Gold output hike boosts Mexico’s Durango state appeal

In the race to make electric cars a viable alternative to internal combustion engines, Nissan announced that it had developed technology to charge a car in 10-minutes. The time it takes to charge a car is seen as a major hurdle to widespread acceptance of electric cars. With the current technology, it can take several hours to recharge an electric car. Kansai University in Japan is credited with inventing the technology.

Since gold has slid nearly 20% since hitting a high of $1,900 in September, maybe the precious metal can get a lift from some "magical necklaces" worn by baseball players. Necklaces that contain gold and titanium are starting to catch on with professional athletes who believe wearing them can help improve their performance. Phiten markets the necklaces, as well as wrist bands, athlete's tape and other products. The company started in Japan whose founder, Yoshihiro Hirata, was seeking ways to alleviate chronic pain. The company says that metals like gold and titanium are broken down into microscopic particles dispersed in water and then added to its materials.

National Geographic News reports that Bellingham has in the past been lauded for becoming one of the few cities in the US to rely solely on solar and hydro-generated electricity, its innovative building efficiency program, and the "buy local" ethos of its bustling farmers' markets. But now the US coal industry has its eye on it.

It is vital for the South African government to step up and take a bigger stake in the mining industry, a top economic advisor told those attending a Mining for Change conference in Johannesburg on Friday. The comments come one week ahead of so-called Economic Freedom Youth Mass Action marches on the Chamber of Mines and stock exchange organized by Julius Malema (pictured), populist leader of the influential youth wing of the ruling African National Congress with the support of the 260,000 member Metalworkers Union. Malema recently told crowds that the nationalization debate within the ANC is a question of how not if, and an August industry-led investigation said the ruling party is closest to seizing mines since the end of white rule in 1994.

One of the Seven Great Wonders of the World is being threatened by mining. Reuters reports that legal and illegal mines operating below the Great Wall of China are tearing chunks of the wall away and allowing the historic landmark to crumble: About 200 km (124 miles) southwest of Beijing, in rural Laiyuan county in Hebei province, dozens of small mines are threatening the stability of the centuries-old wall as prospectors dig for copper, iron, molybdenum and nickel, state news agency Xinhua reported. Some mines have excavated within 100 meters of the wall.

Reuters reports a proposed European Union law to rank Canadian oil sands as dirtier than conventional fuel can probably be successfully defended if Ottawa challenges the move at the World Trade Organization according to legal advisers to the EU's executive. The statement comes a day after environmentalists hurled accusations and interrupted a speech by Canada's resources minister, who was on tour to persuade Britain not to join the EU oil sands initiative. The government of Alberta has also written to EU experts voicing "grave concerns" that the bloc's plans are unfair and a potential threat to trade ties ahead of a Tuesday meeting to debate a green ranking of fuels. Royal Dutch Shell and France's Total are the top European investors in the oil sands.

In early morning trade in New York, copper for delivery in December jumped 5.5% from yesterday's 15-month low to trade at $3.23 a pound after France and Germany made positive noises about tackling Europe's debt problem promising a definitive agreement by heads of state "by Wednesday at the latest." Copper is also being lifted by supply worries – Reuters reported on Friday China's copper smelters are slowing their rate of refined copper production as supplies of raw material concentrate and scrap fall. Two strikes at mines owned by US-based producer Freeport McMorran has cut production while shipments from the world's No. 1 copper mine, BHP's Escondida in Chile, could be delayed to next year after recent work stoppages.

Two days after the BC government compensated Boss Mining $30 million for expropriating its mining claims near Kelowna as part of a province-wide uranium mining ban in 2008, another company is pursuing a cash settlement. BIV reports that International Montoro Resources (CVE:IMT) is proceeding with its claim against the BC government for expropriating its Cup Lake-Donen uranium deposit in April 2008. The company is seeking $2 million for its properties after sinking $2 million into the ground says BIV.

China's net coal imports this year are expected to reach around 150 million tonnes less than last year's 164.83 million tonnes, state news agency Xinhua said on Friday, citing the country's coal association. The annual output is estimated to exceed 3.5 billion tonnes this year, compared with about 3.3 billion tonnes last year. Domestic demand will keep rising at a moderate pace amid steady economic growth, but uncertainty in the macro economy will decelerate demand growth, predicted Wang Zhanjun, an official with China National Coal Association. Meanwhile the state electricity authority said power cuts were likely this winter due to tight coal supplies and a fall in hydroelectric output. China relies on coal for the vast majority of its power-generating capacity.