Mongolia may share its Tavan Tolgoi coal mining project between a majority of the six bidders shortlisted by the government and ask them to work together, Prime Minister Sukhbaatar Batbold told Bloomberg in an interview adding that the final decision is “very close.” Coal production in Mongolia doubled last year to become the nation’s top export earner, spurring the government to push through development of one of the world’s biggest unexploited deposits of the mineral. Peabody Energy Corp., a Shenhua Group Corp.-Mitsui & Co. venture, Vale SA, a Russia-Japan-South Korea group, ArcelorMittal, and Xstrata Plc were all shortlisted.

More than 1,000 workers at two BHP Billiton coking coal mines in Australia staged a third day of strikes in a dispute that is disrupting production from the world’s largest exporter of the steelmaking commodity. Analysts believe the industrial action, added to the 15% cut in annual production caused by monsoon rains and a cyclone, will support rampant prices for steel-making coal which hit an all-time high in April of $330 per tonne. Metallurgical coal accounts for A$24.5bn of the Australia’s A$202.17bn in total annual goods exports.

The Hindustan Times reports three people were feared killed while seven others were rescued in a major mining accident in Goa's Sanvordem town, officials said on Saturday. The 10 people got trapped under debris when an unstable tailing stack -- a huge heap of aluminium and silica impurities extracted along with iron ore - gave way due to heavy monsoon showers.

Potential joint-venture partners have been intrigued by a hefty oil discovery Athabasca Oil Sands Corp. made by way of happy accident. Athabasca has been approached by "several" parties keen to get in on its position in the Leduc carbonate, president and chief executive officer Sveinung Svarte told Canadian Business in an interview. Worth $6bn on the Toronto bourse Athabasca is trading down close to 20% from record highs hit in March this year when the Calgary-based company announced that it acquired more than 1.0 million acres of petroleum and natural gas rights in the Deep Basin areas of northwestern Alberta from crown sales and third-parties.

Shares of Potash Corp. of Saskatchewan, the world’s largest fertilizer producer, are down just shy of 8% for the week after losing almost 2% in late trade on Friday despite being upgraded to a buy by analysts at TD Newcrest. Others in the sector fared even worse with newcomer Karnalyte Resources shedding 4.3% while heavyweights Mosaic and Agrium lost over 4.4% and 2.3% respectively after the US Senate on Thursday voted overwhelmingly to eliminate some $6bn in annual subsidies for the country's ethanol industry.

Shares in junior precious metals miner Silver Sun Resources Corp. spiked 10% on Friday after becoming the sole owner of the Cherry Hill Mining Company, a fellow Californian gold miner. The Vancouver company's stock is up just short of 50% on the TSX-Venture exchange in 2011. Silver Sun is in the final stages of development of its gold project in Yreka, California and engaged in an on-going work programme in Mexico's prolific Zacatecas silver district and at a newly-acquired silver project Yoreme in Sonora state.

The Zimbabwe mining industry is expected to conclude a US$1 billion revolving facility at a number of African development banks to recapitalize mining firms as it emerges from a decade of hyperinflation, international sanctions and political turmoil that all but ground the sector to a halt. The mining industry, rich in precious metals and diamonds, made up roughly 20% of Zimbabwe's GDP and at $1.7bn 65% of all exports last year according to government statistics. This figure is set to increase dramatically particularly if the country receives approval to restart diamond exports currently under an international ban.

Russian news agencies report Uralkali, Russia's largest potash miner, is not planning to buy Belaruskali, a major Uralkali shareholder said on Friday. Last week it was speculated that the cash-strapped ex-Soviet republic Belarus is negotiating the sale of its most prized asset under the terms of a bail-out loan agreed with Russia. Responsible for one-third of the worlds potash fertiliser production, Belaruskali could have been worth as much as $20bn and a merger with Uralkali owned by billionaire Suleiman Kerimov would have created a group with annual production of 21m tonnes, dwarfing current number one Canada’s Potash Corp's 12m tonnes/year.

Australian junior miner Alcyone Resources has poured its first silver bullion from its 100%-owned Texas silver and polymetallic project in Queensland it acquired 18 months ago, after starting in early April this year to re-irrigate the existing silver-rich heaps at the Twin Hills mine. Alcyone says its forecast cash operating cost is around A$15/ounce which provides strong margins with the silver price hovering above A$30/ounce. It expects to start full-scale operations by the September 2011 quarter at an initial annualised rate of 1.5-2.0m ounces. The ASX-listed penny stock is up some 120% so far this year.