Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
The import of gold and silver by India has risen by a whopping 222% between April and May 2011, as compared to a year ago. In the month of May alone, imports were a staggering $9 billion, with gold demand growing 25%.
“Even as inflation and a widening trade deficit to $15 billion in May continues to weigh on the minds of Indian investors, the demand for fresh gold has continued to grow.”
