Frik Els, Author at MINING.COM

Iron ore price up on hopes of recovering steel production in China

Iron ore hits 5-week high as China continues to forge steel near record pace

The performance of iron ore is in stark contrast to other commodities including copper which has shed 4% over the last two days and crude oil which touched a 52-week low of under $78 a barrel today.

Frik Els | June 21, 2012 | 7:05 pm

Cardero shareholders abandon ship after creditors allege default

Papua New Guinea won’t budge over Nautilus seabed mine. Shareholders abandon ship

Canada's embattled Nautilus Minerals dropped 11.5% on Wednesday after Papua New Guinea said it is within its rights to terminate a deal made last year for the development of the world's first commercial seabed mine.

Frik Els | June 20, 2012 | 8:36 pm

China's radical reforms may prompt massive safe haven buying of gold

China takes up India’s gold buying slack

A strong yuan and few other investment opportunities are prompting record gold buying in China just as India's appetite wanes due to a weakening currency.

Frik Els | June 20, 2012 | 5:49 pm

BEAR GRIP: 9 ways 2013 changed gold for good

Gold sinks below $1,600 after Fed disappoints

Traders were disappointed by the size of the asset purchase program that the Federal Reserve and its Chairman Ben Bernanke decided on, sending gold tumbling more than $25 by lunchtime to change hands at $1,598 an ounce. Earlier in the day the metal fell to $1,591.

Frik Els | June 20, 2012 | 5:14 pm

Blanchard: Fed overselling rate hike great for gold

Baja Mining has 45 days to come up with money for Boleo

Besieged Baja Mining (TSX:BAJ) added another 14% on Wednesday following good gains the day before to trade at $0.205 after announcing it had negotiated a 45-day standstill agreement with lenders for its Boleo project.

Frik Els | June 20, 2012 | 4:55 pm

Ben Bernanke the two of us need look no more. We both found what we were looking for: QE3

Gold bugs are waiting with bated breath for news that the Federal Reserve and its Chairman Ben Bernanke have agreed to further asset purchase programs when the Open Market Committee releases its policy statement on Wednesday.

Frik Els | June 19, 2012 | 11:30 pm

Semafo up 4% after tracing new trend over 10 kilometers in Niger

The $1.5 billion company currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea.

Frik Els | June 19, 2012 | 5:38 pm

Aging Antwerp needs polishers, offering free training

Antwerp's diamond polishers are aging and in order to recruit new talent, the the local diamond industry is offering free education under its 'Antwerp Diamond Masterplan – Project 2020’

Frik Els | June 19, 2012 | 9:04 am

End of the supercycle is also spelling the end of radical resource nationalism

"Natural resources companies with a pipeline of, say, five projects in five different countries are now likely to build just two or three of those. Thus, executives have the power to cherry pick which combination of country and project offers the best returns."

Frik Els | June 17, 2012 | 8:32 pm

Japan’s restart, supply shortages could see uranium price return to $70

Apart from developments in Japan and the expiry of the Russia-US nuclear weapons agreement Beijing restarting its construction programme after a review will support oxide prices.

Frik Els | June 17, 2012 | 6:33 pm

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Frik Els , Editor

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