Nationalization Panic Strikes Gold Miners

The Street reported that the global gold mining community is fearful of nationalization.

The market news is quoted as saying:

The fears are warranted. Mongolia announced Tuesday that it was thinking about increasing its stake in the Oyu Tolgoi project in South Gobi. Ivanhoe Mines, which is almost 50% owned by Rio Tinto, owns 66% of the project and the government 34%. According to reports, the government might try to increase its share to 40%.

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