Frik Els , Editor

At least 30 coal carriers with unsold cargo floating off China’s coast

The drop-off in demand, exacerbated by high inventories thanks to a mild northern hemisphere winter and a surge in US exports have led to a collapse in thermal coal prices.

Frik Els | June 5, 2012 | 11:21 pm

Huge setback for Rinehart and Reddy empires

Australian environment minister Tony Burke decided on Tuesday to "stop the clock" on Hancock Prospecting and GVK's Alpha coal project despite approval from the state of Queensland given last week.

Frik Els | June 5, 2012 | 5:10 pm

Maybe dirty, certainly cheap: Canadian crude crashes through $60 a barrel

A $40 discount to the global oil price, competition from Bakken shale oil, rising labour costs, pipeline problems and overproduction put in jeopardy billions of dollars of oil sands projects.

Frik Els | June 5, 2012 | 12:13 am

Gold rally loses steam

After a dramatic trading day on Friday when gold shot almost $60 an ounce higher, Monday turned out to be soggy affair for the precious metal with no fresh news to drive the market.

Frik Els | June 4, 2012 | 7:21 pm

Global growth shocks drop copper to 2012 low

Copper suffered another sharp drop in New York on Friday with traders reacting to bad economic news from the US in the form of dismal jobs numbers, a crisis in Europe that seems to be stressed to breaking point and a steep drop-off in growth in China, Brazil and India.

Frik Els | June 1, 2012 | 8:25 pm

Gold gaps higher after dismal US jobs numbers and fresh Spanic

The raft of bad US economic numbers this week that culminated in the terrible employment report this morning, combined with the stream of bad news emanating from Europe, saw the gold price jump more than $50 an ounce on Friday.

Frik Els | June 1, 2012 | 5:07 pm

Neo Material Tech shareholders agree to Molycorp takeover, but what they really wanted was the cash

Under the terms of the deal Neo Material stockholders had the option to either receive cash or shares in Molycorp, but so many chose the former option that it exceeded the maximum cash amount that could be paid out to them.

Frik Els | May 31, 2012 | 9:55 pm

Highland raises $16.5 million for Upper Peninsula copper properties

Micro-cap Highland Resources added 28% to trade at 9c on Wednesday on higher than usual trading volumes, after announcing it has closed the final tranche of its non-brokered private placement, raising a total of $16.5 million.

Frik Els | May 31, 2012 | 7:15 pm

Outer Harbour 1, Olympic Dam-Jansen 0: BHP gets final approval for $20 billion iron ore expansion

There are "growing signs" that Outer Harbour  will take precedence over BHP's massive Olympic Dam project and the greenfield Jansen potash venture in Canada.

Frik Els | May 31, 2012 | 6:29 pm

Why isn’t this copper miner smiling? He’s getting a $45 million bonus just for staying on

In all $265 million will be doled out to senior management at Xstrata to stop them from jumping ship after a merger with Glencore. The two companies are also paying $200 million to their advisers to push the deal through.

Frik Els | May 31, 2012 | 5:36 pm

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