Frik Els , Editor

Microcap Canadian explorer Apogee Silver jumped 10% on Wednesday after announcing indicated silver resources at its Pulacayo Deposit in southwestern Bolivia had increased 133%. More than seven times the usual number of shares changed hands on Wednesday bringing the firm's market cap on the Toronto Venture exchange to just under $50 million. Apogee said the Pulacayo silver-lead-zinc deposit has 29.34 million ounces of indicated silver resource and 26.24 million ounces of inferred silver resource.

Argus Media reports the biomass conversion of Germany utility RWE's Tilbury, UK, power plant is on schedule to be completed before the end of this year, possibly as soon as November. The conversion is relatively straightforward, with the main issues material handling and logistics, according to RWE. The coal-fired power station on the banks of the Thames in England, previously scheduled for shut down in 2015 under new EU environmental regulations, hopes to produce up to 750 megawatts of green power. The news comes a day after a leaked European roadmap for energy use showed the use of coal for power generation dropping dramatically and that within 20 years all homes on the continent could be powered by wind-generated electricity.

Commodity Online reports platinum group metals miners may be hit by the rapid growth in the number of electric cars on the road that do not need catalytic converters. In addition, manufacturers like Nissan have slashed the use of platinum in gasoline-powered vehicles in efforts to keep costs down. The drop in industrial demand has not nearly been offset by the surge in jewellery sales and platinum has lost almost a fifth of its value since the start of September while palladium is down 23%. FT quotes Barclays Capital research that notes at current levels of about $1,530 an ounce, platinum is trading close to or below the price at which some miners break even and that high-cost producers are already losing money.

The world's number one iron ore producer Vale is considering shifting from iron ore pricing based on the previous quarter’s prices to levels more aligned with the spot price the company's chief executive said on Tuesday. The Brazilian company's new willingness comes after more Chinese steel mills seek to postpone shipments or default on contracts as spot iron ore prices drop from historic highs above $170 to levels of around $150. BHP, Vale and Rio Tinto control nearly 70% of the 1 billion tonne annual iron ore seaborne trade and dominate price talks which in the past were characterized by secretive negotiations and annual contracts. Just last week global number one miner BHP Billiton announced plans to create a new, more transparent system for pricing iron ore called Global Ore by the end of the year or early next year.

Oilsands Quest was little changed at 24.5c on Tuesday after announcing it had entered into a 2-year $12 million securities purchase agreement with Socius Capital. Oilsands Quest says the financing ensures it's near-term liquidity while it attempts to sell off assets and advance its flagship Axe Lake pilot project. The deal throws a lifeline to the company under threat of delisting from AMEX after a $60 million rights offer flopped in September and a year-long quest to find a buyer or strategic partner came up empty handed. Investors in the firm have been on a bumpy ride. The stock is down some 70% from its January highs of 64c and gained 63% in a single day after Saskatchewan granted the company 15-year oil sands leases, the first in the province. But recent investors can feel smug about the fact that they did not buy into the junior during the frothy 2006 market – the counter hit a peak of $7.76 in March that year.

News reports from Australia say BHP Billiton may face delays in getting approvals for its $30 billion Olympic Dam expansion, as Greens and other minor parties holding the balance of power in the South Australian Parliament push for an inquiry into the project. The legal agreement between BHP and the State Government will be introduced to parliament on Tuesday or Wednesday, but the Greens now want BHP Billiton officials to appear before a parliamentary committee to investigate the indenture legislation for the expansion. The project will create an open pit mine adjacent to the current Olympic Dam underground operation that would be the world's biggest – trucks will haul overburden 24/7 for five to six years just to reach the ore body.

The FT reports in a European Commission report on green energy leaked Monday all scenarios point to wind farms becoming the biggest source of electricity in the bloc by 2050, outstripping both coal and nuclear power. Coal use could fall to very low levels it is predicted and gas would be the "bridging" fossil fuel for the next 20-plus years. Under these scenarios wind energy will more than triple its power output by 2020 and ten years later all of Europe's 240 million homes could be wind-powered. The downside is the average household's energy bill would double at the same time.

UKZambians reports Zambia's Mines Minister Wilbur Simusa says he expects total cooperation from the mining companies as government engages them on taxation and that they should brace for tough decisions ahead, but he added that he does not anticipate resistance. There is mounting pressure on Zambia's new president Michael Sata who took office on the promise of improving mining conditions and a bigger share of mining profits for Zambians after protests at a Chinese-owned copper mine earlier this month and a brief ban on metal exports to sort out revenue collection in Africa’s top copper producer.

Bloomberg reports Grupo Mexico must return $1.3 billion to Southern Copper Corp. for forcing the unit to overpay for Minera México, a Delaware judge ruled. The court found that the terms of the 2005 merger was unfair to Southern Copper which mines copper and silver in Peru and Mexico. The court determined that Minera Mexico, at the time the second richest copper miner after Chile's Codelco, was only worth $2.43 billion and not the $3.75 billion Southern Copper paid.

What better gauge of the health of the gold mining industry and the prospects for bullion than the value placed on the sector by miners themselves? Starting in June deals among other miners have ground to a halt but the first nine months of 2011 has been an astounding year for gold M&A, PwC reports.