Iron ore price surges

Canada’s Quadra FNX Mining Ltd. (QUX-T15.30----%), which has signed a deal to be bought by a Polish government-backed miner, said Monday its production was down slightly in the fourth quarter, as compared to the previous three months.

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 16, 2012) - Ucore Rare Metals Inc (TSX VENTURE:UCU)(OTCQX:UURAF) is pleased to announce results of reconnaissance sampling on the Company's extensive alluvial rare earths (REE) and tin multi-metal property holdings in the Ray Mountains area of central Alaska

TORONTO, Jan. 16, 2012 /CNW/ - Uranium One Inc. today announced record production of 10.7 million pounds and record sales of 9.9 million pounds for the full year 2011.

Gold rose back above $1,640 an ounce in Europe on Monday as it took advantage of a rising euro and a recovery in stock markets which took some downward pressure off prices.

The company said Monday it had been approached by the sale's advisor about participating in the $1.3 billion bid for French engineering company GTT but stated that talks were at a very early stage.

The metals lobby group is gearing up to meet with the European commission at the end of January to persuade it to grant the sector full exemption from the indirect carbon costs embedded in electricity prices.

According to an Ipsos Apoyo poll, President Ollanta Humala's Cabinet shuffle following fierce protests against Newmont Mining's Conga project lifted his approval rating as it rose to 54% in January.

The country hopes the new platform will help strengthen its pricing power and wrest control from Vale, BHP Billiton and Rio Tinto, which between them control three quarters of global seaborne ore supplies.

Brazilian iron ore producer Vale SA (VALE) will likely wait until the end of the Lunar New Year to sell a massive cargo of iron ore that was delivered into the Chinese port of Dalian via one of its “very large ore carriers” or VLOCs at the end of December, two traders said.