Europe Mining News

How will precious metals react to the EU bailout plan?

After numerous jukes and headline rumors, the world finally received a so-called EU solution. After threatening with a total insolvency Greece situation, European leaders were able to talk bondholders into accepting a 50% haircut on Greek debt.

Norilsk Nickel envisages $35bn worth of investment to 2025

The company's board has approved a strategy that envisages investments to the tune of $35 billion between 2011 and 2025 to expand its resource base and raise output. The board of Russian miner Norilsk Nickel has approved a strategy that envisages

Peter Schiff tangles with Wall Street "occupants"

As Occupy Wall Street protesters continue to linger around town squares across North America and Europe, precious metals commentator Peter Schiff wades into the maelstrom.

Commodities and markets up higher on Eurozone resolution

After sensing that Europe's economic tailspin may have been halted, the markets and commodities opened higher. The S&P/TSX Composite index was up 2%, and the Dow Jones-UBS Commodity Index was up 1.59%. Spot gold was largely unchanged from yesterday's price at $1725/oz. Oil was up sharply. ICE North Sea Brent crude was up three percent to $112.23 a barrel, and the Dow Jones U.S. Oil & Gas Index was up 2.45%

Rusal / Norilsk: the risks are high

The long-running struggle between rival oligarchs Oleg Deripaska and Vladimir Potanin for control of Norilsk Nickel, Russia's biggest miner by market value, is a poor advertisement for Russian corporate governance. Mr Deripaska's aluminium grou...

Edgewater completes acquisition of 100% interest in the Corcoesto gold project, Spain: preliminary economic assessment nearing completion

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Edgewater Exploration Ltd. (TSX VENTURE:EDW)(OTCQX:EDWZF) ("Edgewater" or the "Company") is pleased to provide an update on corporate, exploration and development work on the Corc...

Gold may extend gains above $1,700 as Europe woes spur demand

Oct. 26 (Bloomberg) -- Gold futures may extend an advance above $1,700 an ounce as concerns about Europe’s debt crisis spur demand for the metal as a protection of wealth. European leaders will hold an emergency summit today in a bid to reach agreeme...

Iberian hits new polymetallic zone west of Agua Tenidas mine in Spain

At first, due to a typo, it looked like Iberian had hit high-grade gold. But with a quick correction, gold turned to silver. HALIFAX, NS - Iberian Minerals (TSX-V: IZN) discovered a new zone of copper-zinc-lead-silver not far from its operating Agua

Uralkali spending $5.8B to boost capacity by 80%

The world's largest potash producer by output said today it plans to spend $5.8B to increase capacity over the next decade to take advantage of rising potash prices. Uralkali (LON:URKA) said its expansion program includes both brownfield and greenfield mines. Brownfield projects include 1.5 million tonnes of additional capacity at Berezniki 4, increased efficiencies and removal of bottlenecks at Berezniki-2 and 3, as well as Solikamsk-2 and -3, adding a million tonnes in total, and a two-phase expansion program at Solikamsk-3, increasing its capacity by 2 million tonnes.

Art gallery thieves make a quick buck melting down rare bronze sculptures for scrap market

AP reports one of the four bronze sculptures that included a Jules Dalou, sculptor of the famous Triomphe de la République in Paris (pictured), stolen from the Johannesburg Art Gallery in South Africa since January, were probably melted down and the copper content sold for a paltry $250. The market for scrap metal has grown dramatically in recent years and China alone imports some 400,000 tonnes of scrap copper per month. So called No. 2 copper scrap, which typically consists of a mixture of wire and tubing, sells for roughly 40 cents below the futures prices, which on Tuesday was $3.40/pound.

Russia's Polyus Gold delays FTSE 100 listing

The company, controlled by billionaires Mikhail Prokhorov and Suleiman Kerimov, has decided to put its plans to secure a possible entry to the FTSE 100 on hold after failing to gain the support of the Russian government. MOSCOW (Reuters) - Russian gold

Company seeking permission for first gold, silver mine in Scotland in 500 years

Gold mining in Scotland? Acch, you don't say. The BBC is reporting that Scotgold Resources Limited (ASX:SGZ) is seeking to develop Scotland's first commercial gold mine in Loch Lomond National Park. Planning officials have recommended that the plan to extract £50 million worth of gold and silver from a hillside near Tyndrum, be approved. The project has undergone a revision since being rejected by the park authority in August 2010. If the mine goes ahead, it wil be the first gold mining operation in 500 years, in a nation better known for Scotch and haggis than nuggets and bullion.

