Europe Mining News

RBC wants over $7 million for job they didn’t do: Crew Gold

Canada's biggest bank is suing former client Crew Gold over a fee the lender claims it should have been paid by the mining company.

Kyrgyz law enforcement agencies search Centerra Gold’s office

They are looking into a dividend paid by Kumtor to Centerra in 2013, which the miner says complied with the country's laws and 2009 agreements governing the project.

Anglo American to sell Brazilian units to China Molybdenum for $1.5 billion

The niobium and phosphates division, which consists of mines, plants, processing facilities, chemical complexes and deposits, was one of Anglo’s more profitable businesses.

Big boost for world's top diamond miner

Moody's upgrades Alrosa credit, praising Russian firm's low-cost reserve base, technical mining expertise, solid liquidity and conservative financial policy.

Global oil supply could face 4.5 million barrels shortfall — Wood Mackenzie

Current oil oversupply could reverse within 20 years as low oil prices have forced pricers to slash spending on exploration and production, a report by Wood Mackenzie shows.

Eldorado Gold to sell Chinese mine for $300 million

Jinfeng produced 149,655 ounces of gold in 2015 and is expected to generate 95,000-105,000 ounces of gold this year.

Czech coal miner NWR on the verge of collapse as rescue talks freeze

NWR warned that unless the government and creditors agree on the firm's restructuring by Friday, it would have to consider filing for insolvency of OKD.

Metso keeps suffering from global mining slump

The Finland-base supplier posted a lower-than-expected quarterly profit and new orders, as miners are not spending much on grinding mills and crushers.

De Beers moving out of historic London HQ

The famous De Beers office at Charterhouse St., adjacent to the Hatton Garden diamond district, is one of the assets Anglo is considering to sell to cut its debt burden.

Uranium market is getting crushed

Uranium price falls to lowest since May 2005 as bearishness overwhelms the sector.

Kibali shines in record year for Randgold Resources

Kinshasa, the Kibali gold mine in the Democratic Republic of Congo was the star performer in Randgold’s portfolio of operations in 2015, exceeding its target by 7% to contribute 642 720 ounces to the group’s record production for the year.

Potash miners hit by increased competition, supply amid low prices

Analysts, companies expect prices to stay below 2015 levels for at least the next two years.

China launches yuan gold fix in bid to gain more influence in metal pricing

It is set twice a day based on a few minutes of trading by 18 trading members,

India says Kohinoor diamond belongs to Britain

The gem has been at the centre of a diplomatic row between India and the UK, with New Delhi arguing for decades that it should get it back.

Talking acquisitions and industry trends with Joy Global's product manager

Doug Eamer, Manager of Commercial and Product Management, talks about the firm's expanded hard rock line.

Deutsche Bank silver settlement: GATA vindicated

At 7:09 last evening, it was reported that "Deutsche Bank to settle U.S. silver price fixing litigation," which is a staggering admission of that very criminality of which I have been ranting, writing and opining for years now.

New director general to raise awareness of UK Salt Industry

The Salt Association is announcing the appointment of its new Director General, Philip Burgess as it raises the profile of the UK’s salt producers and actively promotes the need for scientific research to present a more balanced view on salt and its many uses.

Slow growth, production cuts, divestment expected for Europe mining sector

Analysts outline five key themes resources companies in Europe will have to deal with in the next few months.

Europe’s last coal mines struggle for lifelines

Europe’s last remaining coal producers, in the Czech Republic, Romania and Poland, are grasping for government support to keep from going under and taking thousands of jobs with them.

Glencore’s Optimum coal now in hands of S. African’s President family

Tegeta Exploration & Resources Ltd., controlled by the Gupta family and South African President Jacob Zuma’s son, is the new owner of optimum coal.

Alrosa forecasts brighter times for diamond sector

The Russian firm, which together with De Beers controls almost two-thirds of the diamond market, is being prepped for privatization.

Metso shapes the industry by introducing easier ways of buying, maintaining and operating aggregates equipment

Metso continues to meet its customers' needs and to shape the industry conventions by expanding its services offering for the aggregates industry with unique Life Cycle Services programs.

Panama Papers links Metso to alleged sales fraud

A Russian sales manager for Metso's automation division is said to have skimmed money off invoices and cycled the funds through several bank accounts and firms until they ended up in Panama.

Antofagasta copper veteran Hernandez retires, Arriagada named new CEO

The appointment is effective immediately and Hernandez, who had been CEO since 2014, will remain as an adviser to the board.