Brazilian iron ore producer Vale has scrapped plans to buy FTSE 100 mining house, Xstrata. The mooted £44 billion takeover is thought to have been derailed by financing problems.

The long-awaited offtake deal on Thor Mining's molybdenum mine has been secured with a Chinese consortium, pushing up shares over 30%.

Mining giant BHP Billiton has increased its hostile bid for Rio Tinto with a 3.4 for one share swap. But its falling share price today has already devalued the offer.

Rumoured bid target Xstrata said the resource estimate for the Collahuasi copper mine in Chile has been raised 28%.

The world's largest mining company has reported record half-year production levels. BHP Billiton remains upbeat about commodity markets.

Rumours over the promotion of gold producer Peter Hambro Mining to the main market have been revived.

FTSE 100 mining group Xstrata has confirmed talks with industry rivals over potential consolidation, but said no proposals had been made.

Coal miner UK Coal has won a new contract with power generator EDF enabling it to invest £55 million at its Thoresby Colliery.

Analysts have slashed their recommendation on BHP Billiton following its rejected bid for Rio Tinto. Independent broker Landsbanki said the offer has 'taken all of the near-term upside out of the company.'

South African coal producer Petmin is to branch out into high quality pig iron. It has secured a 25% stake in a potential mine and processing operation near Johannesburg that will start production in 2010.