Illegal miners defy eviction from Glencore’s Congo project

Peruvian authorities met Thursday with representatives of the town of Espinar in southern Peru, to resolve a conflict between the community and Xstrata’s Tintaya copper mine, which they accuse of polluting their land and water supplies.

The mining sector's bellwether companies were all beaten down on Thursday as the price of metals and minerals continued to slide and economic indicators from across the globe painted a bleak picture for the mining industry.

The slide in the spot price of gold triggered by disappointment over the Fed's actions – or lack thereof – yesterday accelerated in Thursday trade with the precious metal giving up $50 or just over 3%.

The unusual alert, considered the Association of British Insurer's most serious warning, indicates a breach in corporate governance.

Canada's embattled Nautilus Minerals dropped 11.5% on Wednesday after Papua New Guinea said it is within its rights to terminate a deal made last year for the development of the world's first commercial seabed mine.

Besieged Baja Mining (TSX:BAJ) added another 14% on Wednesday following good gains the day before to trade at $0.205 after announcing it had negotiated a 45-day standstill agreement with lenders for its Boleo project.

London-based Anglo American (LSE:AAL) and Chile's state-owned Codelco have set this Friday as the deadline to resolve a dispute over billions of dollars in copper assets.

Rio Tinto Copper's Chief Executive, Andrew Harding, said the investment will secure low cost copper, gold and molybdenum production for the company in next two decades.

Baja says it "intends to defend this action vigorously."