Moly Mines Limited (TSX:MOL)(ASX:MOL) is pleased to announce it has been advised by Hanlong Mining Investment Pty Ltd ("Hanlong"), that the China Development Bank ("CDB") has approved US$500 million in project finance facilities to develop the Spinifex Ridge Molybdenum / Copper mine. CDB have agreed to expand their commitment from the US$250 million, announced on 1st February 2011, to US$465 million and make available US$35 million in further working capital facilities to meet Hanlong's US$500 million financing commitment to Moly Mines. A formal commitment letter is expected to be issued by CDB within the next two weeks.

BHP Billiton played down speculation it was in talks to acquire a cornerstone stake that could be worth $10.3 billion (A$9.8 billion) in Australia's largest oil and gas firm, Woodside Petroleum , from Royal Dutch Shell (RDSa.L: Quote). BHP Billiton, widely rumoured to be considering a takeover of Woodside, said in a short statement that there was no basis for the market talk, which has centred on BHP acquiring Shell's 24.3 percent stake as a step toward a full takeover.

Low literacy may be keeping hundreds of applicants in Washington and Greene County (U.S.A.) from taking up the new wealth of entry-level mining jobs to be created in the next several years, Observer-Reporter reports.

...hundreds of applicants from Washington and Greene counties can't be considered for employment as so-called "white-cap" entry-level miners, earning more than $22 per hour and full benefits, because they're coming up short on basic reading and math skills.

Northern College is helping to address the shortage of skilled miners with its Hard Rock Miner Training program at Kirkland Lake campus, developed through a partnership with Kirkland Lake Gold Inc.

Created through a partnership between the school and the mid-tier gold miner, the program has provided an opportunity for those returning to the North in search of permanent full-time employment. “It is so gratifying to see those who are highly motivated and never had a chance of getting in...this is their big break,” said Rose-Lyne D'Aoust-Messier, training consultant of apprenticeship, workforce development and training at Northern College's Kirkland Lake campus.

Russia's biggest gold miner Polyus Gold (PLZL.MM: Quote), KazakhGold KZJq.L and the Assaubayev family have settled all legal claims brought against the Assaubayevs, all parties said on Monday.

Top global miner BHP Billiton has bought back A$6 billion ($6.3 billion) of its shares, or 4.4 percent of its Australian-listed shares, as part of its $10 billion capital management program. It said on Monday the final price was set at A$40.85 a share, a 14 percent discount to the market price of A$47.4985, based on the average trading price over the five days up to the close of the tender on April 8.

Hundreds of Grasberg employees protested in front of the PT Freeport Indonesia offices for two days, refusing to go to work until their employer could guarantee their safety.

Egypt has lifted a ban on the export of gold due to increasing economic and political stability, the government said in a statement on Saturday. The government decided on Feb. 27 to ban exports of gold until June 30 -- a decision which the statement issued on Saturday said was aimed at "guarding Egyptian national security and to stop smuggling of the country's wealth abroad".

Mesa Exploration Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) has acquired the White Mountain Potash Project in western Utah consisting of approximately 1,700 acres of […]