Australia has surpassed China as the largest gold producer for the first half of the year due to higher output from the country’s major miners, according to Surbiton Associates.
Lower steel margins and strict production controls in China are driving down iron ore prices, according to a report by CRU Insight.
The iron ore price has continued to falter in August after dropping to below $US130 ($180) per tonne last Thursday.
Mineral Resources has delivered its highest-ever earnings in the 2020-21 financial year and remains confident of continued growth despite COVID-19 challenges.
South32 is anticipating that its operating costs for metallurgical coal will be “moderately higher” for the 2021 financial year than its guidance of $US83 ($113) per tonne.
Wood Mackenzie has forecast that lower Chinese demand will be the driving factor that causes iron ore prices to decrease by more than 10 per cent in the coming months.