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Colombian coal workers vote to strike

Colombian coal workers voted on Saturday to strike over pay and working conditions at the 3-million-tonne-per-year La Jagua mine of Glencore's Prodeco unit, a union said. Colombia is the world's fourth-largest coal exporter and Glencore's La Jagua - one of the mining concessions it owns in the nation - has some of the country's highest quality coal.

Three mining firm staff abducted in Philippines set free

Suspected New People’s Army (NPA) rebels operating in northeastern Mindanao have released three personnel of a mining firm abducted from a site in Agusan del Sur. Earlier reports said the NPAs sought P25 million for the release of Christopher Ocite, operations manager of VPO Mining; Gani Altaya, assistant operations manager; and Joel Jayuma, the company’s security chief.

All news is now bad news for gold

The stars are aligning for gold take up its position of the ultimate storer of wealth, hedge against inflation and all-round best alternative to paper currency. But gold is not reacting the way it used to - instead it is trading back below $1,600 an ounce, down almost $30 on Friday and now showing a loss for 2012.
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