Rio Tinto (ASX:RIO) continues the recent spate of mining sector retrenchments with job cuts at its Clermont thermal coal mine in Australia's north-east.
Takeovers and mergers in the global mining sector has slowed radically this year as a result of lower commodity prices, but Canadian companies continue leading worldwide mergers and acquisitions.
Despite the controversy generated by China National Offshore Oil Corp's proposed $15.1 billion takeover of Canadian oil producer Nexen, Thursday’s shareholders vote is seen by industry experts as a mere formality.
Alpha Natural Resources has announced the closure of eight coal mines in Virginia and Pennsylvania as well as the reduction of its workforce by 1,200 heads.