Australian company Crusader Resources Ltd. will invest $400 million in a gold mining project located in the Currais Novos region in Brazil’s north-eastern state of Rio Grande do Norte. The project is expected to be one of the biggest gold mines in the country.
Even though gold prices can experience declines that appear to be unfounded, demand from various categories and parts of the world continue to provide support to prices.
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Gold demand in China may surge as much as 30 percent this year as rising incomes boost consumption, helping the country topple as the world's largest bullion market on an annual basis, according to the World Gold Council.