Nordgold Plans Investment to Increase Reserves and Production

Bloomberg reported that Nordgold (LSE:NORD) said it will spend $800 million to double reserves over the next four years.

As quoted in the market news:

The gold producer, listed in London, will invest $800 million through 2015 to increase reserves from 8.2 million ounces now and boost output almost 60 percent to about 1.2 million ounces, Chief Executive Officer Nikolai Zelenski said.

Click here to read the full Bloomberg report.