Frik Els , Editor

Australia dumps trucks: Nov-Dec mining machinery imports dropped 62%, suggesting no-one’s immune

Australia's mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country's largest freight forwarders of heavy equipment.

Frik Els | January 30, 2012 | 8:04 pm

Forget gold, IRON ORE is the story of the decade

On the last day of Roundup, Vancouver's mining showcase, Sandy Chim CEO of Canada's Century Iron Mines, flashed a few slides about China, India and the iron ore market that would make gold bugs green with envy.

Frik Els | January 27, 2012 | 9:25 pm

Anglo defends itself against ‘criminal accusation’ as mud flies in fight with Codelco

Anglo-American in its increasingly acrimonious fight with Codelco on Thursday had to defend itself against what it termed "the criminal accusation" made by the president of the Federation of Copper Workers in Chile who sits on the Chile’s state-owned copper giant board.

Frik Els | January 26, 2012 | 9:51 pm

Gem’s rock star mine produces record number of big stones, but prices per carat fall 23%

Gem Diamonds on Thursday reported record annual production at its flagship Letšeng mine in Lesotho and continued to polish its reputation as the world’s richest source of exceptionally large diamonds, but prices per carat fell 23% compared to a year ago.

Frik Els | January 26, 2012 | 8:17 pm

Dr Caterpillar’s (excellent) prognosis for mining

With revenues of $60 billion last year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector than Caterpillar. But what is it saying about the outlook for 2012?

Frik Els | January 26, 2012 | 7:01 pm

Detour jumps after upping reserves and raising $1.45 billion to build Canada’s largest gold mine

Detour Gold added $1.80 to $28.40 or 6.7% on Wednesday after announcing bought deal financing led by BMO Capital Markets and CIBC worth $241 million. The latest round is enough to complete its $1.45 billion Ontario project for which it also announced improved reserves estimates.

Frik Els | January 25, 2012 | 9:50 pm

No news is good news: Aurizon up 10%

Aurizon Mines (TSE:ARZ) jumped more than 10% on Wednesday despite the absence of fresh news. The cash-rich Quebec miner earlier this month announced a record year for gold production and strong growth prospects and 2012 is expected to be a busy year for gold M&A activity.

Frik Els | January 25, 2012 | 8:01 pm

Open season on Kinross: First a downgrade and legal probe, then someone drops $72 million on it

Kinross Gold was taking more punishment on Wednesday morning after its stock was downgraded and US securities litigation firm Holzer Holzer & Fistel announced it is investigating potential violations of federal securities laws by the miner over gold grades at its Tasiast property. Then at 13:30 the stock popped into positive territory after a single trade worth $72 million went through.

Frik Els | January 25, 2012 | 7:18 pm

Peru PM says Conga will get built, otherwise Newmont’s compensation bill would be ‘huge’

Peru's Prime Minister said on Tuesday Newmont Mining’s stalled Conga project will be developed as the government could end up with a "huge" compensation payment if the $4.8 billion mine does not go ahead.

Frik Els | January 24, 2012 | 10:04 pm

Rio Tinto takes control of Ivanhoe, punters feel deflated

World number two miner Rio Tinto has taken a majority stake in Ivanhoe Mines, its partner on the massive Oyu Tolgoi project in Mongolia, purchasing a 51% interest. A favourite stock of punters, Ivanhoe surrendered 4% in Toronto on Tuesday.

Frik Els | January 24, 2012 | 9:20 pm

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