Alpha Natural Resources, Arch Coal near bankruptcy exit deals

Alpha Natural Resources has announced the closure of eight coal mines in Virginia and Pennsylvania as well as the reduction of its workforce by 1,200 heads.

China's Meijin Energy Group has launched a USD$457 million bid for Australia's Western Desert Resources (ASX:WDR).

South Sudan, the world's newest nation, has announced plans to enact a mining law by the end of October, pushing ahead exploration and expansion in the likely mineral rich, but unexplored country, helping it to diversify its economy away from oil.

Mining giant Rio Tinto has announced more job cuts across its coal mines in Queensland as the state raises its royalty rates.

Opposition to TransCanada's (TSX, NYSE: TRP) Keystone XL oil pipeline has reached YouTube, where a recently posted video "We Quit You, Keystone XL (It's Not Us, It's You)" is getting thousands of views as it takes a witty approach to attracting more rivals to the project.

BHP Billiton (ASX:BHP) head Marius Kloppers has topped a recent list of Australia's best-paid corporate bosses for 2011 yet inadequacies in reporting requirements means much CEO income remains undisclosed.

China's ICBC has announced a reduction in its lending to Australia's resource sector due to concerns that the mining boom is nearing an end.

The halcyon decade that China's coal industry has enjoyed since 2002 market reforms has reached its terminus with a major dive in first half profits this year.

Brad Wall, premier of the Canadian province of Saskatchewan, says the negotiation of a nuclear agreement between Canada and China could lead to huge exports of uranium from the prairie province to the PRC. Wall made the comments during an interview with Canada's CBCin Hong Kong during a group visit to China with other Canadian premiers for the purpose of boosting business ties. According to Wall the Canadian prime minister's negotiation of the Nuclear Cooperation Agreement with China could enable Saskatchewan to export $3 billion into what he refers to as the "most robust nuclear power program in the world." Wall extolled the benefits of trade with China for Saskatchewan, saying China's food and energy needs will serve as an immense boon for the province's potash and uranium exports.

For Saskatchewan there's a great importance here. We've seen our exports to China from Saskatchewan triple from 2006. We've moved past Ontario and Quebec in terms of the exports to China specifically. In the first half of this year we're up 103% over the first half of last year and typically our best exporting months come at the back end of the year.

Image courtesy of the Saskatchewan Premier's channel via Youtube