Category : Mining
Despite prices approaching their lowest level in 10 years, the largest Platinum miners are not significantly reducing their production.
While the cost of gold is increasing in value, the mining production of the main gold companies is decreasing sharply, recording a 15% decrease.
- Venezuela Prefers to Refine Gold in Turkey because of US Sanctions;
- The Yuan is in Free Fall Again;
- Russia Liquidates its US Treasury Bonds.
The Russian gold miner continues his ascent with his Sukhoi Log project, one of the largest undeveloped gold deposits in the world.
The large miner Impala Platinum gives half of its mining land to the Zimbabwean government.
Russia will double gold mining on its territory and become the second largest producer in the world.
The fact that Cia. de Minas Buenaventura SAA is beating competitors in the stock exchange at a time it’s producing the most cash in seven years says something about what investors are looking for in gold stocks.
Rio Tinto (ASX, LON, NYSE: RIO), the world's 2nd largest miner, has announced that it is ready to sell its participation in the giant Grasberg mine, the world's largest gold mine, to Indonesian state-owned mining holding Inalum for $3.5 billion.
Coronet Metals (TSXV: CRF) announced this week that it has entered into an agreement to gain 100% interest in 3,888 mineral claims totalling over 62,000 hectares in the Meguma Gold Belt located in Nova Scotia, eastern Canada.