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Article: Chile's gold output set to triple by 2015.
- Article from:
- UPI Energy Resources
- Article date:
- November 12, 2009
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Chile has set in motion plans to triple its gold production in five years as gold prices continue their ascent on world markets on the back of a weak dollar, low interest rates and skepticism about equity investments.
Gold prices rose more than $15 an ounce Wednesday as investors out to make quick profits ditched the dollar in favor of gold and other commodities, including oil futures. In trading Wednesday gold prices reached $1,117, and the metal's 2010 futures rose above $1,120.
The prices have contributed to excitement in Chile amid prospects the country may earn ranking among the Top 10 gold producers if current mining development plans are completed ...