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Wednesday, May 22

Forbes / Reuters Impoverished Peru is a golden prospect for miners: "Barrick, the world's No. 2 producer after Denver, Colorado-based Newmont Mining Corp. , has just struck gold at Alto Chicama -- a find that it is billing as one of the most significant discoveries of the past decade. It says the deposit, which Peru had first classed as a coal resource before its 2001 privatization, has 3.5 million ounces, but a source close to Barrick who asked not to be identified told Reuters the group thought Alto Chicama could reach 6 million ounces." Here is repeated the old saying, Peru is a beggar sitting on a gold bench"," but this time it appears to be true.

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