Anglesey Mining's (LON:AYM) shares soared after its associate, Labrador Iron Mines Holdings, entered into a new iron ore sales agreement with the Iron Ore Company of Canada (IOC) for the sale of all of LIM's iron ore production in 2013 and 2014.

At the same time, LIM has announced that it has entered into an off-take financing agreement with RB Metalloyd (RBM), a leading international commodity trading house, under which LIM will receive an advance payment of $35m to be credited against future sales of a minimum of 3.5m tonnes of iron ore during 2013 and 2014.

LIM chairman and chief executive John Kearney said: "We are very pleased to be able to continue our working relationship with IOC as we head into our third year of production from our Schefferville area iron ore mines.

"In addition, extending the contract for the next two years and fixing the price to be calculated based on the monthly average of the market index are two important improvements over previous years."

Gemfields (LON:GEM) was also up after it reported another positive quarter.

Gemstone production at the Kagem emerald mine increased to 6.5 million carats in the three months to the end of March - up from 4.9 million carats a year ago.

Grade for the quarter increased to 265 carats per tonne - up from 236 carats per tonne last time - and unit production costs fell by 34% to $0.56 per carat.

Chief executive Ian Harebottle said the group achieved record revenues from its most recent auction of lower quality rough emerald and beryl, despite a small drop in the average per carat price achieved.

He added: "We continue to seek to address the possible ban on foreign auctions by the Ministry of Mines in Zambia and - in that light - we are delighted to be hosting the first-of-its-kind '2013 Zambian Emerald Summit' in Lusaka at the end of this month to facilitate discussion among all of the key emerald sector stakeholders."

Kirkland Lake Gold (LON:KGI) sold 91,756 ounces in the year to the end of April, meeting revised production guidance.

Ounces produced were 91,518 from 304,062 tons of ore at a head grade of 0.3145 opt and a recovery rate of 95.72%.

During the fourth quarter, 89,384 tons were produced at a head grade of 0.3673 ounces per ton and a recovery rate of 95.94% to produce 31,503 ounces of gold. Produced ounces for the month of April were 15,464 ounces.

Following the completion of the hoisting capacity increase, April saw Macassa mine record daily ore tonnage of 1,192 tons and head grades of 0.4501 opt.

Average daily ore tonnage rates for the quarter were 1,004 tons per day, slightly surpassing the upper end of the company's 900 - 1,000 tons per day target for the quarter.

Chairman Harry Dobson said: "With the increased hoisting capacity available this quarter, the company is now starting to realise the benefits of its production expansion plans and develop higher grade stopes on the lower levels of the South Mine Complex. Daily ore tonnage rates at 1,004 tons in Q4 somewhat exceeded plan and will progressively ramp up to achieve 1,400 - 1,600 tons of ore per day in our second fiscal quarter."

The company's fiscal year 2014 guidance (1 May 2013 - 30 April 2014) is to sell 150,000 - 180,000 ounces of gold.

BHP Billiton (LON:BLT) chief executive Andrew Mackenzie believes the company's strategy will deliver substantial growth in free cash flow.

Mackenzie - who presented at the Bank of America Merrill Lynch 2013 Global Metals, Mining and Steel Conference in Barcelona today (14 May) - said: "Our enduring strategy has worked well for the company and its shareholders. In fact, strict adherence to this strategy is what has differentiated us and I intend to give it an even sharper focus.

"My passion for our productivity agenda and this extends to our development projects. We must challenge ourselves to increase returns from new investment, in the same way that we need to squeeze returns from our installed infrastructure. In this regard, capital and exploration expenditure for the 2014 financial year will decline significantly, to approximately US$18bn, and the rate of spend is expected to decline substantially thereafter.

"By reducing our annual spend and increasing internal competition for capital, we expect to maximise returns from incremental investment, while delivering a substantial increase in the Group's free cash flow," he added.

Mackenzie concluded by saying: "This is a wonderful time to be at the helm of the world's largest natural resources company. We believe our strategy, when combined with our great ore bodies, will deliver stronger margins throughout the economic cycle, a simpler and more capital efficient structure, a substantial increase in free cash flow and growth in shareholder value."

Landore Resources (LON:LND) posted a loss of ã4,330,518 for the year to the end of December - up from ã485,403 in 2011.

Landore said the increase was largely due to the profit generated from the previous year's demerger of Lamaune Iron Inc. Exploration and resource drilling also contributed to the year's losses.

The expenditure item of direct explorations costs amounted to ã3,126,093 during the year, funded by share placements raising approximately ã4.9m during 2012.

