Europe

Caterpillar profit beats estimates but sales fall

Cecilia Jamasmie | July 24, 2014
Caterpillar profit beats estimates but sales fall

Construction, not mining lifts the machinery giant's second-quarter results.

Old Welsh mine turned into giant trampoline park

Cecilia Jamasmie | July 24, 2014
Old Welsh mine turned into giant trampoline park

An abandoned 176-year old underground slate mine in North Wales has reopened, but as a gigantic trampoline theme park.

UN opens up more deep sea areas for mining, issues seven new licences

Cecilia Jamasmie | July 23, 2014
UN opens up deep sea for mining, issues seven new licences

State-owned and private companies from the UK, Germany, India, Brazil, Singapore and Russia are among those to benefit from the seabed regulator’s decision.

BHP Billiton wants bigger share of the iron ore market

Cecilia Jamasmie | July 23, 2014
BHP Billiton wants bigger share of the iron ore market

BHP’s major vote of confidence in iron ore proves the company trusts it can mine the bulk commodity for less than many rival producers, and thrive even in an environment of weakening prices.

Anglo American iron ore division earnings fall, but beat estimates

Cecilia Jamasmie | July 22, 2014
Anglo American iron ore division earnings fall, but beat estimates

Anglo's unit Kumba plans to almost double production by 2030.

De Beers changing its diamond sales model

Cecilia Jamasmie | July 22, 2014
De Beers changing its diamond sales model

The world's largest diamond miner by market value said it will adopt a more flexible sales approach.

London Metal Exchange traders fined for standing up

Cecilia Jamasmie | July 22, 2014
London Metal Exchange traders fined for standing up

Following a 19th century tradition traders today must sit on the red leather sofas arranged in a 20-foot diameter inner ring.

Diamond miner Alrosa's output down 16%

Cecilia Jamasmie | July 21, 2014
Diamond miner Alrosa's output down 16%

The world's No.1 diamond company by output also said its diamond production dipped in the first half of 2014 by 7%, standing at 15.9 million carats.

China's MMG board grants undivided approval for $5.85bn Las Bambas buy

Cecilia Jamasmie | July 21, 2014
China's MMG board grants undivided approval for $5.85bn Las Bambas buy

Las Bambas will be one of the world’s largest copper mines after it starts up in 2015, with annual output equivalent to more than twice the amount of copper MMG currently produces.

After winning the silver fix, CME goes for the gold

Cecilia Jamasmie | July 17, 2014
After winning silver fix, CME goes for the gold

The exchange would bid to be involved in a new process, which may turn the current twice-daily gold price-setting conference call into an electronic auction.

Cameco expects Australian regulator decision on uranium mine shortly

Cecilia Jamasmie | July 16, 2014
Cameco expects Australian regulator decision on uranium mine shortly

The company also said that ore from its Cigar Lake mine, in Canada's Saskatchewan, would not be milled until early 2015, instead by the end of the year.

London gold fixing firm seeks 3rd party to run benchmark

Cecilia Jamasmie | July 16, 2014
London gold fixing firm seeks 3rd party to run benchmark

The firm that operates the global price benchmark confirmed it has begun a request for proposals (RFP) process to find a new administrator for the fix.

New Potash Corp CEO keeps output tactics

Jeffrey Richmond | July 15, 2014
Potash feat

Last year's fertilizer price plunge called strategy into question.

Sirius delays application for $2.7bn potash mine in English national park

Cecilia Jamasmie | July 15, 2014
Sirius delays application for $2.7bn potash mine in English national park

According to the company, the mine will employ about 1,800 workers during construction and generate 1,000 permanent jobs once opened.

Cecilia Jamasmie

BHP sell-off could undo Billiton historic deal

Cecilia Jamasmie | July 13, 2014
BHP sell-off could undo Billiton historic deal

As BHP considers the sale of almost all of the businesses that Billiton brought to the 2001 merger deal, experts say the firm is likely to end up leaving London.

Gold near 3.5-month high on Portugal bank worries

Jeffrey Richmond | July 11, 2014
Gold stays near 3.5-month high on Portugal bank worries feat

Mideast violence, Fed rate stance, India duty also concerns.

CME/Thomson Reuters win race to replace London silver fix

Cecilia Jamasmie | July 11, 2014
CME/Thomson Reuters win race to replace London silver fix

The race to replace the 117-year-old London silver price fix is finally over.

Gold and silver shining bright—hit three-month highs

Cecilia Jamasmie | July 10, 2014
Gold and silver shining bright—hit three-month highs

Platinum and palladium were also dragged higher by gold.

Turkish miner, Lonmin to explore for gold, silver in Ireland

Today.Az | July 10, 2014

Turkish gold miner Koza Altın has established a wholly owned subsidiary in Britain to undertake mining activities abroad.

Job cuts coming to Antofagasta’s freshly combined copper operations

Cecilia Jamasmie | July 8, 2014
Job cuts coming to Antofagasta’s freshly combined copper operations

The copper miner controlled by Chile’s billionaire Luksic family, will cut jobs and costs through its new company Minera Centinela.

Diamond industry recovers place in miners’ hearts on climbing demand, prices

Cecilia Jamasmie | July 8, 2014
Diamond industry recovers place in miners’ hearts on climbing demand, prices

Sector now delivering some of the healthiest returns for many of the world’s biggest miners, including Rio Tinto and Anglo American.

CME/Thomson Reuters bid in lead for the silver fix— reports

Cecilia Jamasmie | July 7, 2014
CME/Thomson Reuters bid in lead for the silver fix— reports

The Chicago Mercantile Exchange/Thomson Reuters joint bid has emerged as the frontrunner to replace the current price process, which formally ends on August 14.

Silver above 15-week high on world tensions, investor confusion

Jeffrey Richmond | July 3, 2014
silver trades above 15-week high feat

Positive US jobs data released Thursday appeared to have little effect.

Glencore smashes claims it paid zero tax in Australia over last three years

Cecilia Jamasmie | July 3, 2014
Glencore smashes claims it paid zero tax in Australia over last three years

In an email to staff the company's coal chief executive, Peter Freyberg, revealed details of tax payments.

Randgold hoping for major discovery in Ivory Coast

Cecilia Jamasmie | July 3, 2014
Randgold hoping for major discovery in Ivory Coast

CEO Mark Bristow, who is hoping for one last major find before retiring.

Jellyfish numbers are rising and that's bad for coal, nuclear plants

Michael Allan McCrae | July 1, 2014
jellyfish power plant intake valves bloom feat

Jellyfish blooms and power plant intake valves don't mix.

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