China’s iron ore rises on renewed steel output; 2nd day of foreign trade

Australia's political and business leaders signaled their emphatic support for the country's increased involvement in the African mining sector at a conference in Perth on Thursday.

Iron ore prices hit the lowest level since November 2009 on Tuesday as the commodity crashed 4.6% closing at $94.80. The dive proved a drag for producers of the commodity, particularly companies investing heavily to expand their production capacity.

MMG (HSX:1208) CEO Andrew Michelmore says China's leadership transition later this year could put the brakes on overseas investment due to impeded decision-making by China's policy-making elite.

Financial Times analysts are the latest ones singing the “supercycle is over” song, as the paper points today to recent profit reports from major miners, including Anglo American, BHP Billiton, Rio Tinto and Xstrata as the most recent evidence.

China's overseas buying spree continues unabated, with companies upping the pace of their US asset purchases.

Jeffrey Wilson of Murdoch University's Asia Research Centre examines China's pivotal role in the boom and possible bust of Australia's iron ore sector.

BHP Billiton (LON/ASX/NYSE:BHP) took Monday another step away from resource expansion in Australia, particularly in the uranium sector. The world's number one miner announced it's selling one of the country's largest undeveloped deposits of the yellow element to Canadian Cameco (TSX:CCO) (NYSE:CCJ) for $430 million.

A recent survey conducted by resource and energy sector HR firm EarthStream shows mining professionals around the world expect major salary gains in the upcoming year.

Peking University finance professor Michael Pettis writes on his blog that the long-anticipated rebalancing of the Chinese economy may have already commenced.