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Restrictions aimed at clamping down on illegal mining have slashed output and shipments from India, previously the world’s third-largest exporter with over $7 billion a year of iron ore supplied mostly to China’s steelmakers.

The world’s top miners, Vale, Rio Tinto  and BHP Billiton  have stepped into the vacuum left by India to boost sales to China, Japan and South Korea.

Read more at:

http://in.reuters.com/article/2013/11/12/india-ironore-goa-supreme-court-idINDEE9AA05H20131112

Net income for the third quarter more than doubled to $3.50 billion from $1.64 billion a year earlier. The result was 6 percent higher than the $3.3 billion average estimate of seven analysts surveyed by Reuters.

Read more at: http://www.reuters.com/article/2013/11/07/vale-earnings-call-idUSL2N0IS0U420131107

TORONTO — Barrick Gold Corp indicated on Friday that its founder and Chairman Peter Munk is likely to step down from his post by the time of the company’s annual meeting next year.

In an amended filing relating to its recent US$3-billion equity offering, the company said it is working to address corporate governance concerns raised by its institutional shareholders.

Read more at: http://business.financialpost.com/2013/11/08/barrick-gold-indicates-peter-munk-to-step-down-as-chairman-by-next-annual-meeting/

Teck Resources Ltd. may need to consider reducing its dividend if its capital needs and current commodity prices persist.

That’s the opinion of Alex Terentiew, an analyst at Raymond James, who noted that Teck has consistently raised its dividend since 2010.

He believes the miner is at an inflection point, with copper, oil and shareholders all “tugging for cash.”

Teck currently pays out 90¢ per share, or $520-million annually, to shareholders.

Read more at: http://business.financialpost.com/2013/11/08/why-teck-resources-may-decide-to-cut-its-dividend/

Melbourne (Platts)–8Nov2013/315 am EST/815 GMT

Mongolia’s new legislation that removes distinction between domestic and foreign companies when it comes to investing in the country will help attract more investment, miners with projects in the region said Friday.

From November 1, foreign companies will not need to seek government or parliamentary approval before investing in Mongolia. There will be no restrictions on the amount of investment if the company is not 50% or more owned by a foreign government. If the company is state-owned with more than 50% share held by a foreign government, it cannot buy more than 33% of a project in Mongolia.

Read more at: http://www.platts.com/latest-news/metals/melbourne/mongolias-new-investment-rules-to-spur-mining-27611872

China’s first rare earth products exchange, the Baotou Rare Earth Products Exchange, the first national trading platform of its kind, has been put into a trial run. The exchange will handle spot trading for rare earth products, but will not yet engage in futures.

General manager of the Baotou Rare Earth Products Exchange, Gu Ming said the exchange would help the Chinese rare earth industry to have a bigger say on prices in the global market. He also said it would bring the different production regions closer, raise the transparency of trading prices, adjust long-term supply and demand and stabilize the market.

Read more at:  http://english.cntv.cn/program/newshour/20131108/103194.shtml

Nov 7 (Reuters) – Brazil’s Vale confirmed on Thursday it is in talks with Glencore Xstrata over potential cooperation between the mining groups’ nickel operations in Canada’s Sudbury basin, in an effort to cut costs as prices languish.

Read more at: http://in.reuters.com/article/2013/11/07/vale-earnings-sudbury-idINL5N0IS4K320131107