Commodity prices hit Caterpillar profit — down 25%

China’s Minmetals Resources Ltd has, once again, extended its $1.3 billion takeover offer for Africa-focused copper miner Anvil Mining Ltd (TSX:AVM) to Feb. 16. This is the third time that Minmetals offer has been extended since the deal got the go ahead by the Australian Foreign Investment Review Board, last October.

London copper fell early Monday as concerns over slowing growth in the euro zone strengthened the U.S. dollar, making commodities priced in the unit more expensive in other currencies.

After witnessing a 150 per cent rise in prices since the nutrient-based subsidy (NBS) scheme was introduced in April 2010, potash fertilisers might turn dearer again in the coming days, even as the industry has said it may not raise prices for at least three months.

Canadian mineral explorer Continental Nickel Ltd (CNI) is set to start mining the mineral in southern Tanzania following positive exploration results.

The Obama Administration is expected to announce Monday a moratorium on uranium mining on a million acres near the Grand Canyon, The New York Times is reporting.

Later this month Coal India Ltd (CIL), the world's biggest coal producer, will sign an agreement with the Limpopo government in terms of which it will receive mining rights on various coal blocks in that province.

Thanks to nzsucks for consulting his/her inner skeptic when reading about the mining jobs boom in Australia.

Illegal iron ore mining in the Karnataka region of India led to a 2009 ban on iron ore exported from the region.

Joy Global Inc. (NYSE:JOY) ("Joy Global") a worldwide leader in high productivity mining solutions today announced the commencement of a tender offer for the remaining outstanding shares of International Mining Machinery Holdings Ltd. (HKSE:1683) ("IMM"), a leading designer and manufacturer of underground mining equipment in China.