Zinc miners are betting a long-running global supply glut of the metal used in steel making will turn into a deficit over the next five years as old mines run dry, sparking massive investment in new projects.

It is hardly surprising that Switzerland, a country known for exports of chocolate and breathtaking mountain vistas not precious metals, would reject a gold mine in its own backyard.

Silver moved into the second quarter displaying a pattern investors are likely becoming all too familiar with, whereby the market shows signs of strength at the opening of the week, responds negatively to a midweek disappointment, and attempts to claw its way back with the approach of the weekend.

This video by mining equipment manufacturer Job Global, more educational than promotional, gives an excellent overview of longwall, versus room and pillar underground coal mining.

Copper hit its highest level in 2012 this week, boosted by strong manufacturing data from China. Steady job growth in the US too is pushing up demand, but downside risks especially in Europe remain.

Orko Silver crashed 34% Thursday on news that Pan American Silver is walking away from Orko's La Preciosa project in Mexico.

Reuters reports that Romania has backed out of a deal to sell its largest state-owned copper mine, Cupru Min Abrud.

Net losses came in at a shade under $10.5 million for the year which as mainly due to what the company termed "administrative costs" that totaled $15.2 million (it was only $800,000 in 2010) in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before.

The source of the surge in mining investment has been quite diverse, reflecting the widespread advance in prices. For 2012, gold leads the way with $3.6 billion of capital spending. But not far behind are copper-nickel-zinc mines at $3 billion, potash at $2.9 billion and iron ore at $2.7 billion as the Labrador Trough is developed.