Special Report: Philippines' black market is China's golden connection
http://www.reuters.com/article/2012/...87M02120120823
Quote:
Up to 90 percent of small-scale Philippine gold production is being smuggled out of the Southeast Asian country, according to estimates from officials and traders, much of it to China.
The potential revenue being lost is considerable: The Philippines, the world's 18th largest gold miner, produced just over 1 million troy ounces of gold in 2011, worth $1.6 billion at current prices. About 56 percent of that came from small-scale miners, data from the Bureau of Mines showed.
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Australia fighter jets first to get hi-tech U.S. jammers
http://www.reuters.com/article/2012/...87M0A820120823