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Economy

Mountain Of Silver? Mining Firm Says It's Hit Next Great Motherlode Of Bolivia

Centuries after Potosí, Bolivia’s legendary but now dried-up silver reserve, the small South American country may have struck a new enormous source of precious metal wealth. But locals may stand in the way.

Mining for other metals still takes place Potosí (Olmo Calvo)
Mining for other metals still takes place Potosí (Olmo Calvo)

POTOSí - In 1670, only two cities in the world had more inhabitants than Bolivia's Potosí: Paris and London. The Andean city had twice as many people as Madrid, whose population was about 100,000 at the time, about 50,000 more residents than Lisbon, and was roughly on par with Amsterdam, the center of the then nascent global capitalism.

What was the secret of Potosí"s success? Silver – quite literally a mountain of it. Legend has it that when family meals were over, locals would throw the silverware out the window rather than bother washing it. Eventually, however, the silver ran out. Poverty settled in. It was a textbook example of an enclave economy.

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Ukrainian protestors stand at Brandenburg Gate in Berlin to mark Vyshyvanka Day, an International day to celebrate Ukrainian heritage and traditions

Lisa Berdet, Lila Paulou and Bertrand Hauger.

👋 Guten Tag!*

Welcome to Friday, where Russia intensifies shelling in eastern Ukraine, Biden lands in South Korea, and a Mercedes becomes the most expensive car ever sold. Meanwhile, for German daily die Welt, Cosima Lutz explores the sizzling question of the skyrocketing price of cooking oils.

[*German]

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