Mining industry value drops below one trillion dollars

The long-awaited debut of Barrick’s Pueblo Viejo, one of the largest gold deposits in the world, has finally arrived with the mine producing its first commercial gold.

The world’s fourth-biggest coal exporter, Drummond International, had to dramatically cut production in Colombia as a three-weeks strike at Feneco, the main coal railway, continues to affect its operations, said the company.

NSL Consolidated (ASX: NSL) announced Monday it has been formally granted the first of its four thermal coal exploration tenements, EPC 2198, in the Eromanga Basin in southwest Queensland, Australia.

Some of the oldest aboriginal artifacts have been discovered at Rio Tinto's Warkworth coal mine in Australia’s Hunter Valley.

Illinois Governor, Pat Quinn, exercised his veto power late on Friday to reject a bill that would have forced natural gas utilities to acquire synthetic gas at prices double the current market rate for the next 30 years.

Xstrata Coal confirmed Monday it has cut a number of jobs from its coal mining operations in Australia, due to sinking prices for both coking and certain kinds of thermal coal.

Okavango Diamond Company (ODC), the new diamond trading enterprise owned by the Botswana government, today (Monday) announced its interim board with Toby Frears as its first managing director.

Coal India board is likely to approve on Monday the model fuel supply agreement (FSA) to be signed with power firms, with significant changes in the penalty clause for failing to supply to them a minimum 80 per cent quantity of the total fuel contract.

Coal chief executive Peter Freyberg has called the bottom of the thermal coal market, telling investors last week ''we are seeing recovery in the markets''.