As 85% of Chinese thermal coal producers and 35% of miners focused on the metallurgical kind are now running at a loss.
It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.
The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.
Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.
Negotiations between the parties, still at an early stage, are said to have generated solid interest from both sides.
The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.
Swiss-based mining giant Glencore says it will pay a new entity within its global chain to market and distribute its coal as it moves to close its Singapore office.
The move may create a group of sellers that want to dispose of their holding, or it could open the door to a buyer, according to analysts.
The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.
Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.
The World Coal Association's chairman and Glencore executive, Mick Buffier, has called governments to increase investment in low emission technologies.
One-quarter of the company's workforce.
A total of 60 banks committed to the financing, including 34 mandated lead arrangers and bookrunners.
Main power utility, Eskom, is struggling to meet demand in a country that depends on coal to generate 85% of its electricity.
Much of the overall decline in reported gold output was due to a significant quarter-on-quarter production declines from AngloGold Ashanti, Goldcorp, and Sibanye Gold.
The commodity and mining firm is battling activists who allege its Colombian coal mines have whisked profits out of the country, while causing environmental and labor issues.
Ivan Glasenberg has once again slammed his competitors, who he accuses of damaging the credibility of the mining industry.
CEO Andrew Mackenzie announced the firm would cut capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.
The monthly global average concentration of CO2 in March was the highest since scientists began tracking this greenhouse gas in the global atmosphere.
The company's shares have lost over 40% of their value since it first listed in 2011 on the London Stock Exchange.
If the miner buys any assets this year, it would be Rio's first acquisition in about three years.
Chief executive Ivan Glasenberg said growing demand for cheap energy will secure demand for coal.
The announced changes will be effective on July 1, once parliament has approved them.
The government intends to set its mining royalties at 9% for both open-pit and underground mines.
On the last of a three-day national hearing, BHP and Rio acknowledged they were in ongoing discussions with auditors from the Australian tax authority.
This wouldn’t be the first time Hockey hinders a major corporate deal in Australia.
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