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Australia's Pilbara Minerals said on Monday it expects to swing to an underlying loss for the first half, as it placed one of its two processing plants in care and maintenance owing to a steep drop in lithium prices.

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Guinea expects the giant Simandou iron-ore project, which is expected to begin production by December, to achieve maximum output by its second year of operation.

The company’s headline earnings for the period are expected to be between R11.7-billion and R12.9-billion, compared with headline earnings of R22.7-billion for 2023.

Brazilian miner Vale confirmed on Thursday it has bought the 50% stake in its Baovale tie-up previously owned by its Chinese partner Baoshan Iron & Steel, known as Baosteel, a move that gives Vale full control of the iron-ore project.