Glencore CEO says rivals pushing mining sector into confidence crisis

South Africa took a step closer on Thursday to create a standalone mining company that will take charge of the government's role in the country's rich resources and with ambitions of becoming involved in the continent's mining sector.

Gold fell abruptly this morning, pushed by a rising dollar after data showed the U.S. economy created more jobs than expected over the last three months, decreasing prospects the Federal Reserve will keep interest rates low for an extended period.

Canadian miner Mandalay Resources (TSX: MND, MND.WT) resumed operations at its Cerro Bayo project in Chile today, after protestors removed blockades, allowing supplies in and out of the mine.

Despite a healthy economic growth, Canada’s economy lost 2,800 jobs in February, with at least 18% of those positions belonging to the mining sector.

Molycorp and Neo Material Technologies Thursday announced the signing of a definitive agreement under which Molycorp will acquire Neo Materials for approximately CDN $1.3 billion. This will create one of the most technologically advanced, vertically integrated rare earth companies in the world.

Xstrata's relentless appetite for coal, particularly the metallurgical variety, was again evident on Thursday after it bought Talisman's Peace River deposit for $500 million.

China, the world’s largest supplier of rare earth, may almost double exports this year, meeting quotas set by the government as lower prices continue to stimulate demand.

Mongolia's plans, first mooted in 2010, to sell a stake in its Erdenes Tavan Tolgoi coal-mining company  to the public faces more delays over politics and regulatory problems while talks with companies to developed the western block of the largest coking coal deposit on the globe are also on ice.

Ivanhoe announced on Thursday its Australian project is producing copper and gold ahead of schedule. Last week the company said Ivanhoe Australia is on the chopping block as its mega-mine in Mongolia requires all its financial resources.