1. Bloomberg.com: ArcelorMittal May Buy Mines in 2010 to Boost Iron Ore Supplies

ArcelorMittal plans to increase its supply of iron ore: focuses on vertical integration. The steel company supplies nearly half of its iron ore needs, but looks to raise its iron ore self-sufficiency to between 75-85% by 2014.

2. Reuters India: UPDATE 1- Australia Port Hedland reopens to iron ore ships

Port Hedland reopens undamaged after a severe cyclone passed earlier this week. Freighters were rerouted to safe harbors as Australia’s west coast was inundated with near 300 km per hour winds. The port is primarily used by BHP Billiton.

3. The Associated Press: Fear of violence grows in mountaintop mining fight

A female miner was charged with assaulting an environmental activist neighbor. The incident has sparked fears that more violence could erupt out of the region’s controversy over mountaintop removal coal mining. So far, most arrests are associated with trespassing charges.

4. The Hindu Business Line: Iron ore ferrying: Panel to seek ban on 25-year-old ships

The Union Ministry of Shipping recommends the Indian government ban ships more than 25 years old from loading iron ore cargo. The recommendation comes as a solution of the issue of older cargo vessels sinking along the Indian coast.

5. AFP: Rio appoints new iron ore envoy, denies Hu link

Rio Tinto announces Danny Goeman as its replaced chief iron-ore negotiator. Goeman has been an active in Rio Tinto’s negotiations for the last six years, and was at the helm of last year’s price talks when executive Stern Hu was detained in China in July on claims of industrial espionage.

6. People’s Daily Online: Northwest mining project hits red light

The US government objects to a $26.5 million Chinese investment in a Nevada gold mine on national security concerns.  The mine is around 100 km from a US Naval base.  Nonferrous International Investment signed a deal to buy a 51% stake in Firstgold Corp in July.

7. The Canadian Press: SNC-Lavalin chosen to provide services for African iron ore project

The construction of a $630 million iron ore concentrator project in Mauritania will be managed by SNC-Lavalin. SNIM, a Mauritanian government majority owned company, chose SNC-Lavalin to provide engineering, procurement, and construction management services. Financial details of the agreement were not disclosed.

8. The Associated Press: EPA holds public meeting on proposed uranium mine

Controversy surrounds a proposed uranium mine in northern Colorado. Opponents of the mine claim the EPA has been working on draft regulation before approval has been given. Colorado-based Powertech looks to use technology that injects a solution underground to dissolve and extract uranium.

9. Reuters UK: Baltic index stays weak, cargo activity subdued

The Baltic Exchange sea freight index falls to a near two-month low. The index tracks the cost of shipping for items such as iron ore and coal. The main index has been uncharacteristically erratic this year due to swings in Chinese demand for iron ore.

10. The Australian: Macarthur Coal makes a $1bn bid to expand

Macarthur Coal looks to expand its assets, set to become a $3.4 billion coal company. Macarthur made an AUS$1.2 billion bid to buy Glouchester Coal and other assets of the Nobel Group. The deal would add an estimated 2.5 million tonnes of coal production annually.

US federal agencies report Asarco has paid $1.79 billion dollars for past and future costs to clean up hazardous mining waste in 19 states. The funds came from the Arizona copper mining firm’s bankruptcy reorganization. It is the largest environmental cleanup and restoration in US history.

2. The Sydney Morning Herald: Nullagine iron ore project gets go-ahead

Trial mining test results exceed expectations: BC Iron and Fortescue Metals Group rev-up development on their Nullagine joint venture. The test showed extractions at 13% higher tonnes and grade than predicted.

3. The Associated Press: Alpha Natural Resources upgraded, shares rise

Macquarie Equities Research analyst upgrades Alpha Natural Resources on expectations the coal producer will focus its exports to the European market.  Demand is forecasted to rise sharply over the next two quarters as steel companies’ inventories remain low.

4. China Daily: Billion-ton iron ore deposit found in N China

Chinese officials report a 1 billion-ton iron ore deposit has been found in the Hebei province. On average, the deposit lies between 100 to 600 meters below ground and is expected to be comparatively easy for mining. It is the largest deposit found in China since the 1980s.

