“The decision was driven by unsustainable cash outflows at the mine due to the concentrate ban and the operating environment,” company officials said in a statement.
Prices for iron ore and coking coal, the two key ingredients for steelmaking, are set to remain buoyant for the remainder of the year, Macquarie Bank predicted in a recent report.
Western Canada's conventional energy producers are looking to step out of the long shadow cast by the oil-sands sector to tout the economic and environmental benefits of light oil and natural gas development.
South Korea’s SK Innovation said on Thursday it has started commercial production of lithium-ion batteries with an increased portion of nickel, while reducing the usage of expensive components such as cobalt to extend battery life and cut costs.