Iron ore price drop near record low ‘self imposed’
Cliffs CEO heaps scorn on Rio Tinto and BHP living in "an imaginary world" as iron ore falls to second lowest spot price on record.
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:
Gold price: Hedge funds ready to dump 430 tonnes
Five days of selling drops gold price nearly 6% ahead of crucial US jobs numbers on Friday as large futures investors liquidate massive bullish positions.
Silver Wheaton pays $900m for Glencore silver stream
The Vancouver-based streaming company says the deal immediately adds expected average silver production of 5.1 million ounces per year.
Copper bears ignoring Chinese manufacturing turnaround
Index of manufacturing activity closely correlated with copper price bounces back in October.
India’s festivals, wedding season flop for gold traders
Domestic gold price discount in double digits with predictions of 25–30% slump in seasonal buying.
China’s new 5-year plan brilliant news for mining
At fifth plenum Beijing recommits to high economic growth rates, faster urbanization and indicates it's willing to step in to make it happen.
Why tunnel boring machines are named after women
Because the patron saint of mining is a woman.
Goldcorp shares are being decimated
World's most valuable gold mining company disappoints with big loss despite 42% jump in ounces mined.
Liquidation time for Venezuela (and its gold)
Crisis-hit Venezuela has $3.5 billion in debt payments due within 10 days (and $12 billion in 2016) and really only its gold bullion reserves to pay for it.
Gold price on knife edge after post-Fed fall
Spooked by Federal Reserve's hawkish stance, hedge funds start liquidating 345 tonnes worth of bullish gold futures positions.
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.