Most US companies ‘unsure’ of whether they use conflict minerals in their products

A string of positive developments have lit a fire under North American potash stocks with Potash Corp. of Saskatchewan leading the charge. The industry bellwether has made investors almost $5 billion richer since Tuesday after an Indian bid for Belarus's state-owned producer valued that company at close to $30 billion. The news came after the EU's largest player said its profits could jump 40% over the next six months and disappointing corn harvests in the US boosted demand for the soil nutrient. Potash Corp. dragged higher the whole sector which also saw the listing of a potash from waste firm on Monday.

Gold for December delivery rebounded Monday, finishing up $15.40 or almost 1% at $1,758 an ounce, after losing more than $40 over the past two trading days. Gold futures hit highs just above the $1,800 level last week and is up more than 24% for the year. Monday marked the 40th anniversary of the US dropping the gold standard which pegged the conversion rate for one ounce at $35. Most analysts do not expect demand for gold as a hedge against inflation to diminish and speculations that the US Fed will undertake a third round of monetary easing are mounting.

India’s iron ore exports could halve over the next five years as the country feeds the expansion of its steel industry and resource nationalism becomes a big driver of policy in Delhi. Lower shipments from India, which exports almost half the 200 million tonnes it produces, should help bolster prices that have more than tripled in three years before massive Australian projects come on stream around 2014. The global trade in iron ore which not long ago featured antiquated annual contracts and secretive pricing has been transformed and Singapore will this week launch the first global iron ore futures contract.

Zinc price gains in July were more than wiped out in early August as worries intensified about global economic prospects, and further price declines could trigger mine production cuts in China, and help reduce surplus supply. "If prices fall below $2,000 then we would expect a lot of Chinese mine production to stop," said Giles Lloyd of industry consultants CRU Group. In 2010, China mined 3.7 million tonnes of zinc, accounting for 30 percent of world mine output.

US Silver Corporation announced Monday record second quarter revenues of $30.8 million in the quarter, more than double the amount for the same period in 2010 and an increase of 61% from the first quarter of 2011 while net earnings were $6.5 million in the quarter, compared to $0.6 amount for the same period in 2010. U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho.

Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML)(FRANKFURT:EJZ) announces the completion of the first phase of diamond drilling at its Rodeo de los Molles ("Rodeo") Rare Earth Element ("REE") Project in San Luis Province, Argentina. The Phase I drilling consisted of 26 drill holes (975.5 metres) targeting outcropping, high-grade REE mineralization confirmed by channel saw sampling results (see Wealth News April 11, 2011 and July 7, 2011).

Platmin Limited announced production results from the Pilanesberg Platinum Mine and financial results for the quarter and half-year endedJune 30, 2011. Sales revenue for the quarter-ended June 30, 2011 was US$34.5 million, an increase of approximately 130% compared with US$15.0 million recorded in the prior corresponding period; and for the half-year ended June 30, 2011 - US$60.5 million, an increase of approximately 80% compared with the prior corresponding period. Sales of 4E PGM ounces for the June 2011 month was 9,258oz or about 110 000oz annualized;

Yukon-Nevada Gold announced that it has closed the Forward Gold Purchase Agreement with Deutsche Bank AG. Deutsche Bank has funded a US$120 million prepaid gold forward facility to Queenstake Resources USA, Inc, a wholly-owned subsidiary of the Company. The facility is a forward contract structured to deliver 173,880 ounces of gold over a 48 month term.

A blast in a coal mine in China killed 10 people, officials said Monday. The blast, due to accumulation of gas inside the mine, took place Sunday night in southwest Guizhou province, Xinhua reported.