The Fort Worth Press - Venezuela's El Dorado, where gold is currency of the poor

USD -
AED 3.6725
AFN 64.497463
ALL 80.927638
AMD 360.25116
ANG 1.789785
AOA 916.999933
ARS 1523.408897
AUD 1.42367
AWG 1.8025
AZN 1.697874
BAM 1.743153
BBD 2.009733
BDT 123.405734
BGN 1.747831
BHD 0.376563
BIF 2990.864935
BMD 1
BND 1.275344
BOB 11.749607
BRL 4.977401
BSD 0.99787
BTN 94.679988
BWP 13.746112
BYN 2.929884
BYR 19600
BZD 2.006792
CAD 1.40144
CDF 2316.000448
CHF 0.8243
CLF 0.025136
CLP 992.520334
CNY 6.67805
CNH 6.668145
COP 3160.53
CRC 455.351652
CUC 1
CUP 23.947629
CVE 98.275839
CZK 21.711797
DJF 177.684293
DKK 6.664135
DOP 61.203754
DZD 134.139342
EGP 55.5007
ERN 15
ETB 162.300644
EUR 0.891598
FJD 2.237199
FKP 0.747708
GBP 0.747925
GEL 2.590254
GGP 0.747708
GHS 11.56957
GIP 0.747708
GMD 73.999969
GNF 8830.266031
GTQ 7.627485
GYD 208.984889
HKD 7.84424
HNL 26.789009
HRK 6.716898
HTG 130.769574
HUF 327.075495
IDR 18121
ILS 3.11755
IMP 0.747708
INR 95.135404
IQD 1512.669453
IRR 1832375.000369
ISK 121.609805
JEP 0.747708
JMD 158.361483
JOD 0.708989
JPY 157.0915
KES 129.880336
KGS 87.448603
KHR 4076.467181
KMF 439.502755
KPW 899.999961
KRW 1323.310269
KWD 0.31069
KYD 0.831558
KZT 453.052166
LAK 22453.75425
LBP 89355.252721
LKR 331.329462
LRD 170.126293
LSL 16.531803
LTL 2.95274
LVL 0.60489
LYD 6.390431
MAD 9.801113
MDL 18.010775
MGA 4512.517937
MKD 54.906662
MMK 2099.851486
MNT 3598.994658
MOP 8.061391
MRU 39.878252
MUR 47.139877
MVR 15.459805
MWK 1730.229325
MXN 18.719965
MYR 4.084028
MZN 63.897889
NAD 16.531876
NGN 1346.46017
NIO 36.718506
NOK 9.32605
NPR 151.487981
NZD 1.75498
OMR 0.38241
PAB 0.997776
PEN 3.426858
PGK 4.468607
PHP 63.89499
PKR 276.123227
PLN 3.926695
PYG 5770.996176
QAR 3.637271
RON 4.767802
RSD 104.724641
RUB 81.526027
RWF 1474.255564
SAR 3.744837
SBD 8.07458
SCR 14.037053
SDG 601.500123
SEK 9.930199
SGD 1.27876
SHP 0.7473
SLE 22.950164
SLL 20969.504398
SOS 570.236811
SRD 37.628019
STD 20697.981008
STN 21.835034
SVC 8.730916
SYP 13001.999685
SZL 16.531342
THB 33.780292
TJS 9.195002
TMT 3.51
TND 2.979603
TOP 2.40776
TRY 49.762203
TTD 6.779918
TWD 32.578505
TZS 2644.982997
UAH 45.173665
UGX 4395.741514
UYU 40.018004
UZS 11941.282899
VES 879.788896
VND 25855.5
VUV 118.791596
WST 2.767791
XAF 584.849913
XAG 0.018501
XAU 0.000249393973
XCD 2.70255
XCG 1.798323
XDR 0.707052
XOF 584.849913
XPF 106.293282
YER 236.09911
ZAR 16.625745
ZMK 9001.201353
ZMW 20.061676
ZWL 321.999592
SSP 5745.299755
MXV 2.112001
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

Venezuela's El Dorado, where gold is currency of the poor
Venezuela's El Dorado, where gold is currency of the poor / Photo: © AFP

Venezuela's El Dorado, where gold is currency of the poor

In the Venezuelan mining community of El Dorado, the majority of residents carry around gold instead of cards or cash to pay for groceries.

Text size:

They live in a town named after the mythical City of Gold and untold riches -- but most of them are poor.

Merchants use scales to carefully weigh the flecks people guard in plastic pill bottles or wrapped in pieces of paper, and market goods are priced in weight of gold.

For 0.02 grams, you can get a small packet of maize meal, for one gram a pre-packaged bag of groceries that includes flour, pasta, oil, margarine, ketchup and milk powder.

A gram of gold can purchase between $85 and $100 worth of goods, but takes hours of back-breaking work to amass. If you're in luck.

"Gold is a blessing given to us so we can buy what we want, but you have to work hard," 48-year-old Jose Tobias Tranquini told AFP in the town of 5,000 residents mostly employed in mining -- legal and illegal.

"One day at the mine you might find nothing; there are lucky people who have gotten up to a kilo (2.2 pounds), but... I haven't had that kind of blessing. I've only gotten a little bit," said Tranquini.

El Dorado's residents have limited access to banking services.

They could sell their gold at one of the dozens of dealers that dot the streets, but most prefer not to. Gold -- unlike the battered Venezuelan currency that has lost 50 percent of its value this year -- does not depreciate.

- No gold, no life -

El Dorado arose as a military fort as Britain and Venezuela squared off in 1895 over the mineral- and oil-rich region of Essequibo now at the center of an increasingly heated territorial dispute with Guyana, which has administered it for decades.

The oldest inhabitants of the town remember that when it rained, particles of gold emerged from the town's clay streets.

Nowadays, the streets are tarred, though potholed, and the population rely for transport mainly on motorcycles that zoom noisily to and fro.

Hilda Carrero, a 73-year-old merchant, arrived in Eldorado 50 years go in the midst of a gold rush. The town, she recalls, was just "jungle and snakes... It was ugly."

Carrero sells cans of water for 0.03 grams of gold apiece -- about $1.50 -- but business, like mining hauls, is erratic. Some days she sells nothing.

"If I don't have gold I have no life," Carrero sighed.

It can be hard to make a living in a place where abundant reserves of gold, diamonds, iron, bauxite, quartz and coltan have attracted organized crime and guerrilla groups that mine illegally, and sow violence.

Extortion of small business owners is rife, and 217 people were killed in the four years to 2020 in clashes between rival criminal gangs.

Environmentalists also denounce an "ecocide" in the heavily-exploited area, and mine collapses have claimed dozens of lives.

- Hazardous work -

Around El Dorado, there are numerous camps processing the gold-laden sand that miners dig up daily.

In tall sheds with zinc roofs, mountains of sand are milled in machines that work with modified car engines, then washed in water and toxic mercury to separate the gold from other metals.

Tiny particles almost imperceptible to the naked eye are trapped in a green mat which is shaken out to collect them.

The granules are finally heated with a blowtorch to remove impurities before the gold can be traded or sold.

It is hard work, and hazardous.

"The danger of this is the smoke" produced by the mercury burning off, a mill owner explained while smoking a cigarette.

A family of five working at a mine visited by AFP spent four hours that day processing a ton of sand.

For their efforts: one gram of gold.

"We'll use it to buy food and whatever is needed at the mill," a worker who asked not to be named told AFP as he cupped a tiny grain of gold in coarse hands.

It was a good day.

S.Jordan--TFWP