After years of political wrangling, the Minerals Resource Rent Tax or MRRT takes affect as the country's largest polluters will now pay A$23 for every tonne of greenhouse gas they produce.
Jim Rogers poured cold water on Friday's stock rally after European leaders agreed to backstop more debt-stricken banks. The S&P 500 jumped 2.49% on Friday, and spot gold was up $30 to close at $1,599.10/oz.
The U.S. Court of Appeals in Chicago ordered that an anti-trust lawsuit be brought back to the courts, and a lower court ruling that settled the issue in favour of the potash companies be set aside.
Ivanhoe Mines was up 7.6% in afternoon trade on Friday after the company provided an update on its Oyu Tolgoi project in Mongolia and announced shareholders had approved a name change.
Base and precious metals continued to rally in New York trade after the EU moved "to break the vicious circle between banks and sovereigns" early on Friday.