Frik Els , Editor

A statement put out by Ivanhoe Mines and partner Rio Tinto on Monday saying it has formally informed the Mongolian government it won't renegotiate the terms of the Oyu Tolgoi investment did not have the desired effect and the share was beaten down 6.6% on Monday. The counter’s losses began after rumours – now confirmed – surfaced that the Mongolian government is rethinking a 2009 deal that gave Ivanhoe Mines and Rio Tinto a 66% stake in Oyu Tolgoi and that it now wants half of the $6 billion gold and copper project.

The value of stock in Potash Corp. of Saskatchewan, the world’s largest miner of the soil nutrient, are down more than 13% or $6 billion since Tuesday after losing 2.8% in afternoon trade on Monday on the back of plummeting corn prices in the US. The price per bushel of the largest US crop has declined 25% since June and farmers are now hard-pressed to slash input costs which means cutting back on fertilizer. Globally there is a similar trend and in India, the world's largest importer of potash, sales were down more than 50% over the monsoon planting season.

December gold added $35 or 2.2% to trade at $1,657.10 an ounce in noon dealings in New York on Monday regaining a sliver of the ground lost during September, the worst month for the precious metal since the start of the 2008 recession. September was a particularly volatile period for gold. Early on the metal hit an intraday record of $1,923.10 only to shed 17% over the course of the month. Today's dealings are also in sharp contrast to a week ago: in Asian trade on Monday September 26 bullion plunged $130 within a few hours, a move which many gold bugs are now saying had nothing to do with fundamentals but was intended to send a message.

The price of US crude oil crashed through the $80/barrel level on Friday afternoon bringing its losses to more than 10% in September and suffering its worst quarter since the 2008 recession. At the same time the discount on Western Canada Select widened to $10.50/barrel meaning oil sands producers now sell some of the cheapest fuel on the planet. The international benchmark for oil was pegged at over $102 on Friday. Canada exports 2 million barrels of oil per day and a lack of pipelines means all of it goes to the US Midwest, the pricing point for US crude.

Despite a rancourous dispute with local landowners over compensation and infrastructure upgrades and an appeal against a Papua New Guinea High Court ruling approving the dumping, Australia's Highlands Pacific on Friday said it is confident it could power on its already built mine next year after the intervention of a provincial governor. The wrangling over the $1.5 billion Ramu nickel and cobalt mine that over its life will dump 100 million tonnes of waste 400m offshore comes as the new PNG's government moves to quell concerns about proposed changes to mining rights that would potentially force projects worth billions of dollars into renegotiation.

Shareholders who held onto their Silvercorp Metals stock during the rollercoaster ride that started on September 2 when the company had to disclose fraud allegations and a massive short position in its stock, had something to show for their loyalty on Friday. Silvercorp, China's biggest silver miner, is now worth more than it was before the scam was exposed. You had to have nerves of steel though – volumes sky-rocketed, intra-day swings reached 22% and at one point shell-shocked owners were down a net 30%. And what is most remarkable: Silvercorp's gains are into the teeth of a silver price that has dropped 27% and a sector slaughtered along with it.

One shouldn't compare pears and squares but there is no better indication that coloured diamonds are spearheading record auction prices than news that a yellow weighing slightly less than the 33-carat flawless D-colour Liz Taylor wore every day, is expected to fetch three time as much as the Hollywood legend's gem when it goes on sale next month.

The price of the most abundant rare-earths are set to extend their decline from records this year as Japanese manufacturers, including Toyota the world’s top REE consumer, switch to recycled materials or eliminate the need for REEs altogether. Prices of certain elements such as cerium used to polish TV screens and lenses are already down 40% after months of break-neck price hikes while lanthanum which finds its way into nickel-metal hydride batteries has shown similar declines. However, the price of some REEs such as samarium used in jet fighter electrical systems are showing no signs of decline despite increasing 25-fold in just three years.

Enterprise Products Partners and Enbridge on Thursday announced a proposed new 800 kilometre (500 mile) pipeline from Cushing, Oklahoma – the pricing point for US crude – to the Gulf of Mexico. The Wrangler Pipeline would have the capacity to carry up to 800,000 barrels of crude oil a day. Although the glut at Cushing has eased this year it is the main factor behind US crude trading near a record discount of $25/barrel to the international Brent benchmark. Canadian heavy oil from the oil sands – all of which goes to the US – sells for $10+ less than US crude, meaning oil sands developers have to deal with an effective oil price of $60-$70 a barrel. Unlike the controversial Keystone XL, Wrangler does not cross international boundaries and won't have to be approved by US president Barack Obama.

Vancouver-based gold and copper explorer BCGold Corp. dropped 10% or 1c on the Toronto venture board after announcing that it closed the second tranche of its private placement for a total just shy of $1.6 million. In a sign that raising money is much harder now than just three months ago, the number falls far short of the $2.4 million the tiny firm was hoping for when it announced the non-brokered private placement in July. The firm hasn't struggled to find investors in the past – sector giant Kinross holds 8% while institutions have secured more than a fifth of the company. The stock is down from an all-time high of 80c hit in January of 2007.