PRECIOUS METALS HIGHLIGHTS : Top Stories Of The Day
05/16/2012| 10:26am US/Eastern
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TOP STORIES:
African Barrick Gold Agrees Voluntary Tanzanian Royalty Rise
African Barrick Gold PLC (ABG.LN), the largest gold miner in Tanzania, has agreed to voluntary pay the country's government an additional 1% royalty, taking the total royalty rate to 4% following government negotiations on how to distribute the rewards of a high gold price more equitably.
STORIES OF INTEREST:
Pan American Silver 1Q Net Falls 46% On Acquisition, Other Costs
Pan American Silver Corp. (PAAS, PAA.T) first-quarter profit fell 46% as expenses tied to the acquisition of a Mexican gold and silver operation masked a jump in revenue.
MARKETS:
Spot Gold Lower Still; Greek Events In Focus
Spot gold's losing streak persists Wednesday, sliding to a new four-and-a-half-month low as fears that Greece will exit the euro pressure the single currency and prompt investors to continue to shed their exposure to bullion in favor of cash and the dollar.
-By Jonathan Robins, Dow Jones Newswires; 4420-7842-9285; Jonathan.Robins@dowjones.com
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