Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Global holdings in gold-backed ETFs and similar products grew by 127 tonnes (equivalent to $5.5 billion in inflows) in June, up to 2,548 tonnes –- the largest monthly increase in seven years –- according to data compiled by the World Gold Council, on the back of heightened geopolitical uncertainty causing central banks around the world to go on a gold hunt.
The result was that gold price moved to a six-year high, breaking over the $1,400/oz threshold last month.
The following trends were observed in the gold ETF market for the month of June, based on WGC data.
With files from the World Gold Council