Yahoo had the news over the weekend:
- The world’s largest maker of gold and silver mining material, sodium cyanide, has been forced to suspend production in Europe after Russia’s invasion of Ukraine sent energy prices soaring.
- Czech group Draslovka said production of the chemical, used in the extraction of precious metals from ore, had become uneconomic in Europe, with gas prices in the region at 12 times the levels in the US, compared with just 1.5 times in 2020.
- Shortages of supplies in markets reliant on Europe could be severe, the company said.
Gold not particularly bothered so far this week. This development is not unexpected given price movement in the enrgy markets.
