Nathan Tinkler's fortune has plunged by over 50% since last year causing the electrician-turned-mining magnate to tumble to second place on a list of Australia's richest young entrepreneurs.
The scions of two of Australia's leading mining dynasties are waging battle in court once again, this time over ownership of the Hope Downs iron ore deposits in Western Australia's mineral-rich Pilbara.
Lundin Mining Corporation (TSX:LUN) shed more than 3% on Wednesday after announcing that it does not intend to exercise its $80 million option to acquire 80% of a copper project in northern Spain.
Belo Sun's biggest challenge may not be convincing the indigenous Xingu people or Norte Energia, the owners of the Belo Monte hydroelectric project, that the gold mine is in their best interest.