5. The Philadelphia Inquirer: Daleco mining project receives U.S. approval

The U.S. Department of Agriculture’s Forest Service has approved Daleco Resources’ Sierra Kaolin Open Clay Mine Project. The New Mexico-based mine site has undergone a 21-month regulatory review. Minerals and other materials extracted will be used in a variety of industries.

6. Bloomberg.com: New Gold Rises in Toronto After Mexican Mine Ruling (Update 1)

A Mexican court has temporarily overturned the suspension of New Gold Inc.’s mining at its Cerro San Pedro site.  New Gold will be allowed to continue mining operations through the duration of an appeal.  Shares of New Gold rose 13%, its biggest one-day gain since May.

7. AFP: 19 workers killed in Turkish mine blast: report

Nineteen miners die after an explosion triggered a coalmine cave-in late Thursday in Turkey. Earlier reports suggested some of the workers might have been trapped.

8. Economic Times: Panel to fast-track mine licensing

India’s government considers creating a committee to fast track the process of granting mineral concessions. The committee could be included in the country’s new Mines and Minerals Bill, 2009 and would be comprised of officials from various government ministries and departments.

9. The Vancouver Sun: Vancouver’s Eldorado Gold closes $2-billion Sino acquisition

Eldorado Gold acquires all outstanding ordinary shares of Sino Gold, completes its friendly $2-billion takeover. Sino has two operation mines in China with another mine under construction. With the acquisition, Eldorado Gold is the largest foreign-based gold producer in China.

10. Reuters: UPDATE 1- Brazil’s Vale sees iron ore prices higher in 2010

Vale’s chief Roger Agnelli remains positive on 2010’s outlook for iron ore. Spot prices are around 30% higher than 2009 contracts.  Agnelli believes the rise in iron ore prices is hinged on China’s continued growing demand.

China’s official news agency reports China’s iron and steel industries are actively searching for mergers and integrations to strengthen its bargaining power against the proposed merger between BHP Billiton and Rio Tinto.  The two iron ore producers share over a 30% market share in the global iron ore market.

2. Bloomberg.com: Coal India Unit to Boost Production on Demand From Steelmakers

Bharat Coking Coal aims to increase production by nearly 8% over the next year. India’s biggest coal producer forecasts production at 4.3 million metric tons in the year ending March 31, 2011, compared to this year’s 4 million tons.

3. The Australian: Atlas Iron to conclude Ridley sale in 2010

Goldman Sachs readies Atlas Iron’s Ridley project for sale; project expected to fetch between $150-$200 million. A possible sale could include a majority stake interest or the entire project.

4. Reuters: UPDATE 1- Mechel posts 2^nd straight quarterly profit

Mechel’s third-quarter net profit of $132 million exceeds forecasted expectations near $60 million. The Russian steel and coking coal producer reported its second consecutive quarterly profits. Results were still far off last year’s $535 million net profit during the same period.

5. The Toronto Star: Canadian mine in Mexico shut down due to environmental concerns

Mexico’s Ministry of Environments shuts down a mine in the Chiapas state over alleged infractions including the building of roads without authorization, polluting, and emitting toxic emissions. The mine is owned by Canadian based Blackfire Explorations.

6. The Sydney Morning Herald: UMC drops hurdle for takeover by BHP Billiton

United Minerals Corporation drops its planed rights issue: junior miner’s board recommends BHP Billiton’s takeover deal. United’s main asset is the Railway iron ore deposit in the Pilbara region. BHP Billiton submitted its bid for the miner nine days after United announced its rights issue.

7. Bloomberg.com: Felix Shareholders Approve $3.2 Billion Yanzhou Coal Takeover

Felix Resource’s shareholders consent to Yanzhou Coal Mining Co. $3.2 billion takeover offer. Chinese authorities are expected to approve the proposed acquisition within a few days. Australian authorities authorized the takeover in October.

8. Australia Broadcasting Corporation: Xstrata investment near Cloncurry ‘a vote of confidence’

Queensland’s State Government gives Xstrata the green-light to extend the life of its Ernest Henry mine by another 12 years. The mine will be extended from an open cut operation to an underground mine. Xstrata will invest around $600 million into the project.

9. The Salt Lake Tribune: Utah coal firm buying Chinese coking plant

American West Resources signs a binding letter of intent to purchase the Luxin coal plant in northeastern China. The U.S. based company will spend $40 million to acquire a 70% interest in the company through a 30-year joint venture, with another $30 million promised towards expansion capital.

