While the precious metals sector has consolidated and struggled to find a bottom, an important development has taken place. First, let's harken back to 2007-2008.

“There is a new level of prices for iron ore globally,” Tito Martins, Vale CFO tells analysts in a conference call Friday.

Corporate Social Responsibility initiatives by mining companies operating in emerging markets in South America, Africa and Asia have become a crucial part of doing business as “above-ground risks are quickly gaining equal footing to traditional geological and engineering considerations for mining projects.”

Felix Salmon, blogger for Reuters and gold skeptic, decided to find out if gold really is currency and went shopping with one gram of bullion in New York City.

The Australian reports on a potential clash of visions in the Tasmanian rainforest, where 10 new mines are proposed and 58 exploration licences active.

The price oil sands producers receive for their crude improved to $30.75 a barrel below the international benchmark on Friday, a 42% gain from multi-year lows hit six weeks ago on the back of a sharply narrower gap between Canadian and US crude.

Statistics Canada revealed today that the provinces of Alberta and Saskatchewan led the country in economic growth in 2011, buoyed by the extraction and exploration of their natural resources.

UK Coal (LON:UKC) turned a £124.6 million loss in 2010 into a pre-tax profit of £58 million last year as production and revenue jumped.

"What is new is the growing awareness of its implications for our nation, particularly in a highly competitive world economy in which the demand for minerals continues to grow, especially in fast growing economies led by China and India."