Chinese-owned mining company Ecuacorriente will sign a contract to invest $1.4 billion over five years for extracting copper in Ecuador's southern Amazon, reports local newspaper La Republica.

Russia's diamond manufacturing industry is slowly but surely emerging from the severe crisis it experienced since 2009, when polished diamond production fell to an unprecedented low of US$350 million.

A record of 212% increase in net earnings in 2011, as well as record annual gold production of 387,155 ounces, reported gold miner New Gold (TSX and NYSE AMEX:NGD).

Cameco Corp. (TSX: CCO; NYSE: CCJ), Canada’s largest uranium company, said it agreed to buy Areva Resources Canada’s 27.94% stake in the northern Saskatchewan-based Millennium project for $150 million. With this acquisition Cameco becomes the majority holder in the proposed uranium mine.

Zambia Daily Mail reports that workers at the Kansanshi copper mine have gone on strike.

After steady gains throughout the day Ivanhoe Mines – building one of the richest copper and gold mines in the world – ended Thursday up 5.47% after CEO and founder Robert Friedland said he's found buyers for the company's other assets.

Baja responds to misleading statements by dissident shareholder Mount Kellett Master Fund II A L.P., and highlights Mount Kellett's failure to address seven critical facts in its dissident circular. Baja cautions shareholders not to trust the Mount Kellett wolf in sheep's clothing.

Potashcorp, the world's number one producer of the soil nutrient, also expects balanced or tight supply for the next four years.

Canadian Shore Gold (TSX:SGF) shares fell dramatically Thursday after the Saskatoon-based company announced it had failed to secure a deal to fund their Star-Orion South diamond project near Prince Albert.