PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day
01/17/2013| 02:41pm US/Eastern
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TOP STORIES
African Barrick Gold to Tackle Costs After Fourth-Quarter Output Rise
LONDON--The chief executive of Tanzania's largest gold miner, African Barrick Gold PLC (ABG.LN), said Thursday he plans to tackle costs in order to generate more cash flow after reporting higher gold output in the fourth quarter.
S Africa Mining Union Warns of More Protests
JOHANNESBURG--South Africa's mining sector could face more protests if companies dismiss more workers, the Association of Mineworkers and Construction Union said Thursday.
Austrian Central Bank Confirms Gold Reserves Policy
Austria's central bank Thursday confirmed its gold reserves policy, saying in a statement, "The Austrian Central Bank will continue to hold gold in Austria and in those European countries that have internationally recognized gold trading centers."
STORIES OF INTEREST
Peru's Buenaventura Expects to Finish 3 New Projects This Year
LIMA, Peru--Precious and base metals producer Compania de Minas Buenaventura SAA (BVN, BUENAVC1.VL) plans to finish three projects this year that will help increase output.
UPDATE: Rio Tinto to Book $14 Billion Charge, CEO Steps Down
MELBOURNE--Rio Tinto PLC (RIO.LN, RIO) said Thursday it would book a $14 billion impairment charge against the value of its aluminum and coal assets, and promoted the head of its iron ore operations to chief executive following the surprise announcement.
ETF Securities Hires Frank Spiteri as Retail Distribution Head
ETF Securities, a London-based exchange-traded product provider, has hired Frank Spiteri as head of retail distribution in a move to broaden its reach in the retail sector, the company said Thursday.
MARKETS
Comex Gold Rebounds to Hit 1-Month High After Philly Fed Data
NEW YORK--Gold climbed to a one-month high Thursday as a weak reading on mid-Atlantic manufacturing underlined the view that U.S. growth may not be robust enough for the Federal Reserve to pull back on its accommodative monetary policy.
Write to Matt Day at matt.day@dowjones.com
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