Rio Tinto reduces exposure to 'tax havens'

Rio Tinto has reduced its exposure to tax havens over the past year but its Singapore marketing hub continues to be investigated by the Australian Taxation Office, according to the Australian Financial Review.

The resources giant said 17 of its 600 subsidiaries were domiciled in tax havens, and eight of those were dormant.

Sotheby's to auction off world's biggest diamond

The world's largest uncut diamond is about to be sold in a most uncommon way. It may be worth as much as $US86 million ($117 million), according to the Sydney Morning Herald.

The tennis ball-size gem a 1,109-carat white diamond discovered last fall in the Lucara mine in South Africa will be up for bid Wednesday evening in a public auction at Sotheby's in London.

Evolution Mining sticks focus on portfolio improvement

Evolution Mining executive chairman Jake Klein says the company is determined to remain a mid-tier producer to avoid the value destruction that has plagued the gold industry's growth-focused majors, as the miner announced it would double its dividend payout after a strong 2016 financial year, according to the Australian Financial Review.

The country's second largest listed gold producer has already increased its annual production from around 45,000 ounces in the 2011 financial year to an expected 800,000 ounces this financial year predominantly through a string of well-timed acquisitions.