Glencore boss Ivan Glasenberg to retire in 3-5 years — report

Miner Fortescue Metals shipped a record 14.77 million tonnes of iron ore in the December quarter.

TORONTO, Jan. 16, 2012 /CNW/ - Uranium One Inc. today announced record production of 10.7 million pounds and record sales of 9.9 million pounds for the full year 2011.

The Australian reports the Queensland government is going after speculative prospecting by what the state treasurer termed two-dollar shell mining companies, slapping the industry with $375 million in additional fees. Under the radical new rules competitive cash-bidding auctions for mining exploration permits will replace the flat $1,030 application fee in force currently.

Reuters reports spot iron ore was trading close to seven-week highs after a cyclone closed down the world's largest export terminal in Australia and heavy rains in three Brazilian states halted Vale's shipments.

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.

Tropical cyclone Heidi hit the west Australian coast early on Thursday packing winds up to 120 kilometres per hour, forcing seaside residents to flee rising tidewaters and closing the world's biggest iron ore export terminals.

The richest woman in the world, Gina Rinehart, on Tuesday handed her daughter Ginia (sic) directorships of three companies, including Hancock Prospecting which controls her $10 billion empire. Ginia who is 25 years old is the only one of Rinehart's four children who are not currently suing her in court in a bitter dispute over control of the family fortune.

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns and motel and hotel owners are kicking out prostitutes using their rooms to ply their trade.

Thanks to nzsucks for consulting his/her inner skeptic when reading about the mining jobs boom in Australia.