Frik Els, Author at MINING.COM

Copper price jumps to 6-week high after Chinese factory data

China’s lower manufacturing reading masks ‘notable rebound’

After adjusting for seasonality, the reading shows that the manufacturing sector is actually improving, thanks to the slew of stimulus measures implemented by the Chinese government.

Frik Els | August 1, 2012 | 4:52 pm

Bill Gross: 'I would still buy gold here'

Gold and QE3: World’s largest money manager sees ‘cult of inflation’ lasting a ‘few years even decades’

"The cult of equity may be dying, but the cult of inflation may only have just begun."

Frik Els | August 1, 2012 | 4:04 pm

Fresnillo’s gold sales outshine silver

The company is sticking to plans to spend $680 million this year including ramping up production at its Noche Buena mine. The firm has five operating mines and this year forecasts 41 million ounces of silver produced and 460,000 ounces of gold.

Frik Els | August 1, 2012 | 2:48 pm

Barrick stock falters after S&P downgrades over Pascua-Lama ‘execution risks’

Barrick announced last week a 50-60% cost blow-out for the copper-gold-silver project straddling the Chile–Argentina border which could end up with a final bill of as much as $8 billion with $3 billion already spent.

Frik Els | August 1, 2012 | 2:20 pm

BHP keeping Olympic Dam expansion on hold, unless ‘technological miracle’ allows it

Fresh doubts over Olympic Dam as BHP freezes hiring

BHP's board was to make a decision on the $30 billion project this year, but a newspaper report over the weekend said a decision will not be made until 2014 and BHP's uranium division "confirmed the deferral and said a recruitment freeze was now in place".

Frik Els | July 30, 2012 | 12:32 am

One of the world’s oldest ruling dynasties threatened by platinum industry crisis

The Royal Bafokeng nation, who control vast parts of the platinum belt in the north west province of South Africa warned that earnings at its main investment vehicle could be down by between 52% and 62% over the first six months of 2012.

Frik Els | July 29, 2012 | 11:44 pm

Mittal: Investing in mining, but not India or China

I'm not locating capital to India or China as I don't see things progressing there. We can't remain stuck, so we move on. Now our priority is to reduce debt, we sell non-core assets. But we continue to invest in mining and become self-dependent.

Frik Els | July 29, 2012 | 10:07 pm

Feds quash 21-year old permit after coal mining restarted, overruling Alaska Natural Resources Dept

A coal mining permit issued in Alaska 21 years ago — but not utilized until recently — has been ruled as no longer valid by a US federal agency because the Alaska DNR “erroneously transferred and renewed invalid permits."

Frik Els | July 29, 2012 | 1:39 am

20 arrested after shutting down coal mine in West Virginia

Patriot Coal's Hobet mine was back in production by late afternoon.

Frik Els | July 29, 2012 | 12:16 am

The Awa, S11D, Colin Firth and flesh-eating bats: Welcome to global mining’s environment acid test

World number one iron ore producer Vale over the weekend "played down fears" that the planned $20 billion expansion of its Carajas mine would harm the local Awá people described as "Earth’s most threatened tribe."

Frik Els | July 28, 2012 | 11:53 pm