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DJ PRECIOUS METALS UPDATE: Tensions Remain Over German Gold(Comtex Business Via Thomson Dialog NewsEdge)TOP STORIES: Buba, Fin Min Tensions Remain Despite Statements-Source FRANKFURT, Feb 16, 2006 (Dow Jones Commodities News via Comtex) --Tensions remain between the Deutsche Bundesbank and the finance ministry over what to do with Germany's gold reserves, despite statements from both Thursday, a person close to the negotiations told Dow Jones Newswires. Flow Of Money Into Commodities Becoming A Bubble-Analyst LONDON (Dow Jones)--The stampede of money into the commodity markets and copper in particular is increasingly becoming a bubble, industry consultant Simon Hunt said. Newmont Exec: Indonesia Govt Agrees To Drop Civil Lawsuit JAKARTA (Dow Jones)--Newmont Mining Corp. (NEM) has reached a "goodwill agreement" with the Indonesian government that will end its attempts to sue the U.S. gold mining giant for alleged toxic pollution, a senior company executive said late Wednesday. Implats: Platinum Mkt To Stay Tight On Strong Auto Demand LONDON (Dow Jones)--The platinum market is expected to remain tight for the medium term, led once more by an automotive sector that is striving to meet stricter emission legislation worldwide, Impala Platinum Holdings Ltd. (IMP.JO), or Implats, said in a statement Thursday. Implats S Africa Refinery Expansion On Track For June LONDON (Dow Jones)--Impala Platinum Holdings Ltd. (IMP.JO), or Implats, said in a statement that a project to expand capacity to two million ounces at its precious metals refinery in South Africa is on track and expected to be completed by the end of June 2006. Implats Platinum Output Up 6.6% To 938,000Oz In 2H '05 LONDON (Dow Jones)--Impala Platinum Holdings Ltd (IMP.JO), or Implats, saw platinum production of 938,000 troy ounces in the six months to the end of December, a 6.6% year-on-year increase, the company said in a statement Thursday. Quarterly Gold De-Hedging Hits 2-Yr Low 490,000Oz - GFMS SYDNEY (Dow Jones)--Gold de-hedging fell to its lowest in two years in the quarter ended Dec. 31 as large producers continued to unwind positions, offsetting fresh hedging by juniors, said London-based metals consultancy GFMS. Gold Fields Appoints Two Non-Executive Directors LONDON (Dow Jones)--Gold Fields Limited said Thursday that Donald Ncube and John Hopwood have been appointed non-executive directors of the company with immediate effect. Australia's Sino Gold Seeks Funds To Speed Up China Mine SYDNEY (Dow Jones)--Australia's Sino Gold Ltd. (SGX.AU) has decided to speed up plans to develop China's biggest gold mine, Chief Executive Jake Klein told Dow Jones Newswires Thursday. Australia's Allied Raises A$41.7M For PNG Gold Project SYDNEY (Dow Jones)--Allied Gold Ltd. (ALD.AU) said Thursday it has raised A$41.7 million for its Simberi gold project in Papua New Guinea. Chile Environmental Authority OKs Barrick Pascua-Lama SANTIAGO (Dow Jones)--Chilean regional environmental authority Corema Wednesday gave Canadian miner Barrick Gold Corp.'s proposed Pascua-Lama gold mine the green light, although with certain restrictions, a source said. Russia's Polymetal Plans 2006 IPO On LSE MOSCOW (Dow Jones)--Russia's largest silver producer, Polymetal, plans to hold an initial public offering on the London Stock Exchange around November of this year, a company spokesman told Dow Jones Newswires Wednesday. Gold Rally Stalls As ETF Inflows Slow-HSBC Analyst LONDON (Dow Jones)--The stalling in the gold price rally over the last few days reflects a slowing in inflows into the various exchange traded funds, according to HSBC analyst Alan Williamson. LBMA: Jan Gold Ounces Cleared Dn 12% On Dec To 17.6M Oz LONDON (Dow Jones)--January gold and silver clearing statistics were down on December but up on the year, the London Bullion Market Association said Wednesday in its monthly clearing statistics report. STORIES OF INTEREST: Inmet Expects 27M Tons Ore Mined At Ok Tedi In 06 LONDON (Dow Jones)--Canada's Inmet Mining Corp. expects ore mined at its OK Tedi copper and gold mine in Papua New Guinea to reach 27 million metric tons in 2006, the company said in a statement Wednesday. Barrick Announces Agreement With Antofagasta Barrick Gold Corp said it has entered into an agreement with Antofagasta PLC to acquire 50% of Tethyan Copper Company's Reko Diq project and associated mineral interests in Pakistan in the event that Antofagasta is successful in its bid to acquire Tethyan. MARKETS: NY Precious Metals Review: Gold, Silver Rally At Close NEW YORK (Dow Jones)--Comex gold and silver took a lower open and reversed direction to close higher on Thursday at the New York Mercantile Exchange amid physical buying support. China Spot Gold Ends Mixed; Benchmark Dn On Overall Fall SHANGHAI (Dow Jones)--Spot gold traded on the Shanghai Gold Exchange closed mixed Thursday, with the benchmark bullion sliding in tandem with an overall retreat in other commodities during the day, traders said. -By Alison Guerriere Ciaccio; Dow Jones Newswires; 201-938-5959; [email protected] (END) Dow Jones Newswires 02-16-06 1542ET |