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.

Grupo Mexico and miners at its U.S. copper mining unit Asarco agreed to extend their existing contract for two more years, the Mexican company said in a statement on Tuesday. The contract covers 2,100 workers at Asarco's operations in Arizona and Texas and will now be valid until 2013.

China's first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China's silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.

Alcoa officials and business leaders dismissed an assertion from GOP presidential candidate Mitt Romney earlier this week that a federal labor board’s actions could threaten jobs at the Alcoa plant in Iowa. “No, we don’t see that happening,” Alcoa spokesman Michael Belwood told The Des Moines Register just before President Barack Obama’s visit to Bettendorf Tuesday. Photo of Mitt Romney 2008 campaign rally is from Wikipedia.

MELBOURNE (Reuters) - Sundance Resources has shortlisted potential partners for its $4.6 billion iron ore project in West Africa, it said on Wednesday, sending its shares up as much as 6 percent.

Australia's mining iAustralia's mining industry -- the main driver of the booming economy -- is 83 percent foreign-owned, according to a study released by the country's Greens party Wednesday. The report, conducted by a private consultant commissioned by the Greens, said that in the next five years Aus$50 billion (US$53 billion) in profits from Australian mining operations would go offshore.ndustry -- the main driver of the booming economy -- is 83 percent foreign-owned, according to a study released by the country's Greens party Wednesday. The report, conducted by a private consultant commissioned by the Greens, said

Moderately lower base metals, molybdenum, uranium and silver prices more than offset stronger gold, potash and cobalt prices in May, lowering the Scotiabank Commodity Price Index by 2.3% last month. LME copper prices eased from US$4.30 per pound in April to $4.05 per pound in May "and are still exceptionally lucrative at US$4.08 in late June," noted Scotiabank economist Patricia Mohr.