According to references from a developer who was been working with the new iOS 7 SDK, Apple could be working on an updated model of the iPad Mini that will have the faster A6 processor, but no Retina Display.
The references is said to be located in a hidden file that lists all devices that support iOS 7. That said, while iPad Mini with the faster A6 processor does exist, there is no telling if Apple will actually ship it. This particular iPad Mini could be used solely for internal testing.
It has been rumored widely that the next iPad Mini will have a Retina Display, but with such displays facing supply shortages, could Apple introduce an iPad Mini with an upgraded processor minus the Retina Display as a stopgap measure to buy more time for the eventual iPad Mini with Retina Display?
Source: 9to5 Mac