Surfwear retailer Billabong's shares have dived after the offer price in a potential takeover bid was slashed severely.

Rex Minerals aims to start work on Australia's largest undeveloped copper project from 2014 after applying for a mining licence from the SA government

Investors sent shares in Australia's Alumina soaring after joint venture partner and aluminium giant Alcoa reported a profit leap.

Sundance Resources shares have halved after the company's $1.3 billion takeover with China's Hanlong Mining collapsed.