TORONTO, Nov. 18, 2011 /CNW/ - Great Lakes Nickel Limited ("GLN" or the Corporation") is pleased to announce that it signed an agreement today with Rio Tinto Exploration Canada Inc. ("RTEC") regarding an option by RTEC to acquire a 100% undivided interest in certain mining properties located in Pardee Township, Ontario (the "Pardee Property"). The basic terms of the agreement are that RTEC may exercise the option upon paying $5,500,000 to the Corporation over the course of seven (7) years, at which time it will grant the Corporation a 2% net smelter returns royalty.

South Africa's Lesedi Drilling and Mining Contracting Company focusses on employee safety and educating staff, and they believe this positions Lesedi ahead of its competitors, they report in today's press release.

"Safety has to be a culture in which people instinctively act in a safe way," notes the Lesedi website. "That can only happen if the top and middle management of the company live, breathe and champion safe working practices all the time and the people operating machinery are properly trained."

Marketwatch reports China’s leading market for precious metals trading increased its silver margin requirements Friday to a fresh high amid heightened volatility in precious metals. The Shanghai Gold Exchange lifted silver margin requirements to 18% of a contract’s value, up from 15% previously, according to data provided by ScotiaMocca, the metals unit of Scotia Capital. In morning trade in New York silver for December delivery was up 1.2% at $31.90 an ounce after retreating in East Asia and recovering from a 7% tumble on Thursday. Yesterday a Reuters poll predicted silver at $50/oz at the end of next year, exceeding the $48.61 record high set in April.

Aurico announced on Friday open pit pre-production development has commenced at its Young-Davidson project after the company completed the first open pit blast on Thursday. Commissioning of the Young-Davidson mine project remains on schedule with the first gold pour anticipated for the end of March 2012. The 100%-owned Young-Davidson gold mine in northern Ontario is expected to produce 200,000 ounces per year by 2015. AuRico Gold has projects in Canada, Mexico and Australia and five operating properties including the Ocampo mine in Chihuahua State, the El Chanate mine in Sonora State, the El Cubo mine in Guanajuato State, as well as the Fosterville and Stawell gold mines in Victoria, Australia.

A major expansion to an existing coal mining operation near historic Bryce Canyon National Park is getting a frosty reception in tourism-friendly Utah, reports Steel Guru. Alton Coal Development LLC and partner Kane Mining want to expand their reserves at the Coal Hollow Mine — Utah's only coal strip-mine — just one year after the mine opened. The expansion to more than 3500 acres requires the approval of the US Bureau of Land Management. But opponents are already lining up against the proposal, with one online petition signed by over 21,000 people.

Wind turbine manufacturers are scrambling to find alternatives to a key element used in direct-drive permanent magnet generators (PMGs), thanks to skyrocketing prices and diminishing supplies of crucial rare earths. China currently provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors. However, the Chinese government has put new restrictions on rare-earth mining that have resulted in lower supply levels, according to a report from research firm Roskill Information Services (RIS).

The International Energy agency says in its World Energy Outlook 2011 released last week, widespread deployment of more efficient coal-fired power plants and carbon capture and storage (CCS) technology could boost the long-term prospects for coal, but there are still considerable hurdles. The agency says more efficient technology for new coal power plants would require relatively small additional investments, but improving efficiency levels at existing plants would come at a much higher cost. The IEA says If CCS is not widely deployed in the 2020s, an "extraordinary burden" would rest on other low-carbon technologies to deliver lower emissions in line with global climate objectives. Today only two small pilot projects in Germany and the US exist and a $4.8 billion project in the UK, which would be the world's largest appears to be going nowhere.

Hathor Exploration's (TSE:HAT) board recommends that shareholders accept Rio Tinto's (LON:RIO) all-cash offer of Can$654 million. Rio Tinto increased its all-cash offer to acquire all of the outstanding common shares of Hathor to $4.70 per share. The offer represents a premium to Cameco Corporation's previous offer of Can$4.50 per common share.

Gold futures for December delivery dropped 3.2%  or $57 to $1,717.30 an ounce on the Comex division of the New York Mercantile Exchange by early afternoon on Thursday. Gold's weakness flies in the face of new data from the World Gold Council showing investment demand at record highs and voracious jewelry demand from China, and investment bank Morgan Stanley picking gold as its top commodity for 2012 and predicting a price of $2,200 an ounce in the first half.