According to several people familiar with the fund’s plans, the owner of London retailer Harrods intends to invest about $10bn in metals and mining companies, of which more than $5bn will be in gold equities via a new vehicle referred to as “Qatar Gold”.
“They want a meaningfully producing multi-asset gold conglomerate,” said one person with knowledge of the fund’s plans. “They don’t want bullion – they want producing mines.”
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