Aurico announced on Friday open pit pre-production development has commenced at its Young-Davidson project after the company completed the first open pit blast on Thursday. Commissioning of the Young-Davidson mine project remains on schedule with the first gold pour anticipated for the end of March 2012. The 100%-owned Young-Davidson gold mine in northern Ontario is expected to produce 200,000 ounces per year by 2015. AuRico Gold has projects in Canada, Mexico and Australia and five operating properties including the Ocampo mine in Chihuahua State, the El Chanate mine in Sonora State, the El Cubo mine in Guanajuato State, as well as the Fosterville and Stawell gold mines in Victoria, Australia.

A major expansion to an existing coal mining operation near historic Bryce Canyon National Park is getting a frosty reception in tourism-friendly Utah, reports Steel Guru. Alton Coal Development LLC and partner Kane Mining want to expand their reserves at the Coal Hollow Mine — Utah's only coal strip-mine — just one year after the mine opened. The expansion to more than 3500 acres requires the approval of the US Bureau of Land Management. But opponents are already lining up against the proposal, with one online petition signed by over 21,000 people.

Wind turbine manufacturers are scrambling to find alternatives to a key element used in direct-drive permanent magnet generators (PMGs), thanks to skyrocketing prices and diminishing supplies of crucial rare earths. China currently provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors. However, the Chinese government has put new restrictions on rare-earth mining that have resulted in lower supply levels, according to a report from research firm Roskill Information Services (RIS).

The International Energy agency says in its World Energy Outlook 2011 released last week, widespread deployment of more efficient coal-fired power plants and carbon capture and storage (CCS) technology could boost the long-term prospects for coal, but there are still considerable hurdles. The agency says more efficient technology for new coal power plants would require relatively small additional investments, but improving efficiency levels at existing plants would come at a much higher cost. The IEA says If CCS is not widely deployed in the 2020s, an "extraordinary burden" would rest on other low-carbon technologies to deliver lower emissions in line with global climate objectives. Today only two small pilot projects in Germany and the US exist and a $4.8 billion project in the UK, which would be the world's largest appears to be going nowhere.

Hathor Exploration's (TSE:HAT) board recommends that shareholders accept Rio Tinto's (LON:RIO) all-cash offer of Can$654 million. Rio Tinto increased its all-cash offer to acquire all of the outstanding common shares of Hathor to $4.70 per share. The offer represents a premium to Cameco Corporation's previous offer of Can$4.50 per common share.

Gold futures for December delivery dropped 3.2%  or $57 to $1,717.30 an ounce on the Comex division of the New York Mercantile Exchange by early afternoon on Thursday. Gold's weakness flies in the face of new data from the World Gold Council showing investment demand at record highs and voracious jewelry demand from China, and investment bank Morgan Stanley picking gold as its top commodity for 2012 and predicting a price of $2,200 an ounce in the first half.

Australian legal firm Minter Ellison predicts that lifting the ban on Australian uranium exports could present significant opportunities for mining companies in Australia, as Indian and other foreign state-owned enterprises look for uranium exploration opportunities in that country. Mineweb quotes the firm's Energy and Resources partner Andrew Thompson: "This reversal comes as welcome news to Australian mining companies that are currently restricted by the policy. It will see an increase in uranium export markets, as well as opportunities for foreign direct investment and increased capital for Australian uranium projects. "Australian uranium explorers and producers would benefit from India's increasing use of nuclear energy, which is expected to grow from 3% to 40% of total domestic electricity consumption by 2050."

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) - FISSION ENERGY CORP. (TSX VENTURE:FIS)(OTCQX:FSSIF) ("Fission" or the "Company") is pleased to announce that, further to its press release dated October 27, 2011, the Company has now completed the previously announced private placement of 11,800,000 flow-through common shares (the "Flow-Through Common Shares") at a price of $0.85 per Flow-Through Common Share for total gross proceeds of $10,030,000 (the "Private Placement"). The Private Placement was conducted on a bought deal basis by a syndicate of underwriters led by Dundee Securities Ltd. and including National Bank Financial Inc., Raymond James Ltd., Primary Capital Inc. and Versant Partners Inc. (the "Underwriters").

According to the World Gold Council’s Gold Demand Trends report for the third quarter 2011 released today, demand reached 1,053.9 tonnes, an increase of 6% compared to the same period last year. This equates to $57.7bn, an all-time high in value terms. The increase was driven by investment demand which rose by 33% year-on-year to 468.1 tonnes, generating record quarterly demand of $25.6bn, and came despite a steep drop-off Indian jewellery demand which was down 26% thanks to disappointing Diwali sales.Chinese jewellery demand was 13% higher year-on-year at 131.0 tonnes and topped Indian sales for the first time as Chinese jewellers expand outside the bigger cities.