PRECIOUS METALS HIGHLIGHTS : Top Stories Of The Day
01/31/2013| 10:18am US/Eastern
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TOP STORIES:
AngloGold Says Tropicana Project Costs Higher Than Planned
JOHANNESBURG--AngloGold Ashanti Ltd. (ANG.JO) said Thursday that it now expects to need a higher spend to get its Tropicana mine in Australia, due to start production in late 2013, up and running and a higher cash cost to produce.
Royal Gold 2nd-Quarter Net Up 16% on Strong Production, Pricing
Royal Gold Inc.'s (>> Royal Gold, Inc USA)) fiscal second-quarter profit rose 16% as increased production and higher average prices for gold and other metals boosted royalty revenue.
Lonmin Reports Small Drop in Platinum Output
JOHANNESBURG--Lonmin PLC (>> Lonmin Plc) Thursday reported only a slight drop in platinum production in the last three months of 2012 as it focuses on ramping up output following a debilitating strike last August.
STORIES OF INTEREST:
India Gold Jewelry Imports to Rise in 2013 due to Tax Disparity -Trade Executives
MUMBAI--Gold jewelry imports by India could surge in 2013 as the recent tax hike on imports of bullion has made direct jewelry imports more attractive, industry executives said Thursday.
Randgold Resources: Kibali Mine to Produce First Gold By End 2013
LONDON--Gold miner Randgold Resources Ld. (>> Randgold Resources Limited) said Thursday the Kibali gold project currently being developed in the Democratic Republic of Congo, in which it owns 45%, is scheduled to produce its first gold by the end of this year.
MARKETS:
Gold's Glow Fades As Traders Shift Focus To Employment Data
NEW YORK--Gold prices retreated from one week highs Thursday as some investors locked in profits on the recent rally while others took a cautious stance ahead of upcoming employment data.
WGC: Emerging Market Investors Can Use Gold to Reduce Currency Risks
Investors in emerging-market assets can use gold to reduce exchange-rate volatility and benefit from significant efficiencies, the World Gold Council said Thursday.
- Write to Philip Georgiadis at philip.georgiadis@dowjones.com
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