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