Glencore mulls shutting down South African coal mines, lay offs

ABB’s UK marine services business has won a unique order to supply transformers and switchgear for one of the world’s first commercial deep sea mining projects.

GOLDCORP INC. (TSX: G, NYSE: GG) today announced 2011 gold production and provided production and cash cost guidance for 2012 and the five-year period ending 2016.

Hedge fund genius John Paulson had the worst year of his career in 2011. The FT wonders if he will start dumping gold onto the market in a dash for cash.

Some community members are concerned about plans to expand a diamond exploration project on South Baffin Island. Peregrine Diamonds Ltd. owns and operates the Chidliak project near Iqaluit. The company wants approval from regulators to bring in more workers, more equipment and set more trails to support the next phase of its exploration work.

Hard Assets Investor reports precious metals ETFs enjoyed solid $5.9 billion inflows last year that brought total assets in the sector to just under $98.5 billion; a figure that represents just under two-thirds of all exchange-traded products including energy and agriculture.

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns and motel and hotel owners are kicking out prostitutes using their rooms to ply their trade.

AP reports that the Obama administration is ignoring intense lobbying from the mining industry and political opponents on the right and will formally ban new uranium mining on 1 million acres around the Grand Canyon on Monday. Miners who registered thousands of claims during the final Bush years remain free to push ahead with new projects.

Teck Resources Ltd. (TSX:TCK.A) announced today that it will acquire its oilsands partner SilverBirch Energy Corp. (TSXV:SBE) for over C$435 million.

Morrison Park Advisors ("MPA") is pleased to announce that it is expanding its mining sector presence with the appointment of Stephen Altmann as Managing Director. Previously a CEO-level mining executive and investment banker, Steve will work with MPA's team of seasoned professionals in providing high quality strategic, corporate and financial advisory services to companies in the mining sector.