Second Australian iron-ore train derailed in less than a week

Big and small companies are affected by high costs, low prices and wary investors.

Operation is estimated to fetch about $1.7 billion.

From 120m tonnes to less than zero in four years.

It became the latest large miner to write down assets in the face of falling commodity prices.

Australian mining tycoon Clive Palmer expects Titanic II to be ready for its inaugural voyage by 2016.

Rusty had been predicted to strike the Pilbara region's Port Hedland iron ore port, but instead touched down in the nearby town of Pardoo.

That's gonna hurt.

The discovery of the Venus deposit could reshape the future profitability and direction of BHP's struggling Nickel West business.

The announcement pushes Rio's new CEO Sam Walsh to deliver on his promise of vast operating cost cuts, asset sales and reduced capital expenditure ahead of a possible collapse in iron ore prices.