Canada the world’s overall top mining destination, despite Saskatchewan fall

With revenues of $60 billion last year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector than Caterpillar. But what is it saying about the outlook for 2012?

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.

The Australian interviews investment bank Renaissance Group founder Stephen Jennings about investing in Africa. The New Zealand-born billionaire made his money in emerging markets, specifically Russia, in the 1990s, and tells the paper "sub-Saharan Africa will be one of the few markets globally offering real growth in the next few years."

In what is likely to be upbeat year for Australian mining M&A, some large Asian and U.S. companies are ready to bet on the country's coal, iron ore and uranium assets to meet booming demand for power.

Miner Fortescue Metals shipped a record 14.77 million tonnes of iron ore in the December quarter.

The Porto Sudeste tunnel project in Brazil features a 20.5 m wide tunnel and will accommodate four conveyor lines to become one of the widest tunnels of its type globally.

The market for iron ore is likely to soften this year but industry leaders Rio Tinto and BHP Billiton are not pulling in production, betting that the slowdown in steelmaking is temporary.

The country hopes the new platform will help strengthen its pricing power and wrest control from Vale, BHP Billiton and Rio Tinto, which between them control three quarters of global seaborne ore supplies.