Chasing Gold in Cyprus

Cyprus may soon be swept by a gold rush. According to the Sigma TV channel, "aggressive" research conducted by the Canadian corporation Northern Lion Gold Corp at 16 points across the island has confirmed that there are still gold-bearing veins in Cypriot soil.

The Minister of Agriculture and Environment, Dimitris Iliadis, whose department includes the Geological Survey and Mineral Resources, confirmed the interest of the Canadian company, which will be able to extract tons of gold-bearing ore from the depths of the island.

During the peak of mineral extraction in Cyprus, which occurred in the first half of the 20th century, copper always remained the favorite among minerals. It is worth noting that one theory suggests the island got its name from the Latin name for copper - Cuprum.

Gold and silver were less popular. Nevertheless, from 1936 until the cessation of mining activities (which happened in the 1980s), Cyprus exported 4,665 kg of gold and 26,345 kg of silver. The gold deposits were located near the villages of Skouriotissa, Xeros, and Amiandos. The Turkish occupation of part of the island in 1974 contributed to a rapid decline in mining activity. The mines were finally closed in 1982.

According to Kiryakos Luka, a representative of the Canadian corporation, mines will be established in places where samples have shown a high gold content in the ore. Mr. Luka reminded that until 1974, the mining industry's contribution to Cyprus's GDP was 15%. If the reserves of precious metals are sufficient for industrial development, the Cypriot economy will receive an additional boost. People will be needed to work in the mines, which will reduce the unemployment rate.