10. Reuters: UPDATE 1- Congo mine strike not hurting production –Freeport

Strikers at Freeport’s Tenke Fungurume copper and cobalt mine return to work at the urging of government labor officials. The workers staged the non-violent stoppage on Friday.  The Democratic Republic of Congo is reviewing Freeport’s mining contacts.

MMX and Wuhan Iron and Steel reach agreement: iron ore miner to sell 21.5% of its capital for $400 million. The investment, which is awaiting regulatory approval, is expected to boost MMX’s iron ore output and provide raw material access to the Chinese steelmaker.

2. The Associated Press: Noront ups offer for Freewest in duel with Cliffs

Noront Resources responds to Cliffs Natural Resources’ bid for Freewest Resources Canada. Noront’s latest, and final, offer has an implied value of $207 million, toping Cliff’s bid valued at $142 million.

3. AFP: China charges 58 over cover-up: state media

Forty-eight government and mining officials along with 10 journalists are charged with covering up a deadly mine accident in July 2008, shortly before last year’s Olympics. Chinese officials claim mine bosses and regulators destroyed evidence, relocated bodies, and paid off journalists and relatives.

4. The Sydney Morning Herald: Territory hunts for acquisitions

Territory Resources embraces iron ore’s positive price outlook: expects 2010 spot prices to be at least 20% higher on this year’s price.  The miner is actively seeking acquisitions to expand the limited operating life of its sole iron ore mine at Frances Creek.

5. Bloomberg.com: BHP Won’t Bid for Rio, Needs Buyback, Southern Cross Says

Southern Cross Equities views BHP Billiton and Rio Tinto’s iron ore joint venture in a more favorable light compared to BHP’s hostile bid for Rio last year.  Southern officials point out BHP will be extracting maximum synergies under the current proposal while protecting itself from Rio’s market exposure in the aluminum industry.

6. The Australian:  Fortescue asks more for ore after Chinese funding deal fails

Fortescue Metals Group decides to sell its ore at the Asian benchmark contract or at spot prices after a proposed $6 billion funding deal from China collapsed. The miner was previously selling ore to China at a 3% discount on contract prices in the previous quarter. Spot prices are running nearly 40% higher than contract prices

7. Reuters: Vale to open $573 mln steel mill in Brazil –report

A Brazilian newspaper reports Vale has agreed to invest $573 million in a planned steel rolling plant in the Rio de Janeiro state. The iron ore miner holds a 27% stake in the project. Vale has yet to confirm the purported investment.

8. AFP: Barrick Gold eliminates its gold hedges

Barrick Gold hopes to profit from rising gold prices: eliminates its hedges on its gold production and reserves. The hedges were used to sell gold it expected to produce in advance for a fixed price.

9. Bloomberg.com: BHP Seeks Variable Coking Coal Price in Japan, Nikkei Says

Nikkei English News reports BHP Billiton is urging Japanese steelmakers to allow coking coal prices be linked spot rates, rather then set by yearly benchmarks. The miner reportedly wants the system in place for Japan’s fiscal year starting April 1.

10. The Canadian Press: Judge hands down picket line restrictions on striking Vale Inco workers

A Canadian Judge orders protesting miners to follow picketing regulations. Cars entering Vale Inco facilities can only be delayed 15 minutes. The United Steelworkers have been on strike since July over issues over a bonus tied to the price of nickel and pension plan changes.

1. AFP: China blast mine ‘overcrowded’: safety official

Safety official reports overcrowded shafts played a factor in a coalmine gas explosion that killed 104 workers. The explosion occurred Saturday when more than 500 miners were below ground and is China’s worst mine disaster in the last two years.

2. Bloomberg.com: Anglo’s Kumba Likely to Expand Its Sishen South Mine (Update 1)

Anglo America expected to expand its Sishen South mine production. The deposit is run by Kumba which is 63% owned by Anglo. The project is valued near $924 million and is set to start production in the first half of 2012.

3. Reuters India: Orissa probes illegal mines, halts operations

Orissa Mines Minister asks 128 mine operations to suspend operations in light of the government’s investigation against illegal mining. An initial inquiry has found evidence of nearly $5 million worth of illegally mined manganese ore.

