According to a detailed report in the U.K.'s Sunday times newspaper, Global mega commodities group, Glencore, which recently listed in the London stock Exchange's largest ever IPO, is considering a what appears to be a £12 billion (US$20 billion) friendly takeover of European-based diversified mining and metals company, ENRC (Eurasian Natural Resources Corporation). If such a move takes place this would convert Glencore from the world's largest commodities trading group into one of the globe's biggest integrated mining and metals companies - even without taking into account its 35% stake in Xstrata.

Alderon Resource Corp. (TSX.V: ADV) (OTCQX: ALDFF) is pleased to announce that its summer/fall 2011 drill program has commenced at the 100% owned Kamistiatusset (“Kami”) Iron Ore Project in western Labrador. The CDN $11 million program will consist of 26,000 metres (m) of drilling and is designed to upgrade the current resource as well as expand the known zones of mineralization and target new areas. Image by Alderon Resource Corp

Stock in Allana Potash Corp jumped by more than 10% to $2.14 with almost 3m shares changing hands – more than double the daily average – by noon on Monday after the company announced it has intersected three zones of potash mineralization - one of which returned the highest grade potash on the project to date – in the southwest portion of the company's land position. Listed on the TSX-Venture exchange Allana's major focus is on a previously explored potash property in Ethiopia with among others the backing of the World Bank. The counter is up close to 200% so far this year and most of the assets at the company's 160 square km Dallol project are still being quantified.

Endeavour's Youga Mine in Burkina Faso produced 20,056 ounces of gold during Q1 2011 at cash cost of $664 per ounce sold1. Endeavour reiterated its production guidance for 2011 with a production target of 84,000 ounces of gold at cash cost of approximately $600 per ounce sold1. At March 31, 2011, the Corporation had cash & equivalents and marketable securities of $196 million and was debt-free.

Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the results of a recent diamond valuation exercise undertaken in support of the ongoing feasibility study at the Renard Diamond Project, Stornoway's 100% owned flagship project located in north central Québec. The diamond valuation was performed under the supervision of WWW International Diamond Consultants Ltd. ("WWW") in Antwerp, Belgium between May 9th-13th, 2011.

Four more financial institutions have joined Maple Group Acquisition Corp's plan to mount a hostile bid for the TMX Group (X.TO: Quote) and top a friendly offer from the London Stock Exchange Group (LSE.L: Quote), the consortium of Canadian banks and pension funds said on Sunday. Desjardins Financial Group, GMP Capital Inc (GMP.TO: Quote), Dundee Capital Markets (DCM.TO: Quote) and Manulife Financial (MFC.TO: Quote) have agreed to join Maple's C$3.6 billion (US$3.7 billion) bid for the operator of Canada's main bourse.

Indian gold demand has grown 25 per cent despite 400 per cent price rise of the rupee in the last decade. Newly published research from the World gold Council reaffirms India as a key driver of global gold demand, with an expected increase by over 30 per cent in real terms. This research suggests that by 2020 cumulative annual demand for gold in India will increase to excess of 1200 tonnes or approximately Rs. 2.5 trillion, at current price levels.

Germany’s May crude steel output of 4.1 million mt marked a 1.1% increase on the prior year, as Europe’s largest steel producer […]

Rhino Resource Partners is pleased to announce today the acquisition of the Elk Horn Coal Company, LLC ("Elk Horn") for approximately $120 million in cash with no assumption of debt.   Elk Horn is a coal leasing company located in eastern Kentucky with approximately 156,000 acres of owned mineral.  Incorporated in 1915, coal has been mined from its properties for almost 100 years.  Elk Horn will broaden Rhino's sources of income by providing a stream of royalty income without the assumption of additional operating risk.