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:

Potash from waste producer makes Canada market debut

Shares in Organic Potash Corporation commenced trading on the Canadian National Stock Exchange on Monday under the symbol "GOP". Organic Potash Corporation's focus is on the production of potash from the ash of agricultural waste – specifically cocoa husks – at a facility being constructed in Ghana with a 40,000 tonnes annual capacity.

India fails to enter brave new world of iron ore trading

India’s iron ore exports could halve over the next five years as the country feeds the expansion of its steel industry and resource nationalism becomes a big driver of policy in Delhi. Lower shipments from India, which exports almost half the 200 million tonnes it produces, should help bolster prices that have more than tripled in three years before massive Australian projects come on stream around 2014. The global trade in iron ore which not long ago featured antiquated annual contracts and secretive pricing has been transformed and Singapore will this week launch the first global iron ore futures contract.

40 years after dropping gold standard bugs feel vindicated but some fear party is over

Spot gold dropped one percent on Friday in Asian trade, extending losses from a fall of 1.6% in the previous session as risk appetite revived after reassuring US jobs data soothed anxious investors, but bullion remains poised for its best week since February 2009. CNBC reports as gold futures briefled topped a record $1,800 traders that are long gold began to get nervous that they were behind a trade that may not have any potential new buyers left. Reuters reports the surging price of gold is a vindication for the world's gold bugs 40 years after US President Nixon announced the abandonment of the gold standard – the anniversary is on Monday.

Molycorp sells 50 times more rare earth oxides

Rare earths miner Molycorp on Thursday swung into profit in the second quarter as it ramped up production at Mountain Pass, California, once the world's largest supplier of the sought-after elements used in anything from iPods to stealth helicopters. Net income came to $48.8 million compared with a loss of $23.3 million a year ago. Revenue came in just shy of $100 million, compared with only $1.9 million a year ago. Commenting on the results the company said global demand for rare-earth elements remains "very high" and supply outside China, which controls more than 95% of world output, is tight.

Odds against oil sands projects rapidly stacking up

Recent developments are rapidly stacking the odds against Alberta oil sands: the oil price has fallen 20% in one month, the gap between US crude and world prices hit a record on Wednesday above $24, the premium syncrude enjoyed in recent months is melting away and Canadian heavy oil's discount to US crude has widened to $15. The question now is how many of the $100 billion of oil sands projects in various stages of development will be completed or run at a profit when Canadian crude only attracts $60-$70 a barrel and could go lower. Sky-rocketing labour and equipment costs and a rising loonie could well turn out to be the proverbial last straw.

Innovative documentary shows zinc mining town being ‘erased’

The Web documentary "Welcome to Pine Point" by combining video, photographs, text, music and narration and then blurring the boundaries among them, pushes storytelling and documentary filmmaking into new territory. "Welcome to Pine Point" is the story of a small lead and zinc mining town in Canada's Northwest Territories that physically disappeared from the map after the mines closed in 1988. The first buildings were erected in 1952 and at its peak it had 1,200 inhabitants.

Revett reports record second quarter earnings

Revett Minerals announced on Thursday record quarterly revenues of $18.8 million, a 102% increase compared to the same period last year. The Company also increased its cash and cash equivalents on hand at the end of the second quarter to $14.7 million from $8.8 million at the beginning of the year. For the three months ended June 30, 2011 the Company had net income of $7.9 million or $0.23 per share. These record results are due to higher metal prices, significantly improved metal grades, and higher metallurgical and operating efficiencies.

Imperial, Exxon oil sands equipment run off Idaho, Montana roads

Imperial Oil  and Exxon Mobil Corp  said on Monday they have revised plans to ship massive pieces of oil sands equipment on US highways through Idaho and Montana after legal challenges and protests forced delays. The two companies have spent months battling conservationists and residents along the Clearwater and Lochsa rivers in an attempt to move the two-lane-wide 'megaloads'. They will now try to dismantle the shipments and move them in smaller loads on bigger highways at a cost of some $70 million and the possibility of further delays for their $11 billion Kearl oil sands project.

Labrador Iron Ore Royalty split staples hardly moved by steep net income drop

Labrador Iron Ore Royalty Corporation, owners of a 15% stake in the Iron Ore Company of Canada, said it earned second-quarter net income of $48.2 million or 75 cents per unit from its investment, down from $69.3 million or $1.08 per unit in the same 2010 period. The company's stapled units started trading on a 2:1 split basis on the Toronto Stock Exchange on June 28, 2011 and lost 10c to close at $32.01 in Toronto on Wednesday. Investors have put a value of $4.1 billion on the company.

Allana Potash names new chair, applying for Toronto main board

Allana Potash said on Wednesday it has appointed Mark Stauffer, previously president of the Potash and Phosphate Institute of Canada, as chairman and is applying to move its listing to the Toronto main board. Up 80% since the start of the year stock in Allana, advancing a project in Ethiopia was trading steady on Wednesday amid the market turmoil. The company has announced a string of discoveries at its 160 square km Dallol project in Ethopia in recent months.
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