December 16, 2015

Joy Global swings to loss, cuts dividend

The mining equipment maker said business conditions continue to be tough mostly due to a slower-than-expected recovery in the global economy and weak commodity prices.

December 15, 2015

The Chinese scramble to mine Africa

25-fold investment jump in less than a decade. That's how fast China's gaining control over Africa’s mining industry. And Beijing's only pushing harder now. 

December 13, 2015

Falling Chinese steel demand means more bad news for iron ore

The pain for iron ore producers is not expected to let up anytime soon, as numbers out of China indicate that steel demand is dropping.

December 10, 2015

China takes a big step forward

On November 30th the International Monetary Fund (IMF) announced that it would admit China's Renminbi currency, commonly known as the Yuan, to the select basket of reserve currencies that make…

December 9, 2015

US coal industry on board ‘slow-motion train wreck’— report

Analysts from McKinsey and Co. warn the U.S. is currently home to a collection of “zombie mines” that cannot turn a profit, but are too costly to close.

December 8, 2015

Chinese commodity demand: Crisis. What crisis?

In volume terms Chinese imports of commodities led by iron ore and copper surged 17% in November, the best month in nearly two years.

December 8, 2015

Rio Tinto axes spending forecast by $1.5 billion

Once again the world's second largest mining company has cut its spending forecast for 2016, as iron ore hit new lows.

December 7, 2015

Glencore axes jobs, coal output at Australia’s mine as price collapses

The company will start cutting nearly 80% of its workforce at its Collinsville coal mine in March next year, as it dials back mining at the site.

December 4, 2015

Down again: iron ore sinks below $40 a tonne

It hit $39.40 a tonne, the lowest price ever recorded by price assessor The Steel Index (TSI), which began compiling data in 2008.

December 4, 2015

China’s steel giants lost $11 billion in first 10 months of 2015

That is more than double the profits reaped in 2014.