Barrick boosts ties with China, names Woo Lee as regional leader

Natural Resources Minister Joe Oliver says Canada's environmental review process takes too long and it should be streamlined so it doesn't last any longer than two years. Oliver made the statement in announcing federal approval for French oil giant Total's Joslyn North oilsands mine project 65 kilometres northwest of Fort McMurray, Alta.

Toyota Tsusho Corp., the trading company of the Asia’s largest automaker, will help accelerate production of rare-earth metals for Canadian mining company Matamec Explorations Inc. and buy all the output from its Kipawa mine.

Precious metals took a beating in the markets on Monday, with gold and silver falling in inverse relation to a 1% rise in the US dollar. Gold for February delivery crashed $52.60 to $1664.20 an ounce at Comex in New York. Silver sunk $1.20 to $31.05/oz.

Lundin Mining (TSE:LUN) said Monday that higher grades of ore and a ramp up of production is expected to boost zinc and copper production in 2013 and 2014.

Environmentalists and academics alike welcomed the latest report by the U.S. Environmental Protection Agency (EPA), which confirms a link between hydraulic fracturing for natural gas —or fracking— to groundwater contamination.

Jorge Humberto Merino, an engineer who worked for the Peruvian government agency that promotes foreign investment, swore in last night as the new mines and energy minister, amid a mining crisis that has had the country under state of emergency since Dec. 4.

Australian coal miner Whitehaven Coal (ASX:WHC) announced Monday that it will merge with Aston Resources (ASX:AZT), and it will also acquire Boardwalk Resources in a three-way deal valued at $3 billion.

Resource Capital Research detects some good news in the uranium sector, namely acquisition plays for Hathor Exploration and Extract Resources, but sector performance will remain poor for the first quarter of 2012.

Stanford University scientists have made high performance batteries using copper, not lithium, that cost less and perform better.