Frik Els, Author at MINING.COM

GFMS says gold hedging is a peripheral issue. Others not so sure

Moderate net hedging by gold producers is expected for the full year, but GFMS-SocGen stressed that it did not mean a shift in management attitude towards hedging.

Frik Els | June 15, 2012 | 5:38 pm

End of an epoch as Hong Kong exchange takes over 135-year old LME

The three losing bids were all from the US and the deal marks a decisive shift in the commodities trading business away from Chicago and London to Asia.

Frik Els | June 15, 2012 | 1:57 pm

Thermal is wrecked: Chinese inventories climb to 2008 financial crisis levels

In China’s Qinhuangdao, the world’s largest coal port by capacity, inventories have exceeded levels last seen in late 2008 during the height of the financial crisis.

Frik Els | June 14, 2012 | 9:20 pm

Scathing report calls India’s 2,600 mines ‘out of control’

Illegality in the mining sector has deprived state governments of badly needed revenues, threatened the industry with costly and unpredictable shutdowns, and generated political chaos that helped bring down two state governments in 2011 and 2012.

Frik Els | June 14, 2012 | 6:11 pm

Gabriel Resources uncertain about future of its Romanian gold project

Bloodletting at Gabriel Resources over latest Romania setback

Shares in Gabriel Resources were hammered again over the latest Rosia Montana shambles, dropping 6.9% on Thursday. Its losses for the week now top 15% and it also received the dubious honour of being included in the S&P TSX grouping of most volatile stocks.

Frik Els | June 14, 2012 | 3:39 pm

BEAR GRIP: 9 ways 2013 changed gold for good

Small and medium-sized miners: It’s time to dust off your hedge book

A hedging u-turn is in the making.

Frik Els | June 13, 2012 | 9:15 pm

BHP’s already eye-watering Olympic Dam expansion bulked up again

World number one miner BHP Billiton on Wednesday bought additional exploration plots near its Olympic Dam mine and $30 billion expansion project.

Frik Els | June 13, 2012 | 2:01 pm

Rising chorus for stimulus takes gold to 5-week high

The Fed's new near-zero interest rate policy and purchases under QE1 kicked off on 16 December 2008. On 15 December 2008 an ounce of gold cost $837.50.

Frik Els | June 12, 2012 | 6:50 pm

Great Barrier Reef coal mine turning into Australia’s Keystone XL

Greenpeace takes out ads saying investing in the mega-mine is "risky business" and calls into question the ability of India's GVK to pull off the project as the group "has never built a mine in Australia." State and federals officials call the campaign "deplorable and obnoxious." And that's just this week.

Frik Els | June 12, 2012 | 5:41 pm

Dr Kloppers took home $15 million last year. How is the sypercycle turning out for you?

The 49-year-old boss of the world's largest mining company took home £9.8 million ($15.2 million) last year including bonuses, pension contributions and stock options.

Frik Els | June 12, 2012 | 2:30 pm