Europe’s Largest Gold Deposits Remain Buried In Spain

Spain's Gold Reserves Look Set To Remain Underground

Gold. Photo credit: CC/Alliance for Responsible Mining

EUROPE’S largest gold reserves are located in Northern Spain, but it appears that no one dares to touch it.

Gold has played an important role in history and to this day still exerts a strong influence on currencies around the world. Spain has the largest untapped gold reserves in Europe, located in Tapia de Casariego in Asturias, northern Spain, writes OK Diario, Saturday, July 8.

It is estimated that under the Salave lagoons, there could be 30 tonnes of gold, a huge amount that would represent 10 per cent of the gold reserves held by the Bank of Spain. And they have remained untouched for more than 2000 years.

One company, Exploraciones Mineras del Cantábrico (EMC) has applied to exploit the deposit, assuring that there will be no impact on the environment. Although the first few months could be a little tricky, drilling will be ‘minimally invasive.’

A spokesperson for the company said: ‘The project is awaiting environmental assessment and now we have to wait and let the officials work. A completely different project has been presented that has solved the environmental impact problems detected in the past, such as the one affecting the water.’

However, opinion is divided in the village as to whether it is a good idea to extract the gold. It has long been a bone of contention with the association ‘Oro No’ (No Gold) created almost two decades ago by those opposed to the idea.

One ‘Oro No’ spokesperson commented: ‘People live from livestock, fishing and tourism. With the exploitation of the mine, the heavy metals from the mine would affect all these sectors. Not to mention the impact on the landscape, which would reduce tourism by creating a negative perception of the area.’

On the other hand, ‘Idoa’ is in favour of the mine, arguing that it could create many jobs in the area and stimulate the local economy. Its president, Mada Gómez, explained: ‘It is necessary to settle the population and the best way is to generate industry so that young people do not leave to work elsewhere.’

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Written by

John Ensor

Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina. He is passionate about news, music, cycling and animals.


    • DBath

      10 July 2023 • 00:21

      I’m sure that greed will once again prevail.

    Comments are closed.