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Peter Spina: Ethiopia launches $50 million gold refinery joint venture

Peter Spina: Ethiopia launches $50 million gold refinery joint venture
Ethiopia opens first gold refinery

Peter Spina, CEO at GoldSeek.com, reports that Ethiopia has launched its first gold refinery through a $50 million joint venture aimed at turning the country into a regional hub for precious metals processing.

Gold exports are a crucial source of foreign exchange for Ethiopia, earning the nation $5.6 billion last year.

Spina has tracked trends in precious metals markets in recent updates. He recently reported that gold retained strength while silver dropped below $60 as rates and oil rose. Earlier, he highlighted that the short position in SLV increased by 8.35 percent, reaching over 30 million shares.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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