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2 clusters · 2 sources · 19 days · First seen · Last updated

Copper smuggling in Trinidad and Tobago and Venezuela

Overview

Following an export ban in Trinidad and Tobago intended to prevent the theft and vandalism of critical infrastructure, a black market for copper has expanded between Trinidad and Tobago and Venezuela. The ban, scheduled to remain in effect until July 2027, caused local scrap prices to drop from approximately $6,000 per ton to $2,650 per ton.

This economic shift has incentivized smuggling operations. Vessels reportedly depart from Erin beach at midnight, utilizing lookouts to monitor Trinidad and Tobago Coast Guard patrol intervals to avoid detection. The illegal trade is driven by buyers in Venezuela who are willing to pay higher prices than local buyers in Trinidad and Tobago.

Entities

Venezuela · Trinidad and Tobago · Demerara River Bridge · Trinidad and Tobago Scrap Dealers Association · Ministry of Tourism, Industry and Commerce

Timeline

  1. 10 days ago

    [CRIME] 2 sources
    Guyana Ministry warns of scrap-metal trade shutdown after copper theft

    Guyana's Ministry of Tourism, Industry and Commerce is cracking down on the scrap-metal trade following the theft of $1.6 million in copper from the Demerara River Bridge.

  2. 28 days ago

    [CRIME] 3 sources
    Copper smuggling rises between Trinidad and Tobago and Venezuela

    An export ban on copper in Trinidad and Tobago has fueled a black market, with smugglers transporting metal to Venezuela to avoid plummeting local prices.

Sources

kaieteurnewsonline.com · ncnguyana.com