Rio Tinto chief Sam Walsh on Sunday warned of more job cuts as the mining giant works to make US$5 billion in savings by the end of 2014, but he was upbeat about demand for iron ore from China. The comments follow the Anglo-Australian miner posting its first annual loss in 18 years in February, plunging US$2.99 billion into the red on writedowns on its Mozambique coal and aluminium businesses and a dip in commodity prices.

MONTREAL - Alcoa said it may curtail about one quarter of its global aluminum production as the company and its industry rivals continue to adjust to low metal prices. The U.S.-based company said Wednesday it may curtail an additional 460,000 tonnes of aluminum capacity, or 11 per cent of its global output. Alcoa (NYSE:AA) has already idled 568,000 tonnes of production capacity, or 13 per cent of its global network. The company, which has large operations in Quebec, did not say what countries or regions of the world are being considered as part of its 15-month review.

Hundreds of workers at Freeport-McMoRan's Indonesian mine have gone on strike demanding better pay, the US firm said Wednesday, in the latest industrial action to hit the operation. Some 1,100 workers, employed by contractors and not directly by the company, downed tools on Tuesday at the Grasberg mine in eastern Papua province, one of the world's largest gold and copper mines, Freeport's Indonesian unit said.

Global mining titan BHP Billiton on Monday announced the sale of its Pinto Valley mining operation and rail assets in the United States to Capstone Mining Corp for US$650 million. In a statement to the Australian Securities Exchange, BHP said it had signed a definitive cash agreement with Canadian base metal miner Capstone. The deal for the open-pit copper mining operation east of Phoenix in the Globe-Miami district of Arizona is subject to regulatory approval and expected to be completed in the second half of 2013.