Geopolitical tensions particularly in Ukraine continue to dominate the gold market

Nautilus Minerals' (TSX:NUS)(AIM:NUS) Tongan subsidiary, Tonga Offshore Mining Ltd. ("TOML"), has become one of the first private sector organizations to be granted exploration licences in the highly prospective Clarion Clipperton Zone ("CCZ") of the Eastern Pacific. As a result of exploration conducted in the 1980s, the CCZ is known to host significant deposits of polymetallic nodules, which are golf ball sized nuggets, rich in copper, nickel, manganese and cobalt, lying on the seafloor in water depths starting at 4500 metres.

Namibia plans to raise its mining tax to 44 percent from 37.5 percent but said the hike will not apply to diamond mining companies, the ministry of finance said in a statement on Friday. The ministry said the country is facing volatility in its key revenue sources and is looking to strengthen revenue collection.

JSW Energy Ltd., the Indian power producer controlled by the billionaire Jindal family, delayed expansion of an electricity project because of high coal costs. The company will shelve a planned 3,200-megawatt expansion at a plant in Ratnagiri in the western state of Maharashtra as it waits for coal-pricing “clarity” from Indonesia and Australia, Chief Executive Officer Lalit Kumar Gupta said in an interview in Mumbai yesterday.

Chilean President Sebastian Pinera said Thursday the country's copper giant Codelco will remain state-owned in a bid to ease fears that the company will be privatized. Codelco, the world's largest copper-producing company, "belongs to all Chileans," and any attempt to privatize it was to be ruled out, Pinera said.

According to the World Steel Association (WSA), production of steel in China during the January-June period of the current year stood at 350.543 MT, almost half of world output during the same period and the single highesat by any country.

The Canadian government is set to spend Canadian $ 50 million per year ($ 53 million) on monitoring and controlling of air and water pollution from its oil sands projects in northern Alberta, in a bid to accelerate the US decision to allow a TransCanada crude oil pipeline transportation project to the Gulf Coast.

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") has started drilling on its Haig Inlet Iron Ore Project, located on the Belcher Islands, Nunavut, Canada.

Workers at BHP Billiton Ltd. (BHP)’s Escondida copper mine, the world’s biggest, began striking as coal miners at the company’s Australian operations prepared to escalate industrial action. The strike by all union members at the northern Chilean mine began at 8 p.m. New York time yesterday with the changing of a shift and will run through to 8 p.m. today, which may lead to about 3,000 metric tons of lost copper production, union leader Jose Vidal said by telephone. Image of BHP's Escondida mine is by BHP Billiton.

Kalgoorlie Mining Company ( ASX: KMC ) has been granted de-watering approval for the Bullant Gold Mine from the Department of Environment and Conservation.