Lucapa Diamond soars on 35-year mining licence for Lulo

Facing criminal and civil penalties over the Upper Big Branch Mine disaster, Alpha Natural Resources (NYSE:ANR) will pay $200 million to settle a suit leveled by the U.S. Attorney in Charleston, West Virigina.

Gold is still the king of commodities when it comes its role as a diversifier and foundation asset in the portfolios of euro-based investors, says the new report "Gold as a strategic asset for European investors," commissioned by The World Gold Council (WGC).

Latest report from Bain & Company says that diamond industry will grow more than 6 percent a year over the next decade, which will hold up prices even through periods of volatility.

The London Metal Exchange said Tuesday it has completed a major upgrade to its electronic trading platform to cope with record volumes and high frequency trading. A takeover of the 134-year old exchange – one of the last bastions of open outcry trading – appear to be in the offing as its major shareholders jockey for position and competition from Asia intensifies. Over the last 7 years electronic trading has grown from 2% to over 70% of the LME's market volume.

U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on exploration and resource expansion of uranium and green commodities in South America, has signed a letter of intent with U3O8 Limited ("UTO"), an Australian uranium exploration company, to form a joint venture to explore U3O8 Corp's Sierra Cuadrada Project in Chubut Province, Argentina

Anglo American said on Tuesday its board had approved the $1.7 billion Grosvenor metallurgical coal project in Queensland, Australia, which is expected to produce five million tonnes per year over a projected life of 26 years. The London-based diversified miner said it plans to triple production of met coal in Australia over the next 8 years.

Investment gurus Jim Rogers and Marc Faber in recent interviews seem to agree on the dynamics in the gold market. Rogers says he's not selling his gold and Faber says there is no bubble. But that doesn't mean bullion is not still in a correction phase.

The Vale Beijing, the globe's largest bulk carrier, is disabled in a Brazilian port and shipping agents tell Reuters the vessel had ruptured its hull. If the $110 million vessel should sink it could also turn out the be the final nail in the coffin of Vale's disastrous strategy to tighten its grip on the world's annual 1 billion tonnes sea-borne iron-ore trade. China, the world's number one market for the steelmaking ingredient to where Vale ships about 45% of its output, turned away another carrier in the fleet earlier this year.

Initial underground mine production has successfully commenced at Xstrata Copper’s Ernest Henry Mining operation in north-west Queensland, marking the site’s transition from open pit mining, which is now complete, to underground mining and magnetite processing. This is a major milestone in the progression of Xstrata Copper’s AUD589 million project to extend its Ernest Henry operations to at least 2024.