Commodity prices have been among the hardest hit by the wave of market panic. This has dragged down the stock of International Royalty Corp. (AMEX:ROY), which owns a portfolio of royalties from 80 mines around the world. Chris Mayer says this presents a great buying opportunity for investors. The company is not exposed to rising mining costs, yet it receives a slice of every ounce of metal that it pulled out. Chris says it’s “like a big bucket of call options…that don’t expire.”

The market is throwing away resource stocks amid panic on Wall Street.”You’d think the world will never again need gold, silver, platinum, oil, natural gas, uranium, copper, lead or zinc,” says Russell McDougal at Investor’s Daily Edge.

The old adage “the time to buy is when blood is running in the streets” remains true, however.

Russell says the stock shakeout provides a great opportunity for savvy investors. He recommends buying up quality resource stocks now and holding them for long-term profits.

Mining is an expensive business. So if commodities prices fall sharply many mines are forced to close rather than operate at a loss. When this happens supply tightens and prices begin to recover. Chris Mayer says there are signs this is happening now… and a rally in mining stocks is on its way.

The Reserve Bank of Australia (RBA) has cut its benchmark rate 25 basis points to 7%. This has sent the Aussie dollar and local stocks tumbling.

Chuck Butler says only one more rate cut is likely this year. Charles Delvalle, meanwhile, expects dividends on Austrialian companies BHP Billiton (NYSE:BHP) and Rio Tinto (ASX:RIO) to fall as the Aussie dollar weakens against the greenback.

Al Robinson at The Daily Reckoning Australia says the RBA is caught between fighting higher prices and a stagnating economy. But he says local mining stocks still a good bet…

Australian Federal Treasurer Wayne Swann has approved the sale of 11% of Rio Tinto (ASX:RIO) to Chinalco. The Daily Reckoning’s Dan Denning says this is just more evidence of foreign interest in Australia’s mineral deposits.

Faced with this reality, Dan says the government needs to decide whether Australia is for sale or not.

One thing for certain, as emerging giants like China and India increase their per capita income, the chase for global resources will become more intense. And Australia will be in the thick of the action…