This paper aims to investigate the environmental degradation pressure of the rivers La Teta and Mazamorras caused by gold mining in the municipalities of El Tambo and Buenos Aires, under the scenarios of manual and mechanical technology. To achieve this, in the first instance is constructed and estimated a stochastic model under log-lin procedure and then it does the same with a stochastic model with log-log information under random effects panel data. The main results show that the use of mercury is determined essentially by the size of the company, technology, and where it is located, but not suspended solids that she emits. Companies located in the municipality of Buenos Aires would push more pollution than those located in El Tambo, and mechanical technology does the same over manual technology. Thus, mechanical technology companies located in Buenos Aires are the largest contributors to environmental degradation and those located in El Tambo with manual technology, do the opposite.