PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day
02/20/2013| 05:27pm US/Eastern
AngloGold CEO Expects S Africa Mining Accord to Be Reached This Week
The chief executive of South African gold miner AngloGold Ashanti Ltd. (ANG.JO) said Wednesday that he expects an industry-wide accord with the country's government and labor unions to be struck as soon as this week to stem the recent violent outbreaks in the nation's mining industry.
STORIES OF INTEREST
Russia's Gold Reserves Rise 1.3% to 31.2M Troy Ounces at Feb 1
MOSCOW--Russia's gold reserves totaled 31.2 million troy ounces as of Feb. 1, the central bank said Wednesday, a rise of 1.3% compared with the month-earlier date.
India Trade Ministry Seeks to Suspend Gold Jewelry Imports From Thailand
MUMBAI--India's trade ministry is seeking to suspend gold jewelry imports from Thailand, following complaints from local jewelers that preferential duty rates offered under a bilateral pact were being used to avoid paying higher import taxes on bullion.
Norseman Gold: CNGC Administrators to Hold Creditors Meeting Feb 21
LONDON--Norseman Gold PLC (>> Norseman Gold Plc.) said Wednesday the administrators of its principal operating subsidiary Central Norseman Gold Corporation Ltd., or CNGC, will hold a meeting of creditors on Feb. 21 to make a decision by passing a resolution in respect of the options available to them.
Polymetal International to Buy Maminskoye Gold Deposit for $95.5M
LONDON--Polymetal International PLC (>> Polymetal International PLC), a Russian gold and silver producer, said Wednesday its wholly owned subsidiary JSC Polymetal has entered into a binding memorandum of understanding with Vitalex Investments Ltd. and Arrowline Investments Ltd. to buy ZAO Maminskaya Gornorudnaya kompania, which holds an exploration and mining licence for the Maminskoye gold mining field valid until 2023, for an enterprise value of $95.5 million.
Comex Gold Hits Seven-Month Low, Extend Losses on Fed Minutes
NEW YORK--Gold slumped to a seven-month low Wednesday, extending its earlier losses as details from the Federal Reserve's latest policy meeting outlined more debate about when to curtail the central bank's stimulus program.
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