Europe Mining News

Look away from the US and gold prices are soaring higher

Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset.

Soviet collapse echoes in China’s Belt and Road

Like the Soviet Union in the 1970s, China is coming to the end of a long labor-force boom and hoping that an orgy of investment will keep the old magic going while stabilizing its fraying frontiers.

Electric car bets boosting nickel demand, Nornickel says

Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal.

Russia's richest lose $3.1B as tax plan hits shares

Russia’s super-rich tycoons lost more than $3 billion in one day.

CSN hires Jefferies to sell assets in Portugal, Germany -paper

The Brazilian steelmaker is also seeking to close a streaming deal next week with a Canadian bank for its mining output in coming years.

Egyptian copper's origin revealed

Two new studies reveal where ancient Egyptians got the red metal from.

While NLMK's Lisin warns against higher Russian mining taxes: Kremlin backs the discussion

Russian President Vladimir Putin agrees that a proposal to prop up the budget by raising more revenue from metals and mining companies should be discussed, but has not made any decision.

Codelco goes ahead with scaled-back underground extension of Chuquicamata

The $4.9 billion-investment is part of Codelco’s 10-year, $39 billion overhaul of its core mines.

Sunstone Metals to sell Scandanavian copper asset for $30.3 million

The two companies have just signed a non-biding letter of intent.

Glencore credits China's 'Blue Skies' program for strong H1

Protectionism could limit future growth.

Large diamond retailer drops 22% after cutting guidance

Pandora cuts expected revenue from 7 to 10 per cent to 4 to 7 percent.

Sole supplier puts cobalt (and EV) market at risk: IEA

For the International Energy Agency, having the Democratic Republic of Congo as the supplier of almost 60 per cent of the global production of cobalt is a risky business.

Canadian junior ready to start drilling for copper in Spain

Pan Global’s subsidiary Minera Águilas has received the necessary permits to start its exploration campaign on the first two sections of the Águilas project.

USTR reviewing Turkey's trade preferences after tariff retaliation

Imports of jewelry, precious metals and stone products would be under the microscope.

No love for KAZ mega copper project

Shares down by a third after London-listed miner pays $900m for Russian copper project that will take another $5.5 billion to build.

Canada's Kinross Gold puts Mauritania mine expansion on hold

Kinross Gold Corp said on Wednesday it was "pausing" expansion work at its Tasiast gold mine in Mauritania after a government request for talks to improve the country's economic benefits from the miner's activities.

Replenishing economic diamond resources, a daunting task for miners

Given that most of the high-economic diamond deposits in the world have already been put into production, diluted via expansion, or depleted, going forward the economics of diamond mines will inevitably gravitate towards higher-cost, lower-value operations.

EU regulators say Aurubis, Wieland copper deal may curb competition

EU antitrust regulators on Wednesday voiced concerns about German Wieland's bid for copper smelter Aurubis' flat-rolled products business, saying the deal may hurt competition.

LME to trial electronic closing prices for nickel next year

The London Metal Exchange (LME) launched on Wednesday a consultation to trial in the first quarter of next year the use of its electronic system to determine closing prices of the three-month nickel contract instead of open outcry.

Killed Russian journalists said to have been working on story involving mining in CAR

They were said to be investigating a private Russian security company operating in CAR as well as Russia’s interests in the local diamond, gold and uranium sectors.

Rio Tinto down despite $7.2bn cash return to investors

Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.

Glencore’s cobalt output up by almost a third thanks to Congo mines

Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.

Fresnillo soars despite profit drop on Silverstream revaluation

Silverstream valuation had an adverse effect on profit before income tax, which came down 16.6% to $323 million.

Turkish steel makers eye exports to West Africa amid US tariff setbacks

Turkey was looking to boost its trade with West Africa and sub-Saharan countries, where there is demand for the less capital-intensive steel products.

Caterpillar says tariffs will wipe out up to $200M

Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019.