Pressured by Asian and European steelmakers not wanting to be locked into expensive iron ore contracts, Vale SA has bent to a new system that would see lower quarterly prices.

Joy Global completed the transfer of its stock listing to the New York Stock Exchange with a bell-ringing ceremony on the exchange floor. Joy Global is a worldwide leader in surface and underground mining products and owns the P&H and Joy Mining equipment brands. The company says the "listing reflects Joy Global's size, record of growth and inherent strength."

Earlier today, Vancouver-based Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest on-site and online auctioneer of heavy equipment and trucks, reached and exceeded US$1 billion in online equipment sales for 2011 alone.

Quebec's reputation as a mining-friendly jurisdiction is threatened by revisions to the province's mining code, says a letter released last week by the Quebec Mining Association.

A Chilean civil court told Japanese Mitsubishi today that it has three working days to respond to the lawsuit filed by Codelco in the context of the conflict with Anglo American. Codelco's legal action seeks to annul the $5.39 billion deal between Anglo and Mitsubishi, after the Japanese company sold its 24.5 percent stake in Anglo American Plc’s Sur unit.

Giant terrestrial planets also know as “Carbon super-Earths” that contain up to 50 per cent diamond may possibly be in the Earth's galaxy, a new study suggests. But if they exist, those planets are unlikely to have any sort of life and incapable of supporting it.

Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources told Reuters on Tuesday. This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit. Vale last month approved a $6 billion expansion of Moatize to double output to 22 million tonnes per year.

Based on new research by investment bank Macquarie titled India’s Fatal Attraction, the FT asks if India’s weddings are destroying its economy given the huge importance of gold in the culture – especially between October and January, when festival season turns into wedding season and some 20 million Indians tie the knot.

Barron's Deal Journal reports John Paulson's gold fund is the one bright spot in his portfolio year to date, but even it is lagging other gold ETFs.