Friday 18th August 2017

Resource Clips


Posts tagged ‘Germany’

German cops nab suspect family but fail to find 100-kilo gold coin

July 12th, 2017

by Greg Klein | July 12, 2017

German cops nab suspect family, fail to find 100-kilo gold coin

Security footage shows camera-shy suspects
passing through a train station near the museum.

Hundreds of heavily armed police, some wearing masks, raided several buildings and arrested four suspects in the theft of a 100-kilogram Canadian Maple Leaf gold coin. Worth well over $4 million, the coin fell victim to a daring heist at Berlin’s Bode Museum last March.

“We assume that the coin was partially or completely sold,” Associated Press quoted Carsten Pfohl of the Berlin state criminal office. A museum employee likely tipped off the thieves, another source told AP.

The four suspects, aged between 18 and 20, were said to be members of “a large Arab family with alleged links to organized crime,” the BBC reported. Several others are being questioned.

The arrests follow last week’s release of CCTV footage showing hooded suspects averting their faces as they walked along an otherwise deserted train station platform.

The missing coin was one of five produced by the Royal Canadian Mint, which keeps one copy in its vaults. Another, property of Barrick Gold TSX:ABX, remains on display at Toronto’s Royal Ontario Museum, where it’s part of the Teck Suite of Galleries.

Related:

Michael Eissenhauer of the State Museums of Berlin expresses dismay at the theft of a 100-kilo gold Maple Leaf coin

May 12th, 2017

…Read more

Seen this 100-kilo gold coin? Call Berlin police

March 27th, 2017

by Greg Klein | March 27, 2017, updated March 28, 2017

A 100-kilogram Maple Leaf gold coin seems destined for meltdown following a daring heist at Berlin’s Bode Museum. With a face value of $1 million but worth over four times that amount at today’s prices, it’s one of five identical coins produced by the Royal Canadian Mint.

Thieves entered the building between 2:00 and 4:00 a.m. March 27, according to a museum statement.

Seen this 100-kilo gold coin? Call Berlin police

A tad too conspicuous for general circulation, an identical
coin delights visitors at Toronto’s Royal Ontario Museum.
(Photo: Royal Ontario Museum)

“We are shocked that the burglars overcame our security systems, which have been successfully protecting our objects for many years,” said Michael Eissenhauer, director general for the State Museums of Berlin. “We hope that the perpetrators will be caught and the precious coin will be returned undamaged.”

The museum requested tips from anyone who’s been offered deals on large volumes of gold.

Due to superior security or less brazen bandits, other million-dollar Maple Leafs have survived Canadian museums. Victoria’s Royal B.C. Museum hosted the numismatic oddity in 2015 at the Gold Rush! El Dorado in British Columbia exhibit, before the show’s artefacts went to Gatineau’s Canadian Museum of History last spring.

That Maple Leaf belongs to its creator, the Royal Canadian Mint. “We don’t know who owns the coin stolen in Berlin but we can confirm that it’s not the Mint’s,” Alex Reeves of RCM external communications informed ResourceClips.com. “Our own coin is safe and sound in our Ottawa vaults.” The Mint doesn’t reveal the other owners’ names, Reeves added.

Making no secret of its ownership, Barrick Gold TSX:ABX displays its Maple Leaf in the company’s section of the Teck Suite of Galleries at the Royal Ontario Museum in Toronto. A ROM spokesperson declined to discuss security arrangements.

The Ottawa mint has itself been victim of a heist, although not a caper likely to inspire admiration. Last month former employee Leston Lawrence was sentenced to 30 months and ordered to repay $190,000 or serve an additional 30 months. The court heard he snuck something like 22 gold “pucks,” weighing around 7.4 ounces each, out of his workplace and into the hands of buyers.

Among the evidence was a tube of Vaseline found in his locker. He smuggled the contraband in his rectum.

Coal mine could produce green, renewable electricity

March 17th, 2017

by Greg Klein | March 17, 2017

Should all go to plan, the transformation from dirty to clean energy might come to be symbolized by this German coal producer. A longstanding idea to convert mine shafts to hydro chutes got further encouragement in a March 14 speech reported by Bloomberg. North-Rhine Westphalia state governor Hannelore Kraft has declared her support for a project that would convert the Prosper Haniel coal mine into a pumped storage facility.

Coal mine could produce green, renewable electricity

Dirty old Prosper Haniel could get a new, clean lease on life.

Referred to as a type of battery, it would use excess wind or solar energy to pump water from a reservoir at the depths of the mine to another reservoir above the shafts. When wind or solar fails to meet demand, the water would be released, plunging something like 1,300 metres to electricity-generating turbines.

A 2014 article on Grist.org said the mine could store up to about 990,000 cubic metres of H2O, “roughly the volume of the Empire State Building.” That could produce a 200 megawatt capacity, enough to power more than 400,000 homes, Bloomberg reported.

Prosper Haniel’s mining days are expected to end in 2018, when federal subsidies for the industry expire. Other mines could follow this reincarnation as the coal mining region of North-Rhine Westphalia intends to double its production of renewable energy to 30% by 2025, Bloomberg stated.

According to the National Energy Board, Canada’s only pumped storage facility is the 174 MW Sir Adam Beck station operated by Ontario Power Generation, which diverts water from the Niagara River to a 300-hectare reservoir. The transition from turbine to pumping sequence takes just minutes and occurs several times a day, the utility states.

