Europe Mining News

Breedon Aggregates maximizes crusher productivity through Sandvik technology

Breedon Aggregates Limited is now the largest independent aggregates operator in the UK, with 23 quarries, 18 asphalt plants and 27 concrete plants in England and Scotland, employing in the region of 700 people.

Nortec (NVT) announces Letter of Intent for $20.5 million option of the LK Project, Finland

Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) has signed a binding Letter of Intent with Otterburn Ventures Inc. (CSNX:OTB). The LOI gives Otterburn the option to earn up to an 80% interest in Nortec's Läntinen Koillismaa project, a 100% owned palladium-platinum–gold–copper-nickel property in north central Finland.

Copper mining's ancient origins explored anew

Copper Investing News delves into the history books and takes a look at copper mining on the island of Cyprus which is so closely associated with copper, that the word “copper” is actually derived from the Greek name for the island, Kupros. Cyprus’ copper deposits are being revalued and in 2010, around $13 million worth of copper was exported from Skouriotissa (pictured), the world’s longest producing commercial copper mine first explored in 1914 but exploited since the Bronze Age.

EBRD lends EU80 million to Serbia’s EPS for coal mines

Bloomberg reported that the state-run power company in Serbia has received a loan from the European Bank for Reconstruction and Development to upgrade its coal mines. The market news is quoted as saying: The loan,

Sirius Minerals raises $40 million for new UK potash mine

Stocks of London-listed Sirius Minerals, the potash development group with assets in the US, Australia and the UK, jumped 5% on Wednesday after announcing financial results for the year to end March and raising £24.3 million. The company hopes to mine the UK’s only seam of potash and has started drilling in the North York Moors National Park where it has secured mineral rights for 631 sq km of land. Sirius said York Potash has the potential to turn it into a tier one potash producer.

Gloucester Coal 4Q sales up 16 pct

Gloucester Coal increased its fourth quarter sales by 16 per cent from a year earlier.

Polyus Gold H1 2011 gold output up 21% yr/yr

Russia's Polyus Gold says H1 2011 gold output at 611,000 ounces, up 21 percent yr/yr. Says H1 2011 revenues at $909 million versus $608 million in H1 2010.

UK coal inventories fell in March to almost three year low

UK coal inventories held by power companies fell in March to the lowest in almost three years after stocks were run down last year on weakening demand. According to figures from the Department of Energy & Climate Change, inventories were 9.6 million

EU debt agreement, SA supply issues boost platinum

PGM prices have been given a lift by the latest EU debt agreement but, while Europe remains a focus over the medium term, for now problems in major supplier, South Africa, are likely to come into focus.

Gold prices advance as global debt issues give investors the jitters

Gold prices surged in Asian trade Monday, after US authorities failed to agree on a debt ceiling, and with no apparent progress toward a deal the financial markets have the jitters. Spot gold traded as high as $1620 an ounce at 5 p.m. Singapore time.

Chinese manganese metal spreads over specified markets in Europe and Asia

TEX reported that while the central government of China already decided to impose 20% of duty on export of electrolytic manganese metal from China and has been enforcing this imposition of the export duty from January 2008, the electrolytic manganese

Mining giant under fire for worker deaths

Vedanta Resources, the mining giant buying a substantial part of Cairn Energy's Indian business, has come under intense fire from a shareholders' group over its safety record, with one worker dying every two weeks.

Germany to fund new coal plants with climate change fund cash

It is reported that the German government wants to encourage the construction of new coal and gas power plants with millions of euros from a fund for promoting clean energy and combating climate change. As per report, the plan has come under stiff

Gold steady after Europe debt deal, US deficit talks eyed

Gold held steady below USD 1,600 on Friday, after the euro zone leaders reached an agreement on a Greece bailout plan, but prices are expected to be rangebound as investors keep an eye on the progress made in US debt talks. Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.

Belarus increases metallurgical production by 15pct in H1 2011

According to data released by the National Statistical Committee of the Republic of Belarus, in the first half of the current year Belarus increased metallurgical production by 15.2%YoY. In particular, crude steel production increased by 5.4% to 1.395

Russia ferrous product exports decline in Jan to May

According to the data for the first five months of the current year from the Federal Customs Service, Russia ferrous product exports decreased by 16%YoY to 13.950 million tonnes worth a total of USD 8.538 billion.

They were digging under the church looking for gold bullion

Six men, who conducted illegal excavations under the historic church in the village of Marczow (Lower Silesia Province), were arrested by the police. The detainees were looking for treasure, allegedly hidden under the church.

Tyndrum’s gold mine plans back on the agenda

Gold mine plans for Tyndrum are again a possibility after the firm behind the proposals lodged a second application with the national park.Scotgold Resources had an earlier application rejected by the park authority last August.

Lundin revises production downward after hitting poor grades at Neves Corvo

Neves Corvo, Ludin Mining's copper-zinc mine located in Portugal, will produce 4,000 tonnes less copper and 19,000 tonnes less of zinc in 2011. The cash cost of production at the mine will also climb from $1.40 to $1.65. Neves Corvo, which accounts for most of Lundin's copper output, was expected to produce 76,000 tonnes of copper and 25,000 tonnes of zinc. The outlook has now fallen to 72,000 tonnes of copper and 6,000 tonnes of zinc. However, zinc production at the company's Irish mine, Galmoy, was expected to rise from 17,000 tonnes to 28,000 tonnes.

SSAB sees growing demand for niche steel products

Swedish steelmaker SSAB (SSABa.ST: Quote) beat second-quarter earnings forecasts, helped by demand for its specialist products in the United States and Europe, and said the recovery had further to run.

Gold steady after Europe debt deal, U.S. deficit talks eyed

Gold held steady below $1,600 on Friday, after the euro zone leaders reached an agreement on a Greece bailout plan, but prices are expected to be rangebound as investors keep an eye on the progress made in U.S. debt talks.

United Silver Corp. Announces Closing of Secured Bridge Loan with Forbes and Manhattan Inc. (CCN)

United Silver Corp. ("United Silver Corp.", the "Company" or "USC")(TSX:USC)(OTCQX:USCZF)(FRANKFURT:UM8) announced today in furtherance to its news release dated July 15, 2011, it has completed the closing of a $2,000,000 secured term loan facility

Russia's mining sector reverses output declines

According to a new report by Business Monitor International Russia's mining sector is set to grow slowly over the forecast period to 2015, marking a reversal of the declining output seen since 2006. Business Monitor forecasts the value of the mining sector to reach US$259bn in 2015 from US$134bn in 2010, marking an annual average growth rate of 2.6%.

Commodities rise after Greek plan details emerge

Financial markets — including commodities — surged after details from the highly-anticipated EU Summit were released. Germany's demand that private investors be a part of any Greek bailout, which will likely be considered a partial default by ratings agencies, seems to have been met.

Clouds gather over global economies

Growth ground to a halt in the euro zone's private sector this month while China's factory sector contracted for the first time in a year, surveys showed on Thursday, deepening evidence of a sharp slowdown in the global economy. The surveys were published just before European leaders meet for a crisis summit to hash out a second bailout of Greece and allay fears a debt default by Athens will poison access to the bond market for bigger states. Image is by Malene Thyssen.