Western Australia is world’s new top mining destination

The Cdn$240 million deal is expected to close in late April.

The layoffs may increase to 1,800 if the metal prices don’t recover soon, said the company.

Mining supply returns to pre-strike level but recycling falls.

The Switzerland-based mining and energy giant lost $5 billion in 2015.

As a country, however, Canada is falling out of favour.

Combined output topped 30 million ounces in 2015.

Endeavour has sold its Youga mine to privately-held MNG Gold for US$25.3 million.

Affected companies are said to be looking for a way out of the situation, which includes legal actions or even international arbitration.

The update comes as the world's top diamond producer revealed the results of its prospecting and geologic exploration carried out last year