Japan's top steelmaker said it will spend around C$1.5 billion to buy a 10% stake in Elk Valley Resources.

The industry's confidence in a long and prosperous future stands in contrast to India's commitment to "phase down" coal-fired power generation.

Hindustan Zinc stocks have fallen since the proposal to buy two Vendata subsidiaries.

This process would also include new concession areas targeting commodities like chromite, copper, limestone and others.

Freeport was forced to stop operation at its flagship mine in February after heavy rain and mud flows damaged the facilities.

Supply remained relatively tight and demand will be supported by the pick-up in downstream steel demand, analysts say.

Company will focus on getting its Kalgoorlie plant operational amid concerns its Malaysian facility will have to be partly wound down.

Indonesia's energy company Medco Energi Internasional owns a 23.1% stake in the company.