Australian stocks have fallen, mirroring a plunge on China’s Shanghai Composite Index. The ASX200 is down 111.9 points, or 2%, to 5,469.5.

Mining stocks were the biggest losers with the Materials Index down 3.1% to 8,321.3 points.

BHP Billiton (ASX:BHP) is down 3.1% to $25.43 while Fortescue Metals Group (ASX:FMG) dived 6.2% to $1.68.

Newcrest (ASX:NCM) dropped 3.8% to $12.59 and Rio Tinto(ASX:RIO) is down 3.3% to $50.06.

Market Action here…

Metro Mining (ASX:MMI) climbed 23.8% to $0.13.

In June, the company announcing a 398% increase in its ore reserve at the Bauxite Hills Project in Cape York, Queensland, from 12.1 million tonnes to 48.2 million tonnes, enough for a 27 year mine life.

The project could be in construction mode in second quarter 2016 and producing by fourth quarter 2016.

This would be at a rate of up to 2 million tonnes of Direct Shipping Ore (DSO) per year.

Bauxite Hills is situated 95 kilometres north of Weipa and five kilometres south-east of the port at Skardon River.

The project has a high grade total alumina of 50.2% and reactive silica of 6.3%, which is typical of Western Cape York bauxite deposits destined for export.

Arc Exploration (ASX:ARX) jumped 50% to $0.003.