PRECIOUS METALS HIGHLIGHTS: Top Stories of the Day
First Published Friday, 22nd June 2012 09:04 pm - © 2012 Dow Jones
Peru Government, Anti-Mining Activists Advance Negotiations
LIMA--Peru's executive branch and anti-mining activists reached an agreement late Thursday to form three negotiating groups aimed at allowing mining to proceed in the Espinar region of southern Peru.
ZKB ETF Gold Holdings Up 0.9% Since June 11; Silver Up 0.6%
LONDON--Gold holdings in the exchange-traded fund of Zurich Cantonal Bank, or ZKB, rose 0.9% in the 10 days between June 11-21, according to ZKB data Friday.
STORIES OF INTEREST
Peru's Finance Minister: Strengthening Sol a Challenge for Exporters
LIMA--Finance Minister Luis Miguel Castilla said Friday the strengthening of Peru's sol against the U.S. dollar will continue to be a challenge for exporters in the Andean country.
Glencore CEO: China Slowdown Less Worrying Than 2008
ST. PETERSBURG, Russia--Signs that China's economy may be slowing down is less worrying than when growth slackened in 2008 because this time the reasons for the pullback are part of a deliberately managed process by the Asian giant, said Glencore International PLC (GLEN.LN) Chief Executive Ivan Glasenberg.
Brazil's Vale, Australia's Pacific Hydro to Invest BRL650 Million in Wind-Power Plants
SAO PAULO--Brazilian mining giant Vale SA (VALE, VALE3.BR) and Australia's Pacific Hydro will invest 650 million Brazilian reais to build two wind-power farms in northeastern Brazil, Vale said in a statement.
Glencore: Bolivian Government to Nationalize Colquiri Mine
LONDON--Swiss commodity firm Glencore International PLC Friday said the government of Bolivia has decided to nationalize the Colquiri mine with immediate effect. Glencore said it strongly protests the action taken by the Bolivian government.
Commodities Extend Losses as Sentiment Continues to Sour
Most commodity markets are extending their downward march Friday as concerns over the global economy continue to weigh on market sentiment.
AngloGold Ashanti: Fatality at Moab Khotsong Mine, Drilling Halted
LONDON--AngloGold Ashanti Ltd. (AU, ANG.JO), a global gold producer operating in 11 countries, Friday disclosed a fatal accident Thursday at its Moab Khotsong mine near Orkney in South Africa, and it has now suspended all drilling and blasting operations at the mine, though safety-related activities, such as installing support, continue.
Trans-Siberian: April-May Mine Development 674 Meters; Extracted 20,080 Tonnes Ore
LONDON--Trans-Siberian Gold PLC (TSG.LN), an investor in gold-mining assets in Russia, said Friday that mine development in April and May comprised 674 meters, while ore extraction amounted to 20,080 metric tons, with an average of 10,284 being processed through the Asacha plant per month.
Herencia Resources More than Triples Patricia Resource Estimate
LONDON--Northern Chile-focused miner Herencia Resources PLC (HER.LN) said Friday its consultant has more than tripled the measured and indicated resource estimate for its Patricia zinc, silver and lead project, as well as increasing the total resource estimate by 29%, after analyzing the company's 2011 drilling results.
PRECIOUS METALS: Silver's Slide Persists, Gold Wavers Slightly
NEW YORK--Silver hit a 19-month low Friday, suffering from sagging demand as both an industrial and investment metal.
Write to Nicole Friedman at email@example.com.