4. The Associated Press: Judge sides with environmental groups in coal case

U.S District Judge Chuck Chambers rules the U.S Army Corps of Engineers did not give the public enough a say before issuing mountaintop removal coal mines and therefore violated the Clean Water Act and National Environmental Policy Act. Environmentalists celebrated the outcome in anticipation that many of the pending permits may need to go back through the public process.

5. Reuters: UPDATE 1- Newmont, Sumitomo to sell Indonesia JV shrs

Newmont and Sumitomo Corp agree to sell a 14% stake in its Indonesia joint venture to local governments for $494 million.  The companies partially own and operate the Batu Hijau copper and gold mine. The joint venture’s shareholders will need to approve part of the proposed transaction.

6. Bloomberg.com: Canada Says It Will Back Congo-Paris Club Debt Accord (Update 1)

Democratic Republic of Congo pledges to improve relations with foreign investors in order to restructure its debt with the Paris Club of creditor nations. Canada has asked the Paris Club to discuss two disputed mining contract with Congolese officials before accepting the agreement. The mining contacts under question involve Lundin Mining Corp and First Quantum Minerals Ltd.

7. The Australian: Kerry Stokes’ Iron Ore Holdings to double market value, says analyst

Rio Tinto expresses interest in buying all or part of Kerry Stokes’ Iron Ore Holdings Iron Valley deposit.  Mining analyst Sam Spring believes the commercialization of the deposit will lead to a significant increase in Iron Ore Holdings share price, and a doubling of the miner’s market cap.

8. The Associated Press: Exec says new Asarco to be profitable, competitive

Asarco LLC released from a four-year bankruptcy battle; Arizona and Texas mining and refining operations free from environmental liabilities. Grupo Mexico’s bankruptcy bid for Asarco will be completed in mid-December. The company is expected to resume operations with 1,500 unionized workers and an additional 1,000 nonunion employees.

9. Reuters: Xstrata moves into iron ore with Congo-Rep project

Xstrata funds its first iron ore venture. The Anglo-Swiss miner will spend at least $50 million towards its exploration project in the Republic of Congo.

10. Toronto Star: Mining companies threatened me: Ex-Argentine minister

A former environmental minister claims foreign mining companies personally threatened her in their objection to the government’s efforts to clean up mining operations. The minister shared her testimony Argentina’s House of Commons. Romina Picolotti was the environment minister from 2006 to 2008.

1. Bloomberg.com: Rio Has Less Desire for BHP Deal, JPMorgan’s Henderson Says

Rallying commodity prices lead a JPMorgan analyst to speculate that Rio Tinto has less of an interest in its proposed iron ore joint venture with BHP Billiton than when the merger was agreed upon in June. The proposed merger of the companies’ Pilbara region assets will save more than $10 billion.

2. The Associated Press: ICG says lawsuit over valley fill permit settled

International Coal Group settles a lawsuit with the Sierra Club and Kentucky Waterways Alliance. The settlement allows for the partial filling of four valleys at its Thunder Ridge mine; a reduction in the number of valley initially permitted by the Army Corps.

3. Reuters: Brazil’s Vale says building 16 iron ore carriers

Vale’s fleet to expand by 16 new vessels, each designed with a capacity to hold 400,000 tonnes of iron ore. The vessels will help the miner reduce its transportation cost between Brazil and China.  The first vessels are expected to come into service by the end of next year.

4. Business Standard: Jharkhand govt gives major ore lease to SAIL

India’s Steel Authority of India awarded a renewal of its Buddhaburu lease. The deposit is located in Asia’s largest iron ore belt. The Jharkhand government initially refused to transfer the lease to SAIL after it merged with the original leaseholder IISCO.

5. The Canadian Press: Activists call on Canada to toughen rules for mining operating abroad

A Montreal conference pressures Canadian mining companies to consider the environmental and social needs of communities while operating abroad. The conferences organizers say nearly three-quarters of the world’s mining and exploration companies are based in Canada.

6. Bloomberg.com: JSW May Spend $500 Million to Acquire Coal Mines (Update 1)

JSW Steel Ltd. looks abroad for coal mine acquisitions to secure supplies. The growing steelmaker plans to source half of its coal overseas and is expected to spend near $500 million in future acquisitions.

