U.S. Department of Energy’s Critical Materials Institute offers membership program

Cash-strapped ex-Soviet republic Belarus is negotiating the sale of its most prized asset, the potash producer Belaruskali, under the terms of a $3bn bail-out loan agreed this month with Russia, the Wall Street Journal reported on Tuesday. Responsible for one-third of the worlds potash fertiliser production, Belaruskali could be worth as much as $20bn. A frontrunner for a takeover is Russia's top producer Uralkali owned by billionaire Suleiman Kerimov. The combined group would easily push Canada's Potash Corp. from the top producer spot.

A Russian Finance Ministry official has reportedly said that the State repository has sufficient palladium stocks to continue to export in 2012, while it is also looking to upgrade some of its existing material (Gokhran has sufficient palladium to continue exports in 2012 - report). In their authoritative reviews released last month, both Johnson Matthey and GFMS addressed this issue and the two houses are of similar views with respect to the outlook on this issue.

Orvana Minerals announced the commissioning of its El Valle-Boinás/Carlés ("EVBC") gold-copper mine in northern Spain by Kinbauri España S.L.U. ("Kinbauri"), a wholly owned subsidiary of Orvana. EVBC initiated the start-up and commissioning of the mill May 31, 2011, with the first shipment expected in June. EVBC will initially produce at 70% capacity, increasing to its full annual target production levels of over 100,000 ounces gold, 3,900 tonnes copper and over 150,000 ounces of silver once the shaft is completed in early 2012.

Bloomberg reports gold may decline for a second day in New York as speculation that Greece’s debt crisis is closer to being resolved curbs demand for precious metals. The market news is quoted as saying, Palladium for September delivery was little changed at $781.50 an ounce. Platinum for July delivery was 0.2 percent lower at $1,830.80 an ounce.

Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022. The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.

Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.

Black Iron reported initial assay results from its ongoing confirmation ("twin hole") and metallurgical diamond drill program at the Company's Shymanivske Iron Ore Project in Ukraine. The Company is encouraged by the results of the initial two holes highlighted by 20342-T that intersected 164 meters grading 32.1% iron, including 83 meters grading 33.8% iron. Matt Simpson, President and Chief Executive Officer of Black Iron, commented, "As anticipated, the assay results from the first two twin holes align well with the historical drilling logs for the Project."

Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that it has determined to exercise its right to purchase from Trafigura Beheer B.V. its 45.96% net profit interest in Compania Minera Condestable S.A. ("Condestable"), which is the subsidiary through which Iberian holds its approximately 98.73% interest in the Condestable Mine. In accordance with the terms of the CMC Purchase Agreement, Iberian retained the option to purchase the NPI from Trafigura at any time until June 30, 2011 in consideration of the payment of US$60,000,000 (the "NPI Buy-out").

Azumah Resources Ltd (ASX: AZM) said today it has secured an 11% stake in Castle Minerals Ltd (ASX: CDT) through a holding of 11.081 million shares. Azumah's managing director Stephen Stone said the company viewed the holding as a strategic investment that would increase Azumah's options should any of the growing market-based speculation about consolidation in the West African gold sector unfold.