Iluka Resources said it will cease production in zircon operation at Jacinth-Ambrosia project in South Australia following fall in zircon prices. The company's decision will positively impact the global market.
South32 is to reduce asset's book value of $1.7 billion, decrease expenses and trim production. The plan will include the cut of around 620 jobs and the reducing of Manganese production in South Africa.
BHP Billiton's shareholders are expected to approve the biggest ever spin-off in the mining industry on Wednesday, seeking to wring more value out of a string of long-neglected aluminum, manganese, silver and nickel assets.
BHP Billiton has put far less debt than expected into its $13 billion South32 spin-off, positioning the company formed from its unloved assets to weather tough markets and still pay a dividend.
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