Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.
Brazil Mining News
The firm said about 40% of its Brazilian workforce would take voluntary redundancy to reflect reduced production.
More environmentalists were murdered in Latin America in 2015 than anywhere else in the world, with anti-mining causes claiming the most lives, a report by Global Witness shows.
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.
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.
A cash-and-stock deal is said to be the favourite option at this point, though the parties are also discussing other alternatives.
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.
Chinese import volumes jumped 22% in May compared to last year giving support to iron ore price back above $50 a tonne.
CHARTS: Down 26% in a month the forward curve now points to the low $30s.
Higher gold prices will push miners to restart or speed up development of projects, leading a fresh wave of mergers and acquisitions in the country, according to BMI Research.
Federal investigators claim Vale modified official documents detailing the chemical composition and concentration of the mineral waste spilled.
There are other plays. Think electric vehicles and even driverless cars. Find what's undervalued now and get in on some of the games that will dictate glorious future wealth.
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.
For competitors S11D is a four-letter word.
The Juruena mine, in central Brazil, is estimated to hold an initial resource of 178,800 ounces of gold.
The massive Simandou project, in Guinea, is considered the world's biggest untapped iron ore deposit.
Hydro and Brazilian mining company Vale has ended negotiations on the possible acquisition of Vale's 40 % interest in Brazilian bauxite producer Mineracao Rio do Norte (MRN).
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.
Vale’s results for the first three months of 2016 makes it the best-performing major iron-ore miner so far this year.
The niobium and phosphates division, which consists of mines, plants, processing facilities, chemical complexes and deposits, was one of Anglo’s more profitable businesses.
The miner has scaled down the project and it now aim to produce 1.3 million tons of potash a year, down from the 4 million tons originally planned.