Posts Tagged ‘world’

Nothing is so salutary for the Chinese economy as growth in the United States, and nothing is so good for copper and iron ore prices as a strong Chinese economy. The recent drop in the U.S. Full story

Interfax-China reported that China's gold bullion output grew by 5.89% in 2011 to reach a record high of 360.96 tonnes up by 20.08 tonnes from the previous year making the country the world's largest producer for the fifth year running. The China Gold... Full story

The People’s Army Newspaper Online reports the Vietnam’s central bank wants to mobilize gold from citizens to free up funds for socio-economic development. The reserve bank says this way the Vietnamese public can get world prices for their bars, coins and jewellery, something that has eluded them so far due to export restriction and various trading and import limitations in the communist country. The ... Full story

The 2012 week-long celebrations of the Year of the Dragon in China were nothing but a major ‘gold rush’ with gold sales volumes exceeding 95 million U.S. dollars, which is an almost 50 percent increase over last year’s celebrations, reported Xinhua. Full story

Gold is a very controversial object.  Many investors view the precious metal as a storage of wealth and a hedge against uncertainty. However, critics claim gold is a bubble and has no intrinsic value,  especially since you can not eat it.  The tech giant Apple Inc. Full story

World number three miner Rio Tinto has taken a majority stake in Ivanhoe Mines, its partner on the Mongolian Oyu Tolgoi project, purchasing a 51% interest. The move comes after Ivanhoe scrapped a controversial “poison pill” shareholder provision clearing the way for Rio, which already owned 49% of the Vancouver-based company, to do a complete takeover. Rio paid $20/share for the additional 2%. Full story

hycroft.jpg Mincom has announced a significant contract with Allied Nevada Gold Corp, a US-based gold mining and exploration company. Full story

South African platinum group metal production was down 2.7 percent for the three months ended November 2011 compared with the three months ended August 2011. Statistics South Africa released its  Mining: Production and sales report on Tuesday . Full story

The latest moves towards trade in Chinese yuan sounds the early death knell of the dollar as the world's global reserve currency with gold likely to return to the monetary system as a result. Full story

A lingering dispute has led to the Union halting the work return at one of the world's largest copper and gold mining operations after the 3-month striket there Full story