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Turkish banks deny links in Iran Gold trade

Turkish banks deny links in Iran Gold trade | Gold and What Moves it. | Scoop.it
From www.bullionstreet.com - January 9, 1:08 PM

ISTANBUL(BullionStreet): Major banks in Turkey denied any links over country's gold trade with Iran and said that it was business as usual for their gold trading desks.

 

According to bankers they are always careful in transactions and about the source of the money or the identity of the customer; however, have not faced any extra ban with regard to gold transactions.

 

Turkish bankers also said the trade with Iran was not being handled through them. They added that Iran is not carrying out its gold trade via the Turkish banking system and do not face any pressure regarding this issue. ...

Hal's insight:

Well of course they do. Why end a good thing for them?

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International watchdog exposes use of forced labour in Canadian-Eritrean gold project | MINING.com

International watchdog exposes use of forced labour in Canadian-Eritrean gold project | MINING.com | Gold and What Moves it. | Scoop.it
From www.mining.com - January 16, 2:07 PM
The group claims the Eritrean government has been using forced labour to construct a gold mine, in a joint venture with Canadian Nevsun Resources Ltd.

 

International group Human Rights Watch said Tuesdaythe Eritrean government has been using forced labour to construct a gold mine, in a joint venture with Canadian Nevsun Resources Ltd. (TSX: NSU).

 

According to the report, the Vancouver-based miner failed to ensure that forced labour was not used in the construction of its African Bisha gold project.

 

The 29-page document, Hear No Evil: Forced Labour and Corporate Responsibility in Eritrea’s Mining Sector, describes how mining companies working in Eritrea risk involvement with the government’s widespread exploitation of forced labour. It also documents how Nevsun – the first company to develop an operational mine in Eritrea – initially failed to take those risks seriously, and then struggled to address allegations of abuse connected to its operations. ...

Hal's insight:

I'm not surprised by this, Eritrea does not have a great track record.

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