Friday, June 29, 2012

Japan's May gold exports drop to 15-month low

Thursday , 28 Jun 2012
The gold price peaked above $1570 ahead of the latest Euro-debt talks and analysts reckon we might get some renewed investor interest, mainly sovereign wealth funds and central banks looking to buy as prices edge lower. Thursday , 28 Jun 2012
Bankers with knowledge of the matter say the new revolving loan facility is an early refinancing of a $1 billion four-year deal maturing in April 2014 and could be increased during syndication. Thursday , 28 Jun 2012
CEO Herbert Wirth says the company will go ahead with its core business investment despite having to pay out a dividend to the Polish treasury 30% above the level proposed by management. Thursday , 28 Jun 2012
Prices fell to $1,568.80 an ounce on Thursday, influenced by pessimistic expectations for a EU summit that is unlikely to yield new measures needed to tackle the region's debt crisis. Thursday , 28 Jun 2012
Japan saw its gold exports plunge to a 15-month low in May, down 67% from a year ago, as sales of gold bars and jewellery by consumers fell sharply after prices eased. Thursday , 28 Jun 2012
Gold added $1.19 an ounce to $1,575.59 on Thursday after the Euro showed some resilience ahead of the two-day European Union summit in Brussels, which is unlikely to result in new measures to tackle the debt crisis. Thursday , 28 Jun 2012
Prices climbed for a fourth consecutive session early Thursday; however an EU summit later in Brussels could limit gains as markets fret over Europe's divisions on how to fight and subdue its debt. Thursday , 28 Jun 2012
The 57-year-old aluminium smelter is among an estimated $8 billion worth of assets bundled by Rio Tinto into its newly formed Pacific Aluminium division ahead of a possible divestment. Thursday , 28 Jun 2012
As long as the market remains as volatile as it currently is, miners will resist pressure from steel makers to conclude longer term pricing agreements, a senior Vale executive said. Wednesday , 27 Jun 2012
A senior government official said Wednesday the state is considering cancelling some mineral rights in areas some considered strategic and compensating mining firms for prospecting work done on those claims. Wednesday , 27 Jun 2012
Some media had speculated that the Polish Treasury Ministry, which oversees state assets and controls KGHM, was looking to replace CEO Wirth because of differences over strategy. Wednesday , 27 Jun 2012
London-listed miner Archipelago Resources, which runs the Toka Tindung gold mine in north Sulawesi, has also targeted average gold production of 160,000 ounces over the next six years. Wednesday , 27 Jun 2012
The gold price eased on Wednesday as expectations faded that this week's European Union summit in Brussels would do much to ease the euro zone debt crisis. Wednesday , 27 Jun 2012
The pace of growth, in line with market expectations, reflects massive work from Rio Tinto and BHP Billiton to dig more mines amid predictions that China will maintain strong industrial growth. Wednesday , 27 Jun 2012
According to BlueScope Steel, the country's largest steelmaker, the probe will cover steel hot rolled coil from Japan, Malaysia, South Korea and Taiwan. Wednesday , 27 Jun 2012
Sources say Chile's Escondida copper mine, majority-owned by BHP Billiton, has agreed on mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound. Wednesday , 27 Jun 2012
The global steel industry is already hunkering down for a fresh round of closures and trade disputes as companies allege that rivals are dumping cheap metal on the market, threatening to trigger mini-trade wars. Wednesday , 27 Jun 2012
Expectations are rising that policies could swing too far in the opposite direction, imposing more controls to redistribute mining wealth in a way that pleases voters.

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Source: http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=154177&sn=Detail

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