BHP announces iron ore retrenchments on resource sector slowdown
BHP Billiton (ASX:BHP) has announced retrenchments for its iron ore operations due to tepid prices and rising costs.
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Indians switch to diamonds from gold
De Beers says the sub-continent has become the storied diamond firm's fastest-growing market as affluent Indians eschew gold in favor of precious gems.
Illegal Chinese gold mining triggers conflict in Ghana
Illegal gold mining by Chinese nationals using heavy machinery has fueled resentment and hostility amongst local communities in Ghana.
Making up for lost time, Chinese traders send iron ore soaring 6%
On Monday upbeat Chinese traders came back from a week-long break and chased the price of the commodity to $110.40.
Australia’s growth prospects downgraded by IMF on commodities dependence
The International Monetary Fund's 2013 growth forecast for Australia has been moderately reduced due to the country's significant exposure to international commodities markets.
China plans to usurp global leadership with the backing of gold: Russell
Veteran finance expert Richard Russell claims China has plans to obtain leadership of the global economy by fortifying its official currency with precious metal backing.
Indonesia threatens ‘harsh measures’ against miners who dismiss workers
Hong Kong-listed G-Resources, said it would dismiss 300 workers from its gold mine in Indonesia where work has stopped over an environmental dispute.
Kumba Iron declares force majeure in South Africa
The 40 million tonnes a year Sishen mine only has enough stockpiles for a week.
Ruling party aligned union losing grip on South Africa mining
NUM's diminishing influence – blamed in part on its political affiliations and its perceived closeness to big business – is most striking at Impala Platinum's Rustenberg mine where its enrollment has dropped to 13% from 70% before.
