Shares of Teck Comincon (NYSE:TCK) dropped C$0.18 to close at C$7.42 after the diversified miner announced that it will cut 1,400 jobs and lower output from its coal operations.

The latest victim in the debt crisis is First Metals. The owner of the Fabie copper mine and the advanced Magusi mine project in Quebec filed with the Official Receiver a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act. First Metals has not made the interest payment due December 31, 2008 on its outstanding senior secured Notes. First Metals ended the session down C$0.03 at C$0.025.

Goldcorp added C$0.59 to close at C$33.59 after the company said it plans to increase output by 50% over the next five years.

Meanwhile, Kinross Gold (NYSE:KGC) says it will spend $460 million in 2009 to boost its production by 32% to around 2.5 million ounces of gold. Kinross ended the day up C$1.29 at C$21.57.

ATW Gold cut 16 metres grading 9.79 grams gold per tonne at its Burnakura gold mine project in Western Australia. ATW ended the day up C$0.02 at C$0.48.

Grande Cache Coal lost C$0.13 to close at C$1.05 after the miner announced that due to the worldwide economic slowdown, steel producers are uncertain about the level of demand they will experience in 2009 and beyond.

Cutbacks and mine closures continue to take center stage on the news front. We will see what Friday trading has in store.

Source: Resource Stock Roundup:Friday, January 09th, 2009