Australia to curb ‘excessive’ wait times for project approvals

Supply-demand fundamentals for iron ore appear to be moving back to balance amid steel supply concerns and after Chinese stock market regulators announced more steps to discourage speculative trading in the steelmaking commodity.

Glencore's boss has consistently spanked his competitors for wasting and ultimately popping the now deflated long resources boom through a suicidal splurge on growth that took no account of demand and pricing.

New report says mining and metals companies set to default on debt at more than three times the historical rate going back to 1983.

Seven trading days in and already global mining investors are nursing double digit declines as everything from copper to met coal to silver take a beating.

In a rerun of last year's stock market collapse in China, mainland retail investors are now fleeing raw material markets frantically bid up since March.

"But, alas, I was fooled."

Strategic shift comes as the world's biggest miner tries to regain investors' confidence.

Monday mayhem as metals rally evaporates and mining's top names are dumped – Anglo's losses since a week ago now 28%, Freeport has plunged 25%.

It now owns 8.47% of Atlas Iron, which gives Glencore direct exposure to iron ore production.