SouthGobi Resources (TSE:SGQ)(HKSE:1878) said Wednesday its president and chief executive, Alexander Molyneux, has been terminated, effective today, amid a number of executive changes at the Mongolian-focused coal producer.  

SouthGobi Resources (TSE:SGQ) said that Turquoise Hill Resources (TSE:TRQ) and Aluminum Corporation of China (Chalco) have dropped a $925 million bid for SouthGobi.

SouthGobi Resources (TSE:SGQ) says it will stop production at its Mongolian coal mine this month, amid a controversial Chinese takeover bid for the Canadian mining company.

Aluminum Corp. of China (Chalco) Monday agreed to buy a controlling stake in Mongolian coal miner SouthGobi Resources (TSE:SGQ) from Ivanhoe Mines (TSE:IVN)(NYSE:IVN) in a deal worth as much as C$925 million.

SouthGobi Resources (TSE:SGQ) Monday posted a profit for 2011, thanks to a record 58 percent increase in the amount of coal sold to around 4.02 million tonnes.

Canadian shares gained a second day as energy producers climbed after positive economic reports from the U.S., the country's largest trading partner, indicated economic growth is gaining momentum, outweighing declines in mining stocks. The resource-heavy benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) added 0.4 percent to 12,557.31 at 12:33 p.m. in Toronto on Friday. Nine of ten groups gained.

If you think the pain in the resource sector is over, Rick Rule will gladly give you a reality check. But, the chairman of Sprott U.S. Holdings says being brash in a bear market where there is no competition will pay off.

Curis Resources (TSE:CUV) has arranged to raise $6 million through a non-brokered private placement financing, with funds to be used to advance the development of the company's Florence copper project in Arizona, which earlier this year yielded strong economics in a prefeasibilty report. 

Iron ore explorer Afferro Mining (LON:AFF) (CVE:AFF) said talks are continuing with would-be buyer International Mining and Infrastructure Corporation (LON:IMIC) following confirmation the latter has the funds needed to launch a bid.

Largo Resources (CVE:LGO) has garnered some impressive feedback from analysts this week, with some saying the company has the potential to become a leading supplier of vanadium in the stable jurisdiction of Brazil.