Rio Tinto closes Argyle diamond mine after 37 years

The latest chapter in the Simandou case.

They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.

But market was in small deficit according to study.

Up another 5% on Thursday – stones throw away from all-time high.

With the Foreign Investment Review Board’s approval, Rio Tinto is a step closer to fully exit thermal coal.

Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.

The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.

Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.

Coking coal price has doubled in two weeks – storm damage to rail lines could affect Australian exports for another four weeks.