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Agnico-Eagle may fly gold from Mexico to avoid Trump's tariffs
By Danielle Bochove
Thursday, June 6, 2019
If push comes to shove, one of the world's largest gold miners is prepared to do an end run around the U.S. should President Donald Trump's threatened tariffs on Mexican goods bite.
Agnico Eagle Mines Ltd. currently produces about 300,000 ounces of gold in Mexico that it refines in the U.S., all of which would likely be subject to the proposed tariffs, Chief Executive Officer Sean Boyd said Wednesday. But he already knows how he'd respond to potential levies.
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Kinesis Engages Contis to Launch UK, European Debit Card for Its Digital Gold and Silver Currencies
Tuesday, June 4, 2019
LONDON -- Today Kinesis Money announces the initiation of its U.K. and E.U. debit card program with Contis Group, the award-winning platform as a service that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.
The release of these euro- and pound-denominated debit cards will cement Kinesis' position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis' clients in the U.K. and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks. ...
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"It's not expensive to fly a bar of gold," Boyd said in an interview at Bloomberg's Toronto bureau. "We would just refine it somewhere else. We could easily bring it to Canada."
Meanwhile, the Toronto-based company, Canada's second-largest gold miner, is reaping some benefits from U.S. isolationism. Global trade jitters have strengthened the U.S. dollar at the expense of the Mexican and Canadian currencies, significantly reducing Agnico's costs, he said.
In the hour-long interview, Boyd discussed a wide range of issues, from consolidation in the gold industry to the succession plan for a company he has helmed for more than 20 years. ...
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