$9.5bn KSM project in British Columbia boasts reserves of 38m ounces of gold and nearly 10bn pounds of copper – mining 130,000 tonnes a day for 52 years.
According to the legislators, international mining companies —mainly from Australia, Canada and the U.K— are using the forced labour of Eritreans in their operations.
With oil prices having halved in the last six months, together with the attendant currency destabilisation, there have been significant transfers of value through derivative positions, so large that financial instability may result.
Gold stocks have suffered a miserable few years, becoming a laughingstock even among contrarians. But this despised sector’s seemingly-endless downward spiral has left gold stocks vastly undervalued relative to gold, which drives their profits.