Anglo American to divest from thermal coal operations by 2023

Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.

Andrew Harding, once tipped as the most likely person to take the company’s reins, is being replaced by Chris Salisbury, currently leading the copper and coal division.

Despite only taking several minutes online, and costing less than the morning newspaper and cup of coffee, many Australian businesses are failing to protect their legal rights of ownership.

A cash-and-stock deal is said to be the favourite option at this point, though the parties are also discussing other alternatives.

Broad-based advance for mining majors as gold price touches $1,300, iron ore holds $50 and copper price surges 4%

The company's Bayan Khundii project went from greenfield prospect to the company’s flagship asset in roughly nine months.

The country is said to be sitting on mineral deposits worth hundreds of billions of dollars which, once developed, could surpass oil as its main source of income.

Gold is up more than 20% in 2016 but gold mining equities have doubled and the sector as a whole has returned 53%.

The mining giant is said to have hired Goldman Sachs as an adviser to look at a two-step wrap-up of the Vancouver-based firm.