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The miner, which began the year with an over $13 billion debt, has vowed to reduce the hefty figure by $3 billion before the end of 2015.

The $4.4 billion deal involved international financial institutions and export credit agencies representing the governments of the U.S., Canada and Australia, along with 15 commercial banks.

The Canadian Mining Eye index declined 17% during Q3 2015, compared to a 4% gain in Q2 2015.

The agreement, which is said to involve up to 15 banks, could be signed as early as Wednesday.

Canada’s Ultra-Deep Mining Network (UDMN) continues to make strides in solving the challenges that impact resource extraction in ultra-deep (below 2.5km) environments launching new Call for Proposals and Network Members share the stage highlighting their innovative solutions and commercially viable products.

Chief executive Nelson Pizarro said output will, however, remain untouched.

an Ball brings us Abitibi Royalty Search, an online platform where mining companies in need of financing can easily submit geological data on their projects for consideration.

This morning, the company announced it has picked up three large exploration projects in the Golden Triangle region of northwestern British Columbia.

Ultimately the widespread selling is evidence of investors’ revulsion for a sector that has struggled with falling prices for four years and has demonstrated no clear schedule for a recovery.