Mining deals plummet in value as commodities bust continues

Mining deals plummet in value as commodities bust continues

Posted May 16, 2016 17:01:54 Photo: Rio Tinto has sold its Bengalla open cut coal mine to New Hope. (ABC News: Tim Lamacraft) The end of the mining boom and lower commodity prices are continuing to hit the global mining industry hard as the world’s biggest miners sell off unprofitable mines and troubled miners sell assets to cut debt. A new report by accounting firm Ernst & Young has found that the value of deals globally plunged by 45 per cent over the year to March to $US3.3 billion ($4.5…

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