Hedge funds’ bullish bets on gold jump to four-year high
Hedge funds and other large speculators boosted their net-long position in gold.
Ghana’s Minister of Communications, Omane Boamah, said Tuesday the government is drafting a bill that bans all copper exports, in an effort to crackdown cable and fibre theft, which is affecting the operations of telecommunication companies in the African country.
If enacted, the authority believes the law will discourage people who steal cables and fibre belonging to telecom operators, helping to improve the quality of those services in the country.
Boamah added aid his office would soon start a year-long awareness program to educate about the dangers and impact of cable thefts.
Last month Ghana’s government created a task force to fight illegal gold and diamond mining in the country. Authorities blamed the illegitimate practice for costing the country millions of dollars in lost revenue due to the environmental degradation
Illegal mining in Ghana has become a major problem over the past few months, with an estimated 10,000 immigrants —most of them Chinese— engaged in such activities and it has raised concerns about the environmental impact of that kind of mining.
