The US coal industry scored a victory in court Thursday after a federal judge ruled that the Obama administration did not have authority to tighten oversight of permits used by coal mining companies that do "mountaintop mining." The ruling by the U.S. District Court says the Environmental Protection Agency (EPA) "exceeded its authority under the Clean Water Act when it issued tougher environmental guidelines related to fill material dumped into streams after the tops of mountains are blasted off to extract underlying coal seams," reported The Wall Street Journal. The National Mining Association sued the EPA last year over the issue.

Copper traders and analysts are the most bullish since August on speculation prices at a one-year low will spur China, the world's largest buyer, to build stockpiles.

Cline Mining Corporation ("Cline Mining" or the "Company") (TSX:CMK) is pleased to announce that Xstrata Coal has agreed to acquire 100% of the Company's metallurgical coal deposit within Cline Mining's Lossan property ("Lossan") for CDN$40 million, subject to customary conditions. Closing is expected to occur on or about October 12, 2011. Lossan is located in the Peace River Coalfield of north eastern British Columbia, Canada and has an NI 43-101 compliant resource of 240 million tonnes. Lossan covers an area of approximately 3,800 hectares.

Cameco (TSX:CCO) (NYSE:CCJ) announced today that the Canadian Competition Bureau has issued a "no action letter" in connection with Cameco's offer to acquire all of the outstanding shares of Hathor Exploration Limited for cash consideration of $3.75 per share. The issuance of the no action letter, which provides that the Commissioner of the Competition Bureau does not intend to challenge the proposed acquisition, satisfies one of the conditions of the offer.

Shares of Ivanhoe Mines (TSE:IVN) and Rio Tinto (ASX:RIO) both gained today on news that Mongolia has backtracked on a demand for a greater share of the massive Oyu Tolgoi copper-gold complex. Rio was up 4.94% on the ASX while Vancouver-based Ivanhoe jumped 13.06% on the Toronto exchange. The two companies and the government of Mongolia issued a joint release yesterday saying that all parties have "reaffirmed their continued support" for the 2009 Oyu Tolgoi Investment Agreement.

IDEX Online News reports the rough diamond market is in a rut and demand for rough is so limited, that traders are not buying goods, even if offered at 12 or even 13 percent below what DTC's roughly 80 selected clients – called Sightholders – paid for at last week's Sight. Traders cannot move it, and manufacturers claim that with the current decline in polished prices they will lose money. IDEX says from a low cost supplier, DTC – the rough diamond sales and distribution arm of De Beers – has ascended to the pricier side of the list, alongside Russia's Alrosa. Many lots also went unsold at BHP Billiton's latest tender and Diamdel's auction, with bids falling short of the reserve prices.

Brazil is offering a carrot to encourage domestic production of fertilizer while at the same time, reaching a little deeper into the pockets of iron ore miners. A Mining Ministry official from the South American powerhouse said Thursday that Brazil plans to boost taxes on iron ore while cutting the levy on fertilizers as part of a plan to overhaul mining regulations, Bloomberg reported: The government is studying a plan to double the royalty on iron ore to 4 percent of gross revenue from 2 percent of net sales now, Claudio Scliar, the ministry’s secretary for geology and mining, said today in an interview. The levy on fertilizers may be reduced from 3 percent to prompt producers to increase domestic output of the crop nutrients, he said, declining to specify the size of the cut.

Reuters reports that Albania is inviting bids for 151 mining licences this year, with 20 of them to be allocated through weekly competitions.

Metso will supply railcar dumper technology to Westshore Terminals Limited Partnership, which operates a coal storage and loading terminal located at Roberts Bank, Delta, British Columbia, Canada.