Video Viewpoint

Seasoned investment professionals, sector-dedicated analysts, and creative thinkers are at the heart of our business. Get their perspective on today's market climate.

All Videos

Video Transcript

Global Research: Mining in Greece


JOE FOSTER: We recently took a research trip to Greece for two reasons: to gauge the geopolitical landscape in Greece after all the turmoil that we have been reading about in the papers, and secondly, to see what the potential is for gold mining in Greece. Regarding the geopolitical situation, Greece was the first one to fall in the EU in terms of their debt problems. That has been one of the drivers of the gold price.


You do not really see breadlines or the things we associate with the Depression of the 1930s, but when you speak to people, you do find that a lot of people are having a really, really tough time. People are having trouble just affording necessities for their families. Everyone knows someone who is having those types of difficulties. As you get out of the core of the cities, you see shops that are empty and restaurants without many customers.


Mining in Greece


FOSTER: We visited several gold properties in Greece and these are properties that have been around for quite some time. In fact, they would have been developed in the last cycle, back in the 1990s, if Greece was friendlier towards mining. The country has always had concerns about environmental liabilities, cultural issues and things of that nature towards mining. More recently, the country needs economic growth. They need jobs. They have taken a second look at mining and we are actually seeing these gold properties being developed. They have created a fast-track program for businesses — not just for mining, but for all businesses where permits have a timeline for approval or disapproval, whatever the case may be—they're trying to move these projects forward to generate the jobs that the country needs. These are robust gold properties. Again, they were economic in the 1990s — they are very profitable properties today at current gold prices. That is one exciting development that we are seeing out of Greece.


 - - - - - - - - - -

IMPORTANT DISCLOSURE

< br/>

The views and opinions expressed are those of the speaker and are current as of the video’s posting date. Video commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. All performance information is historical and is not a guarantee of future results. For more information about Van Eck Funds, Market Vectors ETFs or fund performance, visit vaneck.com. Any discussion of specific securities mentioned in the video commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.


 

Please note that Van Eck Securities Corporation offers investment products that invest in the asset class(es) included in this video. Gold-related investments are subject to risks associated with precious metals, market risk, industry concentration, inflation, foreign securities, frequent trading, short-sales, leverage, and non-diversification.


 

Investing involves risk, including possible loss of principal. An investor should carefully consider investment objectives, risks, charges and expenses of the investment company before investing. Call 800.826.2333 or click below to obtain a prospectus and summary prospectus which contain this and other information. Please refer to the Fund’s prospectus and summary prospectus, which should be read carefully before you invest. A Fund prospectus is available at vaneck.com


No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Van Eck Securities Corporation. © 2012 Van Eck Securities Corporation.


Van Eck Securities Corporation, Distributor

335 Madison Avenue, New York, NY 10017