Zinc

Bloomberg reports Chile's state-owned firm Codelco, the world's largest copper producer, plans to invest $5 billion in 2012 on capital projects, more than twice the $2.3 billion it allocated last year. Also on Friday a Santiago court blocked Anglos from selling any more shares in its Sur subsidiary while it battles Codelco over an option to acquire 49% of its Chile operations.

The Washington Post reports in a move reminiscent of the crackdown on lead in toys, more than a dozen major retailers including Target, Saks and Gap, are voluntarily halting sales of jewelry that contain more than trace levels of cadmium, a byproduct of zinc mining.

Reuters reports the London Metal Exchange has been approached by several   potential bidders and will consider takeover proposals in late February according to its CEO. The LME handles some 80% of global trade in metals futures and a takeover will help the the 134-year old trading floor to compete against rapidly-expanding Asian metal trading hubs.

Robert Friedland, Chairman, and Peter Reeve, Chief Executive Officer of Ivanhoe Australia Limited (TSX:IVA)(ASX:IVA), are pleased to announce the receipt of the $30.1 million distribution from Exco Resources Limited.

Taseko Mines on Wednesday announced it is going ahead with its Gibraltar capital program and is planning to spend $134 million to complete the project by the end of this year. The investment will increase Taseko's share of copper production capacity to 140 million pounds per year. Taseko owns 75% of Gibraltar, located in British Columbia.

US Labor Department figures released on Wednesday show the country's mining sector added more jobs in 2011 than at any other period since the early 1980s.

US mine safety authorities on Wednesday ordered Hecla to shut down the silver shaft at its Lucky Friday mine for the rest of the year following a rockburst in December and a string of accidents, two of them fatal, at the Idhaho mine during 2011.

Chile’s state-owned copper giant on Tuesday turned the screws further on Anglo-American in its bitter fight over a 49% stake in Anglo-American Sur, one of the world's richest copper deposits.

China’s Minmetals Resources Ltd has, once again, extended its $1.3 billion takeover offer for Africa-focused copper miner Anvil Mining Ltd (TSX:AVM) to Feb. 16. This is the third time that Minmetals offer has been extended since the deal got the go ahead by the Australian Foreign Investment Review Board, last October.