The lithium price bulls were right

The head of Rio Tinto's (ASE:RIO) iron ore business in Western Australia has expressed optimism about the sector's prospects despite a plunge in spot prices this year and concerns over China's growth.

Australian iron ore titan Fortescue Metals Group (ASE:FMG) has increased the size of its credit facility by USD$500 million.

While big miners such as BHP (NYSE:BHP), Xstrata (LON:XTA) and Vale (NYSE:VALE) continue to slash jobs across its operations in Australia, some companies are hiring more foreign workers to carry out their resources projects.

Analysts say more coal jobs will be axed in the Australian tropical state of Queensland as the beleaguered resources sector continues to weather a barrage of adverse factors.

Africa-focused copper miner Discovery Metals (ASX:DML) has rejected a bid from Shanghai's Cathay Fortune on the grounds that the proposed AUD$830 million consideration is insufficient.

Andrew "Twiggy" Forrest, the founder and chairman of Aussie iron ore stalwart Fortescue Metals Group (ASX:FMG) has issued a thinly-veiled attack against fellow mining magnate Gina Rinehart for inheriting her wealth.

A recent plunge in Fortescue Metals' (ASE:FMG) shares has left the pockets of its best paid executive AUD$35 million lighter.

The Western Australian government has issued a key approval for Toro Energy's Wiluna uranium project, bringing the proposed mine a large margin nearer to completion.

Production at Rio Tinto's (ASX:RIO) Argyle mine in Western Australia's Kimberley region will soon come to an end as its rare deposits of pink diamonds approach exhaustion.