To support training programs and fend off a future skills shortage, Queensland will be providing up to two-million-dollar grants for industry groups and individual companies.

The Premier said the Skills Queensland Strategic Investment Fund would have A$50-million provided by the state government each year, along with the complementary funding contributed by industry. The fund was aimed at plugging skills gaps and at supporting growing industries like mining.

With stronger balance sheets, improved credit availability and stabilizing metal prices, PwC Tuesday forecast the recovery in global metals M&A is expected to continue for the balance of this year. Iron ore targets were the primary driver of global metals M&A activity during the first quarter of 2011, contributing almost 40% of the deals worth a total of $5.1 billion, a significant increase over full-year 2010 when iron ore represented only 20% of total deals.

Thelon Capital Ltd. (TSX VENTURE:THC)(FRANKFURT:TFHC) is pleased to announce that it has, through its wholly-owned subsidiary, Clear Fork Mining, signed a second lease agreement with a private contractor to mine a second 600-acre section of its Jellico Coal Project, known as Miller Mt. It is scheduled to start production in calendar 2012. This mine site is projected to produce an average of 20,000 tons per month for approximately 7-10 years. Under the terms of the lease, Thelon Capital Ltd. will receive the greater of $7 per ton royalty or ~9% of gross sales price of the Coal. Thermal Coal is currently selling for $90 per ton and Blue Gem Coal is currently selling for $185 per ton.

Data Explorers reports the prediction of recovery of the uranium sector. The market news is quoted as saying: The Fukushima disaster caused the largest fall in the price of uranium for two years, yet a floor may have been reached as aggressive nuclear plans announced by China and India will double global uranium production, according to Bloomberg.

The executive chairman of private company Direct Nickel Julian Malnic told the Resources & Energy Symposium in Broken Hill in New South Wales that the company was currently moving to raise $A15 million ($US14.7 M) to utilise an ASX-listed shell company for listing.

Reuters reports on Tuesday Russian diamond monopoly Alrosa may use the spoils of high diamond prices to develop an asset in northwest Russia rather than let a foreign miner such as Rio Tinto onto its territory, a source close to the company said. The source said on Tuesday high diamond prices meant Alrosa had enough cash to finance development of the Sevalmaz project by itself. Russian business daily Vedomosti reported in December that it could sell a 49% stake to the global miner for almost $400 million.

The Israeli Diamond Industry website reports the governor of Zimababwe's central bank is proposing that the country sell its diamonds to fund a gold-backed currency to replace the defunct Zimbabwean dollar, which was suspended due to hyperinflation. The Antwerp-based Diamond High Council estimates that Zimbabwe will become the largest producer of diamond in the world by 2013, with an expected volume of 40m carats per year worth some $2bn annually from the rich deposits in Marange. Zimbabwe is currently the subject of an international ban on the export of its diamonds.

According to The Globe & Mail, Christophe de Margerie, the CEO of French energy giant Total on a tour of Canada’s oil sands with members of the company’s international advisory board this week, believes the resource is playing an increasingly important role in setting the global price of crude. Through a string of deals, kicked off by the $1.67bn acquisition of Deer Creek in 2005 and topped by the $1.7bn partnership with Suncor announced late last year, Total has become one of the largest oil sands players. The company plans to spend $20bn in the oil sands by 2020, but no further acquisition are planned reports the Calgary Herald.

China's Baoshan Iron & Steel Co Ltd expects to receive regulatory approval for its coastal Zhanjiang project this year, Chairman He Wenbo said on Tuesday, despite government resolve to extend a fight against overcapacity. "We will try to obtain approval this year, and are starting to build a raw materials dock," He, also president of parent Baosteel Group, told reporters on the sidelines of a company event.