Rio Tinto is comfortable with the company's multibillion-dollar project budgets in Australia, where labour, input and services costs were all increasing, Chief Executive Tom Albanese said on Tuesday. "I'm comfortable that our budgets in Australia are being managed appropriately," Albanese said at a business lunch.

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.

The proposed Oakajee iron ore port and rail project in Australia, which last week faced the loss of a key customer, may have hit another snag, with one the two developers saying it was having problems raising funding. Murchison Metals , a 50:50 partner in the multi-billion dollar Oakajee (OPR) project, said on Monday it was now in talks with several parties, including Chinese-related investors, interested in participating in its development.

CGA Mining ( ASX: CGX , TSX: CGA ) is ramping up exploration at the Masbate Gold Project in the Philippines by allocating a US$20 million exploration budget for financial year 2012, almost triple the current years spend.

Tata Steel Ltd will use the $1.12 billion ('5,030 crore) it earned from the sale of its 26.3% stake in Australia's Riversdale Mining Ltd to fund the expansion of its steel-making capacity in Jamshedpur and Kalinganagar, as well as mining operations and capital expenditure in its European operations.

Australian stocks are set to open higher on Tuesday, following a firm finish on Wall Street, on growing optimism that Greece will avoid a debt default. Stock index futures rose 1.1 percent to 4,491.0, a 29.2-point premium to the underlying S&P/ASX 200 index . The benchmark fell 1 percent on Monday.

Papua Guinea's Prime Minister, Sir Michael Somare, has accused Australian mining giant Rio Tinto and its subsidiary Bougainville Copper Limited (BCL) of being behind the PNG military's bloody suppression of Bougainville rebels opposed to the company's

Xstrata Coal has chosen to upgrade its existing fleet of simulators based in the Hunter Valley NSW, Australia to three PRO3 base simulators and a range of equipment modules units from Immersive Technologies. This purchase supports Xstrata Coal’s ‘SafeCoal’ approach which drives the delivery of correct safety skills training to the operator workforce. The new PRO3 simulators enable Xstrata Coal to simulate a range of emergency scenarios with realism without any risk exposure to people or equipment. It is also a useful tool for pre-employment screening, targeted and refresher training.

Saskatchewan has overtaken Manitoba as the best place in Canada for oil and gas investment, the Fraser Institute's annual survey of the petroleum executives and managers found. But Saskatchewan fell just short of finishing among the top 10 jurisdictions globally, ranking 11th overall in the survey of 136 jurisdictions, according to the public policy research institute's 178-page Global Petroleum Survey 2011, which was released today