Posts Tagged ‘council’

Gold prices: ‘Lower price beckons’ say RBS

Thursday, May 19th, 2011

The World Gold Council has published its “Gold Demand Trends” review. It shows that an astonishing 349 tonnes or 63% of world gold jewellery demand (557t) was accounted for by China and India in Q1 2011.

Nick Moore, a gold and silver analyst at RBS comments:  ”If we also add in bar and coin investment, then at a combined 526t these two countries took up 57% of world jewellery+investment. There was also an impressive 129t of official sector buying, dominated by 93t of purchases by the Bank of Mexico during February and March.

“But strip out official sector transactions and the underlying demand for gold in Q1 was an impressive 1,000t, compared with a quarterly average in 2010 of 993tpq and in 2009 of 905tpq.”

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Titanium Treasure

Wednesday, August 11th, 2010

The biggest titanium mine based in Cambodia has been estimated by its owner to have up to $135 billion in deposits and is setting up to start producing in Koh Kong in 2011. Its in Chi Pat village and will be 20,400 hectares, which will be the biggest in Cambodia to date.

Chea Chet said “the project had received approval from both the Ministry of Industry, Mines and Energy and the Cambodian Development Council”.

“We are going to process titanium slag and shift it to Japan, the United States, China – any market we can sell it to” he said. Titanium slag is a semi-processed form of the element. It is treated further to produce titanium – used in a wide range of products ranging from toothpaste, to lasers and aircraft engines.

Chea Chet also added “In every 100 million tonnes of ore, 45 percent was slag. This could be sold at between $700 to $2,500 per tonne, depending on market fluctuations, he said.

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