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Europe News Digest
Monday 23 October 2017
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Discovered in February last year in eastern Angola, the 404.20-carat rough diamond was also the largest found so far in the southern African country.

Red Kite, the largest metals hedge fund in the world run by UK Conservative Party donor Michael Farmer, is alleging that Barclays Bank attempted to rig the copper market through insider dealings with the London Metal Exchange.

Permit lets Bacanora go-ahead with its 35,000tpa (tons per annum) lithium carbonate operation in Mexico.

With the newly unearthed 34.17-carat diamond, Alrosa has hit an annual record in the number of large fancy-coloured stones found at its operations.

Russian miner posts another quarter of record production on the way to 2.8m ounces in 2019 as its $2.2 billion Natalka mine ramps up.

Chinese buyers are rumoured to be the key targets of the sale.

The Swedish firm is fine-tuning details for a group split that will see its mining, infrastructure and natural resources business trade as a new company in 2018.

Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.

Part of a coal mine in Turkey's southeastern province of Sirnak has collapsed, leaving eight workers trapped inside.

Deal allows the Stellar to focus on its bigger Tongo-Tonguma project in Sierra Leone, which would be the country's second largest diamond mine ever.

In one of the clearest signs of a tight cobalt market, Volkswagen has failed to secure a long-term supply of cobalt used in electrical vehicle batteries.

The metal has doubled in prices since late 2015 and investor demands are rising for this "hot commodity."

Researchers estimate that roughly 43 kg of gold — worth about $1.8 million at current prices — and 3,000 kg of silver (worth nearly $1.7 million) were flushed away last year.

Open Mineral Exchange has managed to attract mining companies and smelters wanting to cut out the middlemen and save cash on deals for concentrates.

The company says that labour disruptions in South Africa and the confiscation of a parcel of diamonds by the Tanzanian government are to blame.

The 709-carat rock is the second-largest ever found in the West African nation.

North American investors poured $2.5 billion into gold-backed funds in September despite pullback in gold price.

The Gakara mine holds some high-grade rare earth elements, some of which are expected to become essential for the manufacturing of batteries, magnets and electric vehicles.

The company will pay between $531 million and $956 million depending on the offer's level of acceptance by Volcan shareholders.

As the world’s premier precious metals equity event, the Gold Forum attracted 1,000 attendees who conducted a record 3,900 meetings.

Ken MacKenzie defended CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie's tenure was imminent.

The combination of spread stress and large flows of metal in the LME system suggests we've just witnessed a big bear-bull battle among physical players.

French firm has secured an eight-year contract to provide power cable and support services for the Mosaic K3 potash mine in Canada.

Britain's remaining coal-fired power plants could enjoy an 11th-hour revival in the early 2020s despite the Government’s drive to cut carbon emissions, if ministers choose not to risk raising household energy prices.

As a result of the permits, Glencore can acquire shares in companies Aluminium of Ukraine and Guardon Ukraine.

Guerra and Saboya, two of four competing candidates for the board, were nominated by Aberdeen Asset Management.

London's Court of Appeal opened the way for nearly 2,000 Zambian villagers can pursue a claim for damages.

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