The ‘quite unusual’ platinum to palladium ratio

NHK World reported that Japanese researchers have created a new design for wind turbines that doubles and even triples the power of conventional models. The wind lense turbines, currently operating at Kyushu University, were developed by Professor Yuji Ohya at the university's Research Institute for Applied Mechanics. A lense fits around the outside of the blades which creates a low pressure region beyond the blades and causes the wind to surge through the turbine increasing the the blades speed and the power generated.

Papua New Guinea’s new prime minister Peter O'Neill and the country's Investment Promotion Authority have moved to quell concern about proposed changes governing ownership of resources in the country saying it needs further discussion and acknowledging genealogical problems. Among sweeping changes promised for the impoverished country, PNG's new mining minister introduced a plan to hand state ownership of mineral and energy resources to customary landowners forcing mining companies to renegotiate permits and contracts. Last week O'Neill guaranteed the support of 80% of MPs he needs to preserve his majority ahead of 2012 elections by expanding his cabinet by a third.

Outotec has agreed on collaboration with the Ministry of Minerals Resources and Energy of Mongolia (MME) during the visit of Ms. Tarja Halonen, President of the Republic of Finland, to Mongolia today. According to the agreement, Outotec supports MME as a technical advisor to develop mining and metallurgical processing of Mongolian mineral resources in the most sustainable way.

Nautilus Minerals (TSX:NUS)(AIM:NUS) is to raise approximately US$100 million (C$98.1 million*) through a private placement of common shares to fund the development of its first project, Solwara 1, in the Bismarck Sea of Papua New Guinea. The placing will involve the issue of approximately 39 million shares to a number of investors at a price of CAD$2.52 (US$2.58) per share. Nautilus President and CEO Steve Rogers said the private placement would provide funds for the construction of the seafloor resource production system, which initially will be deployed at Solwara 1 – the company's first deepwater copper and gold project.

A government panel is working on a strategy to encourage discovery of rare earth elements in India, Economic Times has revealed: "The committee will look into the current availability of rare earth and energy critical elements and decide the strategy for production to ensure long-term raw material security. It will also encourage the recovery of ECEs which can be found as byproducts in the production of other minerals."

China's 27 largest steel companies saw a 15.7% decrease in the first-half profits from a year earlier for a combined profit of $1.6 billion, according to the Shanghai-based researcher Wind Info, as soaring iron ore costs squeezed margins. The woes of China's steelmakers, which have been switching to cheaper low grade ore to cut costs as prices top $180/tonne, are in stark contrast to profits at miners. Last week results for BHP Billiton showed its iron ore division accounted for the bulk of its record $22 billion in profits. BHP, Vale and Rio Tinto – control nearly 70% of the 1 billion tonne annual iron ore seaborne trade and dominate price talks.

Shares in Ivanhoe mines closed up just over 5% in Toronto on Monday outperforming the broader market and bringing the counter's gains to 23.2% over the last week. At a time when many miners across the developing world struggle to preserve their social licence, the impact of Ivanhoe's Oyu Tolgoi on the people of Mongolia stands in stark contrast: the mine will contribute a third of the country's GDP when it goes into full operation, will be mined until at least 2060 and increase the average earnings of Mongolians by 60% according to a new CNN report.

Little progress has been made in increasing renewable energy usage, but Indonesia has enormous renewable energy potential. Geothermal energy could readily meet up to 40 percent of Indonesia’s energy needs.

Reeling under raw material shortages and the extension of a mining ban, the multi-billion dollar Karnataka steel industry is in the doldrums due to continuing uncertainty over iron ore supply to their plants. The jittery industry was not even optimistic over the release of 25 million tonne (MT) of iron ore, lying at various mines in the southern state, as the modalities are yet to be worked out.