Deutsche Bank ends up with gold mines in its hands « Mining Blog

Deutsche Bank ends up with gold mines in its hands

6. June 2012,

According to Deutsche Bank’s 2010 Financial Report, the only mining company in which it holds substantial capital is Crescent Gold Ltd, which is active in Australia.

However, in May 2012, Deutsche Bank “elected” to take possession of all the assets belonging to Century Mining Corp, after that company’s parent, White Tiger Gold Ltd, had defaulted on a forward gold purchase agreement with the bank.

Century Mining had been “unable to deliver contractual volumes to Deutsche Bank under the deal, requirng it to make monthly cash payments in lieu, which had not been maintained” [MJ 1 June 2012].

Because of the default, DB has ended up – effectively- owning the Lamaque gold mine in Quebec, and Peru’s San Juan gold project.

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1 Comment

  1. Strange, i thin it,s not the end of the gold rush.

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