South32 survives mining sector slump, to cut $350m in costs until 2018

The Blue Mountains Gazette reports the Australian Coal Association says $1.3 billion in proposed government compensation would delay by only one year the premature closure of four of the 21 mines that an industry survey found were under threat from the government's carbon tax. On top of the carbon tax set to kick in mid-2012, Australian miners also have to contend with the new minerals resource rent tax set at an effective 22.5% rate on the so-called super-profits of the extractive industries.

Although its future is unclear, significant expansion of nuclear power capacity is projected to occur in non-OECD countries, especially China, India and Russia, according to the U.S. Energy Information Administration. The government agency released its International Energy Outlook 2011 last week. "China, Russia, and India account for the largest increment in world net installed nuclear power from 2008 to 2035: China adds 106 gigawatts of nuclear capacity over the period, Russia 28 gigawatts, and India 24 gigawatts."

Fin24 is reporting that a huge tailings dam being built in Kuma township could get kyboshed due to opposition from environmental groups, pressure groups and demands from landowners. The Kareerand tailings dam being built by First Uranium TSX:FIU, JSE:FUM 15km outside Stilfontein is a R400 million project motivated by a need to solve the ubiquitous dust cloud that currently envelops Kuma residents from 15 old tailings dams — relics from the Buffelsfontein and Hartbeesfontein gold mines — says Fin24, which describes the dam in some detail:

Griffin Coal, which was acquired by Lanco Group early this year, may generate revenues of up to USD 160 million this fiscal, according to a senior company official. The miner may produce coal up to 4 million tonnes during the March, 2011-March, 2012, period, the Lanco Group official said, requesting anonymity.

The EPA will shut down an estimated 20% of the nation’s coal plants through the ground-level ozone rule (the Cross-State Air Pollution Rule (CSAPR) ) through cap and trade that is about to be implemented in January 2012.

India's top iron ore miner NMDC Limited is close to acquiring a coking coal mine in Russia with an estimated reserve of about 70 million tonnes. The company will seek board approval for the acquisition within a few days.

The state of Montana and Arch Coal, Inc. will line up together in state court Tuesday against environmental groups seeking to derail the company's plan to mine a 1.3 billion ton reserve within the most productive coal region of the country. St. Louis-based Arch has paid $159 million to the state and Great Northern Properties to lease the Otter Creek coal tracts, located near the Northern Cheyenne Reservation.

Job growth in mining and mining-related work in Australia is expected to increase by over 100% by 2031, outpacing other sectors of the economy, The Courier-Mail is reporting. The website says the total mining workforce is tipped to more than double in the next 20 years, from an estimated 693,000 who are now directly and indirectly employed to 1.45 million staff Australia-wide:

Bloomberg reports the London Metal Exchange which handles some 80% of global trade in industrial metals futures, told members it may get a takeover offer after multiple approaches from potential bidders. The 134-year-old exchange is owned by the trading houses and banks like Barclays and JP Morgan that trade on the market which keeps fees low. Despite talk of an $1.2 billion offer as far back as 2008, it is unclear how receptive they would be to selling out after a senior executive of the exchange told Reuters in March it had no plans to change its independent status despite increasing competition, particularly in Asia.