As reported by South African finance portal Fin24, the Colombian government has expressed its concern over illegal gold mining, saying it is posing a major threat to the country’s security and economic growth.

Colombia is known for its gold reserves that lure huge investments from different parts of the globe, Fin24 notes, saying that the current crisis could very well hurt the country’s future investment prospects and cramp economic growth. According to Mines and Energy Minister Mauricio Cardenas, the implications of gold falling in the wrong hands can be very damaging to the country’s sovereignty as this can fund terrorist outfits.

The government is not sitting idle and will deal with the matter swiftly and sternly, warns the Mines and Energy Minister, pinpointing the banned guerrilla organisations as being the miscreants. Vice President Angelino Garzón says guerrilla outfits are trying to draw from the gold resources to build a strong and well financed manpower network.

There are too many intimidating threats, a former security official tells the South African news channel, explaining that a financially bolstered terrorist group can have better arms and weapons to carry out attacks against civilian and military establishments and also to extort the public. Echoing his concerns, the Mines and Energy Minister says the authorities cannot “let this problem grow” and drive investment away from the country.

On the basis of information provided by the finance ministry, Fin24 notes that foreign direct investment is expected to reach a record high of £7.5bn this financial year. Batista’s AUX Canada Acquisition and AngloGold Ashanti have set eyes on the two highly productive gold mines in Colombia.