Landore Resources has no debt and continues to raise further equity as needed to carry out its development plans. Since the year end the group has raised a further ã835,000 to strengthen its available cash resources. The directors are confident of raising further funds as required.

Hochschild Mining chief executive Ignacio Bustamante gave an update on the company's progress in 2013 at the Bank of America Merrill Lynch Global Metals, Mining & Steel Conference in Barcelona today (14 May).

This included details on several of the measures taken as part of the company's previously announced cashflow optimisation action plan, implemented as a prudent response to recent volatility in precious metal prices.

Bustamante said: "We have highlighted in our first quarter interim management statement that Hochschild has initiated an action plan to conserve capital and optimise cashflow and I am pleased that we are today able to give an update on our progress.

"The company has moved swiftly to implement plans that were put in place as part of our ongoing review of market conditions and has already begun to deliver significant savings without impacting our overall long term exploration-led strategy.

"I am confident that we will be able to report back with further important progress at our interim results in August."

African Barrick Gold (LON:ABG) reports continued good progress on its operational review with tangible reductions in the cost base.

The review has been broken into three concurrent workstreams with an immediate focus on corporate vverheads, exploration, capital spend and the overall organisational structure.

Chief executive Greg Hawkins said: "After a challenging period in 2012, it has been encouraging to hit our targets in the last two quarters. We have made significant improvements to the Buzwagi operation, while North Mara is performing well and Bulyanhulu is on track for recovery.

"We are making good progress on cost reductions through the Operational Review and we are well under way with a complete life of minereview of the assets.

"We have moved to shut our high cost mine at Tulawaka, are on track with our expansion project at Bulyanhulu and are determined to ensure that ABG can generate robust cash flows over the long term."

Miners at Lonmin's (LON:LMI) operations at Marikana in South Africa have stopped work.

The company has reported that none of its mining workforce went underground this morning and no mining is currently taking place at Marikana.

The company is in discussions with its recognised trade unions to ascertain the reasons for the stoppage and to encourage workers to return to work.

Tertiary Minerals (LON:TYM) booked a first-half loss of ã0.26 million, from a loss of ã0.19 million.

"The Company's activities remain firmly focused on its objective to become a significant producer of fluorspar (CaF2), an essential raw material of fluorine in the chemical, steel and aluminium industries," it said.

Fluorspar is considered a strategic mineral in both Europe and the USA because of a reliance on imports, particularly from China.

Minera IRL's (LON:MIRL)first-quarter pretax profit slumped 94% to $0.2 million, from $3.1 million, as it significantly reduced exploration activities at the Don Nicolas Project and its Patagonia tenement.

Revenue was $9.2 million, down 17% from $11.1 million. Gold sales totalled 5660 oz, down 13% frm 6515 oz. The average realised price was $1631/oz, from $1699/oz.

"The results ... are in line with our expectations. Corihuarmi has now been in production for over five years and an outstanding success," said executive chairman Courtney Chamberlain.

"Production is now declining with the mining and treatment of lower grade ore but the mine continues to generate strong cash flow. The lower gold production has resulted in a modest pre-tax profit of $0.2 million but an after tax loss of $1.1 million."

In a separate statement, Minera IRL said it was scheduling output of 24,000 oz of gold from its Corihuarmi Gold Mine in 2013, down from 27,321 oz in 2012 due to anticipated lower grade.

"Mining at Corihuarmi is currently scheduled to continue until early-2015; however, the Company is currently carrying out a Feasibility Study of a prospect known as Cayhua with the objective of extending the mine life to mid-2016."

The company also said, given its current cash position, that "exploration activities at Don Nicolas and on the Company's large exploration tenement in the Patagonia region have been significantly reduced, with no drilling currently planned until financing for Don Nicolas is secured."

At the March 31 balance day, Minera had working capital of $0.9 million, from $5.3 million a year earlier. It had cash of $6.5 million, from $6.2 million.

At 3:56pm:

(LON:AMI) American Investment Trust share price was +0.88p at 255.88p

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(LON:AYM) Anglesey Mining share price was +1.5p at 8.5p

(LON:BEM) share price was +0.13p at 7.5p

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(LON:BLT) BHP Billiton share price was +8p at 1919.5p

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(LON:FDI) Firestone Diamonds share price was 0p at 2.75p

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(LON:GEMD) share price was +0.13p at 127.63p

(LON:HOC) share price was -2.85p at 253.55p

(LON:KGI) Kirkland Lake Gold share price was +7.5p at 222.5p

(LON:KMR) Kenmare Resources share price was +0.56p at 29.6p

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(LON:VED) Vedanta Resources share price was -32p at 1248p