News

The newly forged iron ore-to-copper empire Glencore Xstrata was forced to slash the value of its assets by $8.5bn (£5.4bn) in the first set of results since the merger that created it.

Leading article: The real political power Down Under

The message is clear: Australian politicians tangle with the mighty national mining industry at their peril.

No agreement in talks on Australian mining tax

Talks between the Australian government and leading mining executives failed to break the deadlock over the proposed 40 per cent profits tax on the resources industry, both sides confirmed yesterday, with more negotiations now scheduled for the end of the week.

Mining industry claims triumph over Henry tax as Rudd goes

The mining industry could barely contain its collective glee yesterday as Australia's new Prime Minister, Julia Gillard, offered fresh talks on the country's proposed resources super tax, which the miners have spent millions of dollars campaigning against over the past two months.

Rio and BHP score points over Australian government with iron ore royalty deal

Rio Tinto and BHP Billiton yesterday agreed to pay Western Australia increased royalties if the companies' huge iron ore joint venture in the state is given the green light.

BHP Billiton seeks out acquisitions

BHP Billiton is looking worldwide for acquisition opportunities to take advantage of the current market weakness, the global miner's petroleum president, Michael Yeager, said yesterday.

First London bank, 'saviour' of Notts County, is wound up

The controversial boutique, which persuaded Goran Eriksson to join a League Two team, is no more

Rio Tinto shifts its stance on new tax

Rio Tinto, the mining group that analysts expect to be hardest hit by the proposed 40 per cent tax on resources groups' profits in Australia, said yesterday that it is not against a profits-based levy.

Rio Tinto chief savages Australian super tax

Rio Tinto's chief executive, Tom Albanese, broke his silence on Australia's proposed 40 per cent on profits in the mining industry yesterday, threatening to withdraw investment from the country.

David Prosser: Australia makes its assets sweat

Outlook How British politicians must envy Kevin Rudd, the Prime Minister of Australia. Every time they even hint at the possibility of higher levies on the City, the engine room of the UK economy, the banks and the hedge funds insist they'll decamp to Switzerland faster than you can say windfall tax. Mr Rudd, by contrast, knows the mining industry that he is about to hit with a 40 per cent supertax on profits can make no such threats. It must base itself where the world's minerals are to be found. For the likes of Rio Tinto and BHP Billiton, getting out of Western Australia would be unthinkable.

US corruption investigation centres on BHP Billiton

BHP Billiton became the latest mining company to be embroiled in a corruption scandal yesterday when it admitted it has been under investigation by the US Securities and Exchange Commission (SEC) since August last year.

Deripaska pledges $40m to charity

The Russian oligarch Oleg Deripaska is donating two-thirds of a $62m (£40m) bonus for the successful flotation of aluminium giant Rusal to charity. Mr Deripaska is required to hold on to the stock options for two years, but they will then be spent helping to set up service companies and industrial ventures in areas where Rusal operates. The payout drew particular attention when it was made public last week because Rusal's shares are still trading at less than the opening price at the initial public offering in Hong Kong in January, despite a 10 per cent increase in the Hang Seng index. Mr Deripaska's bonus comes on top of a $10m basic salary that dwarfs that of rivals such as Marius Kloppers at BHP Billiton. But he defended his pay packet. "Spending time in London or New York is very different to flying into Nigeria to free staff or to oversee a construction in minus 41 degrees in Siberia," he said. "It's certainly nicer to sit at home by 7pm wearing carpet slippers."

Rusal hands Deripaska $70m despite trailing share price

Oligarch nets huge bonus in middle of executive pay controversy

Vale and BHP in historic iron ore price move

Miners and steel groups agree to scrap annual pricing after decades

Brinkmanship increases over iron ore price negotiations

Iron ore producers have offered Chinese steel mills a 50 per cent hike in the price of the commodity during annual negotiations, reports in the state-owned Chinese media suggested yesterday.

Trade minister rejects plan to nationalise SA mining sector

Compensation will be paid if ANC Youth League plan is ever adopted, says Davies
Latest stories from i100
Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
3.	Provence 6 nights B&B by train from £599pp
Prices correct as of 12 March 2015
The saffron censorship that governs India: Why national pride and religious sentiment trump freedom of expression

The saffron censorship that governs India

Zareer Masani reveals why national pride and religious sentiment trump freedom of expression
Prince Charles' 'black spider' letters to be published 'within weeks'

Prince Charles' 'black spider' letters to be published 'within weeks'

Supreme Court rules Dominic Grieve's ministerial veto was invalid
Distressed Zayn Malik fans are cutting themselves - how did fandom get so dark?

How did fandom get so dark?

Grief over Zayn Malik's exit from One Direction seemed amusing until stories of mass 'cutting' emerged. Experts tell Gillian Orr the distress is real, and the girls need support
The galaxy collisions that shed light on unseen parallel Universe

The cosmic collisions that have shed light on unseen parallel Universe

Dark matter study gives scientists insight into mystery of space
The Swedes are adding a gender-neutral pronoun to their dictionary

Swedes introduce gender-neutral pronoun

Why, asks Simon Usborne, must English still struggle awkwardly with the likes of 's/he' and 'they'?
Disney's mega money-making formula: 'Human' remakes of cartoon classics are part of a lucrative, long-term creative plan

Disney's mega money-making formula

'Human' remakes of cartoon classics are part of a lucrative, long-term creative plan
Lobster has gone mainstream with supermarket bargains for £10 or less - but is it any good?

Lobster has gone mainstream

Anthea Gerrie, raised on meaty specimens from the waters around Maine, reveals how to cook up an affordable feast
Easter 2015: 14 best decorations

14 best Easter decorations

Get into the Easter spirit with our pick of accessories, ornaments and tableware
Paul Scholes column: Gareth Bale would be a perfect fit at Manchester United and could turn them into serious title contenders next season

Paul Scholes column

Gareth Bale would be a perfect fit at Manchester United and could turn them into serious title contenders next season
Inside the Kansas greenhouses where Monsanto is 'playing God' with the future of the planet

The future of GM

The greenhouses where Monsanto 'plays God' with the future of the planet
Britain's mild winters could be numbered: why global warming is leaving UK chillier

Britain's mild winters could be numbered

Gulf Stream is slowing down faster than ever, scientists say
Government gives £250,000 to Independent appeal

Government gives £250,000 to Independent appeal

Donation brings total raised by Homeless Veterans campaign to at least £1.25m
Oh dear, the most borrowed book at Bank of England library doesn't inspire confidence

The most borrowed book at Bank of England library? Oh dear

The book's fifth edition is used for Edexcel exams
Cowslips vs honeysuckle: The hunt for the UK’s favourite wildflower

Cowslips vs honeysuckle

It's the hunt for UK’s favourite wildflower
Child abuse scandal: Did a botched blackmail attempt by South African intelligence help Cyril Smith escape justice?

Did a botched blackmail attempt help Cyril Smith escape justice?

A fresh twist reveals the Liberal MP was targeted by the notorious South African intelligence agency Boss