resources

• U.S. Energy Information Administration claims that China uses almost as much coal in a year as the rest of the world combined, accounting for 47 percent of coal consumption. The organisation claims that 3.8 billion tonnes in 2011, up 9 percent.

Rio Tinto (ASX:RIO) and Ivanhoe Mines will keep their profits from the Oyu Tolgoi copper and gold mining project without the Mongolian government taking a higher stake.

Together with the two miners, the government last night issued a statement saying it will continue to support the existing investment agreement, wherein section 15.30 requires all three parties to consent to any amendments.

Woolworths (ASX:WOW) and Wesfarmers' owned Coles (ASX:WES) hits back on claims by World Growth that they are hurting suppliers by imposing strict environmental standards. According the the US based free market lobby group the retailers are ''harming the poor'' in developing countries who cannot meet the strict environmental requirements.

Arrow Energy (AOE) and Apollo Gas (AZO) have found a new potential gas resource in Newcastle, New South Wales. The resource is help in a partnership between the two companies.