Brazil’s Vale 1st-qtr profit slumps by a third as costs rise

Following Martin Ferguson’s rash declaration last week that Australia’s mining boom had come to an end several leading economic experts have publicly refuted the Australian Resource Minister’s dire prognosis.

“Shocked” over the magnitude of alleged illegal iron ore exports by private companies in southern India, the country’s Supreme Court said it wants to explore the possibility of punishing the guilty parties within six months.

Spot market iron-ore prices dropped again overnight despite news that steel production in China, the biggest iron-ore-consuming nation, continued to rise in early August.

The world's number one miner, BHP Billiton, wants to leave the news of its first decrease in annual profit in three years behind by focusing on finding the most lucrative way to increase iron ore production in Western Australia.

China's regional governments have unveiled a slew of new stimulus plans over the past two months worth a total of 7 trillion yuan according to Chinese-language news sources.

Less than 24 hours after Australia's minister for resources and energy declared that the country's mining boom had come to an end, he appeared saying he was misinterpreted, and that the resources industry is still moving ahead.

The world's number one miner, BHP Billiton, has delayed its $30 billion Olympic Dam copper-uranium expansion and said no major projects would be approved until June 2013 as it tries cutting costs.

Marius Kloppers, CEO of mining giant BHP Billiton, has decided to waive his annual bonus in light of a recent forecast in which BHP's revenues are projected to drop 38%

Philippine gold production dropped by over half, but the reduction may have more to do with tax policy than actual output.