![Rio has suspended two senior executives over the Simandou payments.](/web/20161109134617im_/http://www.theage.com.au/content/dam/images/1/m/8/u/l/1/image.related.wideLandscape.460x259.gsl245.png/1478674301040.jpg)
Rio suspends executive over $13.5m Simandou payments
Global miner Rio Tinto has suspended two senior executives following the discovery of large payments to a consultant who worked on the Simandou iron ore project in Guinea.
Global miner Rio Tinto has suspended two senior executives following the discovery of large payments to a consultant who worked on the Simandou iron ore project in Guinea.
Spot metallurgical coal topped $US300 a tonne for the first time in five years.
After spending $2 billion on big new projects in Australia and the US, investors in fertilizer to explosives group Incitec Pivot may have to wait a little longer to benefit, with the focus for now on reducing debt. At the same time, the group is cool towards the uptick being seen in commodity prices,
The price of coking coal and coke, the raw materials used to make steel, surged amid tight supply.
China seeks response to "irrational" price surge amid efforts to streamline its coal industry.
Zinc retreated from a five-year high, while copper touched its highest since July.
Chinese iron ore futures climbed to their strongest level in more than two years amid firm demand.
Orica shares surge on hopes the worst is now behind it.
Former Australian Prime Minister Tony Abbott was derided for praising coal as ``good for humanity,'' given the environmental harm the fossil fuel causes. But it certainly helps our economy.
The world's biggest iron ore miners need to start spending as much as $US8 billion on new mines.
The shareholder backlash against overpaid executives has snared Borak, with investors holding more than a quarter of its capital rejecting its pay packages.
Donald Trump's improving election odds is prompting investors to seek safety in gold.
Iron ore's eye-catching rally to its April high is probably due to the weakening of the yuan.
Gold, silver and platinum rallied to one-month highs as US election worries paced equities lower.
The ovarian cancer sufferers who alleged their use of talcum powder sourced from Rio Tinto's talc mines led to their medical condition have dropped their case against the Australian mining giant.
Our addiction to mobile devices has fuelled a global boom in demand for rare earths, yet the sole Australian player in the market is awash in a sea of red.
Lithium plays may be enticing investors at the speculative end of the market, but BHP reckons copper will be a prime beneficiary of the push towards electric cars and renewable energy.
Native American leaders have vowed to protest through the winter against the $US3.8 billion Dakota Access Pipeline.
The resources industry has slammed duplication, inconsistency and uncertain timeframes in NSW's planning regime.
After 13 years of battling the Australian mining behemoths BHP Billiton and Rio Tinto, Andrew Forrest has in many respects joined their club.
Vale shares rose to a two-year high after the iron-ore miner beat analysts' earnings estimates.
BHP's chief commercial officer, Dean Dalla Valle is to leave the company at the end of March 2017. He has taken charge of the group's Samarco response
The LNP has accused the Qld government of jeopardising the multi-billion dollar Carmichael coal mine by "opening the door" to further environmental legal challenges.
Queensland's resources industry contributed $55.7 billion to the state's economy in the 2015-16 financial year, a report released by the Queensland Resources Council on Thursday showed.
The Fed will probably raise rates in December and twice more in 2017, hurting gold.
Iron ore is surging thanks to its bulk-commodity compatriot, coal.
Iron ore futures have surged as a spectacular rally in coking coal pulls steel and other raw materials in the supply chain higher.
Australia's richest woman, Gina Rinehart, on Tuesday defended her joint bid with China's Shanghai CRED Real Estate for the nation's biggest cattle empire, after it was trumped by a rival all-Australian syndicate.
Anthony Lynham says mines need to do more.
For the Brazillian iron ore giant, it's all about protecting ever-narrowing profit margins.
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