Top 10 gold producers: Indonesia leaves 31 tonnes underground
The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.
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:
Alrosa IPO may be receding in the distance just as Russian rock star hits the sweet spot
The world's number one diamond miner does not seem to be in need of cash. Too bad, direct exposure to diamonds has always been hard to come by and the diamond business' fundamentals continue to improve.
FT: ‘Inbred’ miners may admire Hannam, but many not ‘too sad’ to see him go
"Resources groups and the bankers who promote them merit close scrutiny since minerals have been linked in the past with financial scandals and market manipulation, from the nickel bubble that captivated the City in the 1960s and ended in the Poseidon crash, to the Hunt brothers’ cornering of the silver market in 1980."
Investors looking for answers about Diavik dig a hole into Harry Winston stock
Diavik is supposed to transform into an underground operation this year and Harry Winston's partner on the project, Rio Tinto, wants to exit diamond mining, but the luxury retailer could not provide any guidance on the way forward. Investors responded by giving Harry Winston a 5% kicking.
‘Shocking’ trade numbers have some Australians calling the end of the mining boom
The commodity price cycle peaked in the third quarter of last year.
Valemax No. 8 has not even loaded its first ore and it’s already worth 36% less than it cost
According to website VesselsValue.com the latest Valemax is worth 36% less than the $107 million the Brazilian iron ore titan paid for it last year because of a "slump in values of dry-bulk ships that were ordered before returns plunged."
Precious metals investors taking big knocks adjusting to life without QE3
Gold dropped more than $57 or 3.4% an ounce in early afternoon trade while ever volatile silver tanked more than 6%. Platinum crashed through the $1,600 an ounce level and palladium fell almost 4%.
Botswana braces for De Beers relocation, diamond buying jet set
The relocation of the mining giant's sales and marketing arm's headquarters to the Botswana capital could lead to around $6 billion flowing though the country’s banking system, compared to the $2 billion or so the country earns from rough sales at the moment.
Newmont could restart $4.8 billion Conga before June
President Ollanta Humala’s administration wants the the South American nation's highest court to throw out an ordinance by the region of Cajamarca banning work on the $4.8 billion copper-gold project.
Gold tanks after Fed backs away from QE3
Contract gold dropped almost $40 an ounce in a matter of minutes in lunchtime trade after comments from the US Federal Reserve that seemed to preclude any chance of another round of monetary easing.
Value of EV battery nickel second highest on record, cobalt at 30-month high
Low LFP-penetration markets, Europe is off to the races in 2025 and US buyers pull forward purchases before subsidies end.
