Diversified miner Xstrata (LON:XTA) announced Wednesday it is suspending operations at its Cosmos nickel mine in Western Australia, as nickel prices have plummeted dramatically.
AngloGold Ashanti (NYSE:AU) was hit by the mining unrest spreading through South Africa again Tuesday night, as strikers halted all of its operations in the country, which account for 32% of the multinational's total gold production.
The financial and legal difficulties of Nathan Tinkler could damage Whitehaven shares (ASX:WHC) due to expectations that the Australian mining magnate will dump his holdings in the fledgling coal miner.
If you had any doubts over what mining giant Rio Tinto (ASX, LON:RIO) thinks about coal and small operations, today’s news should make it clear. The Anglo-Australian miner has agreed to sell two minor coal assets in South Africa to Canadian Forbes & Manhattan Coal for $53 million
Rio Tinto is cutting even more coal mining jobs in Australia as the miner is struggling with a dramatic plunge in coal prices and a high Australian dollar.
Slated reforms to China's pricing system for the carbon fossil fuel indicate that the country's leading decision-makers anticipate a sustained decline in global spot prices.
Both Australian trade minister Craig Emerson and treasurer Wayne Swan over the weekend entered the debate over whether the country is facing a period of decline as the country's resource-led economy loses steam.