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Europe News Digest
Saturday 24 June 2017
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Energy minister George Stathakis said the move aims to ensure the company respects its contractual obligations.

New appointments include Russian billionaire

South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.

The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”

The miner's Jubilee pipe is famous for its large finds.

More supply will likely drag prices lower, as the metal already touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10% this year.

Them mv SS Nujoma is the sixth diamond exploration vessel to join the fleet of Debmarine Namibia, a 50/50 joint venture between the government of that African country and De Beers.

It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.

Move seeks strengthening the firm’s position as energy markets recover.

The mine, which began operations last month, is expected to produce 600,000 to 700,000 tonnes of potash this year and 2 million tonnes per year once at full capacity.

The last time Gem Diamonds had had made a significant discovery at its Letšeng mine before April this year was in 2015.

The Swedish mining equipment maker is acquiring a 34% stake in Mobilaris MCE, which provides software to optimize underground operations.

Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.

Company called Pallinghurst Resources' bid “derisory”, adding it "clearly undervalues" the firm.

FLSmidth will be working with Goldcorp to develop EcoTails™, a new system to dramatically improve tailings and waste rock disposal.

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fifth sales cycle of 2017.

It’s a buyer’s market—if you know what you’re looking for.

The capacity of Metso's Tampere factories will be increased and occupational safety improved with the new production line for Lokotrack mobile crushing plants. The investment of approximately one million euros will significantly shorten the delivery times of equipment models put into line assembly production.

World leading diamond mining company looks to grow with DMCC and Dubai

Sellers and buyers of responsibly sourced, exceptional polished diamonds will be able to transact anonymously via the De Beers Auction Sales platform for the first time this month, when the exceptional polished stones auction is held on 29 June.

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