Asia Pacific

Rio Tinto to close Queensland coal mine if extension gets rejected   Mining giant Rio Tinto (ASX:RIO) will have to close its Kestrel coal mine in Queensland, Australia, unless the government approves a long-sought extension request. The operation, Rio's only underground coal mine, was granted an expansion permit in 2013,…
The stock was down more than 7% to $2.50 at 11:30 am ET, as the company added that most of the 540 Northshore employees in Silver Bay, Minnesota, will be laid off, maintenance crews excepted, because of high inventory levels and the continued flood of cheap steel imports to the…
Sumitomo Metal Mining is looking to snap up stakes in copper and gold mines, taking advantage of its sound finances and a slump in commodity prices to bolster future growth, its president said. "We have a perfect opportunity now to make use of strength and pursue good deals that would…
It's been a brutal November on copper markets with a only one up day of trading since the start of the month. Just over the last week the price has fallen more than 7%. In New York on Wednesday the copper price dropped to a low of $2.0670 or $4,560…
Indonesia probing allegations of extortion to Freeport-McMoRan by senior officialsFreeport McMoRan Copper and Gold's Grasberg mine is the world's largest gold mine and third largest copper mine. Indonesia has began investigating claims that senior officials demanded to be granted a 20% stake in Freeport-McMoRan Indonesia in return for an extension…
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