Fennoscandian Exploration & Mining – great interest in mining projects in the north

Fennoscandian Exploration & Mining (FEM), which is being held next week, is one of Europe's largest events for mineral exploration and mining. This year it welcomes a record number of 900 participants from 20 different nations. Among the participants, there are managerial level decision makers and experts from mining companies, mining service organisations and the public sector.

Does Caterpillar build a bullish scenario for gold & silver?

On Monday morning, gold futures for December delivery climbed above $1,650, while silver futures closed in on $32. Gold and silver still remain in a trading range while markets wait on a European debt solution.

Global economy woes dim forecasts for China's copper demand

The debt crisis in Europe as well as the struggling economy in the United States may cloud the prospect of China’s demand for copper, which is usually regarded as an important indicator for global copper market prices, a recent Reuters poll shows.

Manitoba's Gossan Resources investing in Greece, undertaking private placement

Gossan Resources Limited (TSX VENTURE:GSS)(FRANKFURT/FREIVERKEHR & XETRA:WKN 904435) has signed a Letter of Intent (LOI) with East Mining Company SA ("EMC") of Athens, Greece, to investigate and examine the possibilities of acquiring mineral projects within Europe, on a non-exclusive basis, and initially to assess three potential projects in Greece. Additional projects may be pursued.

Gold bugs conspiracy theory goes mainstream

Support for the favourite gold bug conspiracy theory – that a cabal of western central bankers is secretly determined to manipulate the world’s markets by rigging gold prices – has come from an unexpected quarter.

Alacer Gold operations not harmed by Turkish earthquake

Alacer Gold (TSE:ASR) reports no injuries or damage occurred at the Çöpler Gold Project after a 7.2 magnitude earthquake struck the southern part of Turkey. Over 200 people are confirmed dead with hundreds of more casualties expected. Structural damage near the earthquake is extensive. The U.S. Geological Survey reported the epicenter was in the village of Tabani, about 410 kilometers southeast of Çöpler.

Minister Oliver Objects to the European Union's Discrimination of Canadian Crude Oil

measure for the Fuel Quality Directive (FQD). The European Commission has recently proposed an implementing measure that differentiates oil sands crudes from all other sources of crude oil. Yet there has not been a comprehensive scientific study of the

Eurostar Diamond Traders Wins RJC Certification

A diamond cutter at work (illustrative) Eurostar Diamond Traders NV, the Belgian diamond cutting and polishing manufacturer, has achieved certification meeting the Responsible Jewellery Council’s ethical, human rights, social and environmental standa...

Carbon-captured No, we’ve just been had

FOR most people passing on the A1, the beach at Thorntonloch will not seem appealing. For one thing, there’s a vast ugly box overlooking the strand that gives the place another name. They call that Torness. In a "graphite-moderated” gas-cooled...

Alberta calls EU oilsands label unfair

Text: A A The government of Alberta is calling the European Union's stand on the oilsands 'unfair' and a potential threat to trade ties. Alberta officials have written to EU experts, voicing "grave concerns" over plans to rank unconventional oil as a

Rio said to be looking at 1bn Portuguese iron ore project

Sources are reported as saying that mega miner Rio Tinto is looking at reopening Portugal's Torre de Moncorvo iron ore mines in the country's north. Mining giant Rio Tinto is negotiating with Portugal's government for a concession to mine iron ore in the

Canada-EU trade row brewing as bloc says WTO won't stop it from ranking oil sands world's dirtiest fuel

Reuters reports a proposed European Union law to rank Canadian oil sands as dirtier than conventional fuel can probably be successfully defended if Ottawa challenges the move at the World Trade Organization according to legal advisers to the EU's executive. The statement comes a day after environmentalists hurled accusations and interrupted a speech by Canada's resources minister, who was on tour to persuade Britain not to join the EU oil sands initiative. The government of Alberta has also written to EU experts voicing "grave concerns" that the bloc's plans are unfair and a potential threat to trade ties ahead of a Tuesday meeting to debate a green ranking of fuels. Royal Dutch Shell and France's Total are the top European investors in the oil sands.

Copper bounces 5.5% from 15-month low as supply disruptions begin to bite

In early morning trade in New York, copper for delivery in December jumped 5.5% from yesterday's 15-month low to trade at $3.23 a pound after France and Germany made positive noises about tackling Europe's debt problem promising a definitive agreement by heads of state "by Wednesday at the latest." Copper is also being lifted by supply worries – Reuters reported on Friday China's copper smelters are slowing their rate of refined copper production as supplies of raw material concentrate and scrap fall. Two strikes at mines owned by US-based producer Freeport McMorran has cut production while shipments from the world's No. 1 copper mine, BHP's Escondida in Chile, could be delayed to next year after recent work stoppages.