7. Business News America: First Namisa pellet plant to come on stream in 2012

Namisa officials announce its pellet plant production schedule at the Americas Iron Ore Conference. The Brazilian iron ore miner plans to invest $1.3 billion in two iron ore plants. The plants are expected to start production near the end of 2012.

8. The Associated Press: Goldcorp to acquire Canplats Resources for $228M

Goldcorp to assume ownership of Canplats Resources Corp; acquisition leads to new exploration company. The company will hold the majority of Canplats’ existing Mexico based developments. The deal is valued near $228 million and is expected to be finalized in January.

9. Reuters: UPDATE 1-Sierra Leone passes mining bill, hikes royalities

Parliament passes new mining bill Tuesday; royalty rates raised along with mandates for increased government participation. Among other provisions, corporations operating in Sierra Leone will be required to spend 0.1% of gross revenue on community initiatives.

10. Brisbane Times: Chinese investment in Aquila cleared

Chinese regulators approve Baosteel’s $285.6 million investment in Australian coal miner Aquila Resources. The investment, which was approved by Australia’s Foreign Investment Review Board in October, will give Baosteel up to a 19.99% stake.

1. AFP: Rio wants to work with spurned Chinalco: chief

Rio Tinto chief Tom Albanese hopes to work with Chinalco in the resolution of the case against executive Stern Hu. The Rio Tinto employee was arrested in China shortly after the two companies’ $19.5 billion merger collapsed in June.

2. Reuters India: Orissa orders 69 mines to stop operations

Orissa halts 69 iron ore mines after operators fail to submit their approvals to the Indian Bureau of Mines. The state is undergoing a phased inspection of its approximately 600 mines following allegations of un-licensed mining.

3. The Chicago Tribune: Lawmakers oppose Michigan anti-mining ballot plan

State lawmakers supporting Michigan’s Upper Peninsula criticize a proposed ballot proposal banning some types of mining. The group is concerned of the bans impact on the region’s economy. The proposed ballot would ban uranium mining and restrict sulfide mining.

4. The Age: BC Iron in trading halt

BC Iron’s trading halt expected to last until Thursday; iron ore explorer to make announcement relating to financing and off-take deals. Trial mining recently commenced at the company’s Nullagine project.

5. Bloomberg.com: Mozambique Mine Investment Surged Through 2004-08, Noticias Says

A Mozambique-based newspaper reports the county’s mining sector investment has increased eightfold between 2004 and 2008. The daily Noticias said direct investment grew to $804 million in 2008, with mining licenses issues increased from 247 to 821.

6. Press Trust of India: AP govt, NMDC to explore iron ore, gold reserves

National Mineral Development Corporation and the Andhra Pradesh government prepare to sign a memorandum of understanding concerning a joint exploration for iron ore and gold. The entities would bear equal weight of the cost of the exploration.

7. Reuters: Sundance raises cash for Cameroon iron plan

Sundance Resources to advance its Mbalam iron ore project in Cameroon. The Australian miner has raised nearly $79 million in a 567 million shares issue. Sundance submitted its feasibility study to the Cameroonian government last month.

8. The Australian: Mining blasts Orica through crisis

Explosives maker Orica focuses business on mining services in efforts to ride out the financial crisis. Orica announced its seventh year of full-year profits and are preparing for future expansions.

9. Economic Times: Tata Steel partners NML; to invest 300 mm Canadian dollar

Tata Steel agrees to invest 300 million Canadian dollars in its joint venture agreement with New Millennium Corp. Tata will have an 80% equity stake in the North American iron ore development.

10. Anchorage Daily News: Alaska gold production highest since 1916’s rush

Alaska’s 2008 gold production tops 800,000 ounces, the highest amount since 1916. Record high gold prices have encouraged miner to invest capital towards extending their life spans. Gold production in Alaska’s major mines rose 11% last year.

1. The Australian: Rio Tinto to dig deep: capital expenditure

Rio Tinto more than doubles its planned 2010 capital expenditure budget. The Australian miner raised its forecast from $2.5 billion to between $5-$6 billion, and are claiming increased mineral demand and assets sales have left the company more financially sound.

