Frik Els , Editor

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

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A coal mining permit issued in Alaska 21 years ago — but not utilized until recently — has been ruled as no longer valid by a US federal agency because the Alaska DNR “erroneously transferred and renewed invalid permits."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

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

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