Its project would sit on top of the Gramalote deposit, a joint venture between AngloGold Ashanti and B2Gold that could become one of the first modern commercial scale gold mines in Colombia.
Unless demand picks up or more miners cut output, prices for raw materials are set to stay low for years, or worse, continue to drop, the investment bank predicts.
The EIA says China and India are to blame, as imports from both nations — which from 2008 to 2013 accounted for 98% of the increase in world coal trade —are on their way down.
The investigation aims to determine whether senior officials tried extorting Freeport’s Indonesian unit in return for letting the company continue to operate in the country.