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Latino Daily News

Wednesday July 14, 2010

When Billions Aren’t Enough: Slim Buying Gold Mines

Everyone has always said that Mexican billionaire Carlos Slim Helu has the golden touch in business and now he actually has the gold as in gold mines.  Canada’s Goldgroup Mining announced that in a $25Million transaction it sold some of its gold mines to Carlos’ holding company, Grupo Carso.

The mines are located in Aguascalientes, Mexico and with gold trading at $1,200 per ounce, Slim can secure his crown as the “World’s Richest Man”.  Whether mining will prove to be as lucrative as running a telephone monopoly, like Telefonos de Mexico, remains to be seen.  Mexico is in dire need of claiming superiority somewhere and if its laying claim to the “World’s Richest Man” so be it. 

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