According to the country's foreign ministry it has received 4 bids, all from foreign miners, including OZ Minerals and Dundee Holdings, for the copper mine
The metal rose on Friday, led by a rebound in the Euro, but was still set for a fourth straight weekly loss, owing to sluggish consumer demand and waning investor appetite.
Chinese investors are turning their focus to emerging economies as they look to expand their demand for commodities and switching away from Australia and Canada, which are getting too expensive.
India's duty hike has made domestic gold jewellery more expensive than imported jewellery, with retailers stocking up on cheap imports from Thailand and China to quell demand.
In what opposition parties call the "mother of all scams", a government auditor's draft report says India lost up to $210 billion in revenue by selling coal deposits too cheaply.
The world's fourth-largest bullion producer acquired the stake after making a $110 million down payment this week and retained the option to acquire an additional 20% in the Far Southeast Project.
Hubert Moolman maintains that both gold and silver are rather close to entering the mania phase of the bull market but, in order to get there value needs to be diverted from somewhere - most likely equities
South African lawyer Richard Spoor says he will file class action papers with the High Court against top gold miners on behalf of thousands of former miners who say they contracted silicosis.
With the miner's stock having fallen by nearly half since September, bankers see it a target for bigger players who are always on the hunt for deposits to replenish their reserves.
In a severe measure likely to lower the appetite for gold in the world's biggest bullion consumer, the Indian government has doubled import duty, in a move that could make gold smuggling and black market an attractive proposition all over again.
