Armed group robs Mexican gold mine, flees in plane

Codelco, the world's largest copper company, is planning to reduce costs by $1 billion in 2015, as the copper price remains mired in lows not seen since recessionary 2009.

The Australian junior iron ore producer is also studying whether it needs to write down the value of any ­assets ahead of next month’s half-year result.

The firm expects production at Ferrobamba, one of the four deposits that make up Las Bambas project, to start early next year.

The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.

Another slide on Tuesday drops iron ore price 13.4% year to date, but latest forecasts see another double digit dip from current levels.

CAT keeps slashing costs as it tries to offset issues out of its control, such as the falling price for everything from iron ore to oil.

The central Africa nation may also lose its position as the continent’s top copper producer.

Down 4% to fresh five-and-half year low.

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.