Frik Els, Author at MINING.COM

Oyu Tolgoi: Mongolia tosses ball into Rio's court

Investors asked to wait once again before they can get their hands on world’s largest met coal deposit

The privatization process will see Mongolia's government holding a majority 51% stake after selling 19% to investors and distributing the remainder to its 2.7 million citizens, but the $3 billion IPO faces fresh delays in Hong Kong.

Frik Els | February 24, 2012 | 10:32 am

Phew. Codelco wriggles out of 15-year deal inked at $1.50 a pound

China’s copper usage jumped 38% in October-November

During the first eleven months of 2011, global usage grew by only 2.7% over 2010, but accelerated in October-November to 12% due to an jump of 38% in China.

Frik Els | February 23, 2012 | 8:39 pm

Gold price comes roaring back as Iran sabre-rattling intensifies

Gold's recent move higher to within sight of $1,800 an ounce for the first time since September is tracking that of oil which is trading at a nine-month high on tensions between the West and Iran. Gold futures have gained $185/oz so far this year.

Frik Els | February 23, 2012 | 7:34 pm

Hedge funds raise bearish gold price bets by 44%

European Goldfields and Eldorado tie-up: At last investors can cheer news about Greece

The $2.5 billion deal saw European Goldfields add 6.4% in afternoon trade on Tuesday while Eldorado gained 6% to bring their combined market value to $10 billion.

Frik Els | February 21, 2012 | 9:02 pm

A new kind of hyperinflation: Zimbabwe hikes mining fees by as much as 8,000%

The Zimbabwe Chamber of Mines says the government's hike of pre-exploration fees for the majority of minerals – by as much as 8,000% – together with increased royalty rates will cripple the industry.

Frik Els | February 20, 2012 | 9:04 pm

Who’re you calling dirty? Canada says would take Europe to WTO over oil sands

Canada is upset about an EU energy panel's plans for a green ranking of fuels that would rank Alberta's heavy oil as the globe's most polluting and effectively ban the import of oil sands crude into the bloc.

Frik Els | February 20, 2012 | 7:07 pm

Not a pipe dream: Cenovus ships first crude to China, happy to get $40 a barrel more

Cenovus last week shipped 250,000 barrels to China, locking in relationships with refiners there, as the Northern Gateway pipeline project in Northern BC languishes in regulatory review.

Frik Els | February 16, 2012 | 12:38 am

First Uranium needs to offload 150,000+ oz yearly gold production by June to stay afloat

Rising costs could make any interested buyer baulk at the idea though. Cash costs in South Africa at its Ezulweni mine has rocketed to $2,143/oz and were up 20% at Mine Waste Solutions although at $613/oz there you could still turn a profit .

Frik Els | February 15, 2012 | 10:00 pm

Everyone wants a piece of Northland

The company, advancing iron ore projects in Sweden and Finland, decided to increase the size of the equity offering announced earlier in February due to "high demand" . Together with a fully subscribed bond offering the company is now raising close to $700 million.

Frik Els | February 15, 2012 | 9:16 pm

Canadian crude falls to $50 below global price

Keystone XL is the comeback kid

Republicans in the US Congress are once again attempting to force through the approval of the Keystone XL project, while the pipeline's backers TransCanada says it could receive approval early in 2013.

Frik Els | February 15, 2012 | 12:43 am

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