Gold Bullion (GOLD)

[CaptWhizbang]

Top Stories of the Day

Jun 05, 2012 (Dow Jones Commodities News via Comtex) --

TOP STORIES

Brief Labor Dispute Resolved at Xstrata Peru Copper Project

LIMA--A brief labor dispute at Xstrata Copper's Antapaccay copper project in southern Peru has been resolved and did not affect construction activities at the development, the company said Tuesday.
Peru's Humala Sees Coalition Fracture Over Mining Disputes

LIMA--The coalition that carried President Ollanta Humala to power has started to break apart, driven in good part by differences over how to manage mining sector disputes.
STORIES OF INTEREST

Vale CEO Optimistic on Chinese Demand in 2012 - Report

RIO DE JANEIRO--Vale SA (VALE) Chief Executive Murilo Ferreira blamed the iron-ore producer's falling share price on market pessimism over China's growth this year, Valor Economico newspaper reported Tuesday.
Norway's Giske: Government Ownership Important in Rough Times

OSLO--Norway's high share of government ownership could become more important in the case of further economic turmoil, Norway's minister of trade and industry said Tuesday, underlining the country's privileged position and comparing Europe to the sinking Titanic.
GLOBE & MAIL: Canada's Cameco Shuns Argentina

TORONTO (Globe and Mail)--Another Canadian miner has shied away from investing in Argentina, a country rich in mineral deposits but with a growing populist tang that is worrying the global mining industry.
Philex Mine Output in May Valued at PHP1.16 Billion, Up vs April

MANILA--Philippine gold and copper producer Philex Mining Corp. (PX.PH) said Tuesday its Padcal mine produced precious metals worth an estimated PHP1.16 billion ($26.8 million) in May, higher than PHP1.11 billion in April as increased production compensated for lower gold and copper prices.
China Regulator Warns Banks on Lending to Steel Plants - FT

China's bank regulator has warned banks to be more vigilant in lending to Chinese steel companies, as some have borrowed excessively and used the funds to speculate on property and stocks, the Financial Times reported Monday on its website, citing a directive issued April 26 but never published.
MARKETS

BASE METALS: Copper Declines as EU Uncertainty Grows

NEW YORK--Copper futures extended their losses for the fifth straight trading session, marking a fresh low for 2012 as a stronger dollar and ongoing worries about Spain weighed on prices.

Write to Nicole Friedman at [e-mail]

http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS_HIGHLIGHTS__Top_Stories_of_the_Day_179815328.html