Stocks of London-listed Sirius Minerals, the potash development group with assets in the US, Australia and the UK, jumped 5% on Wednesday after announcing financial results for the year to end March and raising £24.3 million. The company hopes to mine the UK’s only seam of potash and has started drilling in the North York Moors National Park where it has secured mineral rights for 631 sq km of land. Sirius said York Potash has the potential to turn it into a tier one potash producer.

Australian Minister for Skills, Jobs and Workplace Relations, Senator Chris Evans, launched a new virtual reality mine training and rescue simulator today at the Newcastle Mines Rescue Station in Argenton, New south Wales, Australian Labor reports.

“This amazing new software demonstrates how technology can be used to train people for the very critical task of mine rescue,” Senator Evans said. “While we would hope workers will never need to have to use these skills, or encounter mine accidents, it is reassuring to know that companies are investing in initiatives for the safety of Australian miners.” Developed by Coal Services, the world-leading software package has been developed over the past 18 months and is the latest stage of a five-year project.

Despite a flurry of mergers and acquisitions and a robust IPO market reports out on Wednesday suggest that fear is slowly replacing greed in the mining finance business. The Financial Post reports for investment bankers, the low-hanging fruit is long gone and the biggest financings are now high-risk: gold juniors in Africa, coal in Colombia and an infamous Quebec lithium play that overstated its resource. Global Mining Finance's July round-up says untrustworthy financial and resource reporting, threats of new royalty regimes, "super-profit" and carbon taxes, political turmoil, strikes and government takeovers are worrying resource investors all around the world.

The Zimbabwean reports Angloplat, the world's number one producer said it was optimistic about coming to an agreement with the Zimbabwean government over its Unki mine and Aquarius Platinum's record quarter was thanks to the performance of its Mimosa mine in Zimbabwe amid continuing talks. The government of Zimbabwe, the country with the largest platinum reserves outside number one producer South Africa, is demanding 51% of all foreign-owned mines operating in the country under its so-called indigenisation laws.

Spot potash prices for the standard grade leaving the port of Vancouver rose from $445 per tonne in May to $481 in June and $490 in July and is up US$111 since December according to the Scotiabank Commodity Price Index out on Wednesday. Scotiabank also said Canpotex, the marketing agent for Western Canada's three potash producers, is virtually sold out for the third quarter this year and a third price increase this year of $30 to $40 is likely.

Marathon Resources, a uranium explorer in southern Australia, plans to meet with Mineral Resources Minister Tom Koutsantonis after the company was kicked out of the Arkaroola. The Arkaroola is located in the Northern Flinders Ranges in South Australia, adjacent to Gammon Ranges National Park. The area has been a flash point for environmentalists who want to protect the area and miners who want to develop it. Marathon Resources was exploring Mt Gee, calling it one of Australia's largest undeveloped uranium deposits.

Noranda Aluminum Holding Corporation (NYSE: NOR) today reported results for second quarter and first six months of 2011. “Our upstream integration and continuing focus on growth and productivity enabled us to convert higher second quarter aluminum prices and solid customer demand into sequential and year-over-year improvements in revenue, profitability, and liquidity,” said Layle K. (Kip) Smith, Noranda’s President and Chief Executive Officer.

ArcelorMittal South Africa (Amsa) is on target to complete the due diligence being carried out on a potential new iron ore mine in the Northern Cape by September. Amsa CEO Nonkululeko Nyembezi-Heita told investors at a presentation of the group’s interim results for the six months to end-June in Sandton on Wednesday that once the due diligence was completed further drilling would be carried out and a feasibility study undertaken.

Gold is sidelining platinum and palladium and could hit $1 800/oz by Christmas, says UBS bullion bank precious metals strategist Dr Edel Tully, who describes the present as “an extremely exciting time” to be in precious metals. Tully expects gold to be in deficit in 2011 as a result of only moderate mine-supply growth, a lower level of recycling than in 2009 and the steady buying of gold by central banks.