Billions set to flow for Rio Tinto's Oyu Tolgoi expansion in Mongolia

A multibillion-dollar finance package for the expansion of Rio Tinto's Oyu Tolgoi mine could be approved this week as the Rio subsidiary in charge of the Mongolian mine was expected to update the market on Thursday morning, according to the Sydney Morning Herald.

Turquoise Hill Resources, which is 50.79% owned by Rio, has long forecast that the finance agreement will be signed before the end of 2015.

Several banks said they expected an announcement on financing this week.

MMG boss Michelmore says copper will be deficit in 2016

MMG chief executive Andrew Michelmore has revealed himself to be perhaps the most bullish of the copper bulls, saying that copper markets could be in deficit in 2016, according to the Australian Financial Review.

Speaking ahead of MMG's first day of listing on the ASX on Monday, Michelmore said the slow delivery of new copper mines plus China's need to continue developing infrastructure like its electricity grid would ensure copper prices recover from their current woes.

Rio Tinto's aluminium division bunkers down for better times

As the iron ore price continues to hit new record lows, Rio Tinto's second biggest businesses – aluminium – is starting to get more attention, according to the Australian Financial Review.

The miner is doubling down on cost cutting for the division, and sticking to its position to exit any cash flow negative smelters.