Oil, Asian stocks rout deepen miners wounds

Canadian Lumina Copper Corp. (CVE:LCC) fell 8.5% Tuesday after the company hinted its expected sale will have to wait as it plans to carry a study at its Taca Taca massive copper/gold/molybdenum deposit in Argentina.

Only two months after swapping CEOs, Kinross Gold Corporation (TSX: K; NYSE: KGC) has announced its chief financial officer, Paul Barry, is leaving the company “to pursue other interests.”

Production at its four operating mines in Mexico increased 36% in the third quarter of 2012, compared to the same period last year.

Xstrata Coal (LON:XTA) began to reduce its workforce across its Australian coal operations by firing its first 40 permanent employees out of the 600 announced cuts.

Renowned investment guru Stephen Leeb says China is pushing for a stronger yuan in order to cut the cost of its commodities purchases.

The Queensland government's decision to auction licenses for oil, coal and gas exploration has triggered widespread complaint within the mining sector of the Australian tropical state.

China's copper consumption levels are set to fall for the first time since 2008 on the country's easing growth and the resulting tepid demand for commodities.

Rio Tinto (ASX:RIO) has announced further retrenchments and cost cutting measures due to concerns that the slowdown in China's economic growth will be more pronounced than expected.

Venezuela's President Hugo Chavez’s easy re-election has given him another six years as the head of the oil-rich South American country. It has also given mining and oil companies another reason to look for greener pastures.