Mexico, the world’s largest silver producer, is expected to become the next source of “mega” gold projects as experts predict its bullion production will increase considerably in the next five years.
"What is more disconcerting is that while investors have over the past few weeks appeared cautious of running too short on gold, this fear looks to have evaporated."
When Kim got involved with Kazakhmys (then called ZhezkazganTsvetMet) during the 1990s the Soviet era the state company was in complete disarray and debt laden. He turned Kazakhmys into a $6 billion company and amassed a personal fortune of $3.5 billion along the way.
The oil and natural gas rich nation's stake in the coal giant is now 8% with a target of over 10%, providing crucial back for Glencore CEO Ivan Glasenberg to push through the $90 billion merger with Xstrata.
Fearing a backlash by foreign investors in the mining sector – the foundation of the country's economy – Mongolian legislators on Tuesday watered down many of the provisions of draft legislation that gives the state greater control and ownership of mining projects.
Anglo American Platinum (Amplats), the world’s largest platinum producer, launched today the first of five fuel cell-powered locomotive prototypes to be tested at its mining operations in South Africa.
At a time when hedge funds are reducing bullish silver bets by the most in two years, analysts predict a rally as manufacturing expands from China to the U.S., boosting demand for the precious metal most used in industry.
