Indonesia surprised the global mining community last week after a new rule – Government Regulation No. 24 of 2012 – was quietly announced on the mining ministry's website. A growing list of nations – and not just radical fringe territories such as Zimbabwe or Venezuela – are pushing for greater control and ownership of the resource sector on top of higher taxes and royalties.

lberta's oilsands producers are used to thinking big, and their plans to clean up the mess their mines leave behind are fully in line with the outsized trucks that prowl their pits and the outsized budgets that keep them growing.

Chile newspaper La Tercera is reporting that an appeals court has suspended environmental authorization for Goldcorp's El Morro project over objections by local communities. Construction of the mine was due to commence in September this year at a cost of $3.9 billion over five years.

Sooner or later shortage in physical silver will trigger a price move up.

Bloomberg's weekly survey of gold traders shows they are the most bullish since November 11 with 16 out of 23 predicting that the precious metal will gain this week after investors up their holdings of bullion backed funds to a record $131 billion.

Serial mega-mine developer Robert Friedland said in early February that Ivanplats will be developing the Kamoa mine in the DRC, Africa’s largest copper project that will have a lifespan that can be “measured in generations as opposed to decades.”

Anglesey Mining said that its 33% owned associate Labrador Iron Mines has raised CAD 71.6 million to finance the development of its iron ore projects in Canada.

Genwal Resources Inc., a Murray Energy Corp. subsidiary, has pleaded guilty to two misdemeanors to settle a federal investigation into the August 2007 fatalities at its Crandall Canyon coal mine in Utah.

After a volatile trading day which saw gold move within a $40 range, the precious metal ended the week firmly above the $1,700 an ounce level.