MINING COMPANIES PRESSURED BY FALLING DOLLAS AND RISING OIL PRICES, SAYS MORGAN STANLEY

A falling US dollar and rising oil price is renewing cost pressures on many mining companies and may lead to another round of belt tightening, mine closures and job losses.

Investment bank Morgan Stanley said the "profitability buffers" of weaker exchange rates and cheaper oil in producer countries such as Australia, Canada and Chile are now reversing on the back more central bank stimulus and yet another attempt to re-energise China's slowing economy.