Europe Mining News

An inside look at the world's biggest paper gold market

Every day, there are a whopping 5,500 tonnes ($212 billion) of gold traded in London, making it the largest wholesale and over-the-counter (OTC) market for gold in the world.

Centerra Gold charged $98M fine for environmental damage in Kyrgyzstan

Fresh string of penalties are one of the latest signs of renewed tensions between the Kyrgyzstan government and the Canadian miner.

Centerra Gold fined for environmental damage in Kyrgyzstan

Ruling is one of the latest signs of renewed tensions between the Kyrgyzstan government and the miner, which have been locked in a bitter dispute over profit sharing for years.

Blackrock backs Bacanora Minerals with $11 million investment

The move by the world's largest asset manager shows increasing interest in the lithium market.

Alrosa vice president Andrey Polyakov assumes world diamond council's presidency

The World Diamond Council brings together representatives of the entire international diamond industry supply chain, from mining through retail.

'Oppenheimer Blue' diamond sets new record, fetches $57 million

It’s now the most expensive diamond ever sold at an auction.

Harvard, IMF economist: Emerging markets must go for gold

If all central banks were to hold at least 5% of forex reserves in gold (versus 60%+ in rich economies) it would require the purchase of almost 8,000 tonnes

Prospect generation – making mining into a numbers game

A concept born from two facts: mineral exploration is extremely capital intensive, and just 1 out of 3,000 mineralized anomalies became a mine.

Sandvik reinvents top hammer drill bit design

Solving a problem a customer experienced when drilling in abrasive rock conditions has led to a groundbreaking new design for drill bits.

Rio Tinto forges ahead with Simandou, the world's largest mining project

The massive Simandou project, in Guinea, is considered the world's biggest untapped iron ore deposit.

Australian company plans coal mine in Poland

Australia's Prairie Mining has confirmed its intention to open a coal mine in southeast Poland by 2023, saying it was confident the $632 million (558 million euro) project would be profitable, a report said Monday.

China’s ICBC buys giant London gold vault from Barclays

The deal, due to close in July, will make ICBC Standard the only Chinese bank to operate a vault in London.

Eldorado Gold to sell remaining assets in China to Yintai Resources for $600 million

The deal marks the end of Eldorado’s reign in China.

KGHM delays expansion of flagship mine in Chile, shares jump

Shares in Europe's second-largest copper producer jumped as much as 4.7% on Monday after posting earnings at overseas units that helped the Polish miner beat analysts estimates for the first-quarter profit.

Gold demand just had a major growth spurt

Negative interest rates and slow growth have fuelled investors' demand for gold in record-breaking fashion.

This new silver application may push demand, prices even higher

Silver nanowires can be used to produce flexible screens in a cheaper, less energy-intensive manner, a new study shows.

Ivan Glasenberg's advice is buy not build, but rival miners aren't listening

Glencore's boss has consistently spanked his competitors for wasting and ultimately popping the now deflated long resources boom through a suicidal splurge on growth that took no account of demand and pricing.

Swedish Bronze Age axes made with copper from Cyprus

Ancient bronze tools unearthed in Sweden were made using copper from the Mediterranean, showing there was trade between the two cultures, archeologists have found.

Russia approves plan to sell stake in diamond giant Alrosa

The miner, along with fellow Russian firms Rosneft, VTB Bank and Bashneft are among the most likely candidates for privatization this year.

Coal miners welcome report that calls for imperative 2˚C climate target

The report considers how the use of coal contributes to affordable energy prices, and allows broader access to electricity and improved industrial competitiveness of economies in various regions.

Euro Mine Expo takes gender diversity seriously

When the conference at Euro Mine Expo starts on the 14th of June, Skellefteå, Sweden, it is with a quite unique speaker list compared to mining conferences in general.

Metso one of the top five mining suppliers in Chile

The company has been awarded first place in the Best Performance Supplier category in the mineral processing segment for the fifth consecutive year

Miners going broke – worst still to come

New report says mining and metals companies set to default on debt at more than three times the historical rate going back to 1983.

Intrepid Potash idles US mine, lays off hundreds

The Denver-based potash miner is placing its West facility in New Mexico in "care and maintenance” beginning July.

Lucara’s Constellation diamond sells for record $63 million

The record sale is likely to ramp up speculation about how much a second Lucara diamond — the "Lesedi la Rona" — will fetch at auction next month.