Guatemala seeks 40% stake of all mining companies

[pmbug]

Guatemala has jumped on the wagon that has been running through most of Latin America this year, proposing an increase of control over its natural resources. President Otto Perez Molina is pushing a Constitutional reform that will make possible for the government to acquire up to 40% of the mining and exploration companies operating in the country.
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More: http://www.mining.com/2012/06/28/guatemala-seeks-40-stake-of-all-mining-companies/

 

[ancona]

The more they take control of mining, the farther production will fall. This is bullish for prices.

 

[bushi]

well that would explain today's surge... funny, are the fundamentals catching up again?

How rude of el presidento - to undermine all the efforts of gold bashing, in such unforeseeable way... :rotflmbo:

 

[pmbug]

well that would explain today's surge...

Pretty sure that today's surge is largely a result of a short squeeze in the EUR/USD.