Zambia to slash royalties, reinstate mining tax

Apart from Russian reserves no longer distorting the market, South Africa's dwindling supply is bound to boost prices further.

Declines in Chinese rare earth export prices coming off 2011's record highs have been stark. But this year some light REEs have halved again and some heavies are now almost $2,500/kg cheaper.

US copper giant Freeport McMoRan has been ordered to settle claims worth $6.8 million for polluting areas around the Morenci Mine in Arizona.

Brazil-focused Belo Sun Mining (TSX:BSX) was up 6% today after the Toronto-based company released an updated resource estimate on its Volta Grande gold project.

Potash Corporation of Saskatchewan dropped 3.4% when markets opened on Thursday, after revising its earnings guidance for the year and announcing a 26% drop in earnings.

Vale, the second largest mining company, fell to the lowest in over six weeks today, after reporting its third consecutive drop in quarterly profit driven by declining iron-ore prices and output.

French software and consulting services group Dassault Systèmes (EPA:DSY) unveiled today its plans to take over Canadian mining software provider Gemcom, in a cash deal worth about $360 million.

Barrick Gold (NYSE:ABX)(TSX:ABX) announced today the sale of its entire 20% stake in Highland Gold Mining Limited (LON:HGM), the AIM-quoted Russian gold producer, at a price of 120 pence per share to undisclosed institutional investors.

Liberian ex-president, Charles Taylor, was convicted today of war crimes for arming Sierra Leone's rebels in return for blood diamonds during the 1991-2002 civil war by a United Nations-backed court.