If China, Russia succeed in ditching the dollar…

Speaking to reporters at an industry conference in Qingdao China, the world's largest iron ore miners said on Wednesday they have seen no weakness in demand from China. Forecasts for China's imports by 2015 now top 1 billion tonnes – up more than 60% from 2010 – due to the relatively high cost and the low quality of its domestic supplies. Firm demand from China's construction sector and a drop off in India's exports have been behind the strength in spot iron ore prices which, at above $170 a tonne, have trebled from late 2008. The big three – BHP, Vale and Rio Tinto – control nearly 70% of the annual iron ore seaborne trade and dominate price talks.

Researchers have discovered a new way to separate gold, silver, copper and other valuable metals from ore using the flotation processing method, reports MEI Online.

Temex Resources (CVE:TME) Wednesday reported additional high grade assay results over significant core widths from surface exploration drilling on the Broulan Reef Mine area of the Whitney Property in Ontario, extending mineralization to the east. Shares in the company were up 14% at 24 cents on the TSX Venture Exchange Wednesday morning.

The Telegraph reported that Alessio Rastani, whose appearance on BBC went viral, is an independent trader of limited means. ". . . Mr Rastani works and lives with his partner Anita Eader in a £200,000 semi in Bexleyheath, south London. The house, complete with a mortgage from Royal Bank of Scotland, belongs to her not him," writes the Telegraph.

Australia’s Green Party wants gold companies to be subject to the country’s proposed Mineral Resource Rent Tax (MRRT), Xinhua reports. The tax, […]

Vale announced this week it is investing $15 billion to expand fertilizer production joining a Canadian merchant bank promoting a $4 billion potash project in the Amazon basin. There's just one problem: the land is owned by Brazil's state oil company Petrobras and they've also found oil there.

Cliffs Natural Resources was down about 7% in mid-day trading after the Cleveland-based company announced plans yesterday to sell and idle its biomass production facility in Michigan. Cliffs said it will take a $30 million charge in the third quarter as a result of the decision, while adding it will make efforts to reassign the 30-odd employees of renewaFUEL to other positions in the company.

TransCanada’s bid to build the Keystone XL pipeline is facing growing high-profile opposition, drawing fire from the Dalai Lama (pictured), Archbishop Desmond Tutu and seven other Nobel Peace Prize laureates on Wednesday who are following in the footsteps of a raft of Hollywood celebrities and green activists. The laureates, only one of whom is North American, insist the project will "endanger the entire planet" and urged US President Barack Obama not to approve construction of the $7 billion, 3,190km Keystone XL pipeline that could carry up to 700,000 barrels per day of Alberta’s oil sands to refineries on the US Gulf Coast and ensure a better price for Canadian crude, which trades at a discount of more than $20/barrel to international prices.

CDE have announced the appointment of a new country manager for Austria as the company seeks to expand its coverage throughout Europe. Stefan Hunger joins CDE bringing with him significant experience in the construction materials markets in Europe, North Africa and Latin America.