4 charts that say this time the copper price surge could last

Costs and challenges for mining the Arctic, meanwhile, on their way up.

Sources close to X2 Resources, Davis' new company, have cast doubts on reports that the firm had made an offer.

About 500 workers will lose their job.

According to The Times, Rio flagged the possibility of a writedown in August.

The miner blamed low metals prices and productivity inefficiencies for the decision.

Woo served as a U.S. State Department representative in Asia for about 15 years with postings in countries including China, Japan and Australia.

The affected company is Planetary Resources, the U.S.-based start-up aiming to mine asteroids.

Instead of paying for mine equipment and services, the former project director sent the money to private bank accounts in Barbados and London.

Members of the World Gold Council spent last year a total of $47 billion in countries hosting their mining operations.