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

"Global economic markets have shifted to a period of significant uncertainty and we continue to see both a sustained upward pressure on costs and long timeframes for regulatory approvals."

CST Mining is selling its 70% stake in the Mina Justa copper project in Peru for US$505 million.

Billionaire Australian Gina Rinehart, is taking Rio Tinto to court, demanding the world's third largest miner pay her 2.5% of the income streams from iron ore production at the Channar and Eastern Ranges mines on top of the royalties from three other Pilbara properties she is already receiving.

World number one miner BHP Billiton on Monday bought five additional exploration plots near its giant Olympic Dam mine and expansion project, destined to become the world's largest open pit.

A South Korean conglomerate has cited global economic uncertain as a key reason for pulling out of a US$324 million deal with Australia-based Cockatoo Coal.

Sunday Times (paywall) reports that collapsing natural gas prices will probably cost mining giant BHP Billiton upwards of $5 billion in writedowns.

The key policy maker behind a drive to impose a 25% tax on Indonesia's mining exports passed away unexpectedly on Saturday.

Diversified miner BHP Billiton (NYSE:RIO) today became the third iron giant to join the new China Beijing Metals Exchange (CBMX), only a few days after competitors Vale (NYSE:VALE) and Rio Tinto (NYSE:RIO) did the same.

Brazil's aluminum output in March went up 3.7% to 125,000 tonnes, according to the national aluminum association, Abal.