Swedish engineering firm Sandvik AB (STO:SAND) announced today that 365 employees will lose their jobs as a result of company restructuring. The firm said the cuts resulted from a policy implemented in September at its Materials Technology division whose main objective is to "sustainably reduce the overall cost structure by approximately 500 MSEK over a two to three year period, through such measures as reducing costs for staff and administration..." The layoffs will affect 500 Sandvik employees worldwide including 365 in Sandviken and Hallstahammar, Sweden.

A mining watchdog agency created to hold Canadian mining companies accountable is being called toothless. The Office of the Extractive Sector Corporate Social Responsibility Counsellor was formed in 2009 to probe complaints about Canadian companies abroad, but the Toronto-based agency has so far only received two complaints, one of which was dropped because the mining company chose voluntarily not to be investigated, CBC reported: "The whole counsellor position is toothless," said Toronto-based lawyer Murray Klippenstein who is involved in a case against a Canadian mining company. "It's basically a whitewash .… It's a bogus PR job, as a cover for business as usual."

A centuries-old Chinese gold coin has been unearthed in the Yukon. The Vancouver Sun reports that the coin, which dates back to the Qing Dynasty (1662 to 1722), was discovered by archeologists near the proposed Casino mine being developed by Western Copper and Gold Corp. (TSE:WRN).

Dale Alan Madson, 42, a Leadman Operator at Stillwater Mining died in a mining accident on Monday at the company's Stillwater Mine. Madson was working on the 3800 level of the mine The accident is being investigated by the Federal Mine Safety and Health Administration. No other details of the accident were released. Mining operations were suspended following the incident and will resume with the evening shift today.

For those who feel they need a little more security than buying gold through an exchange traded fund, the Royal Canadian Mint is offering exchange traded receipts backed by physical gold bullion held in the mint's facilities in Ottawa, Ontario. The Canadian mint, which announced this product on Friday, says that ETRs are different than other gold investment products since the purchaser of an ETR owns the actual gold rather than a unit or share in an entity that owns the gold. When someone buys an ETR, the money will be used to purchase gold at the London pm fix price on the closing date of the offering.

Anglo American’s Peace River Coal Mine has taken a giant leap forward in enhancing their strategic abilities by improving operator competency, safety and productivity.

CALGARY, ALBERTA--(Marketwire - Nov. 1, 2011) - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) ("TVI" or the "Company") announced today that it has been advised by its Philippine affiliate, TVI Resource Development (Phils.) Inc. ("TVIRD") that TVIRD is preparing to file a series of legal actions in Philippine courts to prevent the implementation of an Ordinance scheduled to come into effect in the Province of Zamboanga del Norte on November 6, 2011. The Ordinance, filed with no advance notice to TVIRD or TVI, purports to ban new open pit or open cut mines in the Province of Zamboanga del Norte and causes the closure process of existing such mines to begin one year from now, or November 2012. TVIRD intends to continue operating at Canatuan without disruption during this period. This Ordinance has no impact on TVIRD's gold development project at Balabag as it is in Zamboanga del Sur, a different province. Development plans continue at Balabag.

Australian copper and zinc miner Kagara Ltd. (ASX:KZL) is selling its Lounge Lizard nickel mine. "Kagara and its adviser Goldman Sachs & Partners Australia have commenced discussions with potential purchasers of Kagara’s nickel assets. Kagara expects to finalise the sale process during the first quarter of 2012," Kagara said in a statement on Monday. Reuters reported that Kagara's mining partner, Western Areas, is not interested.

Australia's new mining tax is being held up in the legislature by independents who want more controls on coal seam gas. Sydney Morning Herald reports that two independents MPs, Tony Windsor and Roy Oakeshott, are demanding curbs on coal seam gas exploration, and that hundreds of millions of environmental research dollars be spent, in return for their support for the bill: Mr Windsor, who holds the NSW seat of New England, told the Herald he had had enough of the methods of coal seam gas companies, which were expanding operations dramatically in NSW and Queensland. Mr Windsor's key demand is for $200 million to $400 million to be allocated each year from the tax revenue to fund bio-regional assessments, an idea he raised last week.