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DJ PRECIOUS METALS UPDATE: Gold Surges In Technical Trade(Comtex Business)Dec 27, 2005 (Dow Jones Commodities News via Comtex) --TOP STORIES: NY Precious Metals Review: Gold Surges In Technical Trade Chart-based buying enabled New York gold and silver futures to finish sharply higher on Tuesday, traders and analysts said. However, they emphasized that volume remained unusually light after Christmas and price moves may have been exaggerated as a result. Dumping By Freeport McMoRan Shielded By Indonesia -NYT NEW YORK (Dow Jones)--Freeport-McMoRan Copper & Gold Inc. (FCX), has been shielded by a web of political and military ties from pressures to clean up its waste dumping practices at the world's largest gold mine, located in a remote Indonesian province on the island of New Guinea, The New York Times reported Tuesday. Newmont Sees Higher Spending At Peru's Yanacocha- Report LIMA (Dow Jones)--Newmont Mining Corp.'s (NEM) South American unit expects investments of some $300 million in the Yanacocha gold mine operations in 2006 after spending some $240 million this year, Newmont South America director Carlos Santa Cruz was quoted as saying Monday in newspaper El Comercio. Russia's Khanty-Mansi Bank Buys 20 Tns Gold, 85 Tns Silver MOSCOW, Dec 26 (Prime-Tass) -- Russia's Bank of Khanty-Mansiysk has bought 31.9 tonnes of gold and 130 tonnes of silver so far this year, the bank said Monday. STORIES OF INTEREST: Crosby Slams Antofagasta Bid For Tethyan Copper Stake LONDON (Dow Jones)--Crosby Capital Partners Inc. struck out Friday at Antofagasta PLC's (ANTO.LN) deal comprising commitments for $133 million to acquire a 19.95% stake and additional project rights in Tethyan Copper Co. Ltd. (TYC.AU), a Perth, Australia-based junior with Pakistan mining assets. Barrick Gold CEO: Placer Dome Deal Unlikely To Break Up NEW YORK (Dow Jones)--A breakup of Barrick Gold Corp.'s (ABX) bid to buy Placer Dome Inc. (PDG) for $10.4 billion is unlikely, said Greg Wilkins, chief executive of Barrick Gold. Placer Agrees To Friendly Takeover Deal With Barrick TORONTO (Dow Jones)--Barrick Gold Corp. (ABX) and Placer Dome Inc. (PDG) have agreed to a friendly deal pursuant to which Barrick will acquire Placer. MARKETS: NY Precious Metals Review: Gold Surges In Technical Trade Chart-based buying enabled New York gold and silver futures to finish sharply higher on Tuesday, traders and analysts said. However, they emphasized that volume remained unusually light after Christmas and price moves may have been exaggerated as a result. China Spot Gold Ends Up; Intl Rise Sparks Fresh Buying SHANGHAI (Dow Jones)--Spot gold traded on the Shanghai Gold Exchange closed higher Tuesday, as gains in international spot gold during Asian trading hours encouraged fresh buying in the local market. -By Allen Sykora, Dow Jones Newswires; 541-318-8765; [email protected] (END) Dow Jones Newswires 12-27-05 1427ET |