Chinese steel futures extend gains, track spot prices

Over $3 billion and near 15,000 job positions. That is the cost to Honduras, the third poorest country in the Western Hemisphere, as a result of a lack of rules for mining companies operating or wishing to explore in the country.

Ian Hannam, better known as the "king of mining" after advising on some of the biggest deals in the past two decades, including BHP's London listing through its merger with Billiton, is fighting to save his reputation.

Fortescue chief executive Neville Power also told The Australian newspaper that Chinese steel production growth will be lower over the next five years at about 4% – 5%, from 7% – 8% now.

Uranium company Paladin Energy Ltd (TSX:PDN)(ASX:PDN) announced it named Alan Rule as its new Chief Financial Officer effective July 23, 2012. He would be replacing the current CFO, Garry Korte, who is joining Roy Hill Holdings, owned by billionaire mining magnate Gina Rinehart.

The move will allow the London-listed miner to sell non-contracted iron ore directly into China through the electronic trading platform.

Ian Ashby, BHP Billiton's Iron Ore President, is stepping aside after 25 years with the world's biggest miner.

"They need to clearly indicate to the market what their strategy around Olympic Dam is, around shale gas, all of these things, to return confidence that they're not spending huge amounts of capex for very low returns."

Labrador Iron Mines Holdings Limited (TSX: LIM) is pleased to announce that it has received environmental approval and project release from the Government of Newfoundland and Labrador for its Houston iron ore mining project in Western Labrador.

A Port Hedland pub has banned patrons from wearing work uniforms due to rising tensions between the workers of rival Pilbara mining companies.