Progress at BHP project in Saskatchewan only 14% closer to completion after a year's work.
BHP Billiton Mining News
It produced 86.82 million tonnes of iron ore in the April-to-June period, down 2.8% from a year earlier.
World's top miner expects to produce 1.7 million tonnes in 2017 as output at giant Escondida mine jumps 9%.
Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.
Analysts see the long-awaited deal to sell potash to Chinese buyers as good news for the beleaguered sector, even though the agreed price is dramatically lower than last year’s.
The firm said about 40% of its Brazilian workforce would take voluntary redundancy to reflect reduced production.
Red metal production at the copper-uranium mine is expected to hit around 230,000 tonnes by 2021, but there is potential for up to 450,000 tonnes per year.
With the expansion, Escondida is targeting an average output of 1.2 million tonnes a year over the next decade, up from about 940,000 tonnes it produced last year.
BHP has been developing its own Canadian potash mine — the Jansen project — in Potash Corp's backyard, and has already invested about $3.8 billion on it.
Chile’s Escondida produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015.
Iron ore advanced to a 5-week high of $53.40 on Tuesday, but analysts see steep decline in the final quarter of 2016.
It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.
Gold's nearly $100 jump early on and copper's 4.5% meltdown split mining investors' Brexit fortunes.
Belarus has said it might cooperate with Uralkali, in the first sign the two sides might work together since the Russian potash producer broke off their business alliance in 2013.
Chief executive Andrew Mackenzie believes the iron ore market will take longer to balance out than other commodities due to an excess of supply coming on stream in the next few years.
30 million tonnes per year iron ore mine owned by BHP and Vale idle since November.
Vale-BHP joint venture was shut after deadly dam spill in November – Samarco produced a fifth of global seaborne iron ore pellets supply before the disaster.
Companies still face another much bigger civil action over November's deadly tailings dam burst at its Samarco iron ore mine in Brazil.
Eight executives will also face charges, although the police did not disclose their names.
Number three iron ore miner looking at options to replace 80 million tonnes capacity on its way to 290 million tonnes annually.
Capital spending by the world's largest miners since 2010 amounted to $632 billion – 32% of which has now been written off says new report.
Sirius' mine, located beneath a U.K. national park, is set to generate an initial 10 million tonnes per year of polyhalite – a form of potash.
Federal investigators claim Vale modified official documents detailing the chemical composition and concentration of the mineral waste spilled.
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.
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.