Swiss mining giant Xstrata Zinc has begun construction on its A$246 million Lady Loretta zinc, lead and silver underground mine. The mine, located in 140 kilometres north Xstrata’s Mount Isa operations in Queensland, has been scheduled to be in production by the end of 2013.

Goldcorp, the world's second largest gold miner, saw revenues increase by 62% over the 2010 second quarter, to $1.3 billion, on gold sales of 606,400 ounces. However, flooding, forest fires and problem equipment caused production to slip at some of the company's mines. Goldcorp downgraded its total expected gold production by six percent, from between 2.65 million and 2.75 million ounces to between 2.50 million and 2.55 million ounces.

A front-end loader operator was killed at Tooele, Utah-based Bolinder Resources LLC , a crushed and broken quartzite, when he became trapped between a moving belt conveyor and the bottom of a tramp metal magnet.

Ausdrill has received a Letter of Intent from Fortescue Metals Group for the award of a mining services contract at Fortescue’s Solomon iron ore project, located in the Pilbara region of Western Australia.

Copper Investing News delves into the history books and takes a look at copper mining on the island of Cyprus which is so closely associated with copper, that the word “copper” is actually derived from the Greek name for the island, Kupros. Cyprus’ copper deposits are being revalued and in 2010, around $13 million worth of copper was exported from Skouriotissa (pictured), the world’s longest producing commercial copper mine first explored in 1914 but exploited since the Bronze Age.

Newmont Mining Corporation (NYSE:NEM) today announced that its Board of Directors approved funding for the Conga project in Peru and the Tanami Shaft project in Australia. Combined, the two projects are expected to add approximately 400,000 attributable ounces of gold and up to 100 million pounds of copper production per year once commercial operations commence in late 2014 to early 2015.

Stocks of London-listed Sirius Minerals, the potash development group with assets in the US, Australia and the UK, jumped 5% on Wednesday after announcing financial results for the year to end March and raising £24.3 million. The company hopes to mine the UK’s only seam of potash and has started drilling in the North York Moors National Park where it has secured mineral rights for 631 sq km of land. Sirius said York Potash has the potential to turn it into a tier one potash producer.

Australian Minister for Skills, Jobs and Workplace Relations, Senator Chris Evans, launched a new virtual reality mine training and rescue simulator today at the Newcastle Mines Rescue Station in Argenton, New south Wales, Australian Labor reports.

“This amazing new software demonstrates how technology can be used to train people for the very critical task of mine rescue,” Senator Evans said. “While we would hope workers will never need to have to use these skills, or encounter mine accidents, it is reassuring to know that companies are investing in initiatives for the safety of Australian miners.” Developed by Coal Services, the world-leading software package has been developed over the past 18 months and is the latest stage of a five-year project.

Despite a flurry of mergers and acquisitions and a robust IPO market reports out on Wednesday suggest that fear is slowly replacing greed in the mining finance business. The Financial Post reports for investment bankers, the low-hanging fruit is long gone and the biggest financings are now high-risk: gold juniors in Africa, coal in Colombia and an infamous Quebec lithium play that overstated its resource. Global Mining Finance's July round-up says untrustworthy financial and resource reporting, threats of new royalty regimes, "super-profit" and carbon taxes, political turmoil, strikes and government takeovers are worrying resource investors all around the world.