The NEB attributes over 30 pumped storage facilities to the U.S., producing about 23,000 gigawatt hours a year but using about 29,000 GWh to do so. “Despite this net loss of energy, the grid reliability provided by PSH facilities and the ability to generate when demand is strong is highly beneficial and will become increasingly important as Canada and the U.S. integrate more renewable power into their grids.”

How a Brexit could affect the gold price

July 7th, 2016

The precious metal’s recent run could just be getting started

by SmallCapPower.com | July 7, 2016

Gold was already one of the best-performing asset classes in 2016 before British citizens unexpectedly voted to leave the European Union on June 23. We believe this will turn out to be the most important catalyst for the precious metal since it began its most recent bull run.

How a Brexit could affect the gold price

Despite beginning the New Year below $1,100, gold had failed a few times to hold above the $1,300 level since its upward move began back in January. We feel confident that the Brexit uncertainty will hang over the markets for at least the remainder of 2016, providing a firm support above $1,300.

The most immediate catalyst likely coming gold’s way is U.S. employment data for the month of June, which is expected to be released on July 8. The Labor Department expects 170,000 new jobs to be created during the month.

Given May’s dismal 38,000 employment gain, only a figure well above 200,000 will create any potential headwinds for the precious metal.

This all leads to the next U.S. Federal Reserve meeting that is happening during the final week of July. Minutes from the last Federal Open Market Committee meeting (released on July 6) suggested that the impact of a Brexit would need to be more certain before the Fed would decide to raise interest rates again, all of which is good news for gold bulls.

Also helping gold is negative interest rates on long-term debt in Germany, France, Japan and, most recently, Switzerland, which has seen its 50-year interest rates go negative for the first time.

Could the United States be next? In fact, that country’s 10- and 30-year interest rates on July 6 reached all-time lows of 1.32% and 2.1% respectively. According to data released by Fitch Ratings, a record US$11.7 trillion of global sovereign debt has dipped to sub-zero yield territory.

Continue reading this article on SmallCapPower.com.

Volkswagen ponders a German Gigafactory

May 28th, 2016

by Greg Klein | May 28, 2016

A multi-billion-euro electric vehicle battery factory could be coming to Germany if Volkswagen approves the idea. The German business daily Handelsblatt said VW has the plan under consideration and might make an announcement at the firm’s annual meeting on June 22.

Volkswagen ponders a German Gigafactory

Volkswagen hopes models like the E-Up will improve
the company’s image as well as its revenues.
(Image: Volkswagen)

Citing unnamed company sources, Handelsblatt stated, “The company’s executive board looks likely to approve the plan, which is also supported in principle by the works council and the state of Lower Saxony, its major shareholder.”

The Dieselgate-bedevilled company hopes to expand its electric car sales to one million within a decade, according to the journal.

Earlier this month Benchmark Mineral Intelligence said at least 12 mega-factories are expected to be producing lithium-ion batteries by 2020.

While unveiling Tesla Motors’ Model 3 on March 31, CEO Elon Musk announced the company’s Nevada Gigafactory is “already operational today.”

Interview: Chris Berry discusses the lithium boom.

April 26th, 2016

China: Still the world’s number one heavy metal rock star Stockhouse
Germany to consider $1.3-billion electric vehicle sales boost NAI 500
SWOT analysis: Central bank over-reach benefits gold GoldSeek
Grid energy storage: The next big thing for li-ion?
Industrial Minerals
U.S. President Trump? President Clinton? Gold up in both scenarios Streetwise Reports
Are the criticisms against Trump’s trade policies fair? Equities.com
Tesla will need a lot of graphite and lithium—but China will need even more
Benchmark Mineral Intelligence
Gold stock rally’s market cap bias may surprise you SmallCapPower

April 22nd, 2016

Grid energy storage: The next big thing for li-ion? Industrial Minerals
U.S. President Trump? President Clinton? Gold up in both scenarios Streetwise Reports
Silver approaching bull market as prices rally to 10-month high NAI 500
What does Deutsche Bank’s confession mean for gold and silver investors? GoldSeek
Are the criticisms against Trump’s trade policies fair? Equities.com
Tesla will need a lot of graphite and lithium—but China will need even more Benchmark Mineral Intelligence
Gold had its best quarter in a generation. So where are the investors? Stockhouse
Gold stock rally’s market cap bias may surprise you SmallCapPower

April 21st, 2016

U.S. President Trump? President Clinton? Gold up in both scenarios Streetwise Reports
Silver approaching bull market as prices rally to 10-month high NAI 500
What does Deutsche Bank’s confession mean for gold and silver investors? GoldSeek
Are the criticisms against Trump’s trade policies fair? Equities.com
Tesla will need a lot of graphite and lithium—but China will need even more Benchmark Mineral Intelligence
Gold had its best quarter in a generation. So where are the investors? Stockhouse
The China Rare Earth Association takes stock Industrial Minerals
Gold stock rally’s market cap bias may surprise you SmallCapPower

April 20th, 2016

Silver approaching bull market as prices rally to 10-month high NAI 500
Looming zinc supply shortage good news for producers and explorers: Stefan Ioannou Streetwise Reports
What does Deutsche Bank’s confession mean for gold and silver investors? GoldSeek
Are the criticisms against Trump’s trade policies fair? Equities.com
Tesla will need a lot of graphite and lithium—but China will need even more Benchmark Mineral Intelligence
Gold had its best quarter in a generation. So where are the investors? Stockhouse
The China Rare Earth Association takes stock Industrial Minerals
Gold stock rally’s market cap bias may surprise you SmallCapPower