Argonaut says to start drilling despite Aboriginal appeal

“A lot of investors were really badly burned, ourselves included.”

Minerals Council of Australia’s pre-Budget submission warns that every year Budget repair is delayed puts Australia closer to the risk of an economic shock.

Australia expects iron ore prices to average $51.50 a tonne this year because of rising global supply and moderating demand from top importer China.

Coal and iron ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future.

The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.

Investments grew by 54.8% compared to the same month of 2016.

Cold weather is expected to hit regions across China in the coming week, bringing snow and rain that may cause disruptions at construction sites, one of the biggest consumers of steel.

Vale and BHP Billiton in talks over future of their Samarco iron-ore joint venture, including the possibility of the Brazilian miner taking full ownership.

The company, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, circulated the final draft of a restructuring proposal among its creditors.