Lonmin in $200m loan deal with state-backed Chinese company
Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.
The United States is wagging its finger at Zimbabwe, threatening to ratchet up sanctions over a plan to develop a platinum mine involving Russian and Zimbabwean companies.
Fresh selling sees gold price end September down 6% vs historical average gain of 3%, silver tanks 13%, platinum drops 9% and palladium collapses 15% over the course of the month.
For thousands of years of development as a species, humans never really needed to understand the real meaning behind big, unreachable numbers such as billions or trillions.
Founder of Jefferson Financial, producer of the New Orleans Investment Conference and Gold Newsletter, believes at least a small amount of the massive liquidity produced by loose monetary policy in Western economies will find its way into mining equities .