Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
The Argentinian Chamber of Mining Entrepreneurs issued a report this week stating that it expects mining industry investments to reach $29 billion and employ about 80,000 people in 2019.
According to the group, the mining sector is experiencing continued growth and has become the sixth most important sector when it comes to exports.
“At the Chamber we work day in and day out to create synergies with the states, contribute to better public policies, professionalize the relationship between public and private entities, and create a political and social dialogue that generates a shared vision of a sustainable industry,” Marcelo Álvarez, First Vice-president of the Chamber, said when presenting the report to the local press.
Álvarez’s presentation was made at the launching of Arminera, an international mining expo taking place in Buenos Aires in May.
At the event, the executive also said that the Argentinian mining industry is working hard to comply with a program called “Towards sustainable mining,” which provide companies with concrete tools on how to operate in a transparent fashion and following international environmental and sustainability standards.
