Mike Obel

Senior News Editor
991-1020 (out of 1977)

Mike Obel works as senior news editor for International Business Times. Prior to joining IBT, he worked on the Finance Desk of The Associated Press in New York. He has also worked for United Press International in Dallas and Philadelphia and the Oil & Gas Journal. Mike has done freelance work for newspapers and worked in public relations, speech writing and communications for BP and ConocoPhillips.

Mike Obel

Grasberg Union to Extend Strike to Jan. 15

An Indonesian workers' union plans to extend a three-month strike at Freeport McMoRan Copper & Gold's Grasberg mine until Jan. 15, union official Virgo Solossa told Reuters on Saturday.

Indophil Resources Eyes Manilla Listing

Australia-listed Indophil Resources, which holds a 37.5 percent stake in Southeast Asia's largest undeveloped copper-gold prospect, said on Monday it was considering also listing its shares in the Philippines, where a key shareholder is based.

Higher Gold Output Cuts Mwana Africa 1st Half Loss

Mwana Africa reported a narrower first-half loss, driven mainly by a jump in production at its Freda Rebecca gold mine in Zimbabwe, and said it continued to be in talks with the government there about the issue of turning over a 51 percent stake to locals.

Gold Modestly Higher on Eurozone Treaty Plan

Gold prices eked out a small gain Friday after Eurozone leaders agreed to surrender some of their national fiscal sovereignty to prevent another debt crisis and U.S. economic reports signaled a growing recovery.

Zambia's Mining Royalties Could be Cut

Zambia, which said last month its 2012 budget would hike mineral royalties, could cut back those rates if commodity prices collapse next year, the mines minister in Africa's top copper producer said on Friday.

Nord Gold's 'Core' Earnings May Hit $600M - Severstal

Russian steelmaker Severstal's Nord Gold mining unit expects to achieve core earnings of $550 million to $600 million this year, Chief Executive Nikolai Zelenski said during a conference call with analysts on Friday.

Gold Edges up After Euro-Summit Appears to Succeed

Gold prices edged higher Friday after Eurozone leaders, in their eighth sovereign debt crisis summit this year, agreed to craft a treaty that will limit the ability of members to run-up unsustainable government debts.

Ghana Gold Town Yet to See Gains

Tucked away in Ghana's southern Ashanti region, Obuasi has all the trappings of a gold-rush town, including a statue of a miner painted in gold and a huge conveyor belt crisscrossing the city centre. But while rows of neat miners' cottages show some local gain from a commercial mining industry dating back to the 19th century, many of its residents complain they have yet to feel the full benefit of the riches buried beneath their feet.

Teranga Gold Cuts 2011 Gold Production Estimate

Teranga Gold Corp. expects its fourth-quarter fold production to be lower than expected and more costly than expected, causing its full-year output to be 130,000 ounces to 135,000 ounces rather than the 140,000 ounces previously expected.

Xstrata Stills Sees Value in Lonmin Investment

Global miner Xstrata said on Tuesday it still saw value in its investment in Lonmin , despite a significant underperformance in the platinum producer's share price against the sector this year.

Schroders Plc Prefers Cash and Gold, Not Equities

Schroders holds the lowest position possible in equities and has extremely high levels of gold and cash, reflecting its concern about recession in the developed world and a failure to resolve the euro zone debt crisis, its chief investment officer said on Tuesday.

Centerra Gold Shipping Supplies to Kyrgyzstan Mine

Centerra Gold Inc. resumed shipping diesel fuel and other supplies from the Kumtor marshalling yard in Kyrgyzstan to Kumtor mine after the voluntary lifting of the previously announced roadblock, the company said Tuesday.

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