"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."
Toronto-based hedge fund managers Jerome Hass and Jimmy Chu of Lightwater Partners discuss their strategic approach to taking long positions on gold, zinc and tungsten opportunities around the world.
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.
Rio Tinto may attempt to re-enter the mining industry in Papua New Guinea after a distastrous experience in the 1980s, according to a report this week in PNGIndustryNews.net.
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.
With huge investments in Peruvian copper, Chinalco Mining, a division of the giant Aluminum Corp of China, follows another Chinese state-owned miner to the Hong Kong market to raise money.
Canadian miner giant Teck Resources Ltd. (NYSE:TCK, TSX:TCK.B) is interested in entering the iron ore industry and would seek to acquire a producing asset rather than develop a mining project, chief executive Don Lindsay told Bloomberg yesterday at the Canada Economic Summit, in Toronto.
