Hidden Secrets of Mining

JcollinsEconomics, Premium POM

Fraud and Falsification of Resources and Deposits

The movie Gold starring Matthew McConaughey is based upon the real-life tale of Bre-X, the gold mining company based in Calgary, Alberta, who fooled banks, investors, and other miners into believing that they had found the largest gold deposit in the world. One of the geologists of the company, along with others presumably, worked together to “salt” core samples with actual gold with the intent to create the impression that the Indonesian gold deposit was the prospecting find of the century.

Some of you would have heard of Bre-X and the subsequent fallout which took place. Though the movie doesn’t follow the real world events, it does give the basic outline and premise of the fraud which was committed.

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