Shandong increases offer price for Cardinal Resources

According to the company, the mine will employ about 1,800 workers during construction and generate 1,000 permanent jobs once opened.

The bonds are expected to be listed on The Stock Exchange of Hong Kong Limited tomorrow.

In the first half of 2014, the country’s coal imports grew just 0.9%, compared with 13.3% a year earlier.

As BHP considers the sale of almost all of the businesses that Billiton brought to the 2001 merger deal, experts say the firm is likely to end up leaving London.

This is the first time China enforces the use of clean coal, and it follows a series other pollution-curbing measures.

Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.

Billionaire Andrew Forrest, who made his fortune as the driving force behind Fortescue, says high cost competitors will exit the market shortly.

Production ramp-up comes despite price plunge earlier this year.

A majority of Canadians overestimate the contribution the oil sands make to the world’s 11th largest economy, a study published Friday reveals.