China is set to launch a link between gold markets in Shanghai and Hong Kong this year following a landmark stock connect scheme, aiming to enhance its pricing power of gold contracts and ultimately challenge its competitors in the West.
A raging seven-year drought affecting copper-rich Chile is making miners grow anxious, with BHP and Anglo American already reporting an impact in their operations.
Chinese Novel Sunrise Investments has agreed to buy 48.7 million shares in SouthGobi —which was once worth over US$2.4 billion —for 35 cents per share in cash.