Mining Weekly reports that the Western Australian Chamber of Minerals and Energy (CME), the Queensland Resources Council (QRC), and the national industry skills council, SkillsDMC, have signed a memorandum of understanding (MoU) to identify strategies to source skills for the Australian mining industry over the next three years.

In a joint statement, the three parties said on Tuesday that the projects under the MoU included defining and implementing a national skills policy for the resources sector, providing workforce planning data, brokering funds to support skills objectives, and establishing lead agencies for projects to maximse the strength and opportunities provided by the partners.

A Mine Concept Study conducted by Steffen Robertson Kirsten (SRK) on the Bungaroo South project has confirmed both the technical and financial viability of a mine development. The mine plan supports a 15 million tonnes per year operation with a mine life of 15 years, with production possible by 2015.

The game of corporate musical chairs has ended with more frustrations than success for the two companies concerned, after BC Iron Ltd (ASX: BCI) got annoyed about Regent Pacific withdrawing its original bid, BC Iron then successfully got the bid reinstated through Australia's Takeovers Panel, and then deciding it didn't want to proceed. The end of this chain was the expert's report to BC Iron that, in summary, said Regent Pacific's bid was neither fair nor reasonable.

TSX and Amex-listed Extorre Gold Mines took a step closer to the development of its flagship mine Cerro Moro in Argentina on Tuesday with the approval of the Environmental Impact Assessment and the purchase of the 14,000 ha that cover the project. Extorre, which was spun out of Exeter Resource Corporation last year, said the Project Pre-Feasibility Study is expected in June 2011 and start-up for the high grade gold and silver mine is scheduled for 2012. Capital costs for the mine are some $130m and cash costs are estimated at $201/ounce. Extorre is worth close to $800m on the TSX and is sitting on roughly $33m in cash. The company also owns the Don Sixto projects, and other mineral exploration properties in Argentina.

Newcrest Mining , one of the world's biggest listed gold miners, expects to resume gold production at its Bonikro mine in the Ivory Coast after a stabilisation of political and security situation in the country, it said on Tuesday. The miner said the production impact had been around 8,000 ounces of gold per month. Newcrest suspended operations at Bonikro in late March.

Red Crescent Resources (RCB.TO: Quote) said on Monday that South African miner Petmin (PEMJ.J: Quote) has agreed to acquire a 10.1 percent stake in the Canadian exploration company for C$4.64 million ($4.78 million). Separately, Red Crescent said it had signed a new definitive agreement with privately held Gensay to acquire a 75 percent interest in the Sivas copper project in central Turkey.

Encanto Potash Corp said it is on track to meet its target of doubling resources at its flagship Saskatchewan project after a First Nation council transfers mineral rights to Canada, sending the company's shares up 18 percent in afternoon trade. Encanto, which explores and develops potash properties, expects further drilling at its Muskowekwan property to commence after a referendum by First Nation on transferring the mineral rights on the reserved land to Canada.

HudBay Minerals Inc. has released its first quarter 2011 financial results. Net profit attributable to shareholders increased to $16.8 million or $0.11 per share in the first quarter of 2011, compared to $10.6 million, or $0.07 per share, during the first quarter of 2010. Earnings in the first quarter of 2011 included a charge of $5.8 million, or $0.04 per share, for transaction costs associated with the successful acquisition of Norsemont Mining Inc. in March 2011. Earnings grew during the quarter mainly due to higher metal prices and reduced exploration expense, partly offset by lower sales volumes, a stronger Canadian dollar and Norsemont transaction costs.

A gold explorer finding a million-ounce deposit is quick to say "world class", but when an established gold miner promises single-mine production of 750,000 ounces a year, eyebrows may rise. That's the production target for the Gold Fields South Deep mine in South Africa, an ongoing saga which was given further details by Gold Fields CEO Nick Holland at the recent Bank of America Merrill Lynch Global Metals & Mining Conference, in Barcelona.