Diamond prices increased 20 per cent in 2011 on the back of Asian demand.

THE Olympic Dam expansion must maximise benefits for every South Australian, Premier Jay Weatherill has told BHP's chief executive Marius Kloppers.

Fortescue Metals Group has almost doubled its full year net profit to $US1.02 billion ($A984.7 million) and declared its maiden final dividend amid strong iron ore demand.

The Greens' push to shut down the coal industry could severely undermine the nation's economy and sacrifice 200,000 jobs, new economic modelling warns. As the party takes to Federal Parliament today with unprecedented numbers and wielding the balance of power in the Senate, fresh research finds that leader Bob Brown's policy to phase out coal mining would slash GDP by up to $36 billion a year.

THE Queensland Government will call an open tender for the development of Aurukun's bauxite resources, snubbing the giant Chinese company Chalco.