Moly Mines Limited (TSX:MOL)(ASX:MOL) is pleased to confirm the 3rd shipment of iron ore fines has today sailed from Port Hedland, destination […]

FLSmidth has today signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to supply material handling equipment to its coal mine in the Tanjung district of South Kalimantan, some 1000 km from the Indonesian capital, Jakarta. The material handling equipment will be part of Adaro's expansion of its mining operations and will decrease the average hauling distance of the overburden trucking operations as well as reduce the company's dependency on oil. The contract comprises an out-of-pit overburden crushing and conveying system, consisting of FLSmidth ABON sizers, RAHCO overland conveyors, and RAHCO mobile stacking conveyors. The system has a capacity of 12,000 tonnes per hour and an annual overburden volume of 40 million bank cubic metres. The contractual elements regarding construction, supervision and management, as well as field service, will be supplied by FLSmidth Indonesia.

Lucara Diamond Corp. ("Lucara" or the "Company") (TSX VENTURE:LUC) is very pleased to report outstanding results from its first tender of rough diamonds recovered from the Mothae mine in Lesotho. A total of 42 sales lots, totaling 9,381.35 carats were sold on tender in Antwerp for an average of US$871.70/ carat. Gross proceeds from the sale, which closed today, March 28, 2011, totaled $8,177,714 million. The three stones with the highest per carat value were a 13.87 carat diamond which sold for $43,000/ct, a 24.57 carat diamond which sold for $32,351/ct, and a 20.13 carat diamond which sold for $27,995/ct.

As Comex gold hit a fresh record high, Societe Generale commodities skeptic Dylan Grice - of the ‘long-term return on commodities is zero' fame - wrote a stirring paean to gold in his latest research report. Marked by his characteristic erudition, with references to gold's use as a hedge in the world of antiquity, Grice's report is worth reading and thinking about.

Brazilian mining company Vale has pushed out Chief Executive Roger Agnelli under heavy government pressure and is in discussions to replace him with an executive from within, local media reported on Sunday. President Dilma Rousseff has used the government's influence as a key Vale (VALE5.SA: Quote) shareholder to insist the company remove Agnelli following years of accusations it was not doing enough to bolster Brazil's economic development.

Congo authorities seized 435 kilos (957 pounds) of gold and $6.5 million in cash in smashing a plot to smuggle the haul abroad from the country's anarchic east, officials said on Saturday. The Democratic Republic of Congo's state prosecutor said five people including an American and two French citizens, as well as an impounded, U.S.-registered Gulfstream jet, had been released after a $3 million fine was paid.

Western Copper (WRN.TO) has begun engineering studies to determine whether it can modify plans that pushed regulators to reject its request for a water use license at its Carmacks copper project in Canada's Yukon Territory. A recent court ruling in the northwestern territory upheld the Yukon Water Board's decision to reject Western Copper's plans, forcing the exploration company to go back to the drawing board.

Global No. 1 copper producer Chile's Codelco said Friday its 2010 output dipped but should be steady this year, and expects strong Chinese demand, Japan's recovery after a natural disaster, as well as new uses to stoke demand. Codelco said profits surged 47 percent to $5.8 billion in 2010, with a rise in copper prices to record highs more than compensating for a 0.8 percent fall in production from 2009 to 1.688 million tonnes. [ID:nN08136598]

Silver Quest Resources (TSX-V:SQI) has entered into an agreement with The Yukon Cornelius Syndicate, a staking syndicate whose members are at arm's length to the company, to acquire a 100% interest in 80 quartz mineral claims (YCS Claims) located in the White Gold District, 135 km south of Dawson City, Yukon.