Weekly Report - 12 July 2012 (WR-12-27)

PERU | Gold sales to South Africa. On 10 July Peru’s embassy in South Africa announced that Peru had exported US$20m worth of gold since August 2011 to the African country, the world’s fourth largest gold producer. Peru’s ambassador to South Africa, Daúl Matute Mejía, explained that Peruvian gold sales to South Africa began in 2011 “a phenomenon that surprised all of us” given that South Africa produces more gold than Peru. Matute argued, however, that it had been recognised that Peruvian gold “is of a better quality of 18 carats and comes in all three colours which makes it valuable for jewellery work”.

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