China targets Australia barley, but what matters is coal, LNG, iron ore

The miner is likely to cut its iron ore output target for the year from 376 million tonnes to 355 mt, says independent investment bank BTG Pactual.

Study shows copper price fall matches previous down-cycles going back to 1975, but expect a long painful slog before a sustained recovery.

Chorus predicting iron ore in the $30s before the end of the year grow louder as Chinese buying dries up.

The news came as the price of iron ore continues its month-long retreat, diving to a fresh 10-year low Tuesday to $43.69, according to The Metal Bulletin index.

The ongoing slump in copper prices spells trouble for Chile's mining industry, where most medium-sized producers are already unable to make a profit.

"Prices must overshoot relative to marginal production costs in order to trigger mine closures on a sufficient scale."

Its Damang mine in Ghana is struggling with current gold prices, the firm said.

“The floor of this market is in the hands of the top five mining companies."

The move will help the cash-strapped coal and iron ore miner to continue operating for the short term.