"Nasdaq Stock Market" said : INTERVIEW-Buenaventura says gold must climb higher to unleash new projects
The price of gold "isn't attractive enough to see a new boom in gold projects." Buenaventura expects to produce 650,000 to 750,000 ounces of gold this year and 27 million to 30 million ounces of silver. This year, Buenaventura will work to make progress on turning four advanced-stage exploration projects into medium-sized gold, silver and copper mines in coming years, said Gobitz. "Metal prices are beneficial to ongoing projects but not necessarily good enough to drive ... new ones," Gobitz said. Newmont owns a 51.35 percent stake in Yanacocha, a large, aging gold mine near the Conga deposit in which Buenaventura is a junior partner.
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The price of gold "isn't attractive enough to see a new boom in gold projects." Buenaventura expects to produce 650,000 to 750,000 ounces of gold this year and 27 million to 30 million ounces of silver. This year, Buenaventura will work to make progress on turning four advanced-stage exploration projects into medium-sized gold, silver and copper mines in coming years, said Gobitz. As the Conga project - once expected to help offset dwindling output at Yanacocha - remains on hold, Buenaventura has pushed forward with a series of smaller projects. Newmont owns a 51.35 percent stake in Yanacocha, a large, aging gold mine near the Conga deposit in which Buenaventura is a junior partner.
World Gold Trust Services, a subsidiary of the World Gold Council (WGC), said in a statement to Reuters that the ETF had received the certification from Malaysia-based Islamic advisory firm Amanie Advisors. "This announcement marks an important step in addressing the demand for gold in the $2 trillion Islamic finance market," said Joseph Cavatoni, Principal Executive Officer at World Gold Trust Services. This could further open the safe-haven asset to Islamic investors from countries where demand for gold has remained low. Analysts cautioned it was too soon to determine if Islamic investors would add a significant new source of demand. Gold had traditionally been classified as a currency in Islamic finance, confining its use to spot transactions, but new guidance issued in December is making room for a wider range of investment products.
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Buenaventura says gold must climb higher to unleash new projects
The price of gold "isn't attractive enough to see a new boom in gold projects." Buenaventura expects to produce 650,000 to 750,000 ounces of gold this year and 27 million to 30 million ounces of silver. This year, Buenaventura will work to make progress on turning four advanced-stage exploration projects into medium-sized gold, silver and copper mines in coming years, said Gobitz. As the Conga project - once expected to help offset dwindling output at Yanacocha - remains on hold, Buenaventura has pushed forward with a series of smaller projects. Newmont owns a 51.35 percent stake in Yanacocha, a large, aging gold mine near the Conga deposit in which Buenaventura is a junior partner.
World Gold Trust Services, a subsidiary of the World Gold Council (WGC), said in a statement to Reuters that the ETF had received the certification from Malaysia-based Islamic advisory firm Amanie Advisors. "This announcement marks an important step in addressing the demand for gold in the $2 trillion Islamic finance market," said Joseph Cavatoni, Principal Executive Officer at World Gold Trust Services. This could further open the safe-haven asset to Islamic investors from countries where demand for gold has remained low. Analysts cautioned it was too soon to determine if Islamic investors would add a significant new source of demand. Gold had traditionally been classified as a currency in Islamic finance, confining its use to spot transactions, but new guidance issued in December is making room for a wider range of investment products.
read more visit us gold
collected by :Jack Luxor
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