Vale and Brazil state approach $7bn deal over Brumadinho

World number 4 iron ore miner Fortescue Metals Group said on Monday it will pay a record-high final dividend after more than doubling its annual profit, and plans to give more of its profits to shareholders in the future.

Another big day on Chinese futures markets as seaborne iron ore prices approach $80 a tonne.

A committee of six ministers pointed to numerous flaws with the project, including severe impact to a Humboldt penguin reserve.

Experts and mining companies fear some of the modifications that go in effect in November, will result in hefty taxes, higher research costs and decrease interest from foreign investors.

Jumps 5.6%.

Israeli diamond billionaire Beny Steinmetz, four others, in custody of Israeli police on suspicion of fraud, forgery, obstruction of justice and bribery.

ArcelorMittal South Africa is considering job cuts and restructuring to save costs in a challenging global steel market and recession at home, it said on Tuesday.

Bigger-than-expected shareholder support in Vale SA's stock conversion plan could lead the world's No. 1 iron ore producer to accelerate the listing of common shares in Brazil's strictest market segment and lure a boarder base of investors.

Trans-Tasman is now allowed to recover resources from the country’s Exclusive Economic Zone