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Rio Tinto boss Sam Walsh has signalled the company will continue to pile the pressure onto smaller iron ore producers, telling investors in London overnight Rio will push ahead with plans to expand its Pilbara mines.
WA Mines Minister Bill Marmion has moved to insulate the State Government's subsidies for mineral exploration from budget cuts, releasing a report arguing the scheme delivers far more than it costs.
Oil services giant Schlumberger said Thursday it would cut 11,000 more jobs as its first-quarter earnings tumbled after low crude prices forced it to cut drilling.
Woodside Petroleum Chairman Michael Chaney has warned shareholders to prepare for a lengthy period of low oil prices, something the company was expecting.

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