Shares of Primero Minerals (TSX:P) crashed 13% Thursday after a month-long strike and lower-than-anticipated gold grades at its San Dimas silver/gold mine in Mexico forced it to revise its 2011 guidance. The Toronto-based company said it will produce 80-85,000 ounces of gold this year compared to the previous estimate of 90-100,000 ounces. The silver production target remains unchanged at 4.5 to 5 million ounces of silver.

Authorities in Belgium are investigating a case that may turn out to be the country's largest ever fraud. De Tijd this week published some of the names from a list of 170 of Antwerp diamond traders who it claims are being investigated by authorities for spiriting almost $1 billion (€700 million) in unpaid taxes into secret Geneva bank accounts. Approximately 80% of the total world production of rough diamonds is traded by the 185 gem companies operating in Antwerp (pictured) and 50% of the globe's polished diamonds pass through the Flemish town. The Antwerp traders are among a much larger roster of at least 24,000 HSBC Private Bank clients from Canada, India and Germany under investigation by French authorities since 2009.

Amid dire predictions about job losses and the drying up of investment in the sector due to a proposed carbon tax come more bad news for Australia's coal miners. Platts reports New South Wales plans to increase the royalties it receives from coal companies to offset some $400 million in extra costs to the state's coal-fired electricity generators due to the very same federal government carbon levy. Around 95% of NSW's royalty revenue comes from coal mines where rates currently top out at 8.2% of the value of production and is forecast to rise to $2.1 billion in the year ending June 2013 after the hikes come into effect.

With bucket sizes ranging from 18-35 m3 (depending on materials), it has an operating weight range of 216-220 ts (depending on configuration) and is powered by a Tier 2-compliant Komatsu SSDA16V160E-2 engine rated at 1,316 kW net. It is available in two configurations, standard boom and high lift boom.In standard boom configuration, it can load Komatsu HD1500-7 (144 t capacity) and similar-class trucks in four passes, and 730E(184 t capacity) trucks in five passes.In high-lift boom configuration,it can load 830Es (222 t capacity) trucks in seven passes. Photo courtesy of Komatsu America Corp.

Fourty-seven American states and the Navajo Nation will receive funds totaling $8,441,000 from the Mine Safety and Health Administration (MSHA) for health and safety training, Aggregates Manager reports.

Grantees will use the funds to provide federally mandated training to miners. The grants cover training and retraining of miners working at surface and underground coal, and metal and nonmetal, mines, including miners engaged in shell dredging or employed at surface stone, sand and gravel mining operations.

Caterpillar Inc. acquired 100% interest in the Pyroban Group Ltd. on August 31, 2011. Pyroban Group is a leading provider of hazardous area safety solutions to the oil and gas, industrial material handling, mining and marine markets. Headquartered in Shoreham,UK, Pyroban Group has additional locations in Europe, Singapore and China.

The price of December gold added $52.50 or 2.9% to trade at $1,870.30 an ounce in afternoon dealings on Thursday regaining much of the ground lost since hitting an intraday record of $1,923.10 an ounce on Tuesday. During August the metal added 12% as investors sought a safe haven from the slumping US economy and the continuing debt crisis in Europe. The ECB on Thursday decided to keep interest rates at 1.5% and cut forecasts for growth in the euro area while in the US jobless claims came in worse than expected. Bullion was also boosted by comments from the US Federal Reserve chief Ben Bernanke who all but confirmed a new round of stimulus will be announced at a meeting later this month.

Goldcoast.com reports: A new apprenticeship scheme, developed by the National Apprenticeships Program with support of the government and the mining industry, will be fast-tracking as many as 1000 people on the Gold Coast, Australia, into mining and energy jobs.

The scheme is targeting those who have relevant skills but no formal qualifications, including people who have partly completed an apprenticeship, permanent Australian residents with overseas qualifications, ex-members of the defence force and trades assistants from the construction and engineering industries.

Extending the Neves-Coro mine in Portugal will add $100 million to the net present value (NPV) and push the life of the mine into 2026, Lundin Mining (TSX:LUN) said today. The company released the feasibility results for Lombador Phase 1, which plans to exploit the uppper portions of the Lombador zinc/copper ore bodies.