Mining giants Rio Tinto and BHP Billiton have agreed a joint venture covering their iron ore operations in Western Australia in a deal expected to save the firms at least $US10 billion.
The deal will see BHP Billiton pay Rio Tinto $US5.8 billion to equalise their stakes in the joint venture and take BHP’s stake [...]

Global miners Rio Tinto (RIO.AX) (RIO.L) and BHP Billiton (BHP.AX) said on Friday they will combine their major Australian iron ore operations, scuppering a $19.5 billion (12 billion pound) bid by China’s Chinalco to secure a stake in Rio and long-term access to its key ore supplies.
BHP (BLT.L) and Rio, the world’s second [...]

Global miners Rio Tinto (RIO.AX) (RIO.L) and BHP Billiton (BHP.AX) said on Friday they will combine their major Australian iron ore operations, scuppering a $19.5 billion bid by China’s Chinalco to secure a stake in Rio and long-term access to its key ore supplies.
BHP (BLT.L) and Rio, the world’s second and third largest [...]

AUSTRALIAN stocks opened higher on Friday, led by BHP’s strong surge following a joint venture deal with Rio Tinto.
At 1015 AEST, the benchmark S&P/ASX200 was up 41.7 points, or 1.06 per cent, at 3976.3, while the broader All Ordinaries gained 42.2 points, or 1.07 per cent, to 3974.7 points.
On the Sydney Futures Exchange, [...]

Reserve Bank of Australia (RBA) governor Glenn Stevens has reiterated that the central bank remains prepared to cut interest rates further to help secure a "durable upswing" in the economy.
Mr Stevens says the Australian economy is well-placed for expansion toward the end of this year, with the recovery expected to be fairly gradual and [...]

Rio Tinto PLC said Thursday it is "pursuing a range of options" to shore up its debt-laden balance sheet amid growing speculation that the Anglo-Australian mining company is going to walk away from a $US19.5 billion ($A24.37 billion) deal with China’s Chinalco.
Shares in Rio Tinto dropped 7 per cent in London trade on the [...]

Norton Gold Fields has commenced development of underground operations at its Paddington open-cut gold mine near Kalgoorlie.
The miner on Friday blasted a portal at the bottom of the Paddington pit, beginning the underground decline that opens up the new operations dubbed Homestead.
Managing director Jon Parker told AAP that this was a significant step [...]