May 30, 2023
Investigation suspects tech giants are illegally buying gold

Investigation suspects tech giants are illegally buying gold

The investigation is suspected of illegally buying gold by technology giants. Read more about what the Federal Police have to say about the case

Estimated reading time: 3 Minutes

The Federal Police recently opened an investigation into the illegal gold purchase in Brazil. Google, Amazon, Apple and Microsoft are involved in this procedure. According to the information published, there is a suspicion that an Italian refiner illegally bought gold in the Amazon rainforest, and supplied this item to the aforementioned technology companies. So, to learn more about the issue, check out below.

Tech giants are investigating the use of illegal gold

Thus, according to the records of the four companies, gold was purchased directly from the Italian private company Chimet. The purchase could have occurred because these technology companies tend to use small amounts of metal in circuit boards.

According to the Federal Police, the accusation is that Chimet was to buy millions of dollars in gold from CHM do Brasil. On the other hand, it was assumed that the Brazilian company had illegally acquired the mineral by prospectors. CHM, in its defense of the charges, stated that all of the gold in it is obtained legally, including notarization.

However, Chimet already said in a statement that it cut ties with CHM after learning of the allegations. This happened in October last year. At that time, the Federal Police carried out several operations in 9 different states, as well as the Federal District.

Finally, according to research by the Escolhas Institute, Brazil produced 84 tons of illegal gold between 2019 and 2020. This represents a 23% increase compared to 2017 and 2018. This amount is also equivalent to about half of Brazil’s total production.

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Photo: Louis Tse /