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PetroChina buys interests in two gas projects off the West Australian coast.

The bull market in commodities still has some years to run, but mining companies are preparing for leaner times.

The abandonment of the 40-year benchmark pricing system for iron ore will lead to a rapid expansion of the swaps market, say market pioneers Credit Suisse and Deutsche Bank.

Rio Tinto announces a $15.2 billion rights issue and a joint venture with BHP Billiton, scuttling a proposal by Chinalco to invest $19.5 billion in the natural resources company.

Chinalco and Alcoa join forces to buy a 12% stake in Rio Tinto for $14 billion, taking both rival bidder BHP and the target by surprise, in a move analysts have called ingenious.