Iron Road Limited (ASX:IRD) is pleased to announce it has successfully raised A$21.6 million to further advance the Central Eyre Iron Project following the recently completed positive prefeasibility study. "The funds raised today will allow us to continue our aggressive resource drilling campaign and deliver additional large tonnages into the project. We are currently drilling the Murphy South western extension and PIRSA have this week approved drilling over the Murphy South eastern extension. This work will further enhance our position as we continue our partnership discussions.

Bechtel has been selected by the National Development and Innovation Committee (NDIC) of the Government of Mongolia to provide master planning services for the development of the Sainshand Industrial Complex. Read more

BioteQ Environmental Technologies, a leader in the treatment of industrial waste water, has commenced its seventh season of water treatment operations at Xstrata Nickel’s Raglan site, located in the Nunavik region of northern Quebec. BioteQ’s ChemSulphide® plant treats surface water, applying ISO 14001 standards for environmental compliance that meet very strict water quality requirements to produce clean water for release to the environment. Read more

Canadian Business reports merger and acquisition activity is expected to increase in Canada's oilpatch this year, as energy executives take a brighter view of their sector's prospects, according to a study released Wednesday. But the positive outlook is dampened somewhat by cost escalation for labour and equipment, the Ernst & Young report said. In 2010 Canadian energy M&A activity was dominated by oil sands. While the $4.65bn Sinopec-Syncrude deal was the largest the total the number of oil sands transactions tripled.

Brazilian mining giant Vale said on Tuesday it rerouted 391,000 tonnes of iron ore, its first cargo aboard a new class of giant bulk carriers, to Italy from its original destination of China. The cargo is being shipped aboard the Vale Brasil, the world's largest dry-bulk vessel, a ship designed to reduce the cost of shipping the main steel ingredient to China. Despite the rerouting Vale said the so-called Valemax carriers will be able to enter three Chinese ports.

Data out this week show the likes of Goldman Sachs and JP Morgan raking in record revenues of almost $1bn/month in commodity and other trading revenue. A recent study of mining mergers and acquisitions shows the proportion of financial firms – as opposed to other miners – taking over resource companies had increased fourfold. And perhaps the most significant indication that US banking practices honed in the property markets have arrived in minerals is news that star metals traders now command pay as high as $3 million/year.

The Financial Times reports Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks. Pledges by socialist prime minister George Papandreou that his government would “save the country” have been widely discounted by the public.

New Zealand Prime Minister John Key has told The Australian newspaper there will be changes in New Zealand mine safety regulations. Key made the comments in an interview when asked about Pike River, the West Coast mine where a series of explosions left 29 men dead last November. Over the weekend the same paper quoted a mining safety specialist who quit Pike River over concerns it was too dangerous as saying the mine lacked critical equipment required in Australian mines, which could have avoided the enormous methane explosion.

"Cost inflation has been experienced at all operations," continued Mr. Stothart. "The industry is experiencing higher costs for fuel, consumables and labour in all regions this year, as well as higher royalties commensurate with the higher gold prices. Even with these higher costs, and a conservative gold price assumption of $1,200 per ounce, we believe that the projected cash flow from our operations combined with our current cash position will fund our significant three-year $1.2 billion investment to expand production at our existing gold mines and further strengthen our balance sheet."