(ft.com) - Experts joke that some Russian-mined gold in British vaults “is so old it has double-headed Imperial eagles stamped on it”. Ownership shifted into non-Russian hands decades ago, they say. But investors are worried that Russian gold could be used for sanctions busting. The London Bullion Market Association is therefore registering it all. The anxiety of investors is apt. Gold is the currency of fear and distrust. The financial systems of the democratic west and authoritarian east are pulling apart amid mutual recriminations. That extends the potential role of gold for national reserves and for transactions where no questions need be asked.
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African Mining Indaba begins
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Anglo American Platinum refined output down 25% in 2022
Anglo American Platinum’s production of refined platinum group metal (PGM) fell 25% in 2022 due to the delayed Polokwane smelter rebuild, and power outages, coupled with lower mine output and grades.
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Zim High Court orders release of Vast’s rough diamonds
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Gem Diamonds 2022 output dips on low ore treated
Gem Diamonds’ rough output at its 70%-owned Letšeng mine in Lesotho dropped 7% to 106 704 carats in 2022 compared to 115 335 carats produced in 2021.
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