Fortescue OKs $2.6B expansion of Iron Bridge magnetite project

Workers will receive the "legally mandated severance packages."

Company cites declining commodity prices and weaker currencies as part of a more challenging business environment.

VIDEO: A look at the power and politics of gold, from the Canadian Broadcasting Corporation.

John Thornton is touted for "strategy" and "global perspective"

There's always a bit of gloom alongside the boom.

To help reduce $11 billion in debts.

VIDEO: Australian miner Mutiny Gold interviewed in feature segment.

Aside from selling assets and slashing jobs, Walsh said the company will improve performance at all operations.

The country's production will approach 90 million tonnes a year by 2018.