Swiss miner Xstrata (LON:XTA) is delaying the commercial production of its $5.9 billion Tampakan copper-gold project in the Philippines to 2019, Sagittarius Mines Inc, the firm's local unit, said Wednesday.
Mining giants Rio Tinto and Anglo American are selling a 74.5% shareholding in the South African copper company Palabora Mining to a consortium of Chinese and South African firms, in a deal valued at about $611 million.
Glencore has extended the deadline to complete takeover of Xstrata (LON:XTA) by a month after South African power utility Eskom expressed worries about its coal supplies.
Resource nationalism is one of the main causes of the current commodity prices instability and it is threatening global security, warns London-based Chatham House in its latest report.
Whole towns were washed away or buried by landslides when Typhoon Botha smashed into a mountainous region on the southern island of Mindanao last week, leaving 548 people confirmed dead and 827 missing.