Ilan Goldfajn Advocates for Rare Earth Mining to Pope Leo XIV Amid Vatican Divestment Campaign
Ilan Goldfajn, head of the Inter-American Development Bank, met Pope Leo XIV to discuss rare earth mining's potential for Latin America, despite the Vatican's call for divestment from the mining sector. Goldfajn emphasized the need for local value addition and safeguards in mining operations to avoid historical mistakes.
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Ilan Goldfajn of the Inter-American Development Bank met with Pope Leo XIV to advocate for rare earth mining in Latin America, aiming to highlight its benefits amid the Vatican's divestment stance. He stated that the region has a $4 billion pipeline of critical mineral projects, primarily in Chile, Argentina, and Brazil, with a focus on adherence to environmental and labor standards.
The Vatican has historically opposed multinational mining due to its adverse effects on Indigenous communities. Goldfajn's engagement reflects a recognition of the pope's influence in shaping local attitudes toward mining. The potential environmental risks associated with rare earth processing remain a concern, necessitating stringent monitoring and regulatory oversight.
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