Australia’s Federal Government has seen sunnier days as reports revealed Thursday it has not collected any revenue in the first three months of its much-debated Minerals Resource Rent Tax (MRRT).
Australian Resources Minister Martin Ferguson says the onset of an era of low commodities prices does not spell the end of the country's China-backed mining boom.
Brazilian mining giant Vale (NYSE:VALE) is expected to log a year-on-year Q3 profit decline of 61% due to this year's precipitous dive in iron ore prices.
Rio Tinto's auction of a fresh set of multi-hued diamonds from its Argyle mine in Australia have elicited strong competition amongst bidders hailing from both Asia and Europe.