PRECIOUS METALS HIGHLIGHTS: Top Stories of the Day
Kazakhstan Builds Gold Reserves
Kazakhstan is planning a considerable increase to its gold reserves that now stand at 115 metric tons, the National
Bank of Kazakhstan said Wednesday.
STORIES OF INTEREST
LBMA: Jan Gold Ounces Transferred Down 4.8% On Month; Silver Up 13%
Gold ounces transferred in January this year fell 4.8% on month, while silver ounces transferred rose 13%, the London
Bullion Market Association said Wednesday.
UPDATE: First Quantum Extends Inmet Bid To March 11 - Filing
TORONTO--First Quantum Minerals Ltd. (FM.T) extended its hostile 5.1 billion Canadian dollar ($4.97 billion) cash-and-
stock bid for rival copper miner Inmet Mining Corp. (IMN.T) to March 11 because it's still waiting for Canada's industry
ministry to sign off on the proposed deal.
Peru Sees Mining Investments of $19.5 Billion in 2013 and 2014
LIMA, Peru--Mining investments in Peru are expected to increase significantly over the next two years, as companies
advance new mines and expansion projects in one of the world's biggest metals producers, according to government
ENRC Eyes Higher-Than-Expected Taxes, Write-Downs On Investments
LONDON--Kazakhstan-focused Eurasian Natural Resources Corp. (ENRC.LN) said Wednesday it will report a higher-than-
expected effective tax rate for 2012 and will likely recognize significant noncash impairment charges against the value
of certain aluminum, copper and platinum assets when it releases its full-year results next month.
Barrick Says Protesters End Blockade to Peru Mine
LIMA, Peru--Canada's Barrick Gold Corp. (ABX, ABX.T), the world's largest gold producer by output, said that a
blockade preventing access to its Lagunas Norte mine in northern Peru has been lifted.
South African Budget Deficit Squeezes Government's Investment Plans
PRETORIA--South Africa's finance minister Wednesday reaffirmed plans to build new infrastructure and find work for
disenfranchised youths, even as he acknowledged that a weak economy was curtailing tax revenue and pushing up the budget
Gold Ends Below $1,600 After Bernanke Comments
NEW YORK--Gold futures settled below $1,600 Wednesday, amid renewed concerns the Federal Reserve would roll back its
monetary easing measures sooner than investors expect.
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