Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
A winter road in Russia that serves the Senatchen gold-antimony mine in Yakutia has been hampered by warmer weather, said GeoProMining today.
“This year the winter season in Yakutia has been relatively mild,” said the company in a news release.
“Moreover, weather conditions have been changing often and rapidly. These factors have added certain complications to the process of constructing the winter road.”
The company said the road had been completed for the 2012/2013 production season.
Last month CBC reported problems completing ice roads in Canada, which connected Fort Chipewyan and Fort McMurray also due to unseasonably warm days.
The winter road in Russia is made through the frozen beds of the Elgi and Adycha rivers every year, says GeoProMining. From February until April it becomes the only ground-based transportation method to the mine located 700 km away from the town of Ust-Nera in the remote region with limited vehicle access. The rest of the year the mine can be reached by helicopter only.
The winter road is used transport mined ore and to supply the mine with technical resources and diesel fuel necessary for the next production season.
Creative Commons image by cityofstrangers
Comments
Luxury Rogue
This story is complete BS. Only to serve the man-made climate change conspiracy. I was on the ice road in Yakutia this winter. It was a very cold one, as every local will confirm ! We had down to -62°C. Or look at another expedition this year: http://www.amarokpolar.com