This video by mining equipment manufacturer Job Global, more educational than promotional, gives an excellent overview of longwall, versus room and pillar underground coal mining.

Copper hit its highest level in 2012 this week, boosted by strong manufacturing data from China. Steady job growth in the US too is pushing up demand, but downside risks especially in Europe remain.

Orko Silver crashed 34% Thursday on news that Pan American Silver is walking away from Orko's La Preciosa project in Mexico.

Reuters reports that Romania has backed out of a deal to sell its largest state-owned copper mine, Cupru Min Abrud.

Net losses came in at a shade under $10.5 million for the year which as mainly due to what the company termed "administrative costs" that totaled $15.2 million (it was only $800,000 in 2010) in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before.

The source of the surge in mining investment has been quite diverse, reflecting the widespread advance in prices. For 2012, gold leads the way with $3.6 billion of capital spending. But not far behind are copper-nickel-zinc mines at $3 billion, potash at $2.9 billion and iron ore at $2.7 billion as the Labrador Trough is developed.

Indian imports may have tanked over 80% in March and could drop 40% in the second quarter after gold traders and jewelers went on a three week strike over taxes.

June gold contracts ended the holiday shortened week at $1,632 an ounce, but the end of Indian strike and disappointing news out on Friday – a day the markets were closed and could not react – about job growth in the US should provide stimulus for renewed interest in the yellow metal.

The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.