CHARTS: Mining rally running out of steam as copper price weighs

The Hindu Business Line reports the Tummalapelle uranium mine in the YSR district of Andhra Pradesh, India, will be commissioned by early April.

Russia's state railway firm Russian Railways plans to build a train line to transport coal in Indonesia's East Kalimantan province on Borneo island, with $1.7 billion of investment for a first phase due to be operating by 2017, Indonesia's government said on Tuesday.

Hint of significant gold and copper deposits have been found in Rajasthan, Karnataka and Uttar Pradesh, with the gold reserves believed to be world class.

Eurasianet reports two new studies say the massive Kumtor gold mine, controlled by Canada's Centerra's and the Kyrgyzs government, as a matter of routine ignores environmental legislation endangering species such as the snow leopard and is damaging Central Asia’s water supply.

After staging an impressive comeback from October's lows, the rally in iron ore prices seems to have run out of steam.

Vale SA is diverting iron ore shipments to the Philippines as a way of shipping its product to China, as the Asian economic powerhouse continues to resist super-sized vessels destined for Chinese ports.

The meltdown at the Fukushima Daiichi nuclear plant last March had uranium investors fleeing for the exits. While the nuclear fuel used to make yellowcake had enjoyed something of a renaissance (after tanking in 2008-09 due to the financial crisis) in the runup to the earthquake and tsunami that rocked Japan, all that changed in the aftermath of the quake.

On the last day of Roundup, Vancouver's mining showcase, Sandy Chim CEO of Canada's Century Iron Mines, flashed a few slides about China, India and the iron ore market that would make gold bugs green with envy.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2012) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) Deputy Chairman Peter Meredith said today he expected the company's 14-member Board of Directors will continue to maintain a majority of independent directors, in accordance with the December 8, 2010, Heads of Agreement signed by Ivanhoe Mines and Rio Tinto.