PRECIOUS METALS HIGHLIGHTS: Top Stories of the Day

   TOP STORIES 
 
South Africa's ANC Rejects Mine Nationalization, Wants Bigger State Mining Firm 

MIDRAND, South Africa--South Africa's ruling African National Congress didn't adopt mine nationalization at a major policy conference this week, but said Friday it wanted to see more involvement by its state mining company.

 
   STORIES OF INTEREST 
 
Gold-Coin Sales Plummet in Second Quarter - U.S. Mint 

NEW YORK--U.S. appetite for gold bullion, a traditional safe-haven investment, fell to its lowest quarterly level in four years, the U.S. Mint said.

 
Shanta Gold Full Year 2011 Pretax Loss Widens, Positioned Well For First Gold Pour 

LONDON-- Shanta Gold Ltd. (SHG.LN), a gold producer with operations in Tanzania, recorded Friday a widening full-year pretax loss and said it is well positioned as it approaches its first gold pour.

 
Avocet Mining Sees 2012 Gold Production Down Due to Inata Mine Issues 

LONDON--Avocet Mining PLC (AVM.LN) said Friday that, following lower-than-expected gold production for the year to date and a reassessment of mining for the remainder of the year, it now expects its gold production for 2012 to decline to between 135,000 and 140,000 ounces from 160,000 ounces.

 
2nd UPDATE: St. Barbara, Allied Gold Plan to Merge Into a $1 Billion Miner 

SYDNEY--Gold producers St. Barbara Ltd. (SBM.AU) and Allied Gold Mining PLC (ALD.AU) said Friday they plan to form a AUD1 billion (US$1 billion) mid-tier mining company via a merger, which is set to be the biggest such deal in the domestic gold-mining sector since late 2010.

 
   MARKETS 
 
PRECIOUS METALS: EU Relief Catapults Gold, Silver Higher 

NEW YORK--Silver futures rose 5.1% Friday, while gold retook the $1,600 level, as investors cheered surprising signs of progress in Europe's battle to contain its bank crisis.

Write to Tatyana Shumsky at [e-mail].