Gold's nearly $100 jump early on and copper's 4.5% meltdown split mining investors' Brexit fortunes.
Iron Ore Mining News
Gold climbs the most in eight years, while copper and oil fall.
Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.
Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.
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.
Andrew Harding, once tipped as the most likely person to take the company’s reins, is being replaced by Chris Salisbury, currently leading the copper and coal division.
30 million tonnes per year iron ore mine owned by BHP and Vale idle since November.
Despite only taking several minutes online, and costing less than the morning newspaper and cup of coffee, many Australian businesses are failing to protect their legal rights of ownership.
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.
New report shows China extracted nearly one fifth of its gold reserves last year – the global gold production to reserve ratio is only 3.8%.
Broad-based advance for mining majors as gold price touches $1,300, iron ore holds $50 and copper price surges 4%
A lithium miner joins top ranks of listed mining firms for the first time as the price of the battery ingredient skyrockets.
Companies still face another much bigger civil action over November's deadly tailings dam burst at its Samarco iron ore mine in Brazil.
Gold is up more than 20% in 2016 but gold mining equities have doubled and the sector as a whole has returned 53%.
Large mining companies are selling off some of their prized assets after the prolonged global commodities markets rout left some with high levels of debt.
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.
Canada slipped in the Fraser Institute’s global ranking, while Chile remains the most attractive jurisdiction in Latin America.
For private capital mining and metals is the riskiest natural resources sector – but only energy beats the returns.
Chinese import volumes jumped 22% in May compared to last year giving support to iron ore price back above $50 a tonne.
The country lost at least $27.5 million in revenue from lapis lazuli between 2014 and 2015. In contrast, armed groups earned about $20 million just in 2014.
Firmly back above $50 a tonne as miners' cost deflation eases.
World Bank revises down growth rate for commodity exporting countries to just 0.4%, predicts 15% decline in metal prices this year.
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.
An official endorsement of such mission would pave the way for several other for-profit space ventures currently in the works.