Rio Tinto speeds up driverless fleet expansion in Australia

“The coal business is terrible."

Bookrunners are BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Credit Suisse (USA) LLC and RBS Securities Inc.

Report shows mining companies are not longer trusted on their abilities to control costs, deliver on promises and cope with resource nationalization demands.

It failed to find an investment partner.

Bureau of Land Management selling mining leases at below market value adds up to billions of lost dollars.

The report also says junior miners will continue to be cash strapped for at least another year, as the global mining industry slows down.

Small coal miners are already under financial pressure coming from falling prices and their rather higher costs.

Authorities allege Glencore hid profits by paying other units above-market prices for raw materials.

"Western Australia is arguably close to experiencing recession-like conditions."