Congo enacts plan to blunt virus impact as cobalt exports slump

Authorities are is planning to send a letter to the Colorado-based miner saying that it has defaulted on its contract and, therefore, is “negligent."

The Toronto-based firm has shown president and CEO Jamie Sokalsky the door two years into the job, and less than three months after a breakdown in merger talks with its largest rival.

The world’s second-largest mining company’s produced 139.5 million metric tons of iron ore in the six months through June, while its shipments rose 20% to 142.4 million tons.

As BHP considers the sale of almost all of the businesses that Billiton brought to the 2001 merger deal, experts say the firm is likely to end up leaving London.

The miner has agreed to form a joint venture with Saudi Arabian Mining Co (Ma'aden) to run its Jabal Sayid asset.

Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.

The miner is now looking for new projects that will allow it to return more than 30% average value to shareholders, president Clive Newall said.

The move aims to shift blame for delays away from the government.

The leading edge is starting to arrive.