Trafficking of gold on the global black market in Peru leads up to $560 Million in losses each year.
In South Africa, Peru and the Democratic Republic of Congo, illegal gold trafficking creates a yearly loss of $2.3 Billion a year, according to a report by Global Financial Integrity.
Half of the global supply of heavy rare earth minerals are produced and distributed from illegal mining operations in Southern China. The minerals are used in a wide range of technology products such as the iPhone and Flat Screen televisions.
From the start of the Kimberly Process in 2002, the estimated rate of illicit diamonds smuggled onto the world’s market has dropped from 15 percent to less than 1 percent in 2010.
Up to $1.24 Billion in illicit gold and other precious minerals is trafficked out of the Democratic Republic of Congo each year.
Black market diamonds consist of 15 to 20 percent of the diamond market in Sierra Leone.
Black market trafficking of diamonds in 2010 consisted of 1 percent of the global diamond market.
40 tons of gold worth $1.24 Billion was smuggled out of the Democratic Republic of Congo in 2009.
Illegal miners in Kenya are living in poverty and are selling gems on the black market in order to eat, reports the BBC. According to the report, the miners are selling stolen gems dug up from mines to traders for $2. The gems then go on to the world markets where they are sold for up to $1,000.
The black market diamond smuggling in Zimbabwe could generate $200 Million a month for the country if it was properly regulated and taken out of the hands of the army, according to Human Rights Watch.