After a three-week hunt Canada's Silvercorp Metals on Friday found the alleged short-sellers behind an effort to drive down the company’s stock price. The company is suing two New York-based websites – Chinastockwatch.com and Alfredlittle.com – for spreading false information. While Silvercorp was trading down 1.4% in early afternoon trade losses among silver heavyweights were much deeper with bellwether Silver Wheaton skidding 11% as the precious metal plummeted 17.7% to barely above $30/oz. Silvercorp is up 0.6% over the last two trading days against the S&P TSX index which has bled 7%. It was the worst trading day for silver in decades.

As commodities prices including precious metals were plummetting Thursday on more bad economic news, the Premier of British Columbia provided a glimmer of hope for the BC mining industry. In unveiling the province's job-creation strategy, Clark said the government plans to capitalize on high demand for minerals, especially in Asia, by opening up eight new mines in the next four years and expanding nine more by 2015.

Avalon Rare Metals Inc. (TSX:AVL)(NYSE Amex:AVL) said that three of its staff and four visitors were injured in the crash of Arctic Sunwest's Twin Otter floatplane in Yellowknife on Thursday. All seven passengers were injured during the crash, but the company said none of the injuries are life-threatening. No other information was provided.

Arch Coal Inc. is donating $300,000 to go towards research into mine safety at the College of Engineering and Mineral Resources' Mining and Industrial Extension Department at West Virginia University, CNBC reports.

WVU said Thursday it will try to double the gift by seeking a matching grant from the state Research Trust Fund. Chief Executive Steven Leer says St. Louis-based Arch appreciates WVU's work in educating a new generation of engineers.

December gold suffered another day of steep losses, dropping $82 an ounce, or 4.7%, to $1,659.50 in New York in noon trade on Friday, as investors were forced to raise cash to cover losses suffered on global stock markets this week. Copper extended its sharp declines on the London Metal Exchange falling as much as 7.3% to $7,115.75 a metric ton. Prices declined for a sixth day in a row losing 14% this week and have now slumped 26% from the record high of $10,190 set in February. Silver was hardest hit on Friday, plummeting 11.2% to $32.48. One metals analyst summed up the day this way: “We’re in a downward spiral, and no one knows when it’s going to end."

Reuters says trouble may be brewing in the Marcellus shale formation after a Pennsylvania appeals court raised questions about claim ownership. Image […]

The unconventional liquid fuel industry, like oil sands and shale oil, is projected to grow 4.6 per year through to 2035, according to the U.S. Energy Information Administration. The government agency released its International Energy Outlook 2011 last week. The report states that geopolitics and regulation will help the unconventional liquid fuel sector sustain growth for the next 20 years and beyond.

Namakwa Diamonds sold its mining and exploration operations for US$6.25 million to Hall Farm Avenue Limited, the corporate vehicle of a management team lead by the Company’s DRC Country Manager, James Tregenza. Payment will be settled over a 5-year period, with a minimum payment of US$1.25m required in each year during this period.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2011) - Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) a Canadian based mining company, ("Silvercorp" or the "Company") on September 22, 2011 filed a lawsuit in New York County Supreme Court charging defendants Chinastockwatch.com, Jerry Katz, Alfredlittle.com, Alfred Little, Simon Moore, and several "John Doe" defendants with spreading "false, defamatory and fraudulent" information about Silvercorp on the Internet and in letters to the media and regulators. Silvercorp charged that the defendants did so to drive down the price of Silvercorp's stock in order to make their short positions in the stock more profitable.