BHP Billiton reported record annual results and beat analyst estimates in the process, after prices of copper, iron ore and coal reached all-time highs because of demand from China. Profit at the world's biggest miner surged 86% for the 12 months $23.6 billion, a full $1.4 billion ahead of expectations, on the back of earnings from iron ore, its biggest division, which jumped 122% to $13.3 billion.

Mountain Province Diamonds said on Wednesday it is breaking off talks with unspecified parties that showed an interest in the company and is instead focusing on advancing its Gahcho Kué project and to arrange its share of the financing which amounts to some $600 million. Shares in the little-traded company jumped almost 8% on the news.

A massive seam of pure gold worth at least nine billion pounds has been discovered in one of the poorest regions of eastern Germany.

The economic malaise that had markets pushing deep into the red over the last two weeks hit a bright spot on Tuesday. Copper futures rose the most in over a week, Bloomberg reported, on news of an uptick in the Chinese manufacturing sector.

As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far too fast in recent weeks. Gold investors at several firms said gold prices could correct sharply, citing overvaluation. While that does not mean prominent bulls are now bears, they recommended investors take profit on gold holdings, after the precious metal traded briefly above $1,900 on Tuesday for the first time.

The Ghana government handed over state-owned Ghana Consolidated Diamonds (GCD) to a new investor, Great Consolidated Diamond Ghana Ltd (GCDGL), at a ceremony held on Tuesday in Akwatia, 80 km northwest of here.

Macarthur Coal Ltd. has nearly doubled its full year profit and repeated its advice to shareholders to reject a takeover offer from U.S energy giant Peabody Energy Corp. and Luxembourg-based steelmaker ArcelorMittal. The company's 241 million Australian dollars ($253 million) profit for the fiscal year through June announced Wednesday was up 93 per cent from AU$125 million in the previous year despite reduced production due to record rainfall.

The economic consequences of the Supreme Court ban on mining in Bellary are beginning to be felt in thousands of homes in Karnataka as their primary bread winner is facing an axe or has already been pink-slipped. More than 30,000 people working for mining and steel companies are jobless. Another 15,000 workers employed in over half-a-dozen steel companies and 77 other related-industrial units face layoff threat as their companies face an acute shortage of raw materials (iron ore).

TSX V-quoted Noront Resources on Tuesday published the results of a prefeasibility study into its Eagles Nest nickel-copper-platinum project in Ontario’s Ring of Fire, outlining a $734-million capital investment for a one-million ton a year mine.