Lithium producers hit by first big downturn of electric vehicle era

After flirting with a five-year low for about a month, the iron ore price fell to the lowest price since October 2009.

The decision is considered a key political victory for Prime Minister Tony Abbott.

Vast stretches of northern Europe’s wilderness will soon host more mining companies going ahead with several projects in the area.

Following a meeting with BHP’s China boss, Beijing issued a statement saying it believed that “BHP and other iron ore suppliers should avoid abusing dominant market positions."

When Australia's richest person launched the ambitious $10 billion, 55m tonnes a year project iron ore was trading at more than $130 a tonne.

With bondholders facing possibility of default, Australia's St Barbara needs a quick "win-win" exit from its Solomon Islands gold mine taken over by illegal miners.

Monthly loss up to 8.4%

The iron ore-rich state is the latest of Australia's debt-laden regional governments to announce a selloff of state-owned infrastructure.

If the steel-making material loses another $2 a tonne, it will be the lowest since October 2009.