Westmoreland Coal to acquire Wyoming mine

Source: Marketwatch

Westmoreland Coal Co. plans to purchase Wyoming coal mine from Chevron Corp. paying over $74 million in cash and assuming $118 million in liabilities. The deal followed Chevron's announcement it would abandon coal industry and would sell its Wyoming mine. The transaction is expected to close at the end of the next month.

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Tue, 27 Dec 2011 14:23:23 GMT

China's gold output approached 290.75 metric tons

China's gold production soared in the period from January to October by 4.9% on a yearly basis to 290.75 metric tons, according to Ministry of Industry and Information Technology. The ten largest producers of gold saw about 12.04% increase in the yellow metal production to 151.28 metric tons.

Tue, 27 Dec 2011 14:20:26 GMT

Gold may fall to $1560/oz

Gold prices are likely to continue declining approaching the previous low of $1560 per ounce. COMEX gold futures for delivery in February are currently trading near $1598.3 an ounce, losing $7.7 since opening. The market is expected to remain weak as investors are anticipating US CB consumer confidence data; the expected reading is 58.5.

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