The Materials, Metals & Mining and Gold indexes all posted gains of around 0.6%, outperforming the broader market.

The S&P/ASX 200 gained 0.3% or 15.2 points to 4790.4.

The price of gold continued to climb, reaching $US1413 per ounce.

Meanwhile, lead and zinc were standouts on the London Metal Exchange overnight.

Lead jumped 4.4% to $2536 per tonne while zinc gained 3.9% to $2385.75/t.

Most of the top mining companies posted gains, including majors BHP Billiton and Rio Tinto.

BHP gained A40c to $45.85, while Rio closed 22c up to $85.70.

Yesterday, Rio was forced to declare force majeure over its coal sales, as floods ravage Queensland and affect other miners too, including Wesfarmers, Cockatoo Coal, Gloucester Coal, Aquila Resources, Vale, Xstrata and Whitehaven Coal.

Lynas Corporation had another stellar session, after soaring yesterday on China’s tightening of rare earth exports.

The rare earths hopeful gained a further 10% or 18c to $1.975, after jumping 10.8% yesterday.

Gloucester Coal and Grange Resources also had good sessions, both gaining 4.1% to $12.23 and 76c respectively.

PanAust jumped 5.3% or 4.5c to 89c on an increased 2010 earnings guidance.

Meanwhile, the Australian Securities Exchange issued speeding tickets to Australasian Resources and Resource and Investment today.

Australasian was one of the biggest movers, jumping 35% or 16c to 61c, but had no reason for the jump.

RNI was queried after its shares rose to $1.35 yesterday from $1.10 on Christmas Eve.

Resource and Investment said a possible reason for the rise was an article on MiningNews.net last week which noted the company was the best performing resource stock in 2010, gaining more than 1000%.

RNI shares closed at $1.18 today.