In connection with Her Majesty the Queen of Denmark's state visit to Russia, FLSmidth expects to sign an agreement on future cooperation with the Russian company JSC EcoInvest.
Europe Mining News
RAPAPORT... The Antwerp Diamond Bourse, the Diamantclub of Antwerp and the Antwerp World Diamond Centre (AWDC) announced the dates for their third edition of the Antwerp Diamond Trade Fair. This invitation-only event will be held January 29 through
Dalradian intersects 8.34m grading 5.84 g/t Au and 3.2m grading 5.34 g/t Au in step-out drilling along strike at Curraghinalt
TORONTO, ONTARIO--(Marketwire - Sept. 6, 2011) - Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX:DNA) continues to extend the known mineralization at its Curraghinalt Deposit in County Tyrone, Northern Ireland. Results from a 50m step-out on the No. 1 vein include the widest intersection to date on the project comprising several veins over an 8.34m width grading 5.84 g/t Au. A 1000m step-out from the current resource estimate, returned intercepts including 3.2m grading 5.34g/t Au. Drilling to the south of the Crow vein has intersected at least two new vein discoveries, intercepting 1.34 and 1.64m grading 10.74 g/t Au and 6.13 g/t Au respectively. An additional intercept in the footwall of the T17 vein returned 3.71m grading 6.60 g/t Au.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it has entered into an agreement to acquire an exploration permit for gold and precious metals (the "Medel Permit") covering a total area of approximately 136 square kilometers in the Commune of Medel/Lucmagn in the Canton of Graubunden in southeastern Switzerland. The property is located in the Alps in a sparsely populated area. The community in which the property is located has been very supportive of the Company's initiative and welcomes the potential economic benefits that could be realized if the Company's exploration efforts are successful.
Copper steadied on Tuesday as an earlier price correction enticed buying from top consumer China, but concerns about slowing growth in the world's top economies muddied the metal's demand picture. Three-month copper on the London Metal Exchange (LME) traded at $8,9 50 a tonne in rings , little changed from Monday's close of $8,960 a tonne.
Gold fell from record highs on Tuesday, after Switzerland’s decision to peg its currency to the euro shook financial markets and battered the franc, putting the price of bullion in Swiss francs on track for its largest daily gain in three years.
U.S. crude futures declined in early Asian trade on Tuesday as recession worries continue to weigh down the market, after the Chinese services sector posted its worst ever growth reading and concerns about European debt lingered.
European stocks plunged and the euro tumbled, as investors piled into safe-haven assets amid rising fears over Europe's sovereign debt crisis and economic growth on both sides of the Atlantic.
Julia Gillard, determined to join efforts to reduce global warming, intends to revive cap and trade as Europe puts curbs on the United Nations-run emissions credit market and the U.S. opts out entirely. The Australian prime minister’s plan to make factories and utilities either cut the nation’s greenhouse gases or pay for pollution-curbing programs abroad may force companies to buy an average 66 million metric tons of credits a year starting in 2015, sending prices up 29 percent, according to Bloomberg New Energy Finance. That’s about two-thirds of Europe’s annual demand since 2008.
Gold gained above $1,900 an ounce in London as concern about slowing economic growth and Europe’s debt woes spurred demand for a protection of wealth.
Gold futures edged higher in thin holiday trade on Monday, as mounting concerns over the U.S. economic outlook and fears that the euro zone’s debt crisis is worsening boosted safe haven demand.
Central Asia Resources remains on track to begin mining at its 90%-owned Dalabai Gold Project this month and to start producing gold during the fourth quarter. The company has recently achieved several development milestones.
MOSCOW (Reuters) - Billionaire businessman Mikhail Prokhorov is not satisfied with being one of Russia's richest people and its most eligible bachelor. He also wants to be its prime minister. The playboy industrialist has almost no experience in politics
Europe’s most indebted nations are under heavy pressure from their richer neighbours to sort out their finances, but they are unlikely to mimic the impoverished gentlefolk of old by selling off the family silver – or in their case, gold – to do so.
