This is the breakthrough company of Mines & Money 2017

Despite weeks of negotiations, India has yet to reach a potash supply agreement with major potash suppliers, includingCanpotex, and is holding out for a lower price in order to bridge the gap between the international price of potash and the benchmark import parity price fixed by the government.

Robert Friedland, Chief Executive Officer of Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), issued an operations update today that reports on progress being achieved on the development of principal projects in the portfolios of the parent company and its subsidiaries and associated interests. Key developments: Full-scale construction at Ivanhoe Mines' flagship Oyu Tolgoi copper-gold-silver mining complex is continuing toward a projected peak level of activity that is expected to be reached during the third quarter of this year. The total number of workers engaged at the Oyu Tolgoi construction site has more than doubled since March 1, 2011, as part of the build up to the peak of construction and currently stands at 12,497.

India, the world's largest diamond processing market, is in a bind. The country that imported close to $7.5 billion in rough diamonds last year has not been able to shake off the embargo on the import of diamonds from Zimbabwe. Traders maintain that this has left the door wide open for more imports into China. In a bid to crackdown on reports that conflict or blood diamonds are being smuggled into India and laundered there, the Indian government had earlier blocked the import of roughs from Zimbabwe.

Indonesian coal giant Adaro Energy expects 2011 coal production up 5 million tons from last year to 46-48 million tons and then to nearly 50 million in 2012, while Bayan Resources is aiming to more than double its output to 25 million tonnes by 2013. Indonesia is expected to make up 39% of the global increase in coal exports, with Adaro and top miner Bumi Resources becoming two of the top three exporters by 2015. Australia will follow closely behind in terms of growth. India will surpass Japan as the leading buyer of Indonesian coal this year, the country’s coal association told Reuters, and India’s demand will continue to surge as electricity demand is expected to rise 56% by 2017.

Indian traders on Saturday sent gold prices higher amid the Indian wedding season and firming overseas trends and silver snapped its three-day losing streak. On global markets on Friday Gold for August delivery added $9.70 to $1,542.40 an ounce after US economic data showed job growth slowed to a crawl in May. The weak dollar and the spectre of a return to recession in the US on top of a European debt crisis have buoyed the gold price this year and long term fundamentals – buying in India and China – remain strong. India remained the top purchaser of gold buying 291 tonnes in the first quarter while China added 93 tonnes of bars and coins from January to March, more than double the 2010 level and jewellery demand increased 21% from a year earlier to a record 143 tonnes.

SouthGobi Resources announced that it has been notified by the Mineral Resource Authority of Mongolia (MRAM) that the company's Soumber coal deposit has been officially registered. The registration process includes calculation of resources to Mongolian standards, review of the calculations by MRAM-appointed industry experts, and defense of the calculations before the Minerals Resource Committee. Mineral deposit registration is a prerequisite for applying for a Mining License.

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.

In a filing to the Bombay Stock Exchange on Friday, Tata Chemicals said that its subsidiary Valley Holdings has bought a 32.9% stake in EPM Mining Ventures, which is the process of developing a potash prospect in Sevier Lake, Utah. According to the Financial Post talks between India and producers at the International Fertilizer Industry Association's annual conference in Montreal broke down on Friday. At some 7m tonnes/year India is the second largest importer of potash in the world and is asking for a 10% discount on the current price of $500/tonne.