2. The Associated Press: Mining stream buffer rule could be ready by 2011

The Office of Surface Mining Reclamation and Enforcement beings replacing Bush-era surface mining regulations: changes expected to take at least a year. The Obama administration is seeking to return towards earlier regulations that required operators from dumping mining-related material within 100 feet of streams.

3. Bloomberg.com: Vale Sells $1 Billion of 30-Year Bonds in Overseas Markets

Vale sells bonds to boost investments: offers $1 billion in 30-year bonds. It is the Vale’s second overseas note offering this year. The miner seeks to increase investments 43% next year, with plans to expand its iron ore, nickel and potassium operations.

4. AFP: Rio Tinto hints at different iron prices for China

Rio Tinto considers allowing a separate iron ore pricing mechanism for China than in the rest of the world. The world’s largest producers failed to reach a 2009 benchmark price for iron ore with Chinese steel mills.

5. Reuters: Peru mine killings work of drug trade: businessmen

Peru’s business leaders claim drug traffickers attacked a copper project in order to keep the area undeveloped and open for drug production and trade. Three mine employees were killed with gunman invaded the Rio Blanco copper project and then set the complex ablaze. The project is owned by China’s Zijin Mining Group.

6. The Associated Press: Cliffs Natural Resources has steep 3Q profit fall

Cliffs Natural Resources reports third-quarter net income of $58.8 million, nearly two-thirds lower than in the same quarter last year.  Both profit and revenue fell sharply due to decreased North American business.

7. Bloomberg.com: BHP Agrees to Buy Iron Ore Explorer for A$204 Million (Update 3)

BHP Billiton beats out Chinese rival for the acquisition of United Minerals Corp. BHP agreed to buy the Australian iron ore explorer at 43% more than United’s last traded share price. The A$204 million purchase will give BHP access to 158 million metric tons of iron ore located next to its Pilbara based operations.

8. The Associated Press: Ariz. Governor opposes halt on new mining claims

Arizona Governor Jan Brewer appeals to Government officials to lift a ban on filing mining claims on nearly 1 million acres of federal land.  The ban was enacted in July, and prohibits filing claims for two years while a study on the environmental effects takes place.

9. Reuters India: BHP says may do more deals like Rio iron ore jv

BHP Billiton is keen for future acquisitions similar to its current joint venture proposal with Rio Tinto. The Australian miner says it is on the continuous lookout for partnerships consisting of large developments that are expandable and export oriented.

10.  Bloomberg.com: Tata Power May Buy Thermal Coal From Riversdale Mine (Update 2)

India’s largest, private electricity generator considers purchasing Mozambique mined coal. Tata Power Co. is looking to double its generation capacity in the next seven years. Australia based Riversdale Mining and Tata have approved the joint development of a $270 million coal mine in Mozambique with production scheduled to begin next year.

1. Bloomberg.com: Fortescue Approves A$360 Million Ore Mine Expansion (Update 1)

Fortescue Metals Group’s $326 million expansion of its Christmas Creek mine includes plans for a 31-mile railroad from the site’s mine to an ore processing plant. The Australian miner said the project will be funded internally and is expected to increase the mine’s output to 55 million metric tons a year.

2. Reuters: Chile strikes resume talks with BHP Billiton

BHP Billiton officials meet with striking workers at Chile’s Spence copper mine: management seeks an end to the 10-day strike. The workers are demanding higher wages, and are holding out for new contracts. The government is helping facilitate the discussions.

3. The Associated Press: Deal struck on Great Lakes ship pollution

The Lake Carriers’ Association requests for at least partial exemption from proposed federal regulation aimed at reducing air pollution. Negotiators reached a deal Tuesday that exempts 13 ships that haul iron ore and coal across the Great Lakes. The Association agreed to ground some of its aging ships and use more environmentally friendly fuel.

4. Australia Broadcasting Corporation: Coal managers welcome rail link commitment

Queensland Rail agrees to build a 69-kilometer rail link between Bowen Basin coalfields and the Abbot Point coal terminal. Many of the area’s coal producers in the area promoted the billion-dollar project for increasing the area’s development opportunities.

5. United Press International: New Mexico extends uranium mining

New Mexico’s state government approves Uranium Resources Inc. to renew its exploration permit for uranium. The company will be allowed to drill up to ten holes to examine the feasibility of a mining operation.  The site is located in Northern New Mexico.

