VENTURE CAPITAL POST

The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.

Japanese aluminum buyers will mostly pay record high premiums of $420 per tonne over London Metal Exchange (LME) prices for October-December shipments, up 3-5 percent from the prior quarter, five sources directly involved in the talks said.

Two Japanese aluminum buyers have agreed to pay a producer a record premium of $420 per tonne for metal to be shipped in the October-December quarter, two sources directly involved in the quarterly pricing talks said on Friday.

Australia-based mining firm Rio Tinto Ltd purchased C$1.29 billion (A$1.32 billion) worth of shares in Canada-based mining company Turquoise Hill Resources out of contractual obligations but maintained its present stake.

Rio Tinto decided not to sell its diamonds arm with the company's CEO stating that the firm is well positioned to capitalize its unit on the positive market outlook.

Rio Tinto Ltd. calls for final bidders for their majority stake in Northparkers copper mine in Australia.