Greece has reached a deal with the European Union (EU) and International Monetary Fund (IMF) for a new five-year austerity plan. The agreement includes a commitment to an additional round of tax increases and spending cuts, according a Reuters report citing sources with knowledge of the matter.
Earlier today, Greek Finance Minister Evangelos Venizelos announced that Greece’s Socialist government would reduce the minimum threshold for income tax to 8,000 euros per year, raise the tax on heating oil and implement a one-time solidarity levy on income of between 1% and 5%.
Following the report of the Greek deal, the euro currency pared its losses against the U.S. dollar, jumping from 1.4140 to 1.4210. U.S. equities rebounded as well, with the Dow Jones Industrial Average (DJIA) cutting its losses in half to trade lower by just 85 points at 12,025 this afternoon.
Gold showed a muted reaction to the news, remaining substantially lower near $1,520 per ounce.
Platinum Group Metals Reports Acceptance of WBJV Mining Rights Application
Platinum Group Metals (PLG.NYSE AMEX) announcement that the South African Department of Mineral Resources (DMR) has accepted the Company’s application for a mining right for the WBJV Project 1 Platinum Mine. This development indicates that the company has complied with submission requirements and can now proceed with the completion and submission of its Environmental Impact Assessment (EIA) and Environmental Management Programme Report.
On March 28, the emerging platinum producer received the consent of the South African Department of Mineral Resources for the company's detailed underground development plans and environmental management program, including the mining of a bulk sample. Civil engineering contractors are mobilizing and development is advancing on the project, which is strategically located on the world’s most prolific platinum-producing belt.
Platinum Group Metals is also conducting exploration work on its Canadian properties located near Thunder Bay, Ontario. Full Platinum Group Metals News Release.
PLATINUM TO FOLLOW SILVER?
