Yamana touts pre-feasibility results for Agua Rica copper project

Copper hit a four-month high Wednesday after the US Federal Reserve pledged to hold interest rates to near zero until the end of 2014.

Peru's Prime Minister said on Tuesday Newmont Mining’s stalled Conga project will be developed as the government could end up with a "huge" compensation payment if the $4.8 billion mine does not go ahead.

World number two miner Rio Tinto has taken a majority stake in Ivanhoe Mines, its partner on the massive Oyu Tolgoi project in Mongolia, purchasing a 51% interest. A favourite stock of punters, Ivanhoe surrendered 4% in Toronto on Tuesday.

Hana Mining moved up 4.32% today on positive drill results from its exploration property in Botswana.

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006 and the country now ranks a lowly 67th out of 79 countries in the study.

Bloomberg reports that Ivanplats Ltd., an Africa-focused mining company controlled by billionaire CEO Robert Friedland, may seek up to $1 billion in an IPO.

Quadra FNX Mining (TSX:QUX) has updated the resource at its Victoria Mine in Ontario, Canada.

Freeport-McMoRan (NYSE:FCX), which operates the world's largest gold and copper mine in Papua, Indonesia, said that its 4Q net income tumbled to $640 million or 67 cents per share compared with net income of $1.5 billion or $1.63 per share a year ago.

The Globe & Mail reports Ivanhoe Mines, building Mongolia’s Oyu Tolgoi, will scrap a controversial “poison pill” that clears the way for Rio Tinto, which already owns 49% of the Vancouver-based company, to do a complete takeover. The shareholder provision would have triggered an automatic rights offer estimated at $73 billion.