South Africa’s Tharisa taps Zimbabwean chrome reserves
Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.
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Zijin Mining Group (HK:2899), China’s largest gold producer, announced on Friday that its bid for Australia’s Norton Gold Fields Limited (ASX:NGF) had successfully obtained approval from Australian regulators.
One of the UK’s leading broadsheets has castigated the manipulation of gold prices by key market players, saying that the issue could explode into a bigger scandal than the Libor rate manipulation controversy.
With gold, silver, and their miners’ stocks drifting listlessly near correction lows, the sentiment in precious-metals land is even more pessimistic than usual.