About 500 workers will lose their job.
The miner blamed low metals prices and productivity inefficiencies for the decision.
While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.
Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.
The affected company is Planetary Resources, the U.S.-based start-up aiming to mine asteroids.
China imposes strict pollution controls ahead of Beijing APEC summit forcing steel mills to cut output.
The country's ultimate purpose is to extract rare earth elements, breaking China's dominance and pushing prices down.
Once again Cutifani delivers — freight from Minas-Rio leaves for China by year-end and within the latest estimated budget.
The world’s biggest miner unveiled details about how it expects to meet cost-reduction and productivity improvement targets.
The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.
Resource scarcity and human rights issues surrounding metals extraction, coupled with unrelenting global demand mean the industry is facing some tough realities.
Ontario’s “Ring of Fire” mineral belt was supposed to be a $60-billion natural resources treasure trove that would bring employment and economic prosperity to a remote part of the province’s north. It hasn’t worked out that way.
Frank Timis has got $20 million to acquire the mine bordering its own iron ore project Tonkolili.
Petroleum, met coal, iron ore production set new quarterly records. Fall in copper volumes not enough to dent 9% overall output growth.
Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.
Warning, the extension looks great but it is not conducive to productivity.
The country is fine-tuning details of a new mining law that will make it easier for foreigners to tap the nation’s riches.
The central empowered committee (CEC), constituted by the Supreme Court, has called the relationship between Sharda Mines (P) Ltd (SMPL) and Jindal Steel and Power Ltd (JSPL) unholy and illegal.
The miner said the move was driven by its revised pricing outlook and adverse market conditions.
Big three successfully defending their oligopoly says new report.
Bankrupt London Mining's Marampa mine in Sierra Leone hit by iron ore price falls, slow ramp up and viral outbreak.
Those calling a market bottom after Monday's surge and Chinese import gains may have been premature.
Ex-billionaire Eike Batista’s main mining unit became the third of his companies to file for bankruptcy protection in a year.
The mining giant has made a sharp U-turn on its initial decision to snub a London listing for its $17 billion spinoff.
And the rapid fall in the iron ore price, the Sierra Leone miner's dispute with Glencore and the slow rampup. But especially Ebola.
New research shows inland Chinese steel mills pay a 35% premium over seaborne benchmark with 210mt of steel capacity potentially looking for alternatives.
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