Illegal Gold or Cocaine? Which is More Profitable in Colombia?

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Issue Sep 24-30 2025: It has become commonplace to hear that illegally-sourced gold has replaced cocaine as Colombia’s illicit money-maker of choice. Highly-placed government officials, NGOs, journalists, and even Colombian President Gustavo Petro himself have made this claim, which, despite being repeated over and over again in the country’s media, has yet to be held up to proper scrutiny.

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