Europe Mining News

China snaps up $4.5bn worth of overseas mining assets in just six months

Most of them have been after existing operations and companies, rather than trying to build mines from scratch.

Petra Diamonds results beat expectations on strong sales, production

Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.

7 signs that the gold market remains resilient

Gold and silver prices ran out of momentum during the first week of July and have been drifting lower ever since.

Fresh wave of Chinese firms to go after Congo’s riches — report

Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.

Heavy snowfall in Chile forces Anglo to cut annual copper target

Shares plunged after miner revealed that output fell almost across the board in the April – June period.

Mick Davis to overhaul X2 Resources as fund fails to close any mining deal

Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.

Structural problem forces London Metal Exchange to relocate

Traders are momentarily based at a windowless disaster-recovery site in Chelmsford, east of London.

Sandvik signs agreement to divest its Mining Systems operations

Sandvik has signed an agreement to divest its Mining Systems operations, reported in the Sandvik income statement as discontinued operations, to the private equity company CoBe Capital.

This mining company is keeping a rare fish from extinction in Mexico

British Gypsum is supplying the only element able to keep the mineral balance of the water just right for the peculiar needs of the checkered pupfish.

Luleå University of Technology invests In Virtalis VR Technology

With 90% of the iron ore in Europe contained within Northern Sweden, it’s not surprising the Luleå University of Technology is a hub of mining and geological expertise.

China signs long-delayed potash deal with Belarus at 30 pct less than last year’s price

Analysts see the long-awaited deal to sell potash to Chinese buyers as good news for the beleaguered sector, even though the agreed price is dramatically lower than last year’s.

Diamond giant Alrosa unearths massive 214.65-carat rock

It measures 42.11 by 34.26 by 16.07 mm, and is translucent with a grey hue.

Metso divests its head office property

Metso has today sold its head office property located at Fabianinkatu 9, Helsinki, Finland, to Genesta's Nordic property fund, for a debt-free price of EUR 19.6 million.

Glencore to sell Australian coal train fleet within 3 months

It expects to fetch between $755 million to $1.1 billion for the nine trains, which carry coal from mines in NSW to port operations on Australia's eastern seaboard.

Gold price rally helps producers climb world’s top 25 mining companies list

Study shows there are more bullion miners among higher market capital ranking of mining companies in second quarter of 2016 than a year a go.

Russia gets $813m for stake in diamond company Alrosa

The sum obtained after selling 10.9% of the state-controlled diamond producer will be used to cut budget deficit, the government said.

China, Russia mull setting joint gold mining fund

The new investment fund would focus on financing gold mining projects in eastern Russia.

Deutsche Bank ditches coal investments

The German banking giant is the last lender to pull back from the embattled coal sector.

De Beers Canada moves from Toronto to Calgary

The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.

Chinese fund eyes Glencore gold mine in Kazakhstan

China’s state-backed Silk Road Fund is said to be considering a joint $2 billion bid with China National Gold Group for the Vasilkovskoye mine.

Gold hits fresh two-year high as UBS declares the start of new bull run

Analysts say the metal likely to reach $1,400 shortly and settle in the second half of this year, averaging $1,340 an ounce.

Sandvik Mining and Rock Technology showcases next generation mining equipment and services at MINExpo

Sandvik introduces innovative new products and services that help customers to improve safety and productivity even further, with emphasis on total cost of ownership, scalable automation packages, availability of service and parts and inherent product safety.

Illegal gold trade in Congo still benefiting armed groups, foreign companies

Illegally acquired and exported gold from the mineral-rich eastern Congo keeps filling the pockets of some foreign companies as well as armed groups, a new report shows.

Brexit, silver, bonds, deflation — beyond the hype

I don’t want to be too flippant with dismissals of inflammatory market events like ‘Brexit’ as simply hype.

Here’s why silver is shining brighter than gold

Silver prices rose Monday as much as 6.9% to an intraday peak of $21.132 an ounce, its highest value since July 2014.