Discovery of new gold mine in Colombia can bring positive things to the area and put Colombia on the top 10 gold producers in the world. (Originally Posted on The Times.)
AngloGold Ashanti (ANG) is reportedly sitting on one of the world’s ten largest gold reserves after a massive discovery in Colombia.
Colombian daily El Tiempo last week reported that the deposit lies some 40 minutes from Ibague in the central province of Tolima and has the potential to double Colombia’s gold production by 2011.
While the Colombian government had been asked not to reveal the details of the project until February, Colombia’s president Alvaro Uribe let slip that the site would require an investment exceeding US$2 billion and would generate about 1,200 jobs.