Iron ore is veering to a new crisis as prices for future delivery of the commodity slid 30 per cent in the space of a month, and its outlook is now more bearish than oil and more dire than ever for miners struggling to just stay in business.
Miner Gem Diamonds expects firm prices this year after they rose at its first auction of 2015 last week as Dubai banks help fill a funding gap for manufacturers, chief executive Clifford Elphick said on Monday.
Diamond prices weak
Sharp increases in mining costs mean gold will need to reach $3,000 an ounce in five years for the industry to stay profitable, World Gold Council chief executive Aram Shishmanian said on Monday.
Miners currently needed a gold price of $1,
All 29 miners trapped underground in a New Zealand mine for five days are believed to be dead following a second explosion in the Pike River Coal mine, police said on Wednesday.
'It is our belief that no one has surv
Around 1,250 miners remained trapped more than a mile underground in a South African gold mine on Thursday after an all-night rescue mission.
Up to 200 women were among those stuck in a cramped space in the Elandsrand mine where temperatur