When the Canadian Energy Research Institute (CERI) released its sixth-annual oilsands update in May, it highlighted the bright investment future of the industry. The University of Calgary energy economics think-tank expects $2.1 trillion to be pumped into 47 new projects between 2010 and 2035.

Mongolian-focused coking coal explorer Aspire Mining Limited has lifted production expectations for its Ovoot Coking Coal Project (Ovoot) based on the latest compilation of coal washability test results. Results from recent coal washability testing confirm a very high theoretical yield of 80% to produce a product with 8% ash content and CSNs of 8 to 9, making it potentially the lowest ash coking coal product in Mongolia.

Peregrine Diamonds reported the discovery by drilling of three new kimberlites, CH-56, CH-57 and CH-58, on the Chidliak project ("Chidliak" or "the Project"). Chidliak is located on southern Baffin Island approximately 100 kilometres northeast of Iqaluit, the capital of Nunavut, Canada.

Bloomberg reports that Oil plunged on concern that poor U.S. economic growth will reduce demand. The market news is quoted as saying: The IEA announced the release of 2 million barrels a day for 30 days yesterday to make up for supplies choked off by an armed rebellion in Libya. The U.S. Strategic Petroleum Reserve will provide 30 million barrels, European members will supply about 20 million and Asian nations the remainder.

U.S. aluminum producer Alcoa Inc (AA.N: Quote) said on Friday it won a multiyear contract worth about $1 billion to supply its new, lighter aluminum-based alloys for Airbus commercial aircraft. The news sent Alcoa stock up almost 1.8 percent to $15.55 in early trading on the New York Stock Exchange on a day when the broader market fell. Later in the morning, the shares were up 8 cents to $15.36. Image of an Airbus aircraft, operated by DHL, by Wikimedia Commons

Golden Minerals Co said it will buy Canada's ECU Silver Mining in a reverse merger for about C$302.5 million ($309.1 million) in stock and cash, to form a new silver mining company focused on Mexico and Argentina. Under the terms of the deal, ECU shareholders will get 0.05 common shares of Golden Minerals and about $0.000394 in cash for each share they hold.

Surging prices of rare earth elements, coupled with slashed export quotas from China, are creating ripples in the rare earths industry, including a call for the US government to start stockpiling the materials. Vancouver-based Quantum Rare Earth Developments Corp. (TSX-V:QRE; OTCQX:QREDF; FRANKFURT:BR3) issued a news release Friday calling on the U.S. to start stockpiling rare earths— voicing support for recent US legislation that directs the Department of Defense to set up an inventory of rare earth oxides, metals, alloys, and magnets for defense purposes.

Exotic materials are finding more and more uses, including a really expensive way to shave. Zafirro is taking orders for a $100,000 razor made with sapphire blades and a 99.95% iridium handle. Iridium is a member of the platinum group metals, and one of the least abundant materials on earth.

New training tools have been released by the U.S. Department of Labor's Mine Safety and Health Administration to help miners understand their rights and responsibilities under the Federal Mine Safety and Health Act, MSHA reports.

"All miners, including supervisors and contractors, have the right to identify hazardous conditions and refuse unsafe work without fear of discrimination or retaliation," said Joseph A. Main, assistant secretary of labor for mine safety and health. "Ensuring that miners understand their rights has been a priority of mine since well before I was appointed to this job in 2009. We hope these tools will help give miners the confidence to exercise those rights."