BlackRock, the world’s largest money manager, remains constructive on bullion as a hedge, while Goldman and UBS see prices climbing to $1,600 an ounce.

Improved guidance integrates the eight effectiveness criteria of the UN Guiding Principles on Business and Human Rights.

Mining royalties would rise to 8% from 2% for raw precious stones. Rough industrial stones would attract a 6% royalty rate while cut industrial stones would be taxed at 3%.

Sector is experiencing the largest power blackouts in more than a decade.