Mystery Russian gold mine investor revealed as crypto executive
One of the strangest stories in the mining industry this year has been the battle between Russian gold miner Petropavlovsk Plc and its activist, mystery shareholders.
The actual strike isn’t a deterrent to investors. But certainly the inability to get it under control will be of concern, particularly as this is now the third platinum mine that has seen conflict resulting in deaths this year.
Glasenberg’s determination to continue with the offer as originally planned comes amid growing signs that Xstrata is more confident of its position on a stand-alone basis.
The lack of excitement haunting the precious metals and mining shares markets over the past year is expected to change in the next few months, says Michael Fowler, senior mining analyst with Loewen, Ondaatje, McCutcheon.
Rio Tinto would have to build its own power plant and delay commercial production if the two nations cannot come to a deal during long-running power negotiations.