Europe Mining News

Gold Falls in London as Rally to Record Spurs Investor Sales

Gold futures may rise in New York on speculation slowing economies in the U.S. and Europe will boost demand for safer investments.

Mongolia Energy Riches Attract Neighbors and Outside Interests

Pity poor Mongolia, bereft of fiscal resources, caught between the ambitions of its superpower neighbors, Russia and China. Ulaan Bator’s situation is akin to interwar Poland, dexterously attempting to reconcile its foreign policy between the USSR’s hammer and Nazi Germany’s hard place.

The State Service of Mining Supervision and Industrial Safety implements a special regime of control in the Ukrainian coal industry

The inspectors who control observance of legislation in the coal industry over the next month will perform their duties in a special mode. This was announced the Head of the State Service of Mining Supervision and Industrial Safety Alexander Hohotva

German newspaper tells its readers to buy gold

Gold Hedge reports that a German newspaper is telling its readers that it's time to buy gold. Bild Zeitung, is Germany’s biggest- selling newspaper, is the best-selling newspaper outside Japan and has the sixth-largest circulation worldwide. Bild encouraged German people to invest in gold as the global debt crisis continues to deteriorate and cause turmoil in global markets.

BBC: torture in Marange Diamond Fields

Stephane Chardon, the Chair of the Kimberley Process Certification Scheme's (KPCS) powerful Working Group on Monitoring (WGM), convened an emergency teleconference this week a day after the airing of BBC's Panorama investigative television program

Antwerp's Net Rough Exports Double in a Single Month

Belgium's net rough diamond exports soared in July, rising to $444.4 million, up by 41.8% year over year and 127.2% compared to June's net exports.

The dynamics of buying gold only growing – Pravda

Russian view on the rising gold price and if gold is in a bubble if, and when, it will collapse - Not soon say analysts but short term correction perhaps on the cards. The price of gold continues to grow at a fantastic rate, reaching new heights. Not

Russian H1 2011 nickel exports dropped by 17%

According to data released by Russian Customs, Russia exported 84,400 tonnes of nickel in the first half of 2011, down by 17.3% YoY. However, the country's nickel export values in the first six months of 2011 increased slightly by 0.6%.

Mintec opening UK office for Europe, North Africa and Central Asia

Arizona-based Mintec will broaden the global reach of its MineSight software by opening a London office October 1. Five technical staff will support and train Mintec’s clients in Europe, North Africa, and Central Asia.

This German copper-moly miner gives a dram – 15 billion to be exact

Radio Free Europe reports an increase in world prices for base metals has made a 60-year old German-owned mining company the largest corporate taxpayer in Armenia. Data from the positively Soviet-sound State Revenue Committee released on Tuesday show the Zangezur Copper and Molybdenum Combine paying more than 15 billion drams ($41 million) in various taxes and duties in the first half of this year, compared to just 5.5 billion drams the same period last year.

Elizabeth Taylor’s Famed Jewelry and Art Collection for Sale

Renowned auction house Christie's has announced a new exhibition and sale dedicated to the collection of late British-American actress Elizabeth Taylor in September 2011.

Russia's Mechel H1 coking coal output up 28 pct

MOSCOW, Aug 10 (Reuters) - Russian mining conglomerate Mechel said on Wednesday that first half coking coal concentrate output reached 4.5 million tonnes, up 28 percent from last year thanks to strong demand. Overall coal output declined by 5 percent

Ukraine to begin commercial gold mining

This year Ukraine will start its own large-scale gold mining, according to the representative of the State Service of Geology and Mineral Resources of Ukraine Eduard Stavyts'kyi. The ministry official confirmed that Ukraine's gold resources have been estimated at 2,500-3,000 tons. The State Service of Geology and Mineral Resources of Ukraine explain the decision to begin mining Ukraine's gold deposits by the radical growth of the world price of gold.

