Frik Els , Editor

Prospecting in Queensland just got much more expensive

The Australian reports the Queensland government is going after speculative prospecting by what the state treasurer termed two-dollar shell mining companies, slapping the industry with $375 million in additional fees. Under the radical new rules competitive cash-bidding auctions for mining exploration permits will replace the flat $1,030 application fee in force currently.

Frik Els | January 13, 2012 | 7:55 pm

Patriot Coal down 12% after idling three met mines citing weak global demand

Patriot Coal was beaten down more than 12% on Friday after announcing it will cut production of coking coal due to weakening global demand.

Frik Els | January 13, 2012 | 6:30 pm

Iron ore prices: Vale’s force majeure, cyclone Heidi vs China slowdown

Reuters reports spot iron ore was trading close to seven-week highs after a cyclone closed down the world's largest export terminal in Australia and heavy rains in three Brazilian states halted Vale's shipments.

Frik Els | January 12, 2012 | 10:41 pm

Cadmium is the new lead: jewelry removed from Target, Saks, Gap and others

The Washington Post reports in a move reminiscent of the crackdown on lead in toys, more than a dozen major retailers including Target, Saks and Gap, are voluntarily halting sales of jewelry that contain more than trace levels of cadmium, a byproduct of zinc mining.

Frik Els | January 12, 2012 | 6:40 pm

LME says sell-out decision February as 2011 contracts value surges 33% to $15 trillion

Reuters reports the London Metal Exchange has been approached by several   potential bidders and will consider takeover proposals in late February according to its CEO. The LME handles some 80% of global trade in metals futures and a takeover will help the the 134-year old trading floor to compete against rapidly-expanding Asian metal trading hubs.

Frik Els | January 12, 2012 | 2:45 pm

Hecla must shut down Lucky Friday for entire year, stock down 20%

US mine safety authorities on Wednesday ordered Hecla to shut down the silver shaft at its Lucky Friday mine for the rest of the year following a rockburst in December and a string of accidents, two of them fatal, at the Idhaho mine during 2011.

Frik Els | January 11, 2012 | 2:40 pm

Thanks for not suing mommy like your brother and sisters: Rinehart gifts daughter (25) one of mining’s top jobs

The richest woman in the world, Gina Rinehart, on Tuesday handed her daughter Ginia (sic) directorships of three companies, including Hancock Prospecting which controls her $10 billion empire. Ginia who is 25 years old is the only one of Rinehart's four children who are not currently suing her in court in a bitter dispute over control of the family fortune.

Frik Els | January 10, 2012 | 10:44 pm

Codelco now seeks ‘forced enforcement’ of Sur option, compensation from ‘erratic’ Anglos

Chile’s state-owned copper giant on Tuesday turned the screws further on Anglo-American in its bitter fight over a 49% stake in Anglo-American Sur, one of the world's richest copper deposits.

Frik Els | January 10, 2012 | 8:30 pm

India takes another stab at buying into Belaruskali, won’t talk contracts with other producers until July

Indian officials will visit Belarus later this month to restart negotiations to buy a stake in the ex-Soviet country's state-owned potash producer after suspending contract talks with Canadian and other producers until July.

Frik Els | January 10, 2012 | 7:12 pm

Kicked out of small town motels, Australia’s ‘coal girls’ resort to RV parks

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns and motel and hotel owners are kicking out prostitutes using their rooms to ply their trade.

Frik Els | January 9, 2012 | 7:27 pm

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