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IMF's gold sales rose sharply in September
By Pedro da Costa and Emily Kaiser
Reuters
Friday, October 29, 2010
http://www.reuters.com/article/idUSWEN216120101029
WASHINGTON -- The International Monetary Fund sold 1.04 million ounces (32.3 tons) of gold in September, well above the amount sold in August, an IMF spokesman said on Friday.
The sale was part of a plan announced late last year for the Fund to sell 403.3 tonnes of gold to boost its lending resources. The fund said the sale would avoid disruptions to the gold market, which has been buoyed by huge liquidity injections of central banks around the world.
The IMF sold 320,000 ounces to Bangladesh, the spokesman said.
Prophecy Resource Goes Into Production
at Ulaan Ovoo Coal Mine in Mongolia
A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there.
For the company's complete announcement, please visit:
http://www.prophecyresource.com/news_2010_oct14.php
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