Coal puts Hunter economy in strong position

Asian demand for Hunter coal should shield the region from a global financial crisis that is threatening Europe and the US.Chinese banking officials visited Perth last month and declared the country had $US1 trillion to invest in global resources

Lundin Mining shares jump on BHP takeover hopes

North Korea Times At 3:37 a.m. EDT, shares in Lundin were up 2.5 percent at 31 Swedish krona, easing off earlier highs as the market dipped back after a recovery in early trade following days of heavy losses in the mining sector on the back of demand

Anti-coal protesters still at UK site

Environmental campaigners are still waiting to be evicted from a site near an opencast mine in Shropshire, a month after an eviction notice was served. UK Coal applied to mine New Works near the Wrekin area of outstanding natural beauty in Telford over 32 months. Some residents objected but permission was granted by a planning inspector in October 2009 after a public inquiry. Protesters set up illegal camps on the site in March 2010. UK Coal's eviction notice gave them until 5 July to leave.

Caldera Resources accuses Global Gold Corp of illegal methods in fight for Marjan mining

Caldera Resources has filed a complaint with the American Arbitration Association against Global Gold Corporation who unilaterally and illegally terminated the JVA between the parties.

Sberbank to get 35% of Belaruskali as collateral for loan

Bloomberg reports that OAO Sberbank will receive 35 percent of Belaruskali, the Belarusian potash producer, as collateral for a $2 billion loan.

Commodities crash on global cues

Growth concerns in the US and European countries have put downside price pressure on most commodity markets, with crude oil and copper losing the most.

Clean coal’s uncertain future in Germany

The recent passing of a carbon capture and storage (CCS) technology bill by the Bundestag (German Parliament) should be seen as a small victory in the battle to make CCS technology and ‘clean coal’ a reality. However, numerous political and economic barriers continue to persist, around the commercialization of CCS and raise the question as to whether CCS and clean coal are a pipe dream rather than an end-of-pipe solution.

Gold bounces as Asian stocks dive; premiums steady

Gold edged up on Friday as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe's debt crisis is spreading to some of its largest economies.

Russians hike potash prices for India 32% one day after Canpotex inks deal

Russia's Uralkali, who together with Belaruskali and North-American producers represented by Canpotex, control almost 60% of world production, said on Thursday its trading company raised prices for India by 32%. Uralkali's export arm will supply 1.2 million tonnes to India at $490/tonne (up from $370/tonne) through the end of March 2012. On Wednesday arduous negotiations between Canpotex and India ended in a two-step deal that increases the export price to $470/tonne for the fourth quarter and adding another $60/tonne next year. India has some 55 million small farmers and is the world's number one importer at over 6 million tonnes per year.

Gabriel Resources has $175 million war chest for ancient Roman gold mine

Gabriel Resources announced on Wednesday that it has accumulated over $175 million in cash and equivalents to move ahead its gold mining project in Transylvania in an area where tunnels used by Roman miners during the first century still exists. It has been more than a decade since Gabriel Resources first obtained the Rosia Montana concession, believed the be one of the richest in Europe, and the Canadian firm has faced protests since receiving an archaeological discharge certificate from Bucharest authorities in July. More recently the site was a Romanian state-owned open pit operation (pictured) and Gabriel Resources has set aside $35 million for what it calls "rescue archaeology" .

Xstrata profits jump 27%, expects even better second half

Anglo-Swiss mining giant Xstrata said on Tuesday its first half net profit jumped 27 per cent to $US2.9 billion and that it expected even better earnings for the second half. "A substantially stronger financial performance in the first half reflected growing demand for our products from emerging Asian economies and recovering Western markets," Xstrata chief executive Mick Davis said in a statement.

Ten more years for Spanish nuclear plant

Spain's nuclear regulator has unanimously approved a ten-year operating licence extension for the two-unit Ascó nuclear power plant, covering the period 2011-2021. The Consejo de Seguridad Nuclear (CSN) has submitted its report approving the continued operation of the plant to the Spanish Ministry of Industry, Tourism and Trade, with whom the final decision on the licence extension will lie.