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Sunday, 9 October 2011

European Goldfields gives Qatar control option - The National

Qatar Holding has an option to take a controlling interest in European Goldfields to help it to command a presence in the global gold market, says the executive chairman of the gold miner.

The Gulf's fastest-growing economy is keen to invest in gold as it seeks to diversify its earnings away from natural gas.

The investment arm of Qatar's sovereign wealth fund signed a deal on October 1 with European Goldfields involving providing a US$750 million (Dh2.75 billion) loan for a 9.9 per cent stake, including $600m to finance gold production in Greece.