Alcoa’s workers accept offer, ‘exhausted’ from 18-month dispute

Up to 3,000 jobs could be axed from BHP's flagship iron ore division, where 500 jobs have already been lost.

Net profits from progressing economies-based miners reached $24 billion in 2013, compared to a net loss of $4 billion for developed market firms.

But Chinese banks are starting to call in iron ore-backed loans to traders holding 38mt, forcing them to dump inventories onto already well-supplied market.

The country's mining industry has lost 6,600 workers in the three months to May.

Back above $90 a tonne after soaring Indian ore import numbers lift sentiment.

The company now has 15 days to appeal with the High Court.

Commodities from coal to gold once traded in close correlation, but today the graph looks helter-skelter.

Iron ore and steel prices are approaching levels last seen during the height of the financial crisis.

Vale said the tribe wants to modify an agreement to mitigate the mine's impact on its community's development.