Separately, Vedanta Resources announced a tender offer to buy back as much as $500 million of its dollar notes due in July.

The SEC’s complaint, filed in federal court in Brooklyn, is seeking civil penalties, ill-gotten gains plus interest.

Glencore Plc is the latest giant miner to pare back production forecasts, in what’s turning out to be a difficult start to the year for companies.

The company is in talks with governments eager to beef up access to rare earths outside China.

Production at the flagship Cadia gold mine in New South Wales soared 30% sequentially.

Vale cited lower sales of iron ore fines and pellets due to an intense rain season in top mining state Minas Gerais.