Rio Tinto to consider Sam Walsh's successor

The main boardroom focus for Rio Tinto chairman Jan du Plessis in 2016 will be finalising succession planning at the mining giant, according to the Australian Financial Review.

De Plessis must decide on a successor for CEO Sam Walsh at least a year or two before he himself resigns to avoid Rio having a fresh chairman and CEO at the same time.

China's Hebei province to cut steel output

The biggest steel-producing province in China will cut output this year to ease pollution and help curb oversupply, according to the Australian Financial Review.

The northern province plans to reduce steel output by 8 million tonnes in 2016, governor Zhang told local lawmakers, according to a Xinhua News Agency report. Iron ore production will be cut by 10Mt, it quoted Hebei governor Zhang Qingwei as saying.

Gindalbie Metal's WA iron ore mine Karara faces collapse

The China-controlled $2.5 billion Karara iron ore project in Western Australia faces collapse and the loss of 1000 jobs, with majority owner Ansteel saying its parent company might no longer provide funding because of the prolonged iron ore price slump, according to the Australian Financial Review.

Karara, a joint venture between Chinese state-run Ansteel and Australian-listed Gindalbie Metals, could be shuttered in the coming weeks if the Chinese steelmaker pulled its financial support, sources close to the project said.