Monday mining massacre as gold, copper, iron ore prices tank
Gold price falls $70 an ounce, copper drops over 3% and iron ore rout accelerates, sending shares in major mining companies skidding.
Frik Els
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Iron ore price rally turns into rout
Iron ore price falls 6% since Monday as supply concerns ease and port inventories climb.
Cobalt price rally boosts MINING.COM EV Metal Index
Stockpiling by China's State Reserve Bureau "could mark a point where cobalt prices begin a sustained rise".
Ivanhoe’s Congo mine productivity peerless among copper giants
GRAPHIC: Not just massive in scale, every tonne of copper ore milled at Kamoa-Kakula will be worth $286 – 9 times richer than Escondida, 35 times Morenci.
Iron ore price jumps to fresh 6-year high on China building boom
Iron price above $130 a tonne for the first time since January 2014 as construction leading indicator – excavator sales – surge 51%.
Copper price rallies as Chinese scrap shipments sink by 50%
China's war on foreign waste sees shipping lines refusing to transport scrap, fearing a liability for return shipment if cargoes are rejected by customs.
Freeport’s Grasberg go-go days back as gold, copper prices rally
Freeport's iconic open cut mine in Indonesia is going underground – nearly doubling copper and gold production and earning $8 billion per year in the process.
Short seller says Northern Dynasty is “gaslighting investors”
In a scathing report, JCap says Vancouver promotors of giant Pebble copper-gold mine in Alaska are lobbying for bonuses, not producing minerals.
Copper price drops despite 65% surge in China imports
Copper price dips below $3.00 as Shanghai–London arbitrage window shuts.
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Mines are the biggest holes in Tesla’s $25,000 car plans
“We sorta take a chunk of dirt out of the ground, remove the lithium, and put the chunk of dirt back where it was. It will not look, like, terrible. It will be nice.”