But the stock climbed further after the billionaire investor disclosed the stake in a filing with the U.S. Securities and Exchange Commission, and said that he plans to speak with Freeport and may seek board representation. Freeport is undervalued, Icahn said in the filing, and he intends to address "executive compensation practices and capital structure as...» Read More
The price of gold may have stalled in recent weeks with fears that loose monetary policy at the Federal Reserve could come to an end, but one analyst told CNBC that the precious metal is set for a good rally this year regardless of whether inflation occurs or not.
Nathaniel Rothschild, founder of NR Investments, tells CNBC that he has no personal agenda whatsoever and his only interest is recovering the money that minority shareholders lost at Bumi.
Samin Tan, chairman of Bumi PLC, tells CNBC that if Nathaniel Rothschild wins the coming EGM there will be years of litigation among various parties that will further destroy the value of Bumi.
Australian mining-to-retail conglomerate Wesfarmers on Wednesday cut its full-year coal sales forecast, citing flooding in Australia and weak demand in Asia that is depressing sales prices.
Nat Rothschild, Co-founder of Bumi stepped up the bitter battle for control of the Indonesia-focused miner, attacking both the board for its inaction and CEO Nick von Schirnding for "embellishing his CV."
POSCO, the world's No.5 steelmaker by output, reported a 51 percent slump in quarterly operating profit as tepid demand and falling prices offset lower raw material costs helped by a firmer local currency.
For all the doomsayers predicting an end to its mining boom, Australia is pumping out more metal, coal and gas thanks to a investment bonanza that will peak this year, boosting exports needed to extend a jaw-dropping 21-year run of economic growth.
Mike Brown, CEO of Nedbank Group one of the largest lenders to South Africa's mining industry, talks to CNBC about the fallout from unrest in South African mines.
David Einhorn's Greenlight Capital had a 2012 return of 7.9 percent, and a loss of 4.9 percent. CNBC's Herb Greenberg, offers insight.
CNBC's Sharon Epperson reports on the metal markets close for the day, saying the progress in the talks on the U.S. debt limit has reduced gold's appeal as a safe haven.
CNBC's Kate Kelly reports David Einhorn of Greenlight Capital told investors shorts in iron ore miners hurt the results, not Herbalife.
Hamish Tyrwhitt, CEO of Leighton Holdings, Australia's largest construction company, tells CNBC that the demand for volume in mining remains and they see a doubling of energy demand over the next decade.
BHP Billiton, the world's biggest mining company, boosted its iron ore output by 3 percent in the December quarter, as it races to supply more of the raw material to Chinese steelmakers despite signs of a softening market.
Australia's Port Hedland, which handles about a fifth of the world's seaborne-traded iron ore, will reopen on Wednesday after being spared the brunt of a cyclone that has also shut other major ports in Western Australia.
Mining firms including BHP Billiton and Anglo American are likely to follow Rio Tinto's lead in writing down underperforming assets by as much as $10 billion, as low prices and rising costs eat into valuations.
Iron ore prices have nearly doubled over the past four months, delighting producers, yet the surge is hindering expansion of iron ore mines in Western Australia, the site of the world's largest known deposit.
Sharon Epperson reports the "silver surge" has driven demand for silver coins made by the U.S. Mint. (1:23)
Paul Renken, senior geologist at VSA Capital, explains why investment banks are upping their price targets on Rio Tinto after the new CEO announcement.
Rio Tinto, the mining giant, was in turmoil Thursday morning after the abrupt departure of its chief executive and the announcement of a $14 billion writedown.
Global miner Rio Tinto has announced the surprise resignation of its chief executive after taking a $14 billion charge in connection with Tom Albanese's two most significant acquisitions, Mozambican coal and aluminium.