In ancient times, Sifnos was famous for its mines of gold and silver. Although the soil of Sifnos also has schist, marble, copper, and iron, the gold and silver mines were the richest in stock. Evidence suggests that the first mining activities for the extraction of silver took place on the peninsula of Agios Sostis around the 3rd century BC. These mines had given prosperity to the island and led to its cultural and economic development. They also attracted many invaders who sought to reap the benefits of these valuable minerals by conquering the island.
The mining activity of Sifnos is mentioned in the writings of Herodotus and Pausanias. To thank the gods for this source of prosperity, the locals used to send valuable offerings to the Oracle of Delphi every year. These offerings were kept in the Treasury of the Sifnians, which can be seen even today at the site of Delphi. According to a myth, one year the islanders omitted to send their offerings, and as a punishment, the god Apollo flooded the mines.
Today, there are two main mineral-bearing zones on Sifnos. One can be found in the northern part of the island, stretching from the northeast to the southwest, and bears argentiferous lead deposits. The other is located on the southeastern area of the island, extending from Faros to Apokofto Beachand Aspros Pirgos. One can see the remains of many of these mines spread throughout the island, some of which are partly submerged underwater.
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