AAP

Shares in Moly Mines have surged more than 20 per cent after the company agreed to sell output from its producing iron ore mine in the Pilbara to fellow miner Mineral Resources for about $38 millio

Federal resources minister Gary Gray is confident Australia will remain a major supplier of metal and minerals commodities, especially to South-East Asia.

The two federal independent MPs who have helped keep the Gillard minority government in power for nearly three years are walking away from politics.

Paladin Energy shares fell by more than 10 per cent after it delayed until August a deal to sell a stake in an African uranium mine.

The state government will pay more for gas from Chevron's Gorgon project than from the North West Shelf, but says the increase won't all be passed on to consumers.

The Australian share market has opened more than one per cent higher.

The Australian dollar has held its own against a stronger greenback driven by positive data, after China's central bank moved to calm fears that its country faces a credit crisis.

Gold futures have extended recent losses to set a 33-month low, as a string of stronger US economic data bolstered equities and dampened interest in safe-haven assets like precious metals.

US stocks have closed higher, helped by data showing more strength and confidence in the US economy and as worries eased over a credit crunch in China.

While the federal treasurer believes Australia should become the world's largest liquefied natural gas exporter by the end of the decade, an industry insider says high production costs are putting

More than 450 automotive businesses are closing across the nation on average each year, the Australian Motor Industry Federation warns.

The Australian share market has finished lower, dragged down as nervous investors take their leads from falls across major Asian markets.

Gold miner Newcrest has brought in a former chairman of the corporate regulator to review the way it keeps investors informed about its business.

The Australian share market has opened slightly higher in defiance of declining Asian and US markets and concerns of a cash crunch in China after its worst growth reading in 13 years.

Federal Treasurer Wayne Swan says a falling Australian dollar should help the transition from mining investment to broader-based growth in the economy.

Gold, silver and platinum have slumped to multi-year lows as investors dump the precious metals on the belief that rising US interest rates and a cash crunch in China will limit demand.

US stocks have ended the day decisively lower on concerns about the Chinese economy but rallied well above their intraday lows as US Treasury yields retreated.

The Australian dollar has dived below 92 cents for the first time since September 2010 following the weakest Chinese growth reading in 13 years.

Australian shares have posted their largest one-day loss in two months as nervous investors looked to steep falls on Asian markets due to fears of a credit crunch in China.

The slowing of the mining boom and public sector cuts will lead to a dramatic drop in the number of new homes being built in parts of Australia, according to a new report.

The Australian share market is expected to extend its losses in morning trade after opeing more than one per cent lower, but should make something of a late recovery into the close.

Mining giant Rio Tinto has decided to retain its diamonds businesses following a review which considered a range of options, including divestment.

Prime Minister Julia Gillard has taken a swipe at irresponsible commentators talking down the Australian economy.

Gold and silver futures have pulled higher as investors who wagered on lower prices cashed in gains on the previous day's slump, and as a rebound in physical purchases buoyed prices.

US investors have endured another down week after the Federal Reserve surprised markets by signalling that it would begin to taper its bond-buying program later this year.

Holden's boss says he is confident a coalition federal government would help Australia's car industry survive, despite recent promises to cut support for the struggling sector.

An afternoon recovery on the Australian share market was not enough to prevent a second straight day of losses.

The federal coalition wants to make the Top End of Australia the next development frontier for jobs, services and infrastructure.

Shares in Newcrest Mining have slumped to nine-year lows as the miner battles disclosure and operational problems.

Mining giant BHP Billiton has sold a 15 per cent stake in a Pilbara iron ore mine to two Japanese conglomerates for $US1.5 billion ($A1.6 billion).

The Australian share market has opened more than one per cent lower.

As the mining story slows down, other sectors need to pick up to support Australia's growth.