Australia cobalt sector set for long-term growth – report

Global silver production dropped last year for the first time since 2002 driven by lower by-product output from the lead/zinc and gold sectors, as well as a sharp decline of scrap supply to the market.

Workers temporarily blocked access roads to the site in protest for the decision, which they say will inevitably bring a massive wave of layoffs.

Market rumours point at South32 as the most likely buyer, since the miner decided last month to ditch its $200 million acquisition of Peabody Energy’s coal mine in New South Wales.

Chinese steelmakers overestimated impact of Australian cyclone and the market is now awash in met coal.

Investors in a small-cap junior focused on the mining of a lesser-known element - scandium - were rewarded on Friday after a favourable decision from the New South Wales government in Australia.

And why the worst may be over already.

They fear the buyer, Malabar Coal, may revive mining at Drayton, which they claim would have have severe impacts on the area’s profitable stud farms and wineries.

The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.

It’s been a bad week for iron ore, with all indices steeply lower on Friday for a second consecutive day.