Frik Els , Editor

Kicked out of small town motels, Australia’s ‘coal girls’ resort to RV parks

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns and motel and hotel owners are kicking out prostitutes using their rooms to ply their trade.

Frik Els | January 9, 2012 | 7:27 pm

1 million Grand Canyon acres off limits to miners for the next 20 years

AP reports that the Obama administration is ignoring intense lobbying from the mining industry and political opponents on the right and will formally ban new uranium mining on 1 million acres around the Grand Canyon on Monday. Miners who registered thousands of claims during the final Bush years remain free to push ahead with new projects.

Frik Els | January 9, 2012 | 5:10 pm

Potash Corp and Mosaic settle over Esterhazy

Potash Corporation of Saskatchewan on Thursday announced the settlement of its litigation with Mosaic over their respective rights and obligations at Mosaic's Esterhazy mine. Potash Corp says the end of the legal battle "dovetails" with its expansion programme designed to increase production to 17.1 million tonnes a year by 2015.

Frik Els | December 8, 2011 | 1:00 pm

Week after flagging diamond division sale, BHP says likely no new investment in aluminum and nickel arms

Finance News Network reports BHP Billiton's CEO Marius Kloppers says the miner will likely stop investing in its "tough" aluminium and nickel divisions and run them as "lean and mean as possible". The comments are fuelling speculation that BHP will lob off the two divisions and come just one week after the company said it would decide by January next year whether to get out of the diamond business altogether.

Frik Els | December 8, 2011 | 11:50 am

India iron ore giant NMDC says still keen on Australia despite new taxes, labour costs

The head of India's biggest iron ore miner says Australia's reputation as a very favorable place to invest has not been dented by the combination of a carbon tax, mining tax and escalating labour costs as the $22 billion group prepares to establish a local mining arm.

Frik Els | December 8, 2011 | 11:30 am

Vale readies first Moatize coking coal shipment

Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources told Reuters on Tuesday. This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit. Vale last month approved a $6 billion expansion of Moatize to double output to 22 million tonnes per year.

Frik Els | December 7, 2011 | 2:00 pm

FT asks if Indians’ love of gold is destroying their economy

Based on new research by investment bank Macquarie titled India’s Fatal Attraction, the FT asks if India’s weddings are destroying its economy given the huge importance of gold in the culture – especially between October and January, when festival season turns into wedding season and some 20 million Indians tie the knot.

Frik Els | December 7, 2011 | 11:52 am

Barron’s: Gold is only bright spot for Paulson this year

Barron's Deal Journal reports John Paulson's gold fund is the one bright spot in his portfolio year to date, but even it is lagging other gold ETFs.

Frik Els | December 7, 2011 | 11:50 am

Minmetals confident amid DRC election chaos, extends Anvil takeover offer again

Anvil Mining, a copper producer in the Democratic Republic of Congo, announced Wednesday China's Minmetals Resources has extended its $1.3 billion takeover offer for the second time, to January 11 next year. The extension comes as violence and allegations of vote rigging mar the DRC presidential election, for which full results is now only expected later this week. Anvil is also undergoing an audit of its leases with the DRC's state-owned Gecamines.

Frik Els | December 7, 2011 | 11:20 am

LME overhauls electronic platform as trading volumes surge

The London Metal Exchange said Tuesday it has completed a major upgrade to its electronic trading platform to cope with record volumes and high frequency trading. A takeover of the 134-year old exchange – one of the last bastions of open outcry trading – appear to be in the offing as its major shareholders jockey for position and competition from Asia intensifies. Over the last 7 years electronic trading has grown from 2% to over 70% of the LME's market volume.

Frik Els | December 6, 2011 | 12:40 pm

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