Rare earth producer is down more than 13% after SEC launches formal investigation into the accuracy of the company's public disclosures.

Accusations of Chinese miners being dubiously brought into the Canadian province of British Columbia to work in coal mines has prompted the federal government not only to investigate the issue, but to review its entire temporary foreign worker program.

Peruvian precious metals miner Hochschild (LON:HOC) is acquiring Canadian Andina Minerals (TSX-V:ASM), after the junior gold miner agreed late Thursday to a friendly takeover.

While Calgary-based TransCanada (TSX, NYSE:TRP) remains optimistic about its Keystone XL pipeline’s prospects, given Obama administration’s focus on moving the U.S. away from its dependence on foreign oil, uncertainties around the project remain.

Shares of nickel producer Talvivaara (LON:TALV) dropped down over 10% on Friday over reports the firm had failed to solve a waste water leak at a nickel and zinc mine in eastern Finland, where nuclear safety officials confirmed to have radioactive uranium levels 50 times higher or more than normal volumes.

Despite market rumours indicating otherwise, South Africa’s platinum producer Lonmin (LON:LMI) rejected Friday a reverse takeover bid by Xstrata (LON:XTA), its unhappy largest shareholder, as it announced a loss before tax of $698 million in the financial year ending in September.

While the junior mining sector has not seen the benefits of higher gold prices, there is reason for optimism, says Vikas Ranjan, managing director and principal of Ubika Research.

Inside sources claim platinum miner Lonmin (LON:LMI) will price an upcoming share offer at a 45% discount to the theoretical ex-rights price (TERP) on Friday, in the hope of raising a total of $800 million.

A new report by Johannesburg-based South Africa Resource Watch (SARW) claims that China is exploiting cheap labor in the sub-Saharan nation and subjecting employees in the mining industry to harsh working conditions.