The approved first phase of the expansion project will extend Diavik’s productive life to at least early 2026.

The miner estimates it will spend $1bn per year to bring Woodsmith into production by 2027, both a higher cost and longer timeframe than previously expected.

Measure is the latest escalation in a dispute between the company and the Panamanian government over the giant Cobre Panama mine.

MP Materials, owner of the Mountain Pass mine in California, will sell output from its separation unit directly to Sumitomo Corp. for distribution in Japan.

Rio's bottom line was hit by weaker iron ore prices as demand from China slowed, as well as higher labour and material costs.

Aluminum will come from Rio Tinto's hydro-powered operations in Canada to BMW’s production plant in Spartanburg, South Carolina.

Teck's multibillion-dollar steelmaking coal unit will be an independent publicly-listed firm called Elk Valley Resources Ltd.