Gold News

Gold Prices could rise as White Mountain mining is halted

The supply of gold has been impacted by the action of Chinese farmers in response to alleged water contamination.

Operations at the White Mountain mine were halted after road access to the underground site in China's Jilin province was blocked by the farmers.

Action was taken in response to a supposed case of water contamination, for which the farmers have demanded compensation.

However, Sino Gold Mining Limited, which owns 95 percent of White Mountain, believes the claims are without foundation.

Nevertheless, the company is hopeful that a breakthrough in negotiations between the two sides can be reached shortly.

"Sino Gold is working with the relevant authorities to resolve the situation and is optimistic that full gold production will resume shortly," a company statement read.

The risk of a gold miners' strike in South Africa was averted recently, allaying fears that production at the world's biggest gold miner would be halted.

Supply restrictions would have put upward pressure on price, strengthening the position of Gold Investment as a default option in times of economic uncertainty.

How best to Buy Gold today? "If there's an easier route to buying investment gold, I have not found it," says one BullionVault customer. Find out for yourself and start Investing in Gold here...

BullionVault-cube-19307889-ADNFCR

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals