Former Chilean president slams Codelco’s governance, calls for greater autonomy

The Hindustan Times reports that Goa's mining minister, Digambar Kamat, is being accused by the BJP party and members of his own party for participating in illegal mining. The website says the Congress is considering various options to avoid a similar situation to what happened in neighbouring Karnataka state, where the ruling BJP party was forced to dump its chief minister after a damning report accused him and other politicians of corruption in the illegal export of iron ore.

While all eyes may be on the sovereign debt crisis in Europe or the ongoing jobs and budget battle in the U.S., Ian Bremmer says that the biggest economic concern is China, the world's leading importer of both copper and iron ore. Ian Bremmer, president of Eurasia Group, a global political risk research and consulting firm, hears lots of criticism about the hard decisions are being put off in both Europe and the U.S., and the literal can is being kicked down the road. "The largest can that is getting kicked furthest down the road right now is clearly in Beijing," says Bremmer who spoke to Bloomberg last week.

China's position as the world's economic engine is being reinforced as expectations for growth in developed markets wane, but so is the risk a decline in its appetite for metals and minerals may mean the Asian giant won't offset any Western slowdown.

BHP Billiton chief executive Marius Kloppers’s annual pay grew by 8.5 per cent in the last financial year, to $US11.6 million ($11.37 million). The pay rise (in US dollars) came in a financial year in which the company posted a record Australian corporate profit, growing 86 per cent from the previous year to $US23.6 billion.

MPX Energia SA, the energy company controlled by Brazilian billionaire Eike Batista, said it’s targeting China as the “main market” for the coal it will produce in Colombia.

An $85 billion expansion of the iron ore industry in Australia will not depress the price of the crucial steelmaking ingredient because the major producers will simply curtail their outputs. Martin Place Securities head of research Greg Burns told AAP the current wave of Australia-wide expansions that could effectively double current capacity of 465Mt to one billion tonnes by December 2016 will not have an upward effect on prices because the major producers will simply pull back on production to tighten up supply. Nor will some of the planned projects get off the ground, he predicts. Sky News reports:

Huffington Post reports that iconic Canadian comedian, Dave Thomas, is opposed to the Keystone pipeline. Dave Thomas played Doug McKenzie on the hit comedy program SCTV. (Doug is pictured on the right.) The Keystone pipeline is a proposed $7 billion project that would connect Alberta with US Gulf Coast refineries.

After declaring a 730,000 tonne increase of contained copper in mineral resources at Kennecott Utah Copper, Rio Tinto (NYSE:RIO) expects to head underground. Rio Tinto says that the mineral resource, known as the North Rim Skarn, is a high-grade copper-gold skarn deposit located approximately 300 metres below the current Bingham Canyon pit, the world's deepest open pit mine. The company has committed US$165 million to complete the next stage of exploration and development studies by 2014.

Avanti Mining Inc. CA:AVT -2.86% (pinksheets:AVNMF) ("Avanti" or the "Company") is pleased to announce that it has received assays from the next 14 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia.