While analysts keep trying to answer the burning question of how much gold China really has, the most recent theory indicates that it's at least 9,500 tonnes.
His comments follow this week's decision by the federal court of Australia to overturn government approval for the construction of one of the biggest coal mines in the world.
South Africa’s top gold producers believe it is highly likely that unions agree to take the latest pay offer presented to them, marking the end of almost 5 weeks of negotiations.
While analyst predict a rebound in hard-hit rare earth prices later this year, it is still unclear whether companies outside China, the world’s largest producer, will be able to challenge its dominance.
The proposed open-pit surface and underground spodumene mine will produce lithium, highly used in the manufacturing of batteries for cell phones and electric cars.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
A group of demonstrators, however, continued to block some access roads on Thursday morning, attempting to seize a bus that was heading to the nearby Gabriela Mistral mine.