Anglo-Australian mining giant Rio Tinto has admitted damaging ancient Aboriginal rock shelters in the remote Pilbara region in Australia, blasting near the 46,000-year-old heritage site to expand an iron ore mine.
Britain's Ambassador to Peru Kate Harrisson Thursday highlighted that the United Kingdom is currently the biggest foreign investor in the Andean country, thanks to the sizeable mining projects currently under way.
Shares in some of the world's biggest mining companies have been hit by a slump in the price of iron ore, amid fears of a slowdown in China's economy. Iron ore delivered into China fell 8.3% on Monday after Beijing reported weak export data over the weekend.
Brazil’s Bovespa-index futures declined with the equity gauge poised for its biggest monthly drop since May, after iron-ore producer Vale SA posted a record loss in the fourth quarter.
China banned a giant new class of ship from its ports on Tuesday, a move that checks efforts by mining giant Vale SA to cut the cost of shipping iron ore to its largest market and risks raising trade tensions with Brazil.
China, the world's largest steelmaker and iron ore consumer, has set a target of dramatically increasing ore imports from Chinese-invested resources in the steel industry's 12th Five-Year Plan (2011-2015), an industry official said.
The giant miner BHP Billiton announced this week a 129% increase in the mineral resource at and around Chile’s Escondida, the world's biggest copper mine.
Brazilian mining giant and the world’s largest iron- ore producer Vale SA said its fourth-quarter profit almost quadrupled, because of surging prices for the raw material used to make steel.
Anglo Australian mining giant BHP Billiton chief executive Marius Kloppers confirmed reports that he is fearful of espionage from China, competitors like Rio Tinto and the Australian government, saying it is one reason why he lobbied furiously for short-term pricing of key commodities.