Rio Tinto to proceed with $2.6B iron ore mine in Western Australia

Xstrata Coal (LON:XTA) began to reduce its workforce across its Australian coal operations by firing its first 40 permanent employees out of the 600 announced cuts.

The Queensland government's decision to auction licenses for oil, coal and gas exploration has triggered widespread complaint within the mining sector of the Australian tropical state.

Rio Tinto (ASX:RIO) has announced further retrenchments and cost cutting measures due to concerns that the slowdown in China's economic growth will be more pronounced than expected.

BHP Billiton sold Tuesday A$1 billion ($1.02 billion) of bonds in its first offering of debt in the Aussie market in more than a decade, as the company announces cutbacks at its iron ore mines.

BHP Billiton (ASX:BHP) has announced retrenchments for its iron ore operations due to tepid prices and rising costs.

The International Monetary Fund's 2013 growth forecast for Australia has been moderately reduced due to the country's significant exposure to international commodities markets.

Aussie iron ore miner and steelmaker Arrium (ASX:ARI) has stated publicly that it spurned a $1 billion takeover bid from a Korean consortium due to expectations of a rebound in iron ore prices.

IBM is ramping up its provision of services and equipment to the Australian resources sector as rising costs compel miners to seek to cheaper and more efficient operating methods.

West Africa could become the next hot spot for iron ore due to its untapped bounty of the key steel-making ingredient.