Bloomberg reports Grupo Mexico must return $1.3 billion to Southern Copper Corp. for forcing the unit to overpay for Minera México, a Delaware judge ruled. The court found that the terms of the 2005 merger was unfair to Southern Copper which mines copper and silver in Peru and Mexico. The court determined that Minera Mexico, at the time the second richest copper miner after Chile's Codelco, was only worth $2.43 billion and not the $3.75 billion Southern Copper paid.

What better gauge of the health of the gold mining industry and the prospects for bullion than the value placed on the sector by miners themselves? Starting in June deals among other miners have ground to a halt but the first nine months of 2011 has been an astounding year for gold M&A, PwC reports.

China's state news agency reports all production at Freeport McMoran's Grasberg mine in a remote province of Indonesia has been halted after a pipeline was sabotaged, access to the pit and underground operations were blocked and three miners were killed in an ambush. The latest attack follows an incident last week when Indonesian security forces fired on striking workers after a protest turned violent, killing one and injuring a dozen other. Some 12,000 Workers at Grasberg began a strike on 15 September and has vowed to shut down the mine if hourly wages of $1.50 is not upped 8-fold. The local police chief said between 500 – 600 policemen are now billeted at the mine.

What is believed to be the world’s first air operated hoist with a lift capacity of 125 tons has been manufactured by materials handling and lifting specialists J D Neuhaus.

Canadian resource companies have less optimism than they had during the summer, according to the Bank of Canada's Business Outlook Survey, which was released on Monday. "Responses to the autumn survey point to less optimism among firms than in the summer survey, as weaker expectations for U.S. growth and a more uncertain global outlook weigh on business sentiment. Indicators of future business activity, capacity constraints and price pressures have all moved down from the levels recorded in the previous survey," wrote the survey's authors. Miners and other resource firms expect commodity prices will rise less rapidly over the next 12 months.

IAMGOLD Corporation, which produces nearly one million ounces of gold each year, is looking is looking for projects capable of 150,000/oz of gold per year and has two million oz of reserves. The company made the announcement during a corporate presentation in October. Bloomberg reported that the company is looking for transactions in the range of $300 million to $500 million.

SSI Shredding Systems had a video go viral when it uploaded a film of the company building a large shredder and then letting it loose on a variety of items. The video has had an astonishing 2.3 million views since it was uploaded nearly four years ago. SSI Shredding claims that the "Monster" is one the most powerful shredders on earth.

North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with Devlin's Bench Mining Ltd and P. Wright Contracting Ltd ("PWC") to enter into a joint-venture on North Bay's Fraser River Platinum Project in British Columbia. The Fraser River Platinum Property is located near Lytton in south-central British Columbia, Canada, and covers approximately 4.5 kilometers of placer claims along the Fraser River. The property includes the Van Winkle Bar, from which BC MINFLE 092ISW078 and BC Open File 1986-7 have documented historical assays of 5681 grams (182.67 ounces) per tonne platinum from black sand concentrate.

New Gold Inc. ("New Gold") (TSX:NGD)(NYSE Amex:NGD) and Silver Quest Resources Ltd. ("Silver Quest") (TSX VENTURE:SQI) today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share (the "Share Consideration") for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. ("McIntyre") for every three Silver Quest shares held (the "Spinco Consideration").