The June-balance profit reporting season gains pace this week, with key results from the mining, infrastructure, healthcare and education sectors giving an early steer on current-year sentiment and the impact of the heady Australian dollar.

The Australian stockmarket remained firm by early afternoon, despite the failure by the US to resolve its debt-ceiling stalemate.

Beijing has issued a veiled threat to Australia's long-term economic future. It has vowed to break the power of the big mining companies by sourcing 50 per cent of its iron ore imports from Chinese-invested companies.

The largest union at Chile's Escondida copper mine has voted to "indefinitely" extend a strike at the mine, which is controlled by BHP Billiton. Members of the 2350-strong Escondida Mine Workers Union No 1 "unanimously voted" to extend the work stoppage, which began on Thursday night and was initially planned to end 24 hours later at 8pm on Friday, union leader Jose Vidal said.

David Knox, Santos chief executive, says the expected skills shortage has not yet affected his company. Picture: Calum Robertson Source: News Limited SANTOS chief executive David Knox, whose company is building one of the three $15 billion-plus coal-seam

Copper and gold miner OZ Minerals will return up to $200 million to shareholders through an on-market buyback, as booming prices for its products continue to generate cash. Photo of copper concentrates being loaded, by OZ Minerals.

ANDREW "Twiggy" Forrest, one of Australia's richest men and a champion of the fight against indigenous disadvantage, is being accused of ripping off traditional owners in a West Australian iron ore royalties deal. The mining magnate wants to develop

In 1951, US president Harry Truman fired General Douglas MacArthur at the height of the Korean War. Today, Peabody Energy and Arcelor Mittal officially begin the campaign – codenamed Project Truman in a nod to US military history– to take over Macarthur Coal. The critical question is: are there any rival bidders in the wings?

Gold climbed for a second day today as investors sought a safe place to park cash due to uncertainty about Europe's debt woes and the pace of growth in China and the US. The most actively traded gold contract, for August delivery, settled up $US16.50.

FOR some, the Bre-X gold fraud scandal of the 1990s wasn't all bad. Before the addition of scrapings of gold jewellery to assays from the Canadian company's Indonesian deposit was uncovered, the alleged high-grade drill results sent scores of geologists trudging over the country in search of similar deposits.

BHP Billiton could be set to announce another share buyback, after the successful completion of its $US10 billion ($9.3bn) capital management program. UBS analyst Glyn Lawcock said a renewed capital management plan from the diversified miner was imminent and he was expecting BHP to announce another buyback at its half-year results on August 24.

The proposed Oakajee project port facility site near Geraldton, WA. Source: The Australian VETERAN businessman Ken Court would love to be back at the centre of the decades-long dream to build a deepwater port at Oakajee, a vacant piece of coastline north