Southern Copper wins auction for massive Peru copper project

Gold bugs are waiting with bated breath for news that the Federal Reserve and its Chairman Ben Bernanke have agreed to further asset purchase programs when the Open Market Committee releases its policy statement on Wednesday.

The $1.5 billion company currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea.

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.

The agreement over the Quebec Tres-Or gold project, which covers 6,356 hectares, outlines that Aurizon can earn an initial 50% interest by incurring exploration expenditures totaling $10 million.

Ocean Mar has been granted exclusive salvage rights to the steamship SS Islander carrying gold from the Klondike that sank near Juneau, Alaska, over 100 years ago.

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.

Canadian Yamana Gold Inc. (TSX:YRI) (NYSE:AUY)(LSE:YAU) announced a $400 million acquisition Monday of Argentina-focused junior miner Extorre Gold Mines (AMEX:XG) (TSX:XG), which has an appealing gold-silver project in the South American country, while also saying it plans to boost its dividend by 18%.

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."