The Soviet republic of the Ukraine says it will attempt to recover gold deposited by a soldier in the vaults of the Bank of England 270 years ago, according to a report by the Reuters news service. The report says the cache could be worth US$29 trillion if accrued interest were applied to current gold prices.
Although the Bank of England says it has no record of the claim in its safe deposit accounts, Ukrainian ambassador Gennady Oudovenko says the republic is not playing historical games. “Don’t anybody consider this a legend,” he told Reuters. “This is reality.”
A claim has been launched for the return of the gold which the Ukrainians say was deposited in Britain’s central bank by Ukrainian military leader Colonel Pavel Polubotok.
He willed the gold to a sovereign and independent Ukraine and then died a captive of Czar Peter the Great. The Ukraine declared itself to be a sovereign nation, July 16.
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File: MAGNESIUM
Aug. 22 dw – magnesium plant
Startup troubles at magnesium plant
A new magnesium plant near High River, Alta., is over budget and months away from full production.
The plant, owned by Magnesium Co. of Canada, or Magcan, is operating at about 100 tonnes magnesium per month. Plant capacity is 1,000 tonnes per month.
Magcan is owned jointly by Alberta Natural Gas Co. and Magnesium International Corp. of Houston. Provincial loan guarantees for the project currently exceed $100 million.
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