Central Bank plans to buy gold from local miners

The Central Bank of Ecuador (BCE for its Spanish acronym) is working on a strategy to buy gold to localminers. This, due to transaction of half of the gold reserves (13 tons), through Goldman Sachs. The objective of the plan is that the credit unions of the mining districts buy...

New reforms in the Mining Law seek to attract foreign investment

With a new reform of the Mining Law, the Ecuadorian Government seeks to expand its incomes to not depend on petroleum and taxes. The third source has been to turn to indebtedness, inside the country or abroad. The state issues bonds and the Institute of Ecuadorian Social Security...

Couple finds $ 10 million worth in gold coins buried in their garden

A couple (who remains anonymous ) from Northern California, USA, that were walking their dog on their property, found 10 million dollars worth in rare gold coins on perfect condition, buried in the shade of an old tree. “Almost every one of the 1,427 coins, whose issue...

Gadhafi Sold Gold From the Libyan Reserves

Qassem Azzoz, the governor of the Libyan Central Bank informed that the former Libyan leader, Moammar Gadhafi, sold 20% of the gold reserves of his country for a price of one thousand million dollars in the last days of his regime. Azzoz added that the weight of the gold was of...