PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day
03/07/2013| 04:33pm US/Eastern
Jubilee Platinum Sees Profitable Mining Within Six Months of Merger
LONDON--South Africa-focused platinum miner Jubilee Platinum PLC (>> Jubilee Platinum PLC) expects to have a profitable mining operation within six months of the completion of its merger with Platinum Australia Ltd. (>> Platinum Australia Limited), Jubilee Chief Executive Leon Coetzer said Thursday.
STORIES OF INTEREST
London Commodity Brokers Shuts HK Office, Trims London Staff -Source
The company shut its Hong Kong office in December, and made three London brokers redundant--one iron ore swaps broker and two dealing with physical coal and iron ore--in late February, the person said.
TIP SHEET: Fidelity Fund Shuns Mining, Favors Chemicals
During the three years ended Tuesday, the Fidelity Select Materials fund returned 12.6%, according to fund tracker Morningstar Inc. That's nine percentage points ahead of the average return in Morningstar's natural resources fund category, good enough for the sixth-highest return out of 118 funds in the category. Morningstar rates the fund five out of five starts.
Ariana Resources: JV Partner Starts Sole Funding of Red Rabbit Project
LONDON--Ariana Resources PLC (>> Ariana Resources plc), a gold exploration and development company, announced Thursday that its Joint Venture partner, Proccea Construction Co., committed to sole funding of the Red Rabbit Gold Project in Western Turkey in advance of receiving Environmental Impact Assessment positive certification.
Comex Gold Near Steady for Second Day Ahead of US Jobs Report
NEW YORK--Gold futures shuffled sideways for a fourth consecutive session on Thursday, with investors content to stick to the sidelines ahead of Friday's closely watched reading on U.S. unemployment.
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