Teck Resources to axe 1,000 jobs, lowers dividend

Australia's mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country's largest freight forwarders of heavy equipment.

Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has received a Preliminary Feasibility Study (“PFS”) on its flagship Kuriskova high-grade uranium deposit located in Slovakia from its independent consultant, Tetra Tech, Inc. (Tt), in Golden, Colorado.

The BC government has allowed an expansion to the Quinsam Coal Mine on Vancouver Island.

A tiny piece of coal salvaged from the Titanic has sold at an auction for 50 pounds.

The meltdown at the Fukushima Daiichi nuclear plant last March had uranium investors fleeing for the exits. While the nuclear fuel used to make yellowcake had enjoyed something of a renaissance (after tanking in 2008-09 due to the financial crisis) in the runup to the earthquake and tsunami that rocked Japan, all that changed in the aftermath of the quake.

Photographer Martin Foskett spliced together a video of mining equipment accidents. Apart from the maudlin and rather depressing soundtrack, the video makes for an interesting diversion and a reminder that when thing go wrong with mining equipment, they really go wrong.

US coal giant Peabody Energy posted its best-ever performance in 2011, with revenues increasing 18% to $7.97 billion and operating profit rising by the same percentage to $1.59 billion.

Cliffs Natural Resources Inc., a US iron ore and coal producer, is anticipating lower prices and volumes of iron ore shipped in the fourth quarter.

The federal government disassociated itself on Thursday from an embarrassing official policy paper that said the country’s independent energy regulator, now studying a controversial oil pipeline, is in fact a government ally.