Global diversified miner Anglo American announced Wednesday it has cquired the remaining 25%, along with rights to royalties it didn't already own, in BC-based Peace River Coal Partnership (PRC), for a combined $166 million.

The strike at Peru's Cerro Verde mine is getting nasty, reports MarkeWatch, with workers aiming to "paralyze the mine." MarketWatch reported Wednesday there are no negotiations underway to end the walkout, which began Sept. 29th over demands for higher wages and safety issues.

Guyana Goldfields (TSE:GUY) got a nice bump today after the company announced an agreeement with the Guyana government for developing its Aurora gold project. The stock was up around 8.5% on nearly-double average volumes on the Toronto exchange.

Augusta Resource Corp. (TSE:AZC) — the company behind Arizona's latest copper mine — suffered a setback last week in its efforts to develop its Rosemont Copper Project.

John Garnaut identifies a disturbing trend for iron ore exporters, with Chinese steel prices falling and iron ore prices expected to follow, he writes in the Sydney Morning Herald. Garnaut quotes Chinese analysts saying that capacity utilization is declining because steel demand and prices are falling, while the prices for raw materials used in steelmaking — namely coal and iron ore — remain high. The steel and iron ore markets were bracing for "volatility on a declining trend", said Yin Jimei, an analyst at Iron & Steel Information Website in Tangshan. Xu Xiangchun, at Mysteel in Shanghai, said market anxieties over the global economy have coincided with softening domestic demand including a decline in railway construction due to a series of scandals in the Ministry of Railways.

EBR reports that Xstrata Zinc has purchased two zinc properties in Nunavut: Xstrata Zinc has completed its acquisition of the Hackett River and Wishbone exploration properties, located in the Western Kitikmeot region of Nunavut, Canada, from Sabina Gold and Silver Corp for C$50m.

Aleksandra Tomczak, writing for the World Coal Association, says the European Commission is supporting World Bank funding for a new coal-powered plant in Kosovo.

As the price of copper drops to a 14-month low on speculation of sluggish demand for industrial metals, the chief executive of Codelco — the world's largest copper producer — said buyers in China should take advantage, Bloomberg reported.

Metorex Limited (JNB:MEMTX) reached a new high in quarterly copper output, with production rising by 15% to 15,202 tons. Cobalt output rose by 11% to 942 tons.

A Chinese company has made another bid to secure iron ore and other metals beyond its borders. On Tuesday Hanlong Mining said it will buy Perth-based Sundance Resources for US$1.57 billion. AFP reported that Hanlong will acquire Sundance through a scheme of arrangement, after lifting its offer to 57 cents cash per share from 50 cents back in July.

Vale SA will likely hand over 35% of its Simandou iron ore project to Guinea. The Wall Street Journal (sub required) is reporting that Vale, one of the top three producers of iron ore, is working on an accord whereby the company concedes 35% of the Simandou project to the Guinean government. The accord falls in line with the country' new mining laws, which allow the government to increase its stake in mining projects from 15% to 35%.

The price of coking coal is likely to remain buoyant despite a recent price cut by Wesfarmers and softening Chinese demand for steelmaking inputs. Wesfarmers, an Australian conglomerate based in Perth, over the weekend cut the price it receives for its Curragh coal to US$280 a tonne over the next three months. The move prompted analysts to consider whether coal, like several commodities like copper, nickel, and zinc, is the next domino to fall as slowing global growth pinches commmodities.