Rio Tinto's $US10 billion-plus Simandou iron ore project in Guinea is rapidly pressing ahead, but not like a typical giant development by the Anglo-Australian mining giant. By the end of the year, Rio is expected to have spent close to $US2bn ($1.9bn) on Simandou, including a $US700 million settlement payment to the government, and to begin construction of a project it has committed to produce from in 2015.

Tata Steel and SAIL's equal joint venture, S&T Mining Company, will set up a 1.8 million tonnes per annum (mtpa) coal washery at Bhelatand, in Jharkhand, through an investment of Rs 200 crore.

Two of the world's richest women are seeking another $136 million by suing Rio Tinto. According to a story in The Daily Telegraph, Gina Reinhart and Angela Bennett, who are heirs to the Hancock and Wright iron ore fortunes, are suing mining giant Rio Tinto over the rights to iron ore beneath as much as 150 square kilometres of the Pilbara iron ore region of Western Australia: The lawsuit in the NSW Supreme Court is seeking an estimated $136 million in past royalties dating back two decades. If successful, the legal bid could also reap the descendants of Hancock and Wright a further $25 million each year in royalties, even assuming the iron ore price halves by 2016.

Newmont (NEM), the U.S. mining group, is under investigation in Jakarta, where antigraft authorities said they are reviewing claims the group may have breached rules on the foreign ownership of mining assets.

Money managers raised bullish bets in COMEX gold futures and options to the highest level since the week of April 24, as bullion climbed to within $20 of its record during the period, data from the Commodity Futures Trading Commission showed Friday. Speculators in silver futures and options also upped their net long positions in the week ended June 21, as safe-haven demand for precious metals grew in response to disappointing economic data from the United States and persistent concerns surrounding Europe's debt crisis, according to the latest report from the U.S. regulator.

High prices sway buyers towards goods otherwise they would not have widely considered, according to exhibitors at the June Hong Kong Jewellery & Gem Fair. Buyers opted for Very Good makes instead of Triple Excellent and parcels instead of Dossier i...

Operations at the Santa Ana mine in Peru, owned by Canada-based Bear Creek Mining, have been cancelled after violence erupted at the mine on Friday, CNN reported: Following the deaths of five protesters in clashes with police Friday, the Peruvian government agreed to put an end to a private mining project in the southern department of Puno.

West Australia's Labor Party says it will ban uranium mining if it gets elected in 2013. The announcement came Friday in the form of a motion by state AMWU secretary Steve McCartney. According to ABC News: The move is set to anger Federal Resource Minister Martin Ferguson, who called the policy ridiculous last month, warning the position is not sustainable and means the state will miss out on funds for schools, education and roads.

Gov. Brian Schweitzer told ExxonMobil Corp. executives Friday that if they want to make friends in Montana they should construct some of the massive refinery modules destined for the Alberta oil sands region here in Big Sky Country.