Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Hecla Mining Company (NYSE: HL), owner of the Casa Berardi gold mine in western Quebec, has finalized a cooperation agreement with the Council of the Abitibiwinni First Nation (CAFN).
The cooperation agreement provides participation in the Casa Berardi mine through training programs, employment and advancement opportunities, business opportunities, environmental protection measures and other practices, the company said.
“We are very pleased to have reached this agreement with the Council of the Abitibiwinni First Nation because of our mutual desire to protect the environment and our respect for Aboriginal people and their traditional way of life,” Hecla CEO Phillips S. Baker Jr. said in a press release.
The Casa Berardi mine, situated 95 km north of La Sarre, Quebec, has produced approximately 1.9 million recovered gold ounces since 1988. Last year, the mine produced 134,409 ounces of gold.
The mine currently employs over 650 workers in the province.
