Iron ore hits a wall
After staging an impressive comeback from October's lows, the rally in iron ore prices seems to have run out of steam.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Osisko bogged down at same Argentina project where Barrick came unstuck
Osisko Mining on Monday said the company's Famatina project in La Rioja, Argentina, remains stalled almost a month after protesters began blockading the site and marched on the governor's office and in the capital Buenos Aires, sending its stock down 3%
Australia dumps trucks: Nov-Dec mining machinery imports dropped 62%, suggesting no-one’s immune
Australia's mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country's largest freight forwarders of heavy equipment.
Forget gold, IRON ORE is the story of the decade
On the last day of Roundup, Vancouver's mining showcase, Sandy Chim CEO of Canada's Century Iron Mines, flashed a few slides about China, India and the iron ore market that would make gold bugs green with envy.
Anglo defends itself against ‘criminal accusation’ as mud flies in fight with Codelco
Anglo-American in its increasingly acrimonious fight with Codelco on Thursday had to defend itself against what it termed "the criminal accusation" made by the president of the Federation of Copper Workers in Chile who sits on the Chile’s state-owned copper giant board.
Gem’s rock star mine produces record number of big stones, but prices per carat fall 23%
Gem Diamonds on Thursday reported record annual production at its flagship Letšeng mine in Lesotho and continued to polish its reputation as the world’s richest source of exceptionally large diamonds, but prices per carat fell 23% compared to a year ago.
Dr Caterpillar’s (excellent) prognosis for mining
With revenues of $60 billion last year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector than Caterpillar.
But what is it saying about the outlook for 2012?
Detour jumps after upping reserves and raising $1.45 billion to build Canada’s largest gold mine
Detour Gold added $1.80 to $28.40 or 6.7% on Wednesday after announcing bought deal financing led by BMO Capital Markets and CIBC worth $241 million. The latest round is enough to complete its $1.45 billion Ontario project for which it also announced improved reserves estimates.
No news is good news: Aurizon up 10%
Aurizon Mines (TSE:ARZ) jumped more than 10% on Wednesday despite the absence of fresh news. The cash-rich Quebec miner earlier this month announced a record year for gold production and strong growth prospects and 2012 is expected to be a busy year for gold M&A activity.
Open season on Kinross: First a downgrade and legal probe, then someone drops $72 million on it
Kinross Gold was taking more punishment on Wednesday morning after its stock was downgraded and US securities litigation firm Holzer Holzer & Fistel announced it is investigating potential violations of federal securities laws by the miner over gold grades at its Tasiast property. Then at 13:30 the stock popped into positive territory after a single trade worth $72 million went through.
US rare earth stock cracks top 50 mining companies for the first time
Non-Chinese rare earth producers have been conspicuously absent from mining’s top tier, now worth a collective $1.5 trillion, up $200 billion year to date.