Frik Els, Author at MINING.COM

China's central bank continues to stock up on gold

China’s gold output could fall 40 tonnes this year

Gold production in the country – the world's top miner of the metal – appears to be slowing and at the current rate output is set to fall below the 341 tonnes mined in 2010.

Frik Els | July 5, 2012 | 1:50 pm

Gold prices down despite upbeat US jobs numbers

China, EU and UK central banks ease. Gold slides. What’s it gonna take?

In short QE3 would great, but no QE3 will be disastrous. Perhaps today's move down is a sign gold traders are beginning to price in disappointment.

Frik Els | July 5, 2012 | 1:48 pm

Is Cow Mountain a golden calf? Barkerville stock corrects as doubts over bonanza find creep in

Massive trading volumes on Wednesday saw Barkerville Gold stock give up 25% over two days after some exploration analysts raised doubts about the 10 million ounces of contained gold at its Cow Mountain project in British Columbia first announced on Friday.

Frik Els | July 4, 2012 | 10:40 pm

South Africa’s new wave of strikes could ruin economy: President

Nationalization worries in South Africa, rating agencies may downgrade

On Wednesday, a day after after all three major global ratings agencies – Fitch, Moody's and Standard & Poor's – placed South Africa's credit rating on negative outlook, home affairs minister Nkosazana Dlamini-Zuma became the latest senior figure in the ruling ANC party to join a growing chorus calling for state control of mining.

Frik Els | July 4, 2012 | 9:22 pm

Iron ore price indicators all point up, but there's an (Indian) elephant is in the room

India looking at scrapping 30% iron ore export duty. Could bring 100 million tonnes back onto market

The export surcharge was raised on two occasions last year to 30% to keep ore inside the country for local steelmakers amid a mining ban in the state of Karnataka instated in July. That ban is now being lifted.

Frik Els | July 4, 2012 | 6:38 pm

Gold boosted by global stimulus talk and Iranian sabre-rattling

Gold for August delivery settled up $24.10, or 1.5%, at $1,621.80 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday, before turning slightly lower in after hours dealings.

Frik Els | July 3, 2012 | 11:29 pm

Glencore could be looking at First Quantum takeover

Copper market squeeze: It’s back!

On top of increased demand from China, the re-emergence of a trader controlling more than half of London Metal Exchange copper stocks and cash contracts could squeeze the market just as it did in April.

Frik Els | July 3, 2012 | 10:46 pm

The incredible shrinking merger: Glenstrata already worth $35 billion less

Knight Vinke is looking for a ratio of 3.25:1 similar to the demands of Qatar which last week pushed the $60 billion deal to the verge of collapse.

Frik Els | July 3, 2012 | 7:37 pm

'Having the balls' to grab Oyu Tolgoi said to be Albanese's greatest achievement

Investors stock up on Ivanhoe Mines before IVN disappears from the boards for good

Ivanhoe Mines was up 7.6% in afternoon trade on Friday after the company provided an update on its Oyu Tolgoi project in Mongolia and announced shareholders had approved a name change.

Frik Els | June 29, 2012 | 8:20 pm

Euroland bailout program spurs metals rally. Gold bumps up against $1,600

Base and precious metals continued to rally in New York trade after the EU moved "to break the vicious circle between banks and sovereigns" early on Friday.

Frik Els | June 29, 2012 | 5:20 pm