First Nickel has updated and optimized its mine plan, result in a new $86.9 million net present value.

The risk of a Greek exit from the Eurozone "has moved towards next year," and "markets will be concerned about how narrow the margin of victory" was for the pro-bailout party say analysts.

"Natural resources companies with a pipeline of, say, five projects in five different countries are now likely to build just two or three of those. Thus, executives have the power to cherry pick which combination of country and project offers the best returns."

Apart from developments in Japan and the expiry of the Russia-US nuclear weapons agreement Beijing restarting its construction programme after a review will support oxide prices.

Rates for Capesizes have plunged 98% to just under $4,000 a day from the eye-watering rate of $234,000 set in June 2008 while the Baltic Dry Index which measures overall shipping costs has declined 48% this year alone.

The since departed head of the institute which has staff of 78 was paid in excess of $500,000 per year and the organization racked up more than $54 million in "operational expenses" in the first two years including "conferencing in empire-style Parisian ballrooms" and being entertained by celebrity chefs in Tokyo.

Gold Fields Ltd. may have to settle for a shorter than planned mine life for a gold project in the Philippines due to permit restrictions, a government official said.

A change in Indonesia’s mineral export rules has pushed up the cost of coal for Indian buyers, who source 70 per cent of their coal imports from the southeast Asian nation, making about 9,000 MW of imported coal-based projects in the country economically unviable.

Spanish coal miners armed with homemade rockets and slingshots have clashed with police over the country's austerity measures.