World's Largest Gold Nugget Now Worth Billions

SHIZOUKA, Feb 28 (News On Japan) - The world's largest gold nugget, certified by Guinness World Records, is currently on display in Izu, weighing in at 250 kilograms.

The giant nugget was successfully cast by Mitsubishi Materials in June 2005, when the gold market price was 1,600 yen per gram, giving it an approximately value of 400 million yen at the time.

The gold market price has since exceeded 10,000 yen per gram, bringing the market value of the nugget to 2,715,250,000 yen as of February 26.

The nugget is currently on display at the Toi Gold Mine tourist facility in Izu City, Shizuoka Prefecture, where visitors can actually touch the precious metal.

Kokubun Ayumu, Section Chief at Toi Gold Mine, expressed his astonishment, "I am simply amazed at the 2.7 billion yen value. If this trend continues, it might reach 3 billion yen by summer. However, the rise in gold prices is partly due to global uncertainties, so it's a mixed feeling of joy."

Japan-Bound Tanker Clears Strait of Hormuz

An Idemitsu Kosan crude oil tanker has safely passed through the Strait of Hormuz, becoming the first vessel bound for Japan to do so since attacks on Iran heightened tensions in the region and effectively disrupted maritime traffic.

Golden Week Crowds Seen From Above

Japan’s Golden Week holiday period got fully underway on April 29, drawing large crowds to major tourist destinations and airports, where long lines formed as overseas travel surged.

Giant Bears Return to Hokkaido

A series of sightings involving unusually large brown bears in Hokkaido has heightened concerns among local residents, with one 330-kilogram animal captured in Tomamae and another 280-kilogram bear attacking a hunter in Shimamaki.

Golden Week Travel Kicks Off

Full-scale Golden Week travel began on April 29, with Chubu Centrair International Airport experiencing its busiest outbound travel day of the holiday period. The airport was crowded from the morning with vacationers heading overseas.

Japan Faces Higher Power and Gas Bills

Electricity and gas bills for usage in May will rise slightly in Japan, with the impact of tensions involving Iran expected to appear in utility charges from June onward. Larger increases could follow in subsequent months.

MEDIA CHANNELS

MORE Business NEWS

Japan Faces Higher Power and Gas Bills

BOJ Keeps Interest Rate at 0.75% for Third Straight Meeting

The Bank of Japan decided to leave interest rates unchanged, opting against an additional rate hike for now, after its monetary policy meeting concluded earlier with a majority vote to maintain the policy rate at 0.75%, marking the third consecutive meeting at which rates were left unchanged.

Hot Springs Cut Operating Hours as Fuel Supply Tightens

Shizuoka City said it will shorten operating hours at three municipally run hot spring facilities from May 7 for the time being, after instability in heavy oil supplies linked to the situation in Iran.

Tomato Growers Face Fresh Squeeze as Costs Climb

Prolonged tensions in the Middle East are beginning to affect everyday vegetables in Japan, with tomato farmers facing higher costs and shortages of packaging materials.

Closure of Strait of Hormuz Hits Japan Car Exports

The impact of the effective closure of the Strait of Hormuz is spreading to Japan's export industries, dealing a fresh blow to automakers and other companies reliant on Middle East trade routes.

Tokyo Stocks Surge to New High

The Nikkei Stock Average rose by more than 1,100 points at one stage in trading on the Tokyo Stock Exchange on Monday. Following gains in semiconductor-related shares on the New York market on June 24, buy orders flowed into AI and chip-related stocks in Tokyo, lifting the Nikkei back above the 60,000 level.

Japan Cuts Refinery Runs as It Races to Replace Middle East Crude

Japan has reduced refinery operating rates as it scrambles to secure alternative crude supplies following disruptions to shipments through the Strait of Hormuz, underscoring the growing strain on one of Asia’s most import-dependent energy markets.

US Crude Oil Arrives in Japan as Alternative Supply

American crude oil secured as an alternative supply source has arrived in Japan for the first time, as the de facto closure of the Strait of Hormuz makes procurement from the Middle East increasingly difficult.

< 2 3 4 5 >