Nazi ‘gold train’ treasure hunters show alleged picture of found wagons

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.

After a three-week hunt Canada's Silvercorp Metals on Friday found the alleged short-sellers behind an effort to drive down the company’s stock price. The company is suing two New York-based websites – Chinastockwatch.com and Alfredlittle.com – for spreading false information. While Silvercorp was trading down 1.4% in early afternoon trade losses among silver heavyweights were much deeper with bellwether Silver Wheaton skidding 11% as the precious metal plummeted 17.7% to barely above $30/oz. Silvercorp is up 0.6% over the last two trading days against the S&P TSX index which has bled 7%. It was the worst trading day for silver in decades.

As commodities prices including precious metals were plummetting Thursday on more bad economic news, the Premier of British Columbia provided a glimmer of hope for the BC mining industry. In unveiling the province's job-creation strategy, Clark said the government plans to capitalize on high demand for minerals, especially in Asia, by opening up eight new mines in the next four years and expanding nine more by 2015.

Reuters says trouble may be brewing in the Marcellus shale formation after a Pennsylvania appeals court raised questions about claim ownership. Image […]