A proposed merger between the Canada-based TMX Group Inc. and the London Stock Exchange Group PLC is effectively dead. TMX said in a news release Wednesday that a majority of the votes cast by proxy before Wednesday’s deadline in fact supported the deal, but it was clear the two exchange operators wouldn't get the two-thirds required in a vote scheduled for Thursday. That vote has now been cancelled.

FoxBusiness.com quotes an analyst at an industry conference in Rio de Janeiro as saying on Tuesday Brazil's steel industry is "almost at crisis point," due to the country's strong currency and soaring raw-materials costs. Steelmakers have been hit by soaring prices for raw materials, including metallurgical coal and iron ore, prices for which reached record-high levels earlier this year. Some steelmakers have intensified their own iron-ore production activities in Brazil to shield themselves from high ore prices, but Brazil lacks sufficient coking coal resources.

Bloomberg reports South Africa risks cutting the mine output that contributes 8.8% of the economy as calls from within the governing political party for a state takeover of the industry deter investors, Impala Platinum Holdings said. Mine operators in South Africa are compelled by law to sell 26% of their assets to black investors by 2014 and boost numbers of black managers to help make up for discrimination during apartheid. Some companies had missed targets for 2009, the mines minister said at the time, adding that the industry had “not lived up to the spirit and intent” of the law.

An announced order for milling equipment for First Quantum's big Sentinel copper project in Zambia suggests a decision to go ahead with the project has already been taken. FLSmidth has received a contract worth approximately USD 50m from Kalumbila

Moly Mines Ltd (MOL.TO: Quote) (MOL.AX: Quote) said it got loans totalling $494 million from China Development Bank Corp(CDB) for the construction of its Spinifex Ridge molybdenum and copper project in Western Australia. The miner said the loans will include a $454 million syndicated loan. CDB will also provide the company with a $40 million working capital loan.

The Osama bin Laden household in Pakistan's Abbottabad town used to buy and sell gold jewellery, perhaps as a way to raise money, it has emerged. Nearly two months after bin Laden was killed by US Navy SEALs who raided his Abbottabad hideout in the early morning hours of May 2. Photo is from the U.S. Government.

Grupo Mexico and miners at its U.S. copper mining unit Asarco agreed to extend their existing contract for two more years, the Mexican company said in a statement on Tuesday. The contract covers 2,100 workers at Asarco's operations in Arizona and Texas and will now be valid until 2013.

China's first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China's silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.

Alcoa officials and business leaders dismissed an assertion from GOP presidential candidate Mitt Romney earlier this week that a federal labor board’s actions could threaten jobs at the Alcoa plant in Iowa. “No, we don’t see that happening,” Alcoa spokesman Michael Belwood told The Des Moines Register just before President Barack Obama’s visit to Bettendorf Tuesday. Photo of Mitt Romney 2008 campaign rally is from Wikipedia.