Australian Resources Minister Martin Ferguson says the onset of an era of low commodities prices does not spell the end of the country's China-backed mining boom.
Brazilian mining giant Vale (NYSE:VALE) is expected to log a year-on-year Q3 profit decline of 61% due to this year's precipitous dive in iron ore prices.
Gold Fields (JSE:GFI) has fired 8,500 striking workers at a mine in South Africa following their failure to respond to an ultimatum to abandon the strike.
Australian sales of gold to China have surged a staggering 905.4% on the back of the Middle Kingdom's efforts to short up its foreign currency reserves.
ArcelorMittal, the world's largest steel producer, is considering to sale a stake in its $10 billion Canadian iron ore business, in an attempt to weather the slump in its key commodity, reports FT.