Transnet, which operates the nation’s industrial ports and freight rail network and fuel pipelines, has declared force majeure on shipments because of the labor action.

"This is a blow to major polluters in the mining and resources sectors," the Australian Financial Review said.

BHP is seeking approval from Australia’s government to extend the life of the Peak Downs mine.

Producing iron at lukewarm temperatures and without coal would skip the most emissions-heavy step without relying on expensive technologies.

Almost half the coal industry is expanding, with China leading the way.

World’s 50 biggest mining companies have shed $627 billion since hitting highs in March this year even as investors pile into the best performing sectors.

New Largo is conceived as a feeder mine for the Kusile coal-fired power plant owned by state power company Eskom.

Australia expects a boost to its commodity export earnings caused by Russia’s invasion of Ukraine to last into 2024.