Europe Mining News

Copper gains for 2nd day as Greece default woes ease

London copper edged higher for a second straight session on Tuesday after an orderly auction of Greek default insurance eased concerns about Greece's threat to the euro zone and eroded safe-haven support for the dollar.

Young miner dies in coal mine accident

A 24-year-old miner died in late on Sunday in the Lubnica lignite mine, located near the town of Zaječar, in eastern Serbia.

RUSAL threatens to sue in chairman row

RUSAL, the world's No.1 aluminium producer, said comments by former chairman Viktor Vekselberg had damaged its reputation and shareholder value, and threatened unspecified legal action.

Eurozone crisis not over but gold should not be following the Euro

The Eurozone crisis and its effects on global currencies and gold and silver is far from over. Gold has been following the Euro downwards, but it shouldn't be doing so.

UK tungsten project gets £55 million loan guarantee

The past-producing Hemerdon tungsten mine moved a step closer to re-opening after the project's developer secured 55 million pounds in bank loans.

Gold drops to 10-week low in euro and sterling

The spot market gold price dropped to $1641 an ounce shortly after US market open - a 4.4% fall on the week - as stocks and commodities were broadly flat, with stock markets looking set for a weekly gain by Friday lunchtime in London.

UK Coal shares plunge as it considers closing Warwickshire mine

UK Coal's (LON:UKC) shares plunged by more than 28% in late afternoon trading after it revealed it was considering closing a coal mine in Warwickshire.

European giant Glencore eyeing Canada’s Viterra

Glencore (GLEN.L) is one of a handful of parties eyeing a potential bid for Viterra (VT.TO), Canada's largest grain handler, as the diversified trading house looks to boost its agricultural presence, a Swiss-based industry source said on Monday.

Mining companies may be losing $130bn annually to fraud – UK study

A PKF/University of Portsmouth Centre for Counter Fraud Studies report suggests mining companies' haste for social