Financial Post mining writer Peter Koven discusses why a perfect storm of factors has conspired to make Canada the next great producer of iron ore — with help from the world's largest customer of raw materials — China.

The balloon in uranium stocks has suddenly been popped by the imminent threat of a nuclear reactor meltdown in Japan. Jonathan Ratner from The Financial Post looks at what could happen next for uranium stocks.

First Quantum Minerals posted a US$455 million profit in the third quarter, the Vancouver-based company reported on Tuesday. That compares with $227 million in earnings in the three months ended December 31, 2009. Sales of copper in Q3 were down from the same period last year, from 98,171 tonnes in Q3 2009 to 76,290 in the third quarter of 2010. However, the company ended the year with $1.385 billion in its treasury compared to $959 million in the previous year's Q3.

BHP's $30-billion expansion of its Olympic Dam copper, uranium and gold mine could be in doubt as a result of the nuclear emergency unfolding in Japan, Barry Fitzgerald writes in The Sydney Morning Herald. With uranium stocks plunging over the last two days, BHP will have to factor in the outlook for a stable uranium outlook when determining the future of the project, which is the world's largest uranium deposit.

Capstone Mining made a dramatic move into the black last year, earning a US$72.6 million profit compared to a loss of $18.3 million in 2009. Revenues grew from $250 million in 2009 to $310 million last year. The Vancouver-based company had US$192.4 million in the bank at the end of the year, up from $118.4 million the year previously.

The Tyee online news-site, best known for edgy coverage of British Columbia politics, is publishing a series of reports on the hard-ball politicking going on in the corridors of power in Washington over Canadian oil sands. In the first installment, journalist Geoff Dembicki sets the stage for what he describes as a showdown between environmental groups and oil sands lobbyists: The battle line divides two viscerally opposed camps: Those arguing that North America's deepening dependence on Alberta's oil sands industry represents a pragmatic solution to looming energy crises, and those who say relying on oil sands crude marks an irreversible step closer to climate change catastrophe.

Australian mining company Lynas is planning to set up a refinery in Malaysia that will receive rare earth ores from its Mount Weld mine in Western Australia. Jonathan Manthorpe, an international affairs columnist for the Vancouver Sun, examines the claims of critics who wonder why the company needs to ship the ore 4,000 kilometres away from the mine.

Altius Minerals made a profit of $69.3 million, or $2.38 per share, in the three months ending January 31 — the Canadian iron ore producer's third quarter. That compares to a $102,000 loss in the same period last year. Quarterly revenues were 1.1 million versus $912,000 for the previous year's Q3. Altius also gained $84.6 million after transferring its 100% interest in the Kami iron ore property to Alderon Resources Corp. in exchange for 32.3 million shares of Alderon.

Teck Resources is blaming cold winter weather and train derailments for lower coal sales in the first quarter of 2011. The B.C.-based company expects Q1 coal sales to be between 4.6 and 4.9 million tonnes, compared to an average of 5.3 million tonnes of sales in the first quarter of each of the last six years. "Sales have been affected by unusually difficult winter weather conditions, which have caused higher than normal rail delays due to avalanches, as well as an unusual number of locomotive power failures and train length restrictions due to cold weather," the company stated on Monday.

Metalex Ventures (TSX:MTX) recovered a 0.72 carat white diamond from its James Bay lowlands project in Quebec — a joint venture between Metalex and Arctic Star Diamond Corp. (TSX:ADD). The B.C.-based company made the announcement on Friday among its latest drill results from the 9.3-hectare U2 kimberlite pipe. The discovery was made on the third of 11 drill holes, and Metalex indicated another 0.72-carat stone has been recovered from the fourth hole.

Financial Post mining writer Peter Koven inteviews Bill Boor, president of ferroalloys at Cliffs Natural Resources Inc., at this week's PDAC conference. The topic? Securing a massive supply of power to the remote Ring of Fire development.

Aurizon Minerals has reported a 44% increase in mineral reserves at its Casa Berardi mine in northwestern Quebec. That brings the gold reserves to 1.457 million ounces, with 370,000 ounces available for open pit mining in the principal zones, which are open laterally.