The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.
Chief Executive Lourenco Goncalves said restructuring proceedings have begun in Montreal and sale options will be explored.
Another slide on Tuesday drops iron ore price 13.4% year to date, but latest forecasts see another double digit dip from current levels.
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.
It also said it has reduced its net debt balance by more than $400 million.
Heavy selling across the board as commodities reach fresh multi-year lows, forecasts are slashed and weakness returns to precious metals.
The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.
The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.
Organization predicts a rare occurrence in 2015: a decline in all nine commodity indices with industrial metals falling another 5%; precious metals down 3%.
Geology consultants leading the project found the rare earth claim has the highest range of rare earth metals in Peru.
December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.
New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.
World number one miner BHP Billiton achieved record production for eight operations and five commodities over the last six months.
The global miner and commodities has estimated spending on oil projects for this year and next of $2 billion and $1 billion on coal expansions.
The world’s second largest iron ore miner is targeting a 18% output increase this year, adding to a mounting global glut that has driven down the commodity price.
The assets include the coal mines of Berezovskaya and Pervomaskaya, which together produce 700,000 tonnes of coal a year.
Next round of displacements will come from mines "that just 18 months ago could have been making $50/mt or more in cash margin" says new report.
A mineral exploration company faced an unusual situation recently, when Ontario mining officials enforced foreign orders against mining claims for which the company had recorded its interest.
Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.
An environmental group is attempting to radically change the way mining projects are assessed with a court case involving Adani's controversial coal mining complex in Queensland.
The 56 year old who built Xstrata into one of the world’s biggest mining firms and then sold it to Glencore, is tipped to be on the verge of landing his first big fish.
Dozens of mines closed last year but another 175 million tonnes will have to drop out to neutralize 2015 output growth, which unlike copper is de-risked.
The report, based on responses from 108 buyers and decision-makers across 100 mines in 16 African countries, shows most plan to acquire equipment and maintenance services.
Quebec's highest court has refused to hear an appeal of a last year judgment that rejected a motion to dismiss the millionaire lawsuit against the miner's Iron Ore Co. of Canada (IOC).
Still minuscule compared to China, but the subcontinent is now a net importer compared to shipments of 120 million tonnes per year before.
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