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.
Europe Mining News
Sandvik AB is announcing more job cuts due to restructuring.
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.
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 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."
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.
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 Corp. (TSX:LUN), a Toronto-based global miner, reports its copper production last year was higher than forecast.
Commodity markets face the “twin macro risks” of a European recession and a hard landing in China this year, according to Morgan Stanley.
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.