Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
The state-owned Zimbabwe Mining Development Corp. plans to revive production at three gold mines, the state-controlled Herald said today, citing Deputy Mines Minister Gift Chimanikire.
The company has spent $2.4 million at its Jena Mine where it is targeting production of 36 kilograms (1,157 ounces) a month, up from the current 26 kilograms, the Harare-based newspaper reported on its website. The ZMDC is negotiating with an unidentified Zimbabwean bank to borrow $300,000 for exploration at its Elvington Mine, where shafts have been closed for eight years following a collapse, the Herald said. The state-owned corporation is also seeking a partner to reopen its Sabi Gold Mine in southern Zimbabwe.
