Kinross starts gold mining in Ecuador

Note: This section contains information in English only.
Source: Marketwatch

The government of Ecuador approved Kinross, Canadian gold production company, plan to start gold mining on the Frute del Norte deposit and the contract will be signed in the end of December or in the beginning of January, according to Wilson Pastor, Minister of non-renewable resources in Ecuador. The royalties from commodity contracts will fall in range between 5% and 8% depending on the gold prices, he added.

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Thu, 08 Dec 2011 06:57:30 GMT

Gold climbs after two-day losses

Gold futures recovered after two-day losses as yellow metal returned its safe-haven appeal on the more pessimistic economic outlook on the euro-zone. On the Comex division of the New York Mercantile Exchange, gold futures to be delivered in February were traded at USD1,739.55 a troy ounce at the U.S. morning trade, gaining 0.45% since opening.

Thu, 08 Dec 2011 06:56:50 GMT

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