BHP Billiton declares force majeure

The world’s biggest miner, BHP Billiton, is declaring force majeure at its coal mines in Australia’s Bowen Basin due to prolonged union strikes and heavy rain, the company said on Monday, in a move that could spur prices of metallurgical coal. About 3,500...

Rio wields the diamond blade

About three months after BHP Billiton announced it was reviewing the future of its diamonds business with a view to selling it, Rio Tinto has followed suit with its own strategic review. The decisions of both of the big miners to question the future of diamonds within...

India loses $210bn in coal sales in "mother of all scams"

Vedanta, Tata, ArcelorMittal and Adani are among a hundred companies, said to have benefited from the “fixing” of recent Indian coal contracts – to the tune of US$210 billion. Indian Prime Minister, Manmohan Singh, has argued that newspaper reports...

Vedanta's girl has got the "X Factor"!

Vedanta Resources’ cynical campaign, to create an impression of “happiness” among communities impacted by its destructive activities, has been widely ridiculed. Now, it turns out that Vedanta’s supremo, Anil Agarwal, has been grooming his own...

Capitalism: a Ghost Story

Mukesh Ambani is personally worth $20 billion. He holds a majority controlling share in Reliance Industries Limited (RIL), a company with a market capitalisation of $47 billion and global business interests that include petrochemicals, oil, natural gas, polyester...

Taxing Questions have Few Answers

How on earth can taxing carbon emissions save the planet, without a drastic cutback in our reliance on coal? That’s a question which hasn’t yet been addressed by one of the world’s biggest thermal coal exporting countries. See...