A total of 165,000 tonnes of gold have been mined in human history, as of 2009. This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8,500 mÂ³, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
Gold's Usefulness as safe haven:
The geo-political and world economic structure is currently undergoing major change-some have even called the situation an "upheaval." This means that the investment outlook, particularly for certain parts of the world, is more unpredictable than usual. Under these circumstances, it is logical to conclude that certain investment portfolios should include real (non-paper) assets such as commodities for protection against a potential decline in the paper markets.
Orofino Gold Corp. (ORFG.PK) reported the appointment of Mr. Salvador Rivero to the company’s Board of Directors.
Mr. Rivero brings to ORFG a wealth of knowledge in the areas of business, corporate finance, and mining operations. After graduating from law school in Mexico, Mr. Rivero spent the next 25 years developing a thorough understanding of the processes necessary to successfully discover, acquire, and develop, mineral concessions with the potential of containing valuable mineral deposits. Considered by Orofino as an acquisitions specialist, Mr. Rivero has been involved in the development of various turn-key projects in mining, energy, fertilizer, oil and gas, and shipping sectors.
Mr. Rivero founded and directed Constructora y Perforadora Marina, S.A. de C.V., and Kaiser International, S.A. de C.V., Ultramar Bancorp Inc., Ultramar Capital Plc. and First Mercantile Bank Ltd. From 1998-2000, Mr. Rivero was responsible for acquiring, developing, and putting into production a silver mine in Sinaloa for Real de Panuco, S.A. de C.V. He was also a member of the Board of Directors of the Canadian mining company Golden Temple Mining and the Mexican mining company Minas Kaiser, S.A. de C.V. Until recently, Mr. Rivero acted as the President and served as a Director of Oroco Resource Corp, a mining corporation trading on the TXS-V. During that time, Mr. Rivero was responsible for the successful acquisition of Oroco’s mining properties in Mexico.
At ORFG, Mr. Rivero, a Spanish-speaking executive, will assist in overseeing the acquisition of new properties. In addition, Mr. Rivero will utilize his extensive international experience in development and selection of partners for the progression toward large-scale production. Mr. Rivero will play a key role in the development of the properties in ORFG’s current Senderos de Oro gold camp in the mining area of central Sur de Bolivar, a project area comprised of more than 3000 hectares of mineral concessions in Colombia’s highest producing artisanal mining region.
ORFG is a China based gold producer, founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise. ORFG’s corporate objective is to continue to build shareholder value through the exploration and development of Senderos de Oro and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
More about ORFG at www.orofinogold.com
LDK Solar Co., Ltd. (NYSE:LDK) announced its intention to offer, subject to market and other conditions, RMB-denominated US$-settled senior notes (the "Notes") pursuant to Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act"). The Notes will be guaranteed by certain of LDK Solar's offshore subsidiaries (the "Subsidiary Guarantees"). The interest rate, price and other terms are to be determined by negotiations between LDK Solar and the underwriters of the Notes. LDK Solar intends to use the net proceeds of the offering to repay certain of its existing indebtedness with remaining maturities of up to one year.
LDK Solar Co., Ltd., through its subsidiaries, engages in the design, development, manufacture, and marketing of photovoltaic products; and development of power plant projects.
Mechel OAO (NYSE:MTL) one of the leading Russian mining and metals companies, announced it has signed a loan agreement to finance construction of the second line at the Sibirginskaya mine (owned by Mechel Mining OAO's subsidiary Southern Kuzbass Coal Company OAO). According to the terms of the agreement, Transcreditbank OAO grants Southern Kuzbass Coal Company OAO a loan of 6.189 billion rubles (approximately 210.4 million dollars*). The funds must be disbursed by December 31, 2012, and will be repaid in equal monthly installments, beginning in February 2014 and through December 2015. The loan will finance equipment acquisition, construction of the surface complex's buildings and excavation for the Sibirginskaya mine's second line, which will bring the enterprise's capacity up to 2.4 million tonnes of coal per year.
Mechel OAO, through its subsidiaries, operates as a mining and steel company in the Russian Federation and internationally. The company operates in four segments: Mining, Steel, Ferroalloys, and Power.
Yingli Green Energy Holding Co. Ltd. (NYSE:YGE) a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "Yingli Solar," announced that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas"), has signed a new PV module supply agreement with San Diego-based Borrego Solar Systems Inc. ("Borrego Solar"). Under the terms of the agreement, Yingli Americas is expected to supply 20 megawatts (MW) of PV modules to Borrego Solar in 2011. These modules are designated for commercial solar projects across the U.S.
Yingli Green Energy Holding Company Limited, together with its subsidiaries, engages in the design, development, marketing, manufacture, installation, and sale of photovoltaic (PV) products in the People’s Republic of China and internationally.
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