Frik Els, Author at MINING.COM

Is this why the call it the devil’s metal? Outcome of CFTC silver price rigging probe murkier than ever

On Monday conflicting reports about the outcome of a four-year old probe into possible price manipulation of silver left investors perplexed about the future trading direction of the precious metal.

Frik Els | August 6, 2012 | 9:45 pm

Photos: Iran coal miners toiling for $15 a day

The miners work at a depth of 300 meters in two shifts of 6 hours per day and are hired on a contract basis for 400,000 tomans (about $200) per month

Frik Els | August 6, 2012 | 9:17 pm

AngloGold Ashanti wants to buy more small miners

AngloGold’s completion of five small, but high-value-yielding acquisitions over the past four years was expected to add about 700 000 oz/y to its production profile at about two-thirds of the cost its competitors would pay to build new assets.

Frik Els | August 6, 2012 | 8:01 pm

Minnesota copper-nickel developer shares off to the races

Augusta Resources off to the races after environment permit granted for massive Tucson copper mine

Augusta Resource jumped more than 10% on Monday after announcing it has received an air quality permit for its Rosemont mine in Arizona which could by itself account for about 10% of annual US copper output once in production in 2015.

Frik Els | August 6, 2012 | 6:55 pm

No project delays and capex freezes here: China’s biggest gold miner is growing at 60%

China's number one gold producer said Monday first-half revenues surged 61.4% to $7.8 billion compared to 2011 and should exceed $15.5 billion for the full year.

Frik Els | August 6, 2012 | 6:06 pm

First Quantum begins production at $2.1bn Sentinel copper mine in Zambia

Fatal clash over $80 a month mining wage strains Zambia China relations

A Chinese supervisor died on Saturday after being hit by a trolley pushed at him at the Collum mine in Zambia during a dispute over minimum wages.

Frik Els | August 6, 2012 | 6:00 pm

Miners face up to 50% pay hikes in Zambia

After burning fingers in Congo, First Quantum is going big in Zambia

The Vancouver-based miner inked a deal with a Zambian firm for a new mine on Monday adding to its already ambitious expansion plans totalling $3.7 billion which includes building one of the world's largest copper smelters.

Frik Els | August 6, 2012 | 3:59 pm

Did you hear the one about the New Jersey swami that’s worth 175lb of platinum?

Congregants are expected to throng the Shree Swaminarayan temple in New Jersey this Sunday to ceremonially weigh their guru in honour of his 70th birthday. Preliminary estimates are that Swami Purushottampriyadasji's good works are worth just under $4 million or the equivalent of 40,000 catalytic converters.

Frik Els | August 3, 2012 | 9:45 pm

UPDATE: Gold massacred again after hours, down $166

Molycorp stock in freefall as falling cash flow forces it to find new financing

Today's decline brings Molycorp's losses since hitting a high of $77.54 on May 3 2011 to over 80% giving it a market value of $1.1 billion.

Frik Els | August 3, 2012 | 9:02 pm

Mongolia’s champion of resource nationalism is going to jail for four years

Former president Nambaryn Enkhbayar was found guilty on corruption charges and sentenced to four years in prison just weeks after he made a political comeback with his Mongolian People’s Revolutionary Party as the junior partner in the new ruling coalition.

Frik Els | August 3, 2012 | 6:18 pm