Chile’s Codelco likely to buy Anglo’s unwanted copper assets — report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2012) - Baja Mining (TSX:BAJ)(OTCQX:BAJFF) today announced that its 70 per cent-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V. (MMB) drew a further US$ 100 million on January 17, 2012, the third draw on its senior debt facilities to date.

The debate over the use of coal in Britain is heating up. Reuters reports a British company, Clean Coal UK, is planning to mine an estimated billion tonnes of coal off the Welsh coast using underground coal gasification.

A new report by DRBS, a rating agency, warns of increasing volatility in the potash sector with a possible softening of prices, mostly due to supply factors.

Gold Reach Resources (CVE:GRV) enjoyed a 15% lift in its stock price today on news that it has quadrupled its resource estimate at the company's Ootsa Lake property in British Columbia, about 120 kilometres south of Smithers.

Western Star Auction, based in British Columbia, will be auctioning the world's largest cut emerald on Jan. 28.

Mercator Minerals has secured a permit for operating its El Pinar porphyry copper project in Mexico.

Kinross Gold (K.TO) erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed that it will take ". . . a material non-cash accounting charge, primarily relating to the goodwill recorded for the Tasiast mine in connection with the 2010 Red Back acquisition."

Newmont Mining, the world's fourth-largest gold miner, says it plans to spend $3.0 to $3.3 billion on capital expenditures in 2012.

FLSmidth has been awarded contracts worth a total of approximately USD 85m (approximately DKK 500m) for equipment supplies to a copper producer in South America.