Solar and wind will end German coal long before Merkel’s deadline

The incident adds to the firm's mounting challenges, including swinging to a loss, growing debt, unplanned equipment outages and Moody’s Investors Service recent cut of the company's credit rating.

The Vancouver-based miner aims to produce 280,000 to 300,000 tonnes of the red metal a year, but commercial levels won't be reached until state power utility Zesco finish connecting the mine to the power grid.

The Northern Territory Chief Minister has threatened to close Glencore's McArthur River operation if the miner does not improve its environmental practices.

With the only exception of gold, production numbers for most other commodities mined in the Central African nation are also expected to decline this year.

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.

The verdict, however, doesn't allow the company to resume operations at its gold-copper Skouries mine.

Authorities say the $2.5 billion illicit mining industry is creating a parallel economy that is deemed to damage the business of those who operate legally.

No commodity is more exposed to China and the iron ore price is up 20% from its 2015 low. Has the steelmaking raw material become a leading indicator?