Global copper mine production to grow 3.5% annually — report

The USA's largest rare earth producer Molycorp (NYSE:MCP) is mounting a credible challenge to Chinese rare earth dominance by dramatically scaling up output and potentially increasing its global market share to 30% from 4% at present.

People should stop worrying about Chinese businesses buying up resource companies in Australia because the Chinese are no good at investing, says former Rio Tinto executive, Michael Komesaroff.

Below $120 a tonne most Chinese producers become unprofitable, but a sustained period below this level may indicate a fundamental shift in the industry.

Examples: Worldwide orders for dry-bulk vessels dropped 49% to 9.8 million deadweight  tons in the first half of 2012. The monthly index of new-ship prices in China is now at its lowest point since March 2004.

53 people have been rescued while five still remain trapped in a coal mine in China's south-western province of Guizhou following the collapse of two separate sections of the mine's tunnel within the space of several days.

The volume of rare earth minerals legally exported from China for the first half of 2012 plunged by 42.7% year-on-year to hit 4,908 tons according to statistics from China's customs authorities.

Chinese rebar prices are now 8% lower than October 2011 lows, while iron ore prices remain 5% higher.

Escalating costs and economic instability may be the two main reasons why mining companies worldwide are acquiring existing projects instead of starting their own, shows the latest report from global firm Ernst & Young.

Storied money manager Stephen Leeb says China is acquiring as much gold as it possibly can in a spate of 'controlled desperation.'