Australian shares hit a record high on Wednesday, boosted by gains in mining stocks, with Perenti Global jumping after bagging a large contract from Sandfire Resources.
Samarco Mineracao SA, a bankrupt joint venture between Brazilian miner Vale SA and BHP Group Ltd, proposed on Thursday a plan to restructure 50 billion reais ($10 billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value.
Workers at BHP Group's Spence copper mine in Chile said on Wednesday they will extend negotiations with the company for a few more days to try and reach agreement on a new contract and avoid a strike at the operation, the union told Reuters.
A strike by workers for BHP's Escondida and Spence copper mines in Chile entered its fifth day on Monday, as the union awaited a decision by labor authorities over whether substitute workers the company called in are legal, a union leader told Reuters.
BHP-backed SolGold Plc, the copper-gold company focused on Ecuador, said on Wednesday it will work with shareholder Cornerstone Capital Resources to advance the Cascabel project, ending a two-year spat that will allow them to explore financing options.