Qatar Holdings, the foreign investment unit of the Gulf country’s sovereign wealth fund (SWF), is seeking to spend up to $10 billion to acquire stakes in gold producers through the SWF, The Telegraph reports. The fund intends to gain access to physical gold, as well as invest in a variety of natural resources. Qatar Holdings will allocate nearly $1 billion to London-listed miner European Goldfields. The investment includes $600 million to fund operations in Greece, where European Goldfields has authorization to mine gold, adds Reuters.
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