Market will back BHP Billiton coal acquisition

Investors and analysts say they will support BHP Billiton if it succeeds in securing Anglo American's Queensland coal assets, which are tipped to fetch around $US1.5 billion, according to the Australian Financial Review.

BHP, as part of its BHP Mitsubishi Alliance coal joint venture with Japanese giant Mitsubishi, is the last remaining bidder in the auction process for the Anglo assets, which include the Moranbah North and Grosvenor metallurgical coal mines.

De Beers puts Canadian Snap Lake diamond mine up for sale

The Australian Financial Review reports that Anglo American's De Beers has put its Snap Lake diamond mine in Canada up for sale after suspending operations at the unprofitable mine last December.

De Beers has hired Bank of Montreal to market the underground mine in Northwest Territories, said spokesman Tom Ormsby, but he did not provide financial details.

BHP Billiton gold output hits 14 year high

Declining production was the norm across BHP Billiton's most important divisions during fiscal 2016, but that didn't stop booming production in some of the company's lower profile product groups, according to the Sydney Morning Herald.

The miner's production of gold, for example, soared 21% higher than the previous year to 226,682 ounces, with about 20% of that owned by joint venture partners.