Commodity markets face the “twin macro risks” of a European recession and a hard landing in China this year, according to Morgan Stanley.
Europe Mining News
TORONTO, CANADA--(Marketwire - Jan. 16, 2012) - Inmet Mining Corporation (TSX:IMN) is pleased to announce its production by operating mine for 2011, and production and cash cost objectives for 2012.
Gold rose back above $1,640 an ounce in Europe on Monday as it took advantage of a rising euro and a recovery in stock markets which took some downward pressure off prices.
The metals lobby group is gearing up to meet with the European commission at the end of January to persuade it to grant the sector full exemption from the indirect carbon costs embedded in electricity prices.
The Russian steelmaker said Monday it will proceed with a planned listing of its Nord Gold mining unit in London after investors representing 10.6% of the share capital in the business participated in a share swap.
Stans Energy Corp announced the submission of documentation for the licensing requirements to the Kyrgyz Government for the Kutessay II Heavy Rare Earth Deposit and the Kalesay Beryllium deposit, news agencies reported.
China's growing romance with gold will continue and may reshape the jewelry climate in Asia, as Chinese demand challenges India for the top consumer spot. In other parts of the world, the United States and Europe, there is a trend toward higher-end products.
It is reported that a 12.9 kilometers long disused freight railway line in Cymgrach, South Wales has been resurrected for coal producer Unity Mine to enable it to reduce lorry movements.
Novinite reported that on Saturday, miners at Bulgaria's state owned Maritsa Iztok Mines launched a symbolic protest, warning that effective strike was in store, after talks failed Friday.
Details emerging from investigations into Areva's purchase of African uranium miner UraMin are beginning to resemble a spy novel.
Russian steelmaker Mechel OAO on Jan. 11 said it has completed laying tracks from the Ulak station to the Elga coking coal deposit in southeast Yakutia, Russia. According to Mechel's website, the Elga coal deposit contains an estimated 2.19 billion tonnes of Joint Ore Reserves Committee-compliant reserves.
Copper Mine BOR in Eastern Serbia, which is one of the largest copper mines in Europe, has installed an Eriez Metalarm 3600 Hawk Metal Detector to protect their crushers.
On Friday, gold (NYSEARCA:GLD) futures for February delivery decreased $16.90 to settle at $1,630.80 per ounce, while silver (NYSEARCA:SLV) futures fell 60 cents to settle at $29.52.
Copper rose to its highest level in more than two months on Thursday, boosted by the euro's strength against the dollar and a Spanish bond auction that drew strong demand, easing some immediate concerns about peripheral euro zone debt.
Frontier Mining (LON:FML) today unveiled a new US$29 million financing arrangement that will help support the development of the Benkala copper mine in Kazakhstan.
Reuters reports the London Metal Exchange has been approached by several potential bidders and will consider takeover proposals in late February according to its CEO. The LME handles some 80% of global trade in metals futures and a takeover will help the the 134-year old trading floor to compete against rapidly-expanding Asian metal trading hubs.
German mining and commodity group Deutsche Rohstoff AG said on Wednesday it will develop mining operations in east Germany to exploit estimated deposits of 38,000 tonnes of rare earths.
Belgium's justice minister ordered an inquiry Wednesday linked to a growing controversy over possible tax fraud among diamond traders in the port city of Antwerp.
Ramirent Sweden has been selected as a total solution supplier of rental equipment in the expansion of Boliden's operations at the Garpenberg mine near Hedemora, Sweden.
Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to provide a review of the results and achievements for 2011 and its capital expenditure and exploration work programs and outlook for 2012 for which it has allocated a total budget of approximately $152 Million. The Corporation is pleased with the achievements it made in 2011 on its two wholly owned assets: 1) Riacho dos Machados Gold Mining Project (the "RDM Mine" or "Project") in Brazil which is now in the mine construction phase and; 2) the Rovina Valley Project in Romania which is currently undergoing a Pre-feasibility Study.
The major Polish manufacturer of mining equipment, Famur, has recently signed the largest contract in its history with Kompania Weglowa, for 147 million zloty (zł), or almost €33 million. Kompania Weglowa remains state-owned but is Poland’s and the EU’s largest coal producer employing over 60,000 people across 15 mines.
Ninety percent of the Netherlands’ gold reserves are held overseas. Much of the gold is in vaults in New York in the United States, says newspaper.
London copper rose on Friday, erasing this week's declines, after jobs data pointed to a recovery in the US economy and offset concerns that the euro zone crisis is dragging demand growth lower.
Eldorado Gold Corporation (ASX: EAU) has commenced treatment of concentrate from the company’s Efemcukuru mine in Turkey after commissioning a concentrate treatment plant.
A Dutch paper reported on Thursday that France's Areva is eyeing a stake in UK-based uranium enrichment company Urenco.