Gold investors could reap record windfall benefits from the economic uncertainty that crashed global stock markets Monday, say J.P. Morgan commodity analysts Colin Fenton and Jonah Waxman. The analysts predicted bullion could rise to $2500/ oz by the end of 2011, compared to an earlier J.P. Morgan prediction of $1800/oz, made before Standard and Poor downgraded the US debt.

Newfoundland-based Altius Minerals has expanded its exploration agreement with number-one US iron-ore miner Cliffs Natural Resources to include a new project in northern Labrador, it said on Monday. Image of serpentinized ultramafics with Cr pods in the Pipestone Pond area, by Altius Minerals

A copper mine proposed for southern Arizona is stuck in limbo while federal regulatory agencies decide whether to grant the mining company a permit. Canadian Business said Monday that Rosemont Copper is waiting for the U.S. Army Corps of Engineers to grant or deny a permit for the mine, located on a mix of private and public land in the Santa Rita Mountains some 30 miles southeast of Tucson.

Platts reported that Israel Chemicals (TLV:ICL) will supply potash to an Indian company for eight months.

Santa Fe Gold Corporation SFEG 0.00% today reported its Summit silver-gold mine in southwestern New Mexico is on track to ramp up production in Q4 2011. At the targeted production rate of 400 tons per day, output is expected to increase by 400% from current levels. Image by Santa Fe Gold Corporation

The University of Alaska has acquired a Thoroughtec simulator to help students train in its underground mining program, reports Mineweb.

The University of Alaska Southeast's goal is to develop a world-class training center that meets the workforce training needs of the mining industry by providing high quality, accessible training for both new and experienced miners. The simulator will be housed at the UA Center for Mine Training, located in Juneau's UAS Technical Education Center and will have the ability to train students in modules fully representing an articulated haul truck (CAT ADT 45B), load haul dump truck (Atlas Copco ST14) and bolter (Atlas Copco Boltec MC).

Shares of North American base metal miners tumbled on Monday along with the price of copper, zinc, and nickel after the downgrade of the U.S. credit rating by S&P amplified fears of a global economic slowdown.

After the S&P downgrade announced Friday evening, North American markets opened Monday and tumbled. The Australian stock market, measured by the S&P/ASX 200, finished the day down 2.91%, while the S&P/TSX composite was down 3.4% in morning trading to 11,796, its lowest level since August 2010. Gold breached $1,710 an ounces before settling back to $1,700/oz.

Rio Tinto and Mitsubishi are being pressured to offer a special dividend to seal a $1.49 billion attempt to mop up the shares of 150-year-old Hunter Valley miner Coal & Allied that they don't already own. The pair, which already have a combined 85.91 per cent stake in the target, made an indicative offer of $122 a share to Coal & Allied's independent directors on the weekend.