Global aluminum supplier Norsk Hydro yesterday announced plans to cut the capacity of its Australian New South Wales-based Kurri Kurri smelter by 33 percent citing low metal prices as the main reason for its decision.

Rio Tinto's head of iron ore, Sam Walsh has lashed out at claims the mining industry does not support Australian manufacturing, labelling it a myth. “There’s a bit of myth that mining companies are not supporting Australian manufacturing. Well that’s not true," Walsh said.