PRECIOUS METALS HIGHLIGHTS: Top Stories of the Day

TOP STORIES

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 forecasts.

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 deficit.

MARKETS

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.

Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com

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  02-27-131505ET
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