Copper

Move over Mark Zuckerberg. Russia’s Mikhail Prokhorov, who Forbes ranks as the 58th richest person globally, has filed a prospectus to list his Intergeo MMC in Toronto, announcing it the day before Facebook goes public.

“Where the industry previously lacked investment opportunities and choice, it now has more projects than cash flows. All of us in the industry are having to make choices.”

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.

Can it really be worse than last year, when the copper price dropped 26% in a single month?

Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX: NDM; NYSE Amex: NAK) announces that the Board of Directors of Pebble Mines Corp., the general partner of the Pebble Limited Partnership (the "Pebble Partnership" or "PLP") has approved a budget of approximately US $107 million to advance the Pebble Project in 2012, with the objective of readying PLP to initiate permitting under the National Environmental Policy Act (NEPA) toward the end of the year.

Baja Mining stock was up 10% today after the embattled junior miner announced its CEO has resigned.

"What is more disconcerting is that while investors have over the past few weeks appeared cautious of running too short on gold, this fear looks to have evaporated."

When Kim got involved with Kazakhmys (then called ZhezkazganTsvetMet) during the 1990s the Soviet era the state company was in complete disarray and debt laden. He turned Kazakhmys into a $6 billion company and amassed a personal fortune of $3.5 billion along the way.

Rio Tinto may attempt to re-enter the mining industry in Papua New Guinea after a distastrous experience in the 1980s, according to a report this week in PNGIndustryNews.net.