PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day

06/25/2012| 05:22pm US/Eastern

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   TOP STORIES 
 
Peru's Humala Supports Minas Conga Mine Project 

LIMA--President Ollanta Humala has given strong support to the stalled Minas Conga project, following an announcement by Minera Yanacocha that it plans to proceed with construction of the $4.8 billion copper and gold mine.

 
Lonmin Closes Shaft at Marikana Mine After Fatality 

JOHANNESBURG--Lonmin PLC (>> Lonmin Plc), a South Africa-based producer of platinum group metals, said Monday that it closed one of its Marikana mine shafts following a fatality last week.

 
   STORIES OF INTEREST 
 
Kores's Bolivian Mine Resources Worth $8 Billion - Report 

Korea Resources Corp., or Kores, has found mineral reserves worth $8 billion at its Corocoro mine project in Bolivia, the president of the country's state mining company told local newspaper La Razon.

 
Canada International Reserves Down $473M in Week Ended June 23 

Canada's official international reserves fell $473 million in the week ended June 23, the Bank of Canada reported on its website.

 
Anglo Asian Mining Names Sean Duffy Chief Financial Officer 

LONDON--Anglo Asian Mining PLC (>> Anglo Asian Mining Plc), an AIM listed gold producer, said Monday it has appointed Mr. Sean Duffy Chief Financial Officer with immediate effect, replacing Andrew Herbert who has stepped down in order to concentrate on his other business interests.

 
Vatukoula Gold Mines CEO Buys 50,000 Shares/GBP0.27 VGM.LN 

LONDON--Vatukoula Gold Mines PLC (>> Vatukoula Gold Mines Plc), which 100% of the Vatukoula Gold Mine in Fiji, said Monday that Chief Executive Officer, David Karl Paxton, bought 50,000 ordinary shares on June 22 at 0.27 pounds each, and now holds 225,000 shares, or 0.19%.

 
Nyota: Bendokoro, Tulu Kapi Drilling Shows Mineralization Potential 

LONDON--Nyota Minerals Ltd. (>> Nyota Minerals Limited), an East Africa-focused gold exploration and development company, Monday said the latest assay results from drilling at Bendokoro and Tulu Kapi demonstrate the gold mineralization potential that exists at the company's exploration assets.

 
Australia Hits Back at Glencore CEO's Criticism of Tax Hike 

ST. PETERSBURG, Russia--Australia's minister for energy and resources, Martin Ferguson, said Sunday he was "delighted" miner Xstrata PLC (>> Xstrata PLC) continues to invest in his country, and dismissed criticism by Glencore International PLC (>> Glencore International Plc) Chief Executive Ivan Glasenberg last week that the 30% tax on iron ore and coal, passed by the Labour government last year, was tantamount to nationalism.

 
Richland Resources 2011 Profit Jumps To $0.8M RLD.LN 

LONDON--Richland Resources Ltd (>> Richland Resources Ltd), a gemstones producer and developer, Monday reported a significant jump in pretax profit for 2011, and said that continues to develop new markets, especially China, and in-house cutting and polishing facilities to maximize margins.

 
Anglo American, Codelco Agree to Extend Talks Over Anglo American Sur 

LONDON--Mining company Anglo American PLC (>> Anglo American plc) said Monday it and Codelco have agreed to extend the period for exploring the possibility of negotiating an agreement in relation to Anglo American Sur.

 
   MARKETS 
 
PRECIOUS METALS: Gold Rises Ahead of Comex Options Expiration 

NEW YORK--Gold futures rallied Monday as investors adjusted their holdings ahead of gold options expiration Tuesday and on U.S. economic data pointing to weaker growth.

Write to Nicole Friedman at nicole.friedman@dowjones.com

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