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Plunging commodity prices have knocked Clive Palmer off Australia's top 50 rich list.
An investor group which includes two directors of Resource Equipment has yet to sell into a Texan billionaire's $115 million play for the mining services firm despite the board unanimously urging other shareholders to accept the offer.
Exploration and production company Beach Energy will cut capital expenditure by 20 per cent in response to the recent slide in oil prices.
Fortescue Metals Group has cut its production costs 11 per cent and flagged further reductions as it responds to lower iron ore prices.

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