Europe Mining News

Diamond ring bought for £10 now worth thousands

The owner had no idea if the ring had any intrinsic value at all.

Rio Tinto launches new debt reduction programme

The company said that today’s announcement is part of its ongoing capital management plan.

BSGR may have to pay $1.2bn for no show at Simandou-related hearing

The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.

Heart-shaped diamond breaks record

The 92-carat diamond forms the centerpiece of a necklace of cultured pearls.

De Beers taps into polished diamonds market with first-time auction

The pilot auction, scheduled for June 29, will include a wide range of polished stones manufactured directly from the company’s own rough diamonds.

First Quantum to kick off massive $5.48bn copper mine in Panama in just months

Cobre Panama project is now 50% complete and on track to produce 320,000 tonnes of copper in 2019, making the company one of the world’s top six producers of the red metal.

AMC Consultants wants miners to learn about uncertainty

According to AMC, cumulate uncertainty, particularly when it comes to resource estimation, creates serious risks for mining projects.

De Beers diamond sales down by 11%

The world’s largest rough diamond producer by value said, however, it continues to see steady demand.

BHP’s Mackenzie, Elliot Management face off

US activist investor steps up pressure on BHP to ditch petroleum. Mackenzie says company already knows what to do to lift value by 50% and double return on capital.

London Royal Mint launches its first ever platinum bullion products

The Royal Mint has timed its first entry into the platinum bullion market to coincide with London Platinum Week.

Chinalco wants to be sole owner of world’s largest iron ore deposit

Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.

BHP ditching 'Billiton' in $10 million rebranding move

Move comes on the heels of calls from shareholders including activist investor Elliott Management and Australia’s Tribeca Investment Partners for a change of BHP's corporate structure.

Eldorado to take full control of Integra Gold as its expands to Canada

Move is part of an ongoing effort to strengthen its position in the home country, particularly around the gold-rich Eastern Abitibi region, in Quebec.

Lucara gets almost $18M for fragment of its massive ‘Lesedi La Rona’ diamond

The 373.7-carat diamond, sold during the Vancouver-based miner’s $54.8 million recent tender, was one of 15 large and high value diamonds offered by the company.

Global silver output falls for first time in 14 years

Global silver production dropped last year for the first time since 2002 driven by lower by-product output from the lead/zinc and gold sectors, as well as a sharp decline of scrap supply to the market.

KGHM says phase two of Sierra Gorda copper mine in Chile will never happen

The Polish company, Europe's second-largest copper producer, said that given current macro conditions the plan had lost sense.

Work starts on controversial North York Moors national park potash mine

Park authority confirmed Sirius Minerals has started building its mine.

Glencore puts Tahmoor coal mine up for sale

Market rumours point at South32 as the most likely buyer, since the miner decided last month to ditch its $200 million acquisition of Peabody Energy’s coal mine in New South Wales.

These were the top producing diamond mines in 2016

Here are the top 10 diamond mines in terms of output in carats and value.

Areva leaves Nunavut after uranium project rejection

The Kiggavik uranium project called for one underground and four open-pit mines just west of Baker Lake, and would have provided at least 400 jobs.

Gold price in the red after centrist Macron wins French election

Gold is trading slightly down from its Friday spot price close of $1,227.90, as investors digest the outcome of the recently-decided French presidential election.

A crude awakening: The global black market for oil

Today’s infographic comes from Eurocontrol Technics Group, and it highlights the global problem of fuel theft.

French elections, Brexit and gold

The main developments in Europe which may affect the gold market – except the turmoil in the still fragile banking sector – are a run-off in France and Brexit. Let’s analyze them and their potential impact on the gold prices.

Anglo’s sale of Drayton coal mine spooks horse breeders

They fear the buyer, Malabar Coal, may revive mining at Drayton, which they claim would have have severe impacts on the area’s profitable stud farms and wineries.

Another BHP investor pressing for oil spinoff, board shake-up

The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.