Frik Els , Editor

FT: ‘Inbred’ miners may admire Hannam, but many not ‘too sad’ to see him go

"Resources groups and the bankers who promote them merit close scrutiny since minerals have been linked in the past with financial scandals and market manipulation, from the nickel bubble that captivated the City in the 1960s and ended in the Poseidon crash, to the Hunt brothers’ cornering of the silver market in 1980."

Frik Els | April 5, 2012 | 7:02 pm

Investors looking for answers about Diavik dig a hole into Harry Winston stock

Diavik is supposed to transform into an underground operation this year and Harry Winston's partner on the project, Rio Tinto, wants to exit diamond mining, but the luxury retailer could not provide any guidance on the way forward. Investors responded by giving Harry Winston a 5% kicking.

Frik Els | April 5, 2012 | 5:42 pm

‘Shocking’ trade numbers have some Australians calling the end of the mining boom

The commodity price cycle peaked in the third quarter of last year.

Frik Els | April 4, 2012 | 11:05 pm

Valemax No. 8 has not even loaded its first ore and it’s already worth 36% less than it cost

According to website VesselsValue.com the latest Valemax is worth 36% less than the $107 million the Brazilian iron ore titan paid for it last year because of a "slump in values of dry-bulk ships that were ordered before returns plunged."

Frik Els | April 4, 2012 | 10:07 pm

Precious metals investors taking big knocks adjusting to life without QE3

Gold dropped more than $57 or 3.4% an ounce in early afternoon trade while ever volatile silver tanked more than 6%. Platinum crashed through the $1,600 an ounce level and palladium fell almost 4%.

Frik Els | April 4, 2012 | 5:47 pm

Botswana braces for De Beers relocation, diamond buying jet set

The relocation of the mining giant's sales and marketing arm's headquarters to the Botswana capital could lead to around $6 billion flowing though the country’s banking system, compared to the $2 billion or so the country earns from rough sales at the moment.

Frik Els | April 3, 2012 | 9:50 pm

Newmont could restart $4.8 billion Conga before June

President Ollanta Humala’s administration wants the the South American nation's highest court to throw out an ordinance by the region of Cajamarca banning work on the $4.8 billion copper-gold project.

Frik Els | April 3, 2012 | 8:17 pm

Gold tanks after Fed backs away from QE3

Contract gold dropped almost $40 an ounce in a matter of minutes in lunchtime trade after comments from the US Federal Reserve that seemed to preclude any chance of another round of monetary easing.

Frik Els | April 3, 2012 | 7:20 pm

Why are Rio and BHP killing off their diamond divisions when demand is forecast to double by 2020?

The profit margin for diamonds is a far cry from 70% enjoyed by the mining giants' iron ore divisions.

Frik Els | April 3, 2012 | 2:21 pm

Mali is quickly turning very ugly: Separatists, Islamists seize Timbuktu

Tuareg rebels aided by Islamists ransacked bars, banned Western-style dress and music and called for the imposition of Sharia law.

Frik Els | April 2, 2012 | 9:29 pm

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