A mass engagement in spontaneous gold mining, similar to the “gold rush” in the Klondike at the end of the 19th century, is unlikely today due to increased government control over the subsoil and the need to obtain mining licenses. This was explained to RIA Novosti by Antonina Levashenko, Head of the International Best Practices Analysis Department at the Gaidar Institute.
About 130 years ago, news of the discovery of gold in the Klondike River sparked a massive influx of prospectors. Thousands of people traveled to the region hoping to quickly become rich.
According to Antonina Levashenko, today, the repetition of such a scenario is practically excluded. The state controls land plots and mining licensing, thus, even the discovery of a large deposit does not allow anyone to start mining gold.
“One can hardly expect the same excitement from an accidental massive discovery of gold. Over the past century, control over land and licensing of sites by governments has greatly increased. Today, the discovery of gold does not provide people the opportunity to start mining: this requires appropriate rights and permits. Therefore, the historical scenario, when thousands of people almost independently flocked to the region in search of easy prey, is now unlikely,” noted Antonina Levashenko.
She also provided the following historical data: the Klondike region produced about $28.5 mn of that time between 1897 and 1899, which equates to about 42.9 tons of gold.
Thus, the Klondike phenomenon was associated not only with the wealth of deposits, but also with historical conditions, when access to territories and natural resources was much less regulated. Today, a major discovery is more likely to become an object of licensing and industrial development than a reason for a spontaneous “gold rush.”