The Algerian government has decided to auction off a sizable quantity of fine gold for the benefit of jewellers and other traders involved in the gold business following the failure by the Agenor firm to duly commercialize Enor’s gold output.

The national needs in terms of solid gold are estimated at 3 tonnes annually while Algeria’s yearly production of this precious metal does not exceed 600 kilograms.

Gold extraction is mainly concentrated around the In Abki deposit in the southern Hoggar region.

The gold auction is now underway and has already attracted a great deal of potential buyers.

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Posted: 11|13|07 at 9:35 am. Filed under: Auction News.