Rio Tinto pays biggest divvy in history as profit hits three-year high

The head of the Atomic Energy Commission said a four-year study has indicated that the Tumalapalli mine near the Indian state capital Hyderbad, which is scheduled to begin operating later this year, could produce up to 150,000 tons of uranium. The Daily Telegraph reports: "It's confirmed that the mine has 49,000 tons and there are indications that the total quantity could be three times that amount," Mr Banerjee said on a visit to a nuclear plant in the western state of Rajasthan on Monday. If that is the case, it will become the largest uranium mine in the world, he added.

Need proof that stakeholder relations can be fraught? See this recently uploaded YouTube video of Siveru Soma, an Indian MP, who was chased away and beaten up by a mob of women who were protesting a Chinese clay mining project in Visakhapatnam district.

The Hindustan Times reports India's new mining bill will empower state governments to hand out leases, take up prospecting and exploration activities before mines and call for bids for commercial utilisation of mineral deposits such as coal and iron ore. The Group of Ministers, which vetted the draft Mines and Minerals (Development and Regulation) Bill 2011 a fortnight ago, has given its nod for authorising and incentivising state governments take up "prospecting and exploration, so that adequately prospected ore bodies can be put on bid."

A diamond trader of Surat died, while three others sustained serious injuries in the bomb blast that took place at Zaveri Bazaar in Mumbai, on Wednesday evening. Part of a group of traders that went to Mumbai for business, they were caught up in the bomb. Image from YouTube.

"Many of the Opera House diamond merchants' clients are from Israel...they are no strangers to terror and blasts," said Vasant Mehta, a leading merchant who was at home recovering from fever when the blast tore through Mumbai's congested diamond district.

India's Department of Fertilisers raised concerns with the country's Foreign Affairs minister on Thursday over 2011 prices set by Canpotex, the company that markets and distributes Saskatchewan's potash globally. India's farming co-ops have halted imports due to the impasse and while waiting for a government decision on import subsidies. At over 6 million tonnes/year India is the biggest importer but says it pays much higher prices than a country like China can negotiate.

Thousands of workers at one of the world’s biggest gold and copper mines started returning to work Wednesday, ending a nearly two-week strike that brought operations to a standstill. Union chief Sudiro, who goes by only one name, said the decision was made after Freeport-McMoRan’s management agreed to reinstate six fired labor leaders and reopen negotiations about wages and benefits on July 20.

Pan Asia Corporation Limited is pleased to announce that it has now executed a formal agreement with leading underground mining group KOPEX to undertake a Final Feasibility Study on the TCM Coal Project in South Kalimantan, Indonesia.

Pimps man the park across from the historic Ulan Bator Hotel, popular with foreigners. They are keeping an eye on their employees -- about 20 women working in Mongolia's quickly expanding sex trade. Image by Tomascastelazo