http://oilprice.com/Finance/investing-and-trading-reports/This-Top-Base-Metal-Producer-Is-Diversifying-Into-Gold.html
The last two years saw miners rushing away from gold -- into metals like copper, zinc, and iron ore.
But
news this week suggests that trend may be reversing; signaling
investment capital and investor confidence returning to precious metals.
The
development comes in Mexico. Where local press reports that one of the
country's largest base metals producers is planning to take its first
steps into the gold mining business.
The
company is Minera Autlan, Mexico's largest producer of manganese
ferroalloys for the steel sector, which said that it is on the verge of
buying a minority stake in an unnamed gold mine -- with a formal
announcement expected in the next few months.
The move into
bullion reportedly comes as Autlan's management has grown concerned
about falling profits in the steel sector, prompting a push to diversify
the company's mining activities.
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