Europe Mining News

Bulgarian coal miners strike over unpaid bonus

Thousands of miners at Bulgaria's three largest coal mines walked off the job Monday, claiming that employers are not delivering on their promise of bonuses.

More job cuts at Sandvik

Sandvik AB is announcing more job cuts due to restructuring.

High River Gold announces preliminary production results for 2011

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2012) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announces its preliminary operational results for the year ended December 31, 2011. The numbers stated below are preliminary and subject to final adjustment.

Company plans to mine a billion tonnes of coal off Wales- without miners

The debate over the use of coal in Britain is heating up. Reuters reports a British company, Clean Coal UK, is planning to mine an estimated billion tonnes of coal off the Welsh coast using underground coal gasification.

Kinross down 19% after announcing Tasiast project setback

Kinross Gold (K.TO) erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed that it will take ". . . a material non-cash accounting charge, primarily relating to the goodwill recorded for the Tasiast mine in connection with the 2010 Red Back acquisition."

Poland govt. approves new mining tax

The Polish finance ministry reported Tuesday that the government has approved a controversial mining tax, which is planned to raise $518.6 million for state coffers this year.

Rare Earth metals that fit the trends: Marcel Fuhrer

Success in the critical metals sector depends on finding the trends—how the metals will be used, where market share is allocated—and on familiarity with the companies you invest in, from who is on the management team to how much cash they have on hand.

Lundin Mining reports higher than expected 2011 copper production

Lundin Mining Corp. (TSX:LUN), a Toronto-based global miner, reports its copper production last year was higher than forecast.

Commodities face twin macro risks in Europe, China, Morgan Stanley says

Commodity markets face the “twin macro risks” of a European recession and a hard landing in China this year, according to Morgan Stanley.

Inmet Mining Announces 2011 Production and 2012 Objectives for Operating Mines

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 back above $1,640/oz as euro, stocks recover

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.

Eurometeaux gears up for EU carbon tax talks

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.

Severstal to proceed with Nord Gold GDR listing

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 submits mining licenses for heavy rare earth in Kyrgyzstan

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.

'Factors affecting Indian Chinese jewelry demand in 2012'

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.

Disused railway reinstated for coal freight in South Wales

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.

Bulgarian coal miners launch symbolic strike

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.

Atomic Anne, her husband and the dubious $2.5 billion African uranium deal

Details emerging from investigations into Areva's purchase of African uranium miner UraMin are beginning to resemble a spy novel.

Russia's Mechel completes construction of rail link to coking coal deposit

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.

Eriez save Serbian copper mine from damaged crushers

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.

Gold and silver decline as Europe receives downgrades

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 hits 2-month high as EU debt fears ebb

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 agrees US$29 mln financing for expansion of Benkala copper mine

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.

LME says sell-out decision February as 2011 contracts value surges 33% to $15 trillion

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 mine for rare earths to be developed

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.