Tether, the issuer of the USDT stablecoin, has announced plans to significantly strengthen its presence in the gold mining industry. According to media reports, the organization is considering investing substantial funds across various stages of the production chain—from ore extraction to financing companies that purchase gold deposits in exchange for royalties.
This is reported by Business • Media
Negotiations and Key Players
It is known that Tether has already conducted negotiations with several potential partners, including Terranova Resources. However, these discussions did not result in a deal. Representatives of Terranova Resources are currently not commenting on the situation.
Recently, on September 4, Tether entered into an additional agreement with Elemental Altus for $100 million. Elemental Altus specializes in financing gold mining enterprises in exchange for royalties and favorable terms for purchasing precious metals. Additionally, Elemental Altus has completed a merger with EMX, strengthening its market position.
“One source told the publication that the company ‘hardly has a strategy’ and ‘just likes gold.’
Previous Investments and the Role of Gold for Tether
Earlier, Tether invested over $89 million in Elemental Altus. These investments are aimed at supporting counterparties in the gold mining sector, allowing the company to earn royalties and advantages when purchasing precious metals.
In addition to its investment activities, Tether also holds a significant reserve of physical gold, which is used as collateral for the XAUT stablecoin. This strategy enables the company to strengthen its position in the digital asset market by using physical gold as an additional security asset.