After deadly collapse, Congo vows to remove illegal miners from Glencore concession

After announcing an economic report today, shares in Prophecy Platinum traded hands at six times their usual volume.

Canada-based Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) said Monday that despite several meetings with Papua New Guinea's government representatives in the last two weeks, the company is still battling authorities in regards to its obligation to complete the agreement reached in March last year for Nautilus Solwara 1 copper project.

The Democratic Republic of Congo’s Ministry of Mines went on the defensive on Monday about allegedly granting mining licenses to companies with close connections to the government. It qualified those accusations as uninformed and a “double standard."

First Nickel has updated and optimized its mine plan, result in a new $86.9 million net present value.

"Natural resources companies with a pipeline of, say, five projects in five different countries are now likely to build just two or three of those. Thus, executives have the power to cherry pick which combination of country and project offers the best returns."

Peter Koven at the National Post looks at the Vancouver-based DeepGreen Resources, a private company that just signed 50% off-take agreement with mining giant Glencore International.

The three losing bids were all from the US and the deal marks a decisive shift in the commodities trading business away from Chicago and London to Asia.

John Macken, who recently gave up being president of Ivanhoe Mines, was BC’s top paid executive and brought home a total $23.358 million […]

"It's very difficult to foresee what's going to happen to copper prices, but the market remains strong and should stay that way," Sartain said at a press conference in Chile.