The International Monetary Fund's 2013 growth forecast for Australia has been moderately reduced due to the country's significant exposure to international commodities markets.
Aussie iron ore miner and steelmaker Arrium (ASX:ARI) has stated publicly that it spurned a $1 billion takeover bid from a Korean consortium due to expectations of a rebound in iron ore prices.
Vale was granted a preliminary environmental license for the new mine in June, but the $100 billion company has run into problems with the project before.
A new set of regulations for prospectors and mining companies working claims in Northern Ontario, Canada, which goes into effect Nov. 1, is already stirring some controversy as First Nations claim still allows claims anywhere companies want.
At the same time the 50-year-old boss of the world's number one miner also pocketed 300,000 BHP shares worth more than $10 million thanks to the company's employee share incentive scheme.