Top Chinese bank buys 1,500 tonne London gold vault
Beijing's ICBC, the world's largest bank, is also applying to become a clearing member of the $5 trillion over the counter London bullion trade.
Frik Els , Editor
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:
Anglo American teeters on the brink
Fresh selloff brings year loss to 80%. Outside metal prices rebounding (aka divine intervention) and barring extending a begging bowl, what will save Anglo?
China may be regretting modest forex gold buys
Given the rally in the gold price purchasing more than 19 tonnes may have cushioned the record $108 billion fall in China's forex reserves in December.
Copper price in renminbi rout
Copper price falls as much as 4.7% as chaos on Chinese stock markets and renminbi devaluation intensify growth fears for world's top metals buyer.
Private capital won’t touch mining
Only 0.6% of private capital raised in 2015 for natural resource investment is for mining projects–one wind farm fund attracted more than the entire sector.
Iron ore price 16% rally off decade low comes to abrupt halt
Hopes pinned on Big 4 to exercise their "unprecedented pricing power".
CHART: Gold price winning against US rates
Given the strong inverse relationship between US yields and the gold price, gold should've been trading in triple digits right now.
New year gold price surprise for hedge funds
Large-scale gold futures speculators who placed a record number of bearish bets during the final week of 2015, wrong-footed by Monday's safe haven buying.
One analyst predicted gold price down to the dollar
One year ago, winner of London Bullion Market Association's precious metal forecasting competition predicted gold would average $1,160 in 2015.
The world’s 10 coldest mines
With temperatures that can drop to nearly -50°C, these mines offer some of the most challenging working conditions in the world.
Mining’s next boom is off the map: Arctic ice, abyssal plains and asteroids
Depletion, lower ore grades and higher prices pushing miners to new frontiers. The Arctic is already drawing capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.