Fortescue Metals Group Ltd

Magnetic Resources (ASX:MAU) has applied for an exploration licence covering a substantial magnetic anomaly north of the Tallering Peak iron ore operation. The new tenement (called the Malara project) is situated 50km north of Tallering Peak some 210km by road from the port of Geraldton and forms part of Magnetic's search for iron ore close to existing infrastructure. The railhead at Mullewa is situated about 115km south of Malara.

Atlas Iron Limited (ASX:AGO) is pleased to provide an operational update on recent progress towards achieving iron ore exports at a combined rate of 6 million tonnes per annum (Mtpa) from its Wodgina and Pardoo DSO operations in Western Australia by December 2010.

Emerging iron ore explorer Dynasty Metals (ASX:DMA) today announced an initial maiden 453 million tonne JORC Compliant Resources including 129 million tonnes @ 30.5% Fe (equivalent to Calcined Fe "CaFe" of 33%) at a cut-off grade of 27% Fe in the Company's Spearhole Detrital Channel Iron deposit at Prairie Downs in the Pilbara region of Western Australia.

Australian shares and Asian markets Friday were down on the US Federal Reserve's decision to raise the discount rate for the first time since the financial crisis. NAB's flat cash earnings result also weighed on the Australian shares. At the close, the benchmark S&P/ASX200 index declined 19.8 points, or 0.4 per cent, at 4635.1, while the broader All Ordinaries index slid 17.6 points, or 0.4 per cent, to 4656.3. The local market gained 2 per cent for the week.

Australian shares ended lower on Thursday after a weaker-than-expected ABS retail sales data and Myer's disappointing result for first half FY2010. The benchmark S&P/ASX200 index closed 26.3 points, or 0.57 per cent lower, at 4621.6, while the broader All Ordinaries index gave up 29.1 points, or 0.62 per cent, to 4644.1.

Australian sharemarket dropped on Thursday due to concerns that China's bank lending halt may hit the global economy recovery. Chinese government data showed that GDP increased by 8.7 per cent in 2009 but inflation surged towards the end of the year. The results fuelled the expectations that China will introduce more measures to slow inflation. At the close on Thursday, the benchmark S&P/ASX200 index was down 41 points, or 0.8 per cent, at 4827.2, while the broader All Ordinaries index lost 45.8 points, or 0.9 per cent, to 4849.6.

The Australian sharemarket ended the four consecutive day losing streak and closed higher on Friday in quiet trading condition. The market opened stronger on the good lead from Wall Street and made sustained gains, helped by the Chinese industrial production data suggesting demand for Australian resources will remain strong. At the close, the benchmark S&P/ASX 200 index rose 28.5 points, or 0.62 per cent, to 4635.20 points, while the broader All Ordinaries index also advanced 28.5 at 4651.40 points. For the week, the market closed down 1.4 percent.

Asian shares were mostly steady on Tuesday after significant rebounds in the previous trading session. Yesterday the Dow index concluded the last trading day of November in positive territory. It was its fifth consecutive monthly gain, despite a bad news from Dubai.

US stocks overnight closed at a new high for the year as the G20 finance ministers and central bankers pledged to keep stimulus measures until a recovery was certain. Dow jumped more than 200 points for the session, with 29 of the index's 30 components finished in the green.

Dow Jones Industrial Average edged higher overnight towards the 10,000 points psychological level, helped by a market confidence on corporate earnings of blue chip companies. Energy stocks were also up on the back of a jump in crude oil prices.