TORONTO, ONTARIO--(Marketwire - Sept. 2, 2011) - High River Gold Mines Ltd. (TSX:HRG) ("High River" or the "Company") was informed that the Arbitration Court of the City of Moscow terminated the official bankruptcy proceedings for Prognoz Silver LLC ("Prognoz Silver") in connection with the application of Prognoz Silver claiming that the criteria of bankruptcy are no longer in place. As previously disclosed, the application to put Prognoz Silver into bankruptcy was initially filed by Prognoz Silver itself. High River holds a 50% indirect interest in Prognoz Silver, which operates the Prognoz silver project in the Republic of Sakha (Yakutia), Russia.
Lynas Corporation has signed a long term rare earths supply agreement with BASF. The contract will see Lynas provide the materials from its Lynas Advanced Materials Plant (LAMP) in Malaysia for BASF’s Fluid Catalytic Cracking business, which uses lanthanum.
Glencore International plc (LON:GLEN), seeking access to the growing coal market in India and China, announced on Thursday an estimated $1 billion plan to acquire Optimum Coal Holdings (JNB:OPT), a significant thermal coal producer in South Africa. Glencore will value the ordinary shares of Optimum at 34 ZAR (4.8 USD), a 35% premium over the 30-day volume weighted average. “Optimum’s high quality, long life coal assets and significant presence at Richards Bay Coal Terminal would be an attractive addition to our existing South African coal business," said Tor Peterson, director of the Coal/Coke commodity department.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announces that its fourth quarter results of fiscal year 2011 show significant improvements. As a result of improved operational performance and rising gold prices, a net profit of US$5.4 million was generated during the fourth quarter. This second consecutive profitable quarter confirms the Company's improved profitability profile. Petaquilla's accumulated net income of US$7.5 million in the last two quarters of fiscal year 2011 reflects a positive trend in net results and the Company forecasts a positive net income for fiscal year 2012.
Copper-gold-silver mineralization at Empire Mining's Demirtepe project in Turkey is hosted in high-value Wollastonite mineralization
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to report that initial studies that it commissioned on the wollastonite mineralization in the Main Zone of the Demirtepe deposit, which is the exclusive host of the copper-gold-silver mineralization, indicate that it is potentially of significant economic importance and can therefore possibly considerably benefit the feasibility of a future copper-gold mine development at Demirtepe.
Orsu completes infill drilling programme in connection with ongoing definitive feasibility study at its Karchiga project
LONDON, UNITED KINGDOM--(Marketwire - Sept. 1, 2011) - Orsu Metals Corporation ("Orsu" or the "Company") (TSX:OSU)(AIM:OSU), the London-based precious and base metals exploration and development company, is pleased to announce the on-schedule completion of 1,786m (46 holes) infill drilling of the central oxide ("Karchiga Central Oxide") and an additional 2,278m (26 holes) infill drilling of the North East sulphide ("Karchiga North East Sulphide") as part of the ongoing definitive feasibility study ("DFS") at its Karchiga volcanogenic massive sulphide copper deposit in Eastern Kazakhstan (the "Karchiga Project").
Copper fell on Thursday due to weak export orders from big metal consumer China and a survey showing a contraction in manufacturing activity in the euro zone, but supply concerns kept a floor under prices. Three-month copper on the London Metal Exchange was $9,130 a tonne in official rings, down from a close of $9,275 on Wednesday.
LKAB is investing in new technology that will make ore transport up to 20% more energy efficient and help to maximise utilisation of the Ore Railway between Riksgränsen and Luleå in Sweden.
Outotec collaborates with the Mongolian government to develop mining and metallurgical processing of Mongolian mineral resources
Outotec has agreed on collaboration with the Ministry of Minerals Resources and Energy of Mongolia (MME) during the visit of Ms. Tarja Halonen, President of the Republic of Finland, to Mongolia today. According to the agreement, Outotec supports MME as a technical advisor to develop mining and metallurgical processing of Mongolian mineral resources in the most sustainable way.
Shares of Canada's Gabriel Resources have climbed 16% in the week since plans by its 80%-owned Rosia Montana Gold Corp to build a massive gold mine in Transylvania received public backing from the Romanian president. Gabriel first obtained the concession in 1999 and has already spent $500 million advancing the project and has another $175 million left, but needs several more environmental approvals to establish an open-cast mine (pictured) which once in production will be Europe's largest producing 500,000oz/year.
Aug. 31 (Bloomberg) -- Copper climbed for a sixth day in London as speculation the U.S. Federal Reserve will stimulate economic growth heightened optimism about raw materials demand. All six industrial metals on the London Metal Exchange gained for a