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21 May 2013
Berita Semasa 21 Mei 2013 ...
Iran wins Gold exploration bid in Sudan
According to reports, Sudan has granted an Iranian firm called "Mine an Metals" a license to explore for gold in River Nile state north of Khartoum, where much of Sudan's gold comes from,.
Three months after the visit of Iran's president Mahmoud Ahmedinejad to Khartoum, Sudan finally granted permission for an Iranian firm to explore for gold in the country.
According to reports, Sudan has granted an Iranian firm called "Mine an Metals" a license to explore for gold in River Nile state north of Khartoum, where much of Sudan's gold comes from,.
The move is likely to attract US led sanctions against the African country, which has been trying to attract more investment to explore for gold as it become the country's main source for dollars needed to fund imports after the loss of most oil production with South Sudan's secession.
Sudan has said it hopes to produce around 50 tonnes of gold this year, which would potentially make it Africa's third-largest gold miner behind South Africa and Ghana, and push it into the top 15 producers globally.
Sudan has handed out hundreds of gold exploration licences, mainly to firms from China, Arab and African countries, Russia and a few Western companies such as Canadians willing to do business with Sudan despite a U.S. trade embargo.
Sudan and Iran enjoy good ties - Bashir and Ahmadinejad have met several times in the past two years - but there are few signs of Iranian firms in Sudan apart from petrol stations run by Iran's state oil firm.
Ties between Sudan and Iran have come under scrutiny in recent months.
Sumber : Google
20 May 2013
Berita Semasa 20 Mei 2013 ...
Sudan calls off Gold mine rescue operation
Sudan is looking for gold to make up for the budget deficit it incurred as a result of losing three quarters of its oil production due to the secession of South Sudan in July 2011.
Sudan has called off rescue operations at the Jebel Amir gold mine and confirmed the death of five people.
In a statement, Sudanese mines ministry said that they had no reports of missing persons in the period of April 29-May 4 in the gold mine area.
Earlier this week it was reported that 100 miners have died at the gold mine in the Jebel Amir district, more than 200 km northwest of North Darfur capital of El-Fasher.
Nine other rescuers were killed as well. Sudan is looking for gold to make up for the budget deficit it incurred as a result of losing three quarters of its oil production due to the secession of South Sudan in July 2011.
But a significant portion of Sudan’s gold production comes from thousands of artisanal miners who have joined the gold rush across the country.
A delegation from the African Union-United Nations mission in Darfur accompanied the committee and certified the findings, the government said. Gold has become a key commodity for Sudan since the oil-rich south seceded.
Traditional, small-scale mines in the country reportedly produced more than 1.3bn pound worth of gold in 2012, and Sudan hopes to produce about 50 tonnes of gold this year, making it Africa's third-largest gold mine.
The industry has boosted foreign earnings which tumbled after most of its oilfields went to South Sudan at independence in 2011, losing Sudan three-quarters of its oil production.
More than a million people have been living in camps for the displaced in Darfur, after a decade of fighting.
Violence in the region has come down from its peak after civil war broke out in 2003, but there are still clashes between government forces, rebels, bandits and rival ethnic groups.
Sumber : Google
19 May 2013
Berita Semasa 19 Mei 2013 ...
Turkey buys 45.49 tons of Gold in April
Gold is big business in Turkey for cultural reasons and also because of bouts of high inflation over the past century.
Turkey bought 45.49 tons of gold in April, more than double the 18.26 tons in March.
Bourse Istanbul in a statement said price plunge during mid April prompted the country to buy more gold and is expected to beat the 2012 record of 120.78 tons by a large margin.
Turkey, which is not a major gold producer, was a net importer of gold, jewellery and precious metals in 2011 but swung to being a net exporter last year when it began shipping billions of dollars of the metal to Iran.
Gold is big business in Turkey for cultural reasons and also because of bouts of high inflation over the past century.
The metal is traditionally given as a gift at weddings and circumcision ceremonies, and demand for imports tends to surge during the summer months.
Turkey’s two-year bond yield fell after the figures, dropping to 4.97 per cent compared with 4.99 per cent just before the announcement, already a record low. The lira eased slightly to 1.7951 to the dollar from 1.7940 beforehand.
As Iran’s biggest natural gas customer, Turkey has been paying for energy imports with lira, because Western sanctions on Iran’s disputed nuclear programme prevent it from receiving dollars or euros. Iranians use those lira to buy gold in Turkey.
Meanwhile, Turkish consumer prices rose less than expected in April, data showed on Friday, strengthening expectations for further rate cuts and pushing bond yields to even deeper record lows.
Sumber : Google
18 May 2013
Berita Semasa 18 Mei 2013 ...
Gold to play major role in Italy economic recovery
According to a WGC survey, Only 4% of citizens and business leaders would support the sale of Italy's gold reserves, while 52% of citizens and 61% of business leaders would endorse using, but not selling, national gold reserves.
Majority of Italian's, holder of world's fourth largest gold reserves holder, are against selling some gold from country’s huge reserves to sped up economic recovery.
According to a WGC survey, Only 4% of citizens and business leaders would support the sale of Italy's
gold reserves, while 52% of citizens and 61% of business leaders would endorse using, but not selling, national gold reserves.
The study revealed that Italian business leaders (92%) and citizens (85%) overwhelmingly agree that the nation's gold reserves have an important and positive role to play in the country's economic recovery.
The report is based on research commissioned by the World Gold Council and carried out by Ipsos MORI, the independent research firm.
It incorporates the views of a representative sample of 1,009 Italian citizens aged 16-70, plus a separatestudy of 300 Italian business leaders1. It captures public sentiment in relation to Italy's economic recovery.
There is also broad support for an economic policy which seeks to stimulate growth, according to the research, with 59% of the general public and 60% of business leaders favoring such an economic policy.
A further 36% of citizens and 25% of business leaders preferred an approach which blends both growth initiatives and austerity measures, with only 4% supporting austerity in isolation.
The report particularly highlights the role that Italy's gold reserves could play in supporting economic growth. While the outright sale of national gold reserves would not meet the required level of funding, using gold as collateral for a gold-backed bond could help Italy raise around 80% of its two year refinancing needs.
The research forms part of a broader body of work carried out on behalf of the World Gold Council by independent organizations and renowned academics into the role gold can play as a foundation in the global financial system.
Sumber : Google
17 May 2013
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