Islamic finance body approves standard for gold-based products

Section:

By Bernardo Vizcaino
Reuters
Monday, November 28, 2016

The Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions said on Monday it had approved a sharia standard for gold-based products, a move aimed at expanding the use of bullion in Islamic finance.

Traditionally, gold has been treated as a currency in Islamic finance which has confined its use to spot transactions, but fresh guidance from the accounting organization is expected to spawn a wave of product development in the industry.

The organization approved the final version of the standard on gold and its trading controls during a meeting of its sharia board held last week, the industry body said in a statement seen by Reuters. ...

... For the remainder of the report:

http://www.reuters.com/article/islamic-finance-gold-idUSL8N1DT0FL



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Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...



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