Rio board to debate CEO’s future as pressure mounts over blasts

He envisions people living in big glass-carbon fiber domes on the surface, with additional areas mined out below the surface by robots for "industrial" uses.

The investment will extend the life of the mine by eight years to 2024, in which the firm expects to produce 1.56 million ounces of gold there.

With the deal, the Swiss group is only a step away from meeting chief executive Ivan Glasenberg’s target of $5bn in assets sales this year.

Smaller rival Fortescue Metals went the opposite way — it increased iron ore exports by 5% in the Sep. quarter.

He said he had intended to announce his retirement last year but chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil.

CAT said it remains committed to existing customers.

Outside the meeting, a street theatre re-enactment of the destruction of the Doce River in Minas Gerais, Brazil, was accompanied by testimonials from frontline visitors affected by the company’s operations in Brazil, Colombia and Indonesia.

"We challenge dated stereotypes about jobs in the resources industry.”

BHP is not the first major player to flag green shoots in the mining industry. Caterpillar, the world's largest heavy machinery maker, said the same last month.