Lundin Gold starts mining of first production stope at Fruta del Norte

Westminster Resources ("Westminster" or "the Company") has now compiled results for the recent 2,000 metre drilling program at the Company's Sonora, Mexico properties.

The strike at Peru's Cerro Verde mine is getting nasty, reports MarkeWatch, with workers aiming to "paralyze the mine." MarketWatch reported Wednesday there are no negotiations underway to end the walkout, which began Sept. 29th over demands for higher wages and safety issues.

Guyana Goldfields (TSE:GUY) got a nice bump today after the company announced an agreeement with the Guyana government for developing its Aurora gold project. The stock was up around 8.5% on nearly-double average volumes on the Toronto exchange.

As the price of copper drops to a 14-month low on speculation of sluggish demand for industrial metals, the chief executive of Codelco — the world's largest copper producer — said buyers in China should take advantage, Bloomberg reported.

An illegal work stoppage at La Arena Gold Oxide Mine has been resolved and mining operations have resumed, Rio Alto Mining (CVE:RIO) said on its website today.

Argentina may be salivating over an abundance of natural resource riches, but getting it out from under the ground could push local water supplies to the breaking point.

Rio Alto Mining (CVE:RIO) said that an illegal work stoppage at La Arena Gold Oxide Mine forced it to suspend mining operations. The company's stock opened down 6.82% to $2.46. The company, issuing a statement on Thursday, says that it is in discussions with government representatives, community groups and others to resolve the issue.

President Ollanta Humala signed Peru's new mining law on Wednesday, which will raise about $1 billion a year. The money is to be directed to the poorest parts of the country and help build schools and infrastructure. Mining companies will now pay taxes based on their operating profits, ranging from 1% to 12%, rather than old regime where they paid 1% to 3% based on sales. There will also be a windfall profits tax ranging from 2% to 8.4% of a company's net profits.

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.