Today, the UK's Serious Fraud Office launched a criminal investigation into Eurasian Natural Resources, which faces allegations of corruption regarding its Kazakhstan and African businesses.
Uranium – The uranium spot price plunged $1.35 this past week, to $40.90 per pound, as a lack of market activity and reports of new problems with Chinese imports prompted sellers to lower offer prices
Oil – Bloomberg reported that China National Petroleum Corp’s president and Kazakhstan’s president had a meeting to discuss a program that would boost investment in China’s energy sector in exchange for resources.
Gold – The gold price started the week on a tear as bargain hunters put the pedal to the metal on bullish comments from the US Fed chair. Good economic news, however, beggared the price, and by the end of the week gold was struggling again.
Gold – Nations that were formerly part of the USSR are largely overlooked, but not by everyone.
Gold – Reuters reported that two gold deposits located in Northern Kazakhstan have been bought by Kazzinc, a zinc producer controlled by Glencore International (LSE:GLEN) and Verny Capital, a Kazakh investment company, for around $200 million. Together, the deposits' reserves amount to 70 tonnes.
Iron – Kazax Minerals Inc. (TSXV:KZX) announced that it has wrapped up the acquisition of a 75-percent interest in the Lomonosovkoye Limited Liability Partnership Element GmbH, which holds unrestricted exploration and production rights for the Kazakhstan-based Lomonosovskoye iron ore deposit.
Who will win and who will lose as Kazakhstan changes the rules regarding its mineral riches?
Uranium – An extremely destructive storm in Kazakhstan led to a temporary suspension of uranium mining in the Sozak region.
The Commodity Investor highlights the best ways to get started on investing in Kazakhstan's oil industry.
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