Roman-Age Gold Mines Revived with Crisis-Era Prices

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"As gold futures more than doubled in the past three years, Spain's Asturias region has drawn projects for fields first developed for the Roman Empire 2,000 years ago."

Bloomberg, Manuel Baigorri

As gold futures more than doubled in the past three years, Spain's Asturias region has drawn projects for fields first developed for the Roman Empire 2,000 years ago. The mineral-rich area regained fame in the 19th century digging coal for Basque steel mills that fed Britain's industrial revolution, though most of those mines can't compete at today's coal price.

Astur Chief Executive Officer Pinkowski, 41, forecast the Salave deposit contains more than 60 tons of gold, or about 2 million ounces. Vancouver-based Astur Gold can produce 135,000 ounces a year, which at gold prices of $1,750 an ounce will help it post $230 million in annual revenue, he said. . .View full article

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