Rio Tinto said it expects its Simandou iron ore project in Guinea to begin producing by mid-2015. The company has approved $211 million in continuing studies and $1.12 billion to purchase equipment and fund early earthworks. The Australian reports Rio saying the $9.8-billion project is gaining momentum with construction works well underway: Work has started on the marine offload facility near the preferred port site of Ile Kabak, 50km southeast of the capital Conakry, which enables the introduction of heavy equipment for construction.

According to a new survey by esure home insurance British distrust of banks and savings accounts has increased to such an extent that more than one in ten in the United Kingdom now own a stash of gold valued above any cash savings. According to the survey, more than 38% of Britons also say investing in gold is better than keeping cash savings. As gold vending machines pop up in shopping malls and physical gold retailers like London-based Bullionvault surpass some central banks in gold holdings, 14% of Britons bought an item of gold as an investment in the past year.

2Merkato reports the Ethiopian Ministry of Mines announced that five international companies have invested $6.5 billion in the Ethiopia potash mining industry which is centred in the Dalol area, part of the Danakil Depression (pictured). The five companies are G&B Central Africa Resource, Saynic Potash, Nova Potash, BHP Billiton and Toronto-listed Allana Potash. Allana has the backing of the World Bank and on Monday the company announced the latest in a string of high-grade discoveries at its 160 square km land position at Dalol.

Bill O'Reilly, the talk show host on Fox, believes Keystone is going to be approved, and it will be good the U.S. O'Reilly made the comments during an interview with talk radio host Charles Adler, which will run later this week. O'Reilly is a leading news commentator on the U.S. cable network Fox News. He is watched by four million people each day.

Microcap Canadian explorer Apogee Silver jumped 10% on Wednesday after announcing indicated silver resources at its Pulacayo Deposit in southwestern Bolivia had increased 133%. More than seven times the usual number of shares changed hands on Wednesday bringing the firm's market cap on the Toronto Venture exchange to just under $50 million. Apogee said the Pulacayo silver-lead-zinc deposit has 29.34 million ounces of indicated silver resource and 26.24 million ounces of inferred silver resource.

Australian Associated Press reports: the skills shortage in the Australian mining industry could suffocate new resource projects across the country, says Australian Mines and Metals Association director Minna Knight.

"Government policymakers can no longer take the economic gains arising from Australia's resources projects for granted," [Knight] told the Queensland government's mining and gas jobs expo on the Gold Coast. "Without immediate intervention, some of these projects will simply run out of workers."

The Department of Mineral Resources (DMR) in South Africa will be giving sixteen study bursaries to first year minerals and mining students at the University of the Witwatersrand in Johannesburg on October 19th, 2011, reported on the South African Government Information website.

In an effort to address technical skills shortages within the department’s branches, the DMR have partnered with the Mining Qualification Authority (MQA) who have pledged 60 fully funded 4-year study bursaries to build capacity. The ceremony at Wits will mark the first of several which will take place at universities across the country.

Rio Tinto (LON:RIO ) is expanding its presence in Canada with an all-cash offer to acquire Hathor Exploration (TSE:HAT), which owns the Roughrider uranium deposit in Saskatchewan. The global mining giant announced today a $4.15 per share, all-cash bid for Hathor valued at $578 million. The bid is 11% higher than Cameco's $3.75 per share hostile bid for Hathor announced last month. It is the first bid for a Canadian company that Rio has made since acquiring Alcan in 2007. "The superior Rio Tinto offer provided fair value to Hathor shareholders over Cameco's current hostile, unsolicited takeover over," said Hathor chief executive officer Dr. Michael H. Gunning.

Agnico-Eagle Mines (TSE:AEM) had suspended mining and gold production at its Goldex mine in Val d'Or, Quebec, due to unstable ground and water inflow. "A weak volcanic rock unit in the hanging wall of the Goldex deposit has failed. This rock failure is thought to extend between the top of the deposit and surface. As a result, this structure has allowed ground water to flow into the mine. This water flow has likely contributed to further weakening and movement of the rock mass," Agnico-Eagle said in a statement. As a result of the problem, Agnico said it will write off its investment in Goldex, resulting in a $260 million charge in the third quarter results. The news caused the Toronto-based company's shares to plummet around 19% near the close of trading on Wednesday.