Chile’s Codelco to cut top positions in response to weak copper prices

Swiss commodities trader Glencore International PLC (LON:GLEN) painted a rosy outlook for the worldwide demand for raw materials this year, as China and the U.S. help offset the impact of the slump in Europe.

While 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion in the global mining sector, 2012 is not looking so good, at least not for Canada. The value of mining M&A tumbled 50% in the first quarter compared to the prior three months, with only one deal over $1 billion, said KPMG in a report.

Two Canadian mines are among the country's most expensive contaminated sites to remediate, CBC News reports.

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) announced today that the company's Board of Directors has appointed four new directors.

Kinross Gold (TSX:K) took a drubbing in the markets today, along with other major gold producers, as the sector endured an aggressive selloff in the midst of more turmoil in Europe.

Worries about Europe's sovereign-debt crisis sparked a wave of selling in the gold market, pushing prices briefly below the $1,600 mark and to their lowest settlement price in four months.

Franco-Nevada Corp. had a good quarter, more than doubling profits and hiking revenues by 44%.

"Martian Pink," the biggest pink diamond ever to appear at an auction, is expected to fetch more than $8 million dollars when it is sold at Christie's Magnificent Jewels Spring Sale on May 29 in Hong Kong, reports KeycTV.

The Antwerp World Diamond Centre (AWDC) and DODAQ have launched a new global online exchange for polished diamonds called DIAMDAX (Diamond Dealers Automated Exchange).