has greatly limited the possibility of using resources for the people of El Salvador," El Salvador's parliament said in a news release, stressing that "now we are closer to achieving our goals of improving the quality of life for residents, successful economic development and job creation."

As a result, the existing regulation to "ban all metal mining businesses to preserve environmental and natural resources" has been automatically abolished.

El Salvador, where the country is known to have been created mostly by volcanic activity, is rich in mineral resources.

Authorities believe that lithium, which has emerged as a key strategic mineral, as well as cobalt and nickel, are buried.

In particular, the El Salvadoran government explains that the gold vein is crossing the middle of the country.

For this reason, President Naive Bukele strongly criticized the ban on metal mining, calling it a "outrageous policy."

President Bukele, who led the legislation by pushing for the gold mine development policy along with the purchase of Bitcoin, wrote on his X (X, former Twitter) earlier, "According to foreign research agencies, as many as 50 million ounces of gold are estimated to be buried in 4% of the areas with mining potential," adding, "It amounts to $131.5 million (192 trillion won) in current value."

"This is equivalent to 380% of El Salvador's GDP," he said, adding, "We will responsibly use this God-given wealth to give our people unprecedented economic development."

Earlier, environmental activists gathered in front of the National Assembly to protest strongly against the government and the ruling party, raising the possibility of widespread pollution.