Wednesday, March 3, 2010

AngloGold Ashanti (NYSE:AU): Peak Gold?

AngloGold Ashanti Search for Gold in Oceans

AngloGold Ashanti (NYSE:AU) is starting to comb the bottom of the sea for gold deposits as the demand for gold increases and the supply continues to diminish.

There is no end to gold demand in sight, yet there is an end to easy to access gold fields, and not only are the ocean floors a major place to look, but even hostile regions of the world are being considered a places to mine the yellow metal.

For AngloGold, they're in a joint venture with De Beers, the diamond producer for the purpose of exploring underwater locations for possible gold deposits.

The beginning operations are off the coast of New Zealand, and from there they could go as far away as Canada or South America, depending on their success over the next several years.

AngloGold Ashanti Search for Gold in Oceans

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