UK Coal's (LON:UKC) shares plunged by more than 28% in late afternoon trading after it revealed it was considering closing a coal mine in Warwickshire.

Japanese JX Nippon Oil & Energy acquired a 25% of diversified miner Xstrata Coal operations in Western Canada for US$435 million, creating a joint venture that will build the business and market coal in Japan.

A respected diamond expert says that an influx of "recycled" diamonds entering the market could depress prices of the precious stones and hurt diamond miners.

Improving U.S. economic sentiment bringing prospects of an interest rates rise ahead have strengthened the dollar and meantime weakened the gold price while platinum is again showing a premium over gold.

Woulfe Mining was off 8.5% to trade at 32 cents on the Canadian venture exchange today despite delivering a preliminary economic assessment for its Muguk gold project in Korea.

China's annual gold production continues to grow comfortably maintaining its position as the world's biggest gold miner assuming official statistics tell the full picture - which they may not!

Hope for the beleaguered iron ore sector has come in the form of higher prices and signs that steel demand is picking up in China, Reuters reports.

The Board of Western Areas (TSX:WSA)(ASX:WSA) is pleased to announce formal completion of the acquisition of 100% of Kagara Nickel Pty Ltd ("Kagara Nickel") for A$68 million.

While the sordid details emerging from the proceedings are humiliating enough there may be some serious financial implications for Gina Rinehart – mining's 4th richest person with a fortune pegged at around $18 billion – as well. On top of the tax loopholes in family trusts exposed by the Rinehart saga, it has also emerged that Hancock Prospecting has not submitted annual financial statements for the past two years.