Frik Els , Editor

Vale says iron ore reaching a bottom, will improve within ‘2-3 weeks’

"I believe the recovery will happen soon," José Carlos Martins, the Brazilian miner's director of iron ore and strategy, said during a conference call discussing the firm's second quarter results, adding that a modest recovery in China will boost prices.

Frik Els | July 28, 2012 | 11:47 pm

AngloGold halts Savuka operations after fatality

AngloGold, the number one gold miner on the continent, said "it was treating the death as an occupational accident pending an inspection scheduled for Monday."

Frik Els | July 28, 2012 | 7:04 pm

Iron ore’s $120-price floor theory unravels

Below $120 a tonne most Chinese producers become unprofitable, but a sustained period below this level may indicate a fundamental shift in the industry.

Frik Els | July 27, 2012 | 11:43 pm

Not convinced Chinese trade is a disaster? Take a look at these shipping numbers

Examples: Worldwide orders for dry-bulk vessels dropped 49% to 9.8 million deadweight  tons in the first half of 2012. The monthly index of new-ship prices in China is now at its lowest point since March 2004.

Frik Els | July 27, 2012 | 9:51 pm

Baja sued for $260 million in class action. Vancouver co is worth only $18 million, down 93% in 2012

Baja Mining dropped by almost a third on Friday after announcing class action proceedings seeking $260 million in damages for misrepresenting the true state of affairs at its Boleo project in Mexcio since 2010. It is now worth a paltry $18.7 million on the Toronto big board. During the heady days of 2007 Baja Mining was valued at $836 million.

Frik Els | July 27, 2012 | 8:50 pm

Silver Wheaton not fazed by Pascua-Lama delays

Silver Wheaton will be paying less than $4 an ounce to take the precious metal of Barrick's hands.

Frik Els | July 26, 2012 | 10:18 pm

Barrick’s Donlin move cuts Novagold stock off at the knees. Novagold says it’s ‘encouraged’, Paulson not so much

NovaGold lost over 25% on Thursday, after Barrick said that the Donlin JV with Novagold doesn't meet its investment criteria. Novagold tried to make the best of the news, but shareholder John Paulson suffered another blow to his $21 billion fund.

Frik Els | July 26, 2012 | 8:10 pm

US Silver investors welcome hostile Hecla with open arms

US Silver responded today by saying it's studying the offer and for now the much lower valued RX Gold & Silver deal stays in place.

Frik Els | July 26, 2012 | 7:04 pm

Shanghai rebar meltdown: The last time Chinese steel cost this much iron ore was trading at $70

Chinese rebar prices are now 8% lower than October 2011 lows, while iron ore prices remain 5% higher.

Frik Els | July 25, 2012 | 11:53 pm

Harmony up 7% as punters bet Wafi-Golpu pre-feasibility will map out a Grasberg rival

Release of a pre-feasibility study for Wafi-Golpu in Papua New Guinea is expected any day now and punters hope drilling results that put the deposit into the same league as Freeport-McMoran’s Grasberg mine across the border in West Papua, Indonesia are confirmed.

Frik Els | July 25, 2012 | 7:40 pm

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