The Dar es Salaam Citizen reports Tanzanite One Mining, the dominant miner of the rare gemstone only found in the foothills of Mount Kilimanjaro, has been ordered to increase the minimum wage for its employees from Sh180,000 to Sh350,000 per month (roughly US$215) as directed by the government. London-listed Tanzanite One has returned to profitability as prices for the gems which usually follow that of rough diamonds improve post-recession and is embarking on an expansion strategy, acquiring an Australian sapphire project earlier in June and reshuffling its board.

The new School of Mines at Laurentian University will be offering an executive MBA in mining, and hopes to develop specialized programs aimed at the industry's existing professionals, says Michael Lesher, director of mining initiatives, to the Sudbury Star.

"We've already been doing many of the things that mining schools have. We've got one of the top mineral exploration programs in the world, one of the best mining engineering programs in the world, and we do environmental restoration like nobody's business," he said. "We (also) want to develop programs in mining-related occupational health and safety and offer programs on aboriginal consultation as it relates to potential new mining communities up north."

BusinessDay reports on Wednesday Rio Tinto vowed not to abandon its uranium ambitions, despite conceding the recent crisis at the Fukushima nuclear power plant would slow growth in the uranium mining and nuclear power sectors for several years. Nuclear energy represents about 14% of global electricity and is set grow: 25 new plants are currently under construction in China and some 100 are on the drawing board to add to the 400 operating around the world. Uranium prices fell immediately following the Japan earthquake, but have since recovered to around US$55 per pound.

A proposed merger between the Canada-based TMX Group Inc. and the London Stock Exchange Group PLC is effectively dead. TMX said in a news release Wednesday that a majority of the votes cast by proxy before Wednesday’s deadline in fact supported the deal, but it was clear the two exchange operators wouldn't get the two-thirds required in a vote scheduled for Thursday. That vote has now been cancelled.

FoxBusiness.com quotes an analyst at an industry conference in Rio de Janeiro as saying on Tuesday Brazil's steel industry is "almost at crisis point," due to the country's strong currency and soaring raw-materials costs. Steelmakers have been hit by soaring prices for raw materials, including metallurgical coal and iron ore, prices for which reached record-high levels earlier this year. Some steelmakers have intensified their own iron-ore production activities in Brazil to shield themselves from high ore prices, but Brazil lacks sufficient coking coal resources.

Bloomberg reports South Africa risks cutting the mine output that contributes 8.8% of the economy as calls from within the governing political party for a state takeover of the industry deter investors, Impala Platinum Holdings said. Mine operators in South Africa are compelled by law to sell 26% of their assets to black investors by 2014 and boost numbers of black managers to help make up for discrimination during apartheid. Some companies had missed targets for 2009, the mines minister said at the time, adding that the industry had “not lived up to the spirit and intent” of the law.

An announced order for milling equipment for First Quantum's big Sentinel copper project in Zambia suggests a decision to go ahead with the project has already been taken. FLSmidth has received a contract worth approximately USD 50m from Kalumbila

Moly Mines Ltd (MOL.TO: Quote) (MOL.AX: Quote) said it got loans totalling $494 million from China Development Bank Corp(CDB) for the construction of its Spinifex Ridge molybdenum and copper project in Western Australia. The miner said the loans will include a $454 million syndicated loan. CDB will also provide the company with a $40 million working capital loan.

The Osama bin Laden household in Pakistan's Abbottabad town used to buy and sell gold jewellery, perhaps as a way to raise money, it has emerged. Nearly two months after bin Laden was killed by US Navy SEALs who raided his Abbottabad hideout in the early morning hours of May 2. Photo is from the U.S. Government.