The head of Rio Tinto's (ASE:RIO) iron ore business in Western Australia has expressed optimism about the sector's prospects despite a plunge in spot prices this year and concerns over China's growth.

UBS's Director of Floor Operations Art Cashin warns that the United States economy could be on the verge of runaway inflation due to the Fed's swelling of the money supply.

Australian iron ore titan Fortescue Metals Group (ASE:FMG) has increased the size of its credit facility by USD$500 million.

The world's largest platinum producer has announced losses to revenue of $126 million as result of protracted labor disputes in South Africa.

Copper futures fell on Friday on expectations that Chinese trade and economic growth data slated for release next week will disappoint.

Net imports of both rough and polished diamonds plunged 91% year-on-year in August to $25 million.

Analysts say more coal jobs will be axed in the Australian tropical state of Queensland as the beleaguered resources sector continues to weather a barrage of adverse factors.

Investment expert James Turk says a massive short squeeze on gold and silver is approaching which will serve to push prices for both the precious metals higher due to panic buying.

Africa-focused copper miner Discovery Metals (ASX:DML) has rejected a bid from Shanghai's Cathay Fortune on the grounds that the proposed AUD$830 million consideration is insufficient.

Fortuna Silver Mines (TSX:FVI) has logged major gains in the output of silver and gold from its two mines in Latin America for the third quarter of 2012.

The Chuquicamata mine in Chile - the world's largest open cut copper mine, will commence underground operations after nearly a century of open-cut production.

John Hathaway of Tocqueville Asset Management says gold is set to hit record highs on the persistence of a negative interest rate regime.