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Daily Dispatches
ECB President Lagarde's pay is 50% higher than disclosed by the central bank
Submitted by admin on Fri, 2026-01-02 09:32 Section: Daily DispatchesBy Olaf Storbeck
Financial Times, London
Friday, January 2, 2026
European Central Bank president Christine Lagarde's full pay is more than 50% higher than her disclosed salary, according to a Financial Times analysis.
The head of Europe's monetary authority earned a total of about E726,000 in 2024, according to the FT's calculations, some 56% higher than the "basic" salary of €466,000 disclosed by the ECB in its annual report.
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China names companies allowed to export silver, tungsten, and antimony
Submitted by admin on Thu, 2026-01-01 10:53 Section: Daily DispatchesFrom Reuters
Tuesday, December 30, 2025
BEIJING -- China today named the companies that will be able to export tungsten, antimony, and silver during the 2026 and 2027 period, metals Beijing deems as critical to support its own industries.
A total of 44 companies will be allowed to export silver, while the numbers for tungsten and antimony will be 15 and 11 respectively, the Ministry of Commerce said in a statement. That's two more than in 2025 for silver, while tungsten and antimony are unchanged.
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Sean Ring: Here's the patron saint of sound money
Submitted by admin on Thu, 2026-01-01 10:44 Section: Daily DispatchesBy Sean Ring
Daily Reckoning, Baltimore
Thursday, January 1, 2026
Long before Powell "paused," Lagarde fibbed, or Yellen got lost mid-sentence, one man quietly built an economy of trust -- with fire, gold, and grit.
He was Saint Eligius. You probably haven't heard of him unless you're a medieval goldsmith or a devout Catholic with a taste for obscure hagiographies. But I'd argue that he did more for monetary integrity than any central banker alive today.
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Central banks enter the gold trade to choke off smuggling
Submitted by admin on Thu, 2026-01-01 00:11 Section: Daily DispatchesBy Leslie Hook
Financial Times, London
Thursday, January 1, 2026
In the African island nation of Madagascar, central bank governor Aivo Andrianarivelo has an unusual mission: to end gold smuggling.
Madagascar produces as much as 20 tonnes of gold per year, he estimates, worth about $2.8 billion at today's prices, but almost all of that leaves the country illegally, robbing state coffers of tax revenues and foreign exchange.
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Ethiopia moves to become Africa's next gold powerhouse with $340 million mine
Submitted by admin on Wed, 2025-12-31 15:54 Section: Daily DispatchesBy Solomon Ekanem
Business Insider, New York
Wednesday, December 31, 2026
Ethiopia's long-delayed Tulu Kapi gold project has reached a major turning point after securing about $340 million in development financing, clearing the way for construction of one of the country's largest modern gold mines.
The funding package includes roughly $240 million in long-term debt from African development lenders and about $100 million in equity, providing KEFI Gold and Copper, the project's developer, with the financial backing needed to move into full-scale construction.
Canada is a gold-export powerhouse, but how much is that helping the economy?
Submitted by admin on Wed, 2025-12-31 15:42 Section: Daily DispatchesBy Jason Kirby
The Globe and Mail, Toronto
Tuesday, December 30, 2025
https://www.theglobeandmail.com/business/article-canada-gold-exporting-powerhouse-economy-benefits/
Gold spurs Ghana's currency to first annual gain since at least 1994
Submitted by admin on Wed, 2025-12-31 10:40 Section: Daily DispatchesBy Moses Mozart Dzawu
Bloomberg News
Wednesday, December 31, 2026
Ghana's currency posted an annual gain against the dollar for the first time in more than three decades as Africa's biggest gold producer benefited from rising prices of the metal and the greenback's weakness.
Chinese mining companies in Zambia start paying taxes in yuan
Submitted by admin on Wed, 2025-12-31 10:32 Section: Daily DispatchesBy Matthew Hill and Taonga Mitimingi
Bloomberg News
Wednesday, December 31, 2025
Chinese mine operators in Zambia have started paying royalties and taxes in yuan in Africa's second-biggest copper producer, the latest sign of the growing acceptance of the currency on the continent.
Payments using the Chinese unit began in October, the Bank of Zambia said in reply to emailed questions today. The Zambian authorities are the first in Africa to confirm they are accepting mining-tax payments in renminbi.
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Charlie Garcia: China just nationalized silver without nationalizing a single mine
Submitted by admin on Wed, 2025-12-31 09:21 Section: Daily DispatchesBy Charlie Garcia
MarketWatch, New York
Tuesday, December 30, 2025
Silver prices got crushed on Monday. By Thursday it may not matter.
On Jan. 1 China's new export-licensing regime takes effect, putting government gatekeepers between 121 million ounces of annual silver exports and the rest of the world. That means 60%-70% of the globally traded refined supply will require Beijing's permission to leave the country.
As gold hits records, Indians opt for bars and coins over jewelry
Submitted by admin on Wed, 2025-12-31 00:45 Section: Daily DispatchesBy Rajendra Jadhav and Polina Devitt
Reuters
via The Straits Times, Singapore
Tuesday, December 30, 2025
For nearly two decades, Mumbai homemaker Prachi Kadam marked every festive season with a gold jewelry purchase, blending tradition with personal style.
2025's record rally in prices, however, led her to choose a 10-gram gold coin instead of necklaces or bangles.
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