The price of gold was steady near $1,600 Thursday morning as traders await cues from the European leaders summit, due later today, on a second round of aid for Greece. Gold for August delivery, the most actively traded contract, edged up $3.20 to $1,600.10 an ounce.

Eleven firms have been pre-qualified for a concession to manage the Mui Basin coal deposits in Kitui and construct coal-fired power plants as the government steps up efforts to reduce the country's reliance on hydro electricity. The investors, drawn from South Africa, Japan and China are expected to submit proposals to explore and develop the coal resources in four blocks covering an area of 500 square km in parts of Eastern Kenya.

City broker UBS says global mining firm BHP Billiton's (LON:BLT) June production figures were slightly better than expected and gives the stock an unchanged 12 month rating of a 'buy' with a target price of £28.40. The mining giant released the figures yesterday across the spectrum of its resources, including iron ore production up 14 percent year-on-year in the final quarter.

Lonmin PLC (LMI.LN), the world's third largest primary platinum producer, Thursday said it expects to meet its annual platinum sales target, provided there are no work stoppages, and raised its annual unit cost guidance to reflect reduced output in previous quarters. The U.K.-listed, South African miner expects to sell 720,000 troy ounces of platinum in the financial year ending Sept. 30 and expects annual unit costs to rise 11%, up from a previously forecast 8%, due to production setbacks stemming from industrial action and six fatalities during the first six months of the financial year.

Russian gold miner Petropavlovsk’s recorded a 32% rise in total gold production in the first half of the year and said it was on track to achieving its target of 600,000 ounces of gold for the year. During the period between 1 January to 30 June, Petropavlovsk reported total attributable gold production of 219,100 ounces, a 32% jump from 166,300 ounces in the comparable period last year.

The federal government is set to announce Thursday a comprehensive environmental monitoring plan for the oilsands that will boost tests on water, air, animals and plants — and seeks to spruce up the international reputation of the massive bitumen resource. According to government sources, the $50-million "integrated oilsands environment monitoring plan" developed by teams of scientists will spur increased scrutiny of everything from acidification in lakes to the health of fish — across provincial and territorial boundaries.

COAL seam gas protesters have accused the prime minister of being too gutless to talk to them about an industry they say is a threat to Australia's food security. Julia Gillard attended a community forum at Ipswich, southwest of Brisbane today, but avoided 30 rowdy protesters by going in and out a back door. Waving placards reading "Can't eat coal, can't drink gas", the protesters had hoped to pressure Ms Gillard over a moratorium on CSG projects until environmental effects are better understood.

NRW Holdings, leading provider of civil and mining services to the resources sector in Australia, in joint venture with the Ngarluma and Yindjibarndi Foundation Ltd (NYFL) and Eastern Guruma Pty Ltd, has been awarded a contract worth approximately A$80 million for mining at Fortescue Metals Group (Fortescue’s) expansion project the Solomon Hub.

PT Freeport Indonesia (PTFI) Geo Services Division recently enhanced the slope monitoring system at Grasberg mine with the purchase of two IBIS-M radars. “Grasberg mine is one of the few mines in the world that utilises very high-technology monitoring equipment to help detect slope movements. The IBIS-M radars are top-of-the-line radars, using technology that is accurate to within approximately 0.1 mm, with coverage at some 2 km an area around 5 km square, and operating range of 10 m to 4,000 m,” explained PTFI Superintendent - Geotechnical Pit Engineering and Stability Rahadian Widiadi.