BHP wants find a way to up output for the industrial metal from its Olympic Dam by 40% even before a proposed and long-awaited mega-expansion of the operation takes place.
BHP Billiton Mining News
China's steel association warns accumulated steel output will exceed 10 billion tonnes in 2016 as scrap prices drop below pig iron costs inside the country.
The labour action follows two other one-day protests at the mine and comes as BHP mulls a $2.2 billion investment to expand the operation.
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.
Seven trading days in and already global mining investors are nursing double digit declines as everything from copper to met coal to silver take a beating.
Strategic shift comes as the world's biggest miner tries to regain investors' confidence.
Monday mayhem as metals rally evaporates and mining's top names are dumped – Anglo's losses since a week ago now 28%, Freeport has plunged 25%.
Shares in mining giants tumble after civil suit in Brazil claims $43 billion in damages based on clean-up costs associated with BP's oil spill in the Gulf.
Civil suit demands over $2 billion upfront and also targets Brazil's federal, state governments over deadly dam burst at jointly-owned Samarco iron ore mine.
The drop comes as stockpiles in China, the world’s biggest buyer, climbed 1.2% to 98.5 million tons last week.
The spot price for benchmark 62% fines gained 8.78%, the third largest surge since iron ore pricing first began in May 2009.
This would be the first time BHP reports a annual drop in iron ore output since it completed its merger with Billiton in 2001.
More than 4% rally on Monday stops price just short of $60 on speculation BHP and Rio output will disappoint.
Both miners announce March quarterly numbers this week.
CEO Andrew Mackenzie said over the weekend "the commodities fall has stopped". Not only that – after recent rallies six are back in bull markets.
The mining giant and a security firm that guards major government buildings are among hundreds of Australian names linked to a Panama law firm that helps the rich hide money.
It has also opened offices in Belo Horizonte, which is more than 100 km (70 miles) from its Samarco interests.
New report predicts mining's majors will increasingly move away from diversification strategies to concentrate on competitiveness in certain core sectors.
Volatile metal and mining stocks enjoy another huge rally Thursday as copper jumps to four-and-a-half month high and the iron ore price surges 5.5%.
They have already taken the first steps towards resuming activity, applying for permission to use old mining pits to store tailings.
BHP has cut $130 million from this year's planned $330 million capital expenditure to develop and study the feasibility of the project.
Riding a rocketing iron ore price, market cap of Vale, Rio Tinto, BHP Billiton, Fortescue Metals and Anglo American gain a combined 54% since early February.
Iron ore giants reach deal with Brazilian government to pay $6.2 billion over several years for clean up after November's deadly tailings dam spill.
The Switzerland-based mining and energy giant lost $5 billion in 2015.
Despite the loss and a 94% drop in earnings, analysts believe the company's modest debt of $116 million makes it well-positioned to act on opportunities.