Silver Rises Over 120% YTD 
Gold prices hitting record highs above $3,300 per ounce have intensified conflicts between corporate mining operations and illegal “wildcat” miners across West Africa. Major companies like Gold Fields, Newmont, and AngloGold Ashanti are deploying drones and seeking military protection as confrontations turn deadly—nearly 20 illicit miners have been killed since late 2024.
The illegal mining sector supports 10 million people in sub-Saharan Africa, with 3-5 million in West Africa alone, accounting for 30% of the region’s gold production. Many locals turned to wildcat mining after corporate operations displaced communities without fulfilling job promises. However, sophisticated criminal networks, including foreign-funded operations, now dominate much of the illegal activity.
Mining companies spend heavily on security measures while governments struggle to control porous borders and gold smuggling. Ghana is pioneering AI-powered surveillance with 28 drones and remote excavator controls, though the effectiveness remains uncertain as gold prices continue climbing.
