Gold for December delivery dropped $40, or 2.5%, to just under the $1,600 an ounce level in midday trade on the New York Mercantile Exchange on Monday, but had recovered from sharp losses which saw the metal reach a low of $1,535 shortly after the open. Talk that a bailout for the Eurozone could top 2 trillion euros failed to boost the demand for gold as an inflation hedge. Gold has now declined more than $300 since setting an intraday record of $1,923.10/oz in the second week of September, but is well clear of its year low of just under $1,300/oz and most analysts remain positive about gold's long term trend.

Workers in Australia and Norway are getting pay raises, and they are getting paid for staying on the job, not greater productivity.

OK Tedi Mining Company (OTML) has recruited and is training 32 new mining apprentices - the largest number of intakes it has had since 1982, reports The National.

The apprentices, who signed their contracts with OTML and the National Apprenticeship and Trade Testing Board (NATTB) last July, will now undergo training with OTML as required under the provisions of the PNG NATTB Act of 1986. OTML human resources executive manager Brad McMahon said this latest recruitment further stressed OTML’s strong stance on helping develop PNG’s technical human resources. “Since the first enrolment of apprentices in February 1982, OTML has trained over 830 competent skill tradespersons,” McMahon said.

In an effort to promote worker mobility and skills retention, Canada has developed a mining credentials program that will allow worker talent to be officially documented and inventoried. The first group of Canadian miners has now been included in this certification program, reports Plant Engineering and Maintenance.

This is an historic event in Canadian mining because, until now, unlike the trades, skilled workers in these occupations have never before been awarded an industry-recognized credential that supports mobility and retention within the mining workforce. The certification program was founded on a set of industry-developed National Occupational Standards, which have been developed for three key mining occupational areas: underground miner; surface miner and minerals processing operator; and diamond driller.

Detour Gold (TSE:DGC), a gold and exploration company located in northeastern Ontario, announced that it will acquire Trade Wind Ventures, which owns a property adjacent to the Detour Lake project, for $84 million. Announcing the deal on Monday, Detour Gold said Trade Winds shareholders will receive 0.0142 of a Detour Gold share and C$0.0001 in cash for each Trade Winds share held.

Ivanhoe Mines said in a statement today that the investment agreement for the Oyu Tolgoi Project remains a fair and legally binding contract that deserves and requires the unqualified support of all parties. Media reports during the weekend quoted Mongolia's Mineral Resources and Energy Minister D. Zorigt as indicating that Ivanhoe Mines and Rio Tinto would receive a letter from the Mongolian government asking the companies to consider entering into discussions to address a possible change to the investment agreement. A reported potential proposed change would see acceleration of the government's right to increase its current 34% interest in Oyu Tolgoi to 50% by purchasing an additional 16% at fair market value at some future point, after Ivanhoe Mines and Rio Tinto recoup their capital investments in the project.

India Express said that Veolia Environment plans to process street sweepings in London to extract platinum group metals. Image from Ponchitos

ALBUQUERQUE, NM--(Marketwire - Sep 26, 2011) - Lone Star Gold, Inc. (OTCBB: LSTG) ("Lone Star" or "the Company") is pleased to announce the Company signed a letter of intent (LOI) on September 23, 2011, committing to the acquisition of an option to purchase a 70% interest in a gold-silver project consisting of 2 properties in Mexico: San Luis and La Colorada. The ~1409-acre (570-hectare) project is located in the municipality of Ocampo, 192 miles (310 km) from the capital city of Chihuahua, in southwest Chihuahua State. Access to the project is by paved roads with the exception of the final 19 miles (31 km).

SPOKANE VALLEY, WASHINGTON--(Marketwire - Sept. 26, 2011) - Revett Minerals Inc. (TSX:RVM) (NYSE Amex:RVM) is pleased to provide an update on its recently initiated 2012 copper hedging program. For 2012, the company has sold forward approximately 25% of forecast copper production at US$4.00 per lb. This transaction, for 100 metric tons per month, is for copper contained in concentrates produced at our Troy mine from January to December 2012.