China, the world’s number one gold miner, announced a larger than expected gold store of 1,658 tonnes back in June 2015, adding an addition 46 tonnes this year. But analysts project the number to be much higher. Russia has stocked up on 62 tonnes of the precious metal this year. Source: Mining.com
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The Iraqi Kurdish Regional Government’s (KRG) economic power, propelled by oil exports via Turkey, is potentially at risk if the autonomous administration in northern Iraq insists on independence considering Ankara’s objection to the referendum, an energy expert has said. Source Hurriyet Daily News
Russian Defense Ministry Spokesman Major General Igor Konashenkov has called on the US-led international coalition and the opposition supported by it not to hamper the actions of the Syrian government forces against terrorists. Source Tass
Official figures published last week found that oil production increased by 2.9 per cent last year following a recovery in the price. However, capital expenditure dropped by around 20 per cent and it has emerged there were 60,000 job losses in the industry last year, 20,000 more than expected. Source The Telegraph