Rio Tinto axes iron ore export forecast for the year

The International Monetary Fund's 2013 growth forecast for Australia has been moderately reduced due to the country's significant exposure to international commodities markets.

China has unveiled ambitious plans for the conversion of coal extracted in remote mining regions into gas for usage in urban areas.

The power of commodities enhances a portfolio

At the same time the 50-year-old boss of the world's number one miner also pocketed 300,000 BHP shares worth more than $10 million thanks to the company's employee share incentive scheme.

Anglo American Platinum, the world's largest platinum producer, has fired 12,000 workers taking part in a three-week illegal strike after following through on tough talk over wildcat stoppages in South African mines.

IBM is ramping up its provision of services and equipment to the Australian resources sector as rising costs compel miners to seek to cheaper and more efficient operating methods.

Australia faces the parlous challenge of juggling trade relations with the three key East Asian economies, all of whom covet free trade agreements with the antipodean continent in order to shore up their access to resources.

Flamboyant Australian mining tycoon Clive Palmer has plans to construct a near-perfect replica of the ill-fated giant passenger ship.

The CEO of diversified mining giant Anglo American (LSE:AAL) Cynthia Carroll has been appointed chairman of venerable diamond miner De Beers.