6. The Associated Press: US mining company says mine seized in Venezuela

Gold Reserves Inc. claims the Venezuelan government has seized control of its gold mine. Government officials took control of the mine on Monday and have yet to say if the company would be compensated for the loss. A few days before the seizure, Gold Reserve filed international arbitration proceedings against Venezuela concerning other mining projects.

7. Bloomberg.com: Uranium to Exceed $50 on Olympic Dam Slowdown, Macquarie Says

Olympic Dam force majeure expected to increase global uranium prices. Macquarie Bank is expecting uranium to rise above $50 a pound in the coming weeks. BHP Billiton expects full production to resume by the end of March, following an accident which shut down the mine’s main haulage shaft.

8. Reuters: BHP’s Argus says iron-ore JV with Rio on track

BHP Billiton’s chairman gives the proposed iron ore joint venture with Rio Tinto a 50-50 chance of being approved. Don Argus told reporters the venture is on track.

9. The Associated Press: Massey reports lower shipments of coking coal

Coking coal revenue per ton and production levels remains on the decline for U.S. based Massey Energy. Coking coal shipments made up less than a third of the companies third-quarter delivery. However, the company also reported increased cash holdings, benefits from the market’s rebounding demand.

10. The Charleston Gazette: Massey begins blasting on Coal River Mountain

West Virginia’s Governor rejects last minute request to halt mining operations; blasting begins at Massey’s Bee Tree Surface Mine. Opponents promoted the area as a potential wind facility, making the site the center of multiple anti-mining related conflicts.

Rio Tinto and BHP Billiton abandon plans to jointly market iron ore. The Australian miners are focusing its joint venture to production and development. The proposed plan to combine the miners’ Western Australian iron ore assets is expected to save more than $10 billion.

2. Reuters: Peru miners lukewarm on strike, eyes on Congress

Miners use its industry 48-hour strike as an appeal to Congress for improved worker’s benefits. Peru’s miners have demanded the government lower the age for retirement and lift caps on profit sharing.

3. The Associated Press: EPA plans to veto surface mining permit in W.Va

The Environmental Protection Agency plans to revoke a permit issued for Mingo Logan Coal’s Spruce No. 1 mine. The permit was issued in 2007 and the mine would have been the largest authorized mountaintop removal operation in Appalachia. The EPA has not used its authority to review a previously permitted project since 1972.

4. Bloomberg.com: Fortescue May Seek Ore-Blending Venture with Vale (Update 1)

Fortescue Metals Group considering blending its ore with that of Brazil’s Vale. Brazil has a declining supply of lump ore leading Fortescue officials to suggest a possible pairing in the future.  The companies have not held talks about a venture.

5. The Hindu Business Line: Govt allows Coal India to hike prices by 11%

Coal India’s prices allowed to increase by 11% on average as of October 16. The Government allowed the decision to help the company end the year with positive profits. The highest price rises will affect Coal India’s subsidiaries Bharat Coking Caol and Eastern Coalfields.

6. The Age: BHP faces $360m loss from Olympic Dam

BHP Billiton estimates it will take more than three months to restore production at its Olympic Dam copper, uranium, and gold mine. The operation’s main haulage shaft was damaged in early October. Ore haulage has been reduced to 25% of its normal capacity, the miner is expected to face revenue losses around $330 million.

7. The Associated Press: Caterpillar 3Q profit drops 53 pct, sees recovery

Caterpillar looks to its Asian customers for increased sales, company hesitantly optimistic for a recovery. The U.S. based company generates about 70% of its sales overseas. Slow sales resulted in a 53% drop in third-quarter profits.

8. Brisbane Times: BHP Billiton iron ore output soars to record

BHP Billiton sets a new iron ore production record for the September quarter. Production increased 1% to 30 million tonnes from last year.

9. The Charleston Gazette: Mining protesters arrested outside governor’s office

Seven mountaintop removal protesters arrested while trying to persuade Governor Joe Manchin to stop Massey Energy mining operations in the Coal River Valley. The protestors refused to leave the Governors reception area at the close of the business day.

10. Reuters: Brazil gov’t studying iron ore export tax: source

An unnamed government sources reports Brazil is considering adopting an export tax on iron ore. There has been recent tension between the government and miner Vale.