Glencore's boss has consistently spanked his competitors for wasting and ultimately popping the now deflated long resources boom through a suicidal splurge on growth that took no account of demand and pricing.
Rio sources say 44-year-old French executive's command of operational and financial detail were important factor in appointment.
The Chilean government has removed BHP Billiton's US$4 billion Spence copper expansion project from its 10-year development timeline, saying it expects the world's largest miner will miss its targeted deadline of first production by 2020.
A few years ago London's precious metals traders would arrive at their desks to find the phones flashing. On the other end of the line were rival banks looking to buy and sell gold. Today the trading floors are a lot quieter.
Arrium chief executive Geoff Plummer has defended the company’s rejection of a $1 billion Korea-backed takeover bid, arguing a doubling of production at its iron ore mines in South Australia will provide a buffer against falling commodity prices and the company’s $2 billion debt.
BHP Billiton has taken the axe to another project at Port Hedland, dealing a fresh blow to listed contractor NRW Holdings.
BHP Billiton's assertion that West Africa was unlikely to emerge as a key source of the world's iron ore has been challenged by a London-based investment bank behind a number of deals in the region.
Rio Tinto chief executive Tom Albanese has moved to assure Australian investors that the miner will not over-commit its expansion spending to iron ore but news from London highlights the difficulty the company may face responding to various pressures.
Influential shareholders in Coal of Queensland will take court action today as part of a dispute over whether they should be allowed to buy a large part of the company at a big discount to its estimated value.
Mining companies already under pressure from rising costs, a high Australian dollar and falling metals prices fear the potential removal of $2 billion in diesel fuel subsidies could have severe consequences.
China's Yanzhou Coal is forecasting sales volumes will this year rise 23 per cent at its Yancoal Australia unit, which is poised for a merger with Gloucester Coal to form an $8 billion locally listed company.
Australia's largest environmental lobbies are turning the heat on Liberal National Party (LNP) leader Campbell Newman to stop a Clive Palmer mining project.
Zimbabwe has ordered foreign mining firms to deposit their export earnings with local banks, as the embattled countryâs government tries to address the dollar crunch afflicting its economy.
BHP Billiton is “rapidly spending” the $1.2 billion it promised the South Australian government it would invest in the leadup to the mining giant's decision on whether to proceed with the expansion of the Olympic Dam mine, says Premier Jay Weatherill.
Analysts have warned that coal prices could spike as Queensland producers batten down the hatches for a fresh spate of heavy rains.
Harry Winston Diamond Corp has “some interest” in purchasing BHP Billiton’s Ekati diamond mine in northern Canada.