Illegality in the mining sector has deprived state governments of badly needed revenues, threatened the industry with costly and unpredictable shutdowns, and generated political chaos that helped bring down two state governments in 2011 and 2012.
Shares in Gabriel Resources were hammered again over the latest Rosia Montana shambles, dropping 6.9% on Thursday. Its losses for the week now top 15% and it also received the dubious honour of being included in the S&P TSX grouping of most volatile stocks.
The divergence between spot gold price and the share price of gold producers is due to a reluctance by companies to pass profits onto investors, says Evy Hambro BlackRock's top gold manager.
Located in Northwestern Nevada, along the southern edge of the Humboldt Range, lies the Relief Canyon Mine. Situated 110 miles northeast of Reno and 16 miles east / northeast of Pershing County’s Lovelock, the gold mine lies dormant.
Argentina's mining exports have virtually ground to a halt and companies are stockpiling gold, copper and other minerals due to foreign exchange rules that are impossible to comply with, a top industry executive said Tuesday.
