Rio Tinto’s exit from coal pays off, to return $3.2B from sales proceeds to shareholders

Duplicative permitting processes can delay mining projects a decade or longer.

The company, however, says it has not yet received any direct communication from Mongolia on the matter.

Beleaguered U.S. coal producers were thrown a lifeline after the Supreme Court struck down the Obama administration’s rule on mercury and acid gases from power plants.

By 2017, large emitters will have to reduce the intensity of greenhouse gases by 20%, while carbon levies will double from $15 a tonne to $30 a tonne.

The company, however, said it remained committed to the diamond industry.

Potashcorp shares jump after making unsolicited bid for Europe's largest potash producer amid fundamental shifts in the industry.

Bear market is more than 1,000 days old and nearly 1,200 companies have dropped off the Toronto venture market.

But the Indian company said it remains committed to the US$12bn Carmichael project in Queensland, Australia.

The cuts at the Adelaide support office for the Olympic Dam operations come about six months after BHP scrapped about 90 permanent positions and 210 contractor jobs.