MINING.COM Staff Writer

Vancouver-based Quadra FNX announced a three-year collective agreement with United Steelworkers that includes a 3% wage increase, BIV reports: “This agreement breaks a pattern in the mining industry of attempts by employers to impose concessions on their workers,” said Wess Dowsett, Steelworkers area coordinator for Northeastern Ontario.

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Australian businesswoman Gina Rinehart who inherited a debt-ridden mining company 20 years ago, is predicted to become the world's richest person, according to media reports on Tuesday. Rinehart, 57, is already the richest Australian after her wealth more than doubled to $10.3bn this year. That still places her far behind Carlos Slim, Mexico's cellphone magnate worth some $73bn, but Rinehart's 100%-owned Hancock Prospecting has massive iron ore and coal projects that will start producing by 2014 and earn her annual profits of as much as $10bn.