A delegation from the Australian state of Queensland will meet federal environment minister Tony Burke on Thursday to hammer out a deal on a massive coal project led by India's GVK and Hancock Prospecting after Burke halted the approval process.
Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.
Shares of China's tungsten companies climbed on Wednesday after the country’s Ministry of Land and Resources announced the discovery of the world's largest tungsten mine in east province of Jiangxi.
Canada will double its crude oil production by 2030, increasing output from three million barrels a day to 6.2 million barrels a day, according to a study by the Canadian Association of Petroleum Producers.
The drop-off in demand, exacerbated by high inventories thanks to a mild northern hemisphere winter and a surge in US exports have led to a collapse in thermal coal prices.
Australian environment minister Tony Burke decided on Tuesday to "stop the clock" on Hancock Prospecting and GVK's Alpha coal project despite approval from the state of Queensland given last week.
Canada topped the global mining and metals sector as the number one target destination by total deal value in the first three months of this year, says international firm Ernst & Young.
The massive developments in mining and oil and gas in Canada have also pulled along a thriving manufacturing sector, according to a study by Conference Board of Canada and the Business Development Bank of Canada.