Nickel

RareMetalBlog reports the Russian government has begun creating the conditions needed for an active resumption of rare earth production- the rationale being increased domestic demand for high-tech industry and the spectre of more export restrictions by China.

Corporate Social Responsibility initiatives by mining companies operating in emerging markets in South America, Africa and Asia have become a crucial part of doing business as “above-ground risks are quickly gaining equal footing to traditional geological and engineering considerations for mining projects.”

"What is new is the growing awareness of its implications for our nation, particularly in a highly competitive world economy in which the demand for minerals continues to grow, especially in fast growing economies led by China and India."

Mount Kellett Capital Management, a 20% shareholder in Baja Mining (TSX:BAJ), has escalated the war of words between the two companies by demanding the resignation of Baja CEO John Greenslade following a damning announcement of cost overruns at Baja's Boleo project.

Declines in Chinese rare earth export prices coming off 2011's record highs have been stark. But this year some light REEs have halved again and some heavies are now almost $2,500/kg cheaper.

Vale, the second largest mining company, fell to the lowest in over six weeks today, after reporting its third consecutive drop in quarterly profit driven by declining iron-ore prices and output.

Toronto-based Sherritt International had a rough quarter, revealing on Wednesday a 50% drop in earnings from $63 million to $32 million when measured against the same quarter of 2011.

In 1992 in the junior mining sector, nobody was paying attention to diamonds. Then Lac de Gras was discovered. Within four years, there were 200 diamond exploration companies. Twenty years later, there are six junior companies still in the game. The REE junior space will be similar, but in a shorter timeframe.

Planetary Resources took the wrapper off the new company that plans to mine asteroids, and the company has half a road map on how to get precious metals out of the sky.