Frik Els , Editor

Randgold: Funding dearth means more junior gold consolidation

Speaking in an interview with MiningWeekly, CEO Mark Bristow said he expected deal making in the junior gold space to continue, as funding sources dry up.

Frik Els | December 5, 2011 | 2:56 pm

Gold Fields CEO says not averse to M&A to ramp up to 5 million ounces

BusinessLive reports Gold Fields, the world's fourth largest gold producer, is not averse to merger and acquisition activity but will not rely on it, said CEO Nick Holland on Monday. The company, which continues to target five million ounces in development or production by 2015, has spent the last two years aggressively growing its production.

Frik Els | December 5, 2011 | 2:15 pm

Global Witness leaves ‘diamond laundering’ Kimberley Process, calls Zimbabwe decision an outrage

The human rights organization – co-nominated for the 2003 Nobel Peace Prize for its work on conflict diamonds – said the decision to allow diamonds from Zimbabwe's rich Marange fields means the money that flows from there ends up in the pockets of the Robert Mugabe-aligned military's top brass who could use it to organize support to intimidate the opposition in the run-up to elections. Hundreds were killed and thousands of local miners were driven off claims when the Zimbabwe army seized control of the Marange area in 2008.

Frik Els | December 5, 2011 | 1:20 pm

First cracks in Northern Gateway opposition as BC First Nation backs $5.5 billion pipeline

CBC News reports a British Columbia First Nation has announced it's backing the Northern Gateway pipeline project to ship oil sands crude to the West Coast, despite fierce opposition from dozens of other groups in the area.

Frik Els | December 5, 2011 | 11:35 am

Gold Fields says has supplies for one week as Cajamarca unrest blocks Cerro Corona routes

In a statement released to the Johannesburg stock exchange Monday, Gold Fields Limited said that production at its Cerro Corona mine in the Cajarmarca province in Peru has to date not been affected by the continuing protest actions against Newmont Mining and Buenaventura's proposed Conga gold mine.

Frik Els | December 5, 2011 | 9:45 am

Report says half of China iron ore miners stop producing because of cheap imports

Interfax-China reports that about half of China iron ore miners – mainly small and medium-sized firms – have suspended production in the face of dwindling profit margins.

Frik Els | December 4, 2011 | 4:00 pm

Bullion has brought Soros fortune and prosperity, but now he’s just trying his luck

Forbes reports billionaire investor George Soros is placing a very particular bet on gold by buying $40 to $50 million in shares of a Chinese jeweler ahead of its $2.8 billion IPO. Founded in 1929 Chow Tai Fook is bigger than Tiffany’s and is named after founder Chow Chi Yuen and “Tai Fook” means fortune, prosperity and luck in Chinese.

Frik Els | December 4, 2011 | 3:48 pm

Police destroy roadblocks as basic goods shortages appear on day 10 of Peru anti-gold mine protests

Reuters reports protestors abandoned roadblocks on Saturday after police were called in to secure access for basic goods to Cajamarca on day 10 of the conflict over Newmont Mining’s proposed Conga gold mine in northern Peru.

Frik Els | December 4, 2011 | 10:59 am

Rio wants Canada’s uranium legal controls lifted

Rio Tinto's chief executive Tom Albanese said on Saturday that he would lobby Canada to ensure it was the operator of the Roughrider uranium project in Saskatchewan, despite legal hurdles, after its successful takeover of Hathor. At the start of December, Rio emerged the winner after beating out world number one uranium miner, Canada's Cameco, with a $643 million bid for the explorer.

Frik Els | December 4, 2011 | 9:44 am

Rio Tinto chief: one more year of $120-plus iron ore – then it’s over

Tom Albanese says "assumptions that the floor price would not go much below $120 a tonne might be valid next year but not long beyond that."

Frik Els | December 4, 2011 | 9:20 am

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