Mexican mining production rose 22% in April from the year-ago month, led by a big jump in output of copper, the National Statistics Institute, or Inegi, said Thursday. Copper production rose 77% to 32,324 metric tons.

Police have arrested two men in connection with a theft of platinum worth over NT$44 million from a high-tech company in Hsinchu County, officials said yesterday. Police also managed to recover 18 kilograms of platinum from the suspects during the arrests in Taoyuan

The Chilean Federation of Copper Workers announced a strike for July 11 to oppose plans to privatize the state-owned National Copper Company (Codelco). The management of Codelco, the biggest copper producer in the world, is preparing for privatization, said Raimundo Espinoza, a leader of the workers' federation, FTC.

Singapore's Nava Bharat Pte plans to start construction of a 300 megawatt (MW) coal-fired power plant in Zambia by the end of 2011 and complete it by 2014, company director Ashwin Devineni said on Saturday. "We have finalised the detailed layout of the power plant initially for 300 MW and later for an additional 300 MW," Devineni said in a statement.

Silver and gold prices fell further at the bullion market on moderate selling by stockists and investors amidst continuing bearishness in the global markets. Silver ready (.999 fineness) declined by Rs 125 per kg to end at Rs 51,585 from Friday's level of Rs 51,710.

The China Post reports two of China's largest rare earths producers Rising Nonferrous Metals Share Co. and Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co. — the listed arms of state-owned companies — said they signed a deal this week to cooperate extensively in the sector. China’s tightening grip on the market became clear last week when Hong Kong customs data showed rare earth ores, metals and compounds exports fell 11% over a single month while at the same time the value of exports surged 242%. News out on Friday of safety delays for a rare earth refinery in Malaysia that would have supplied some 39% of the elements outside China is expected to put further pressure on prices.

Bloomberg reports Vale SA, the world’s largest iron-ore miner, cut its target for 2015 output by 10%. The Rio de Janeiro-based company expects to produce 469 million metric tons a year of the steelmaking ingredient by that time, compared with an Oct. 28 forecast of 522 million tons, it said today in an e-mailed statement. No more details were given. Chief Executive Officer Murilo Ferreira, who replaced Roger Agnelli this year after the Brazilian government criticized Vale’s strategy, is cutting targets amid concern raw materials demand in China will slow as the country boosts interest rates to combat quickening inflation. The benchmark Standard & Poor’s GSCI commodity index is heading for a second monthly drop.

The gold and silver markets are still in high risk territory vulnerable both ways. At the moment the direction of gold and silver, in the euro and the dollar is down.

Indian Express reports the Environment Ministry today gave its clearance for mining in six coal blocks in Orissa that are planned to feed coal to three crucial power plants, including one ultra-mega power project (UMPP). Five of these six coal blocks fell in ‘No-Go’ areas — a reference to those forest areas which are out of bounds for coal mining —because of which environmental clearance was being held up. The permission came after all the three power projects agreed to substantially reduce the forest area that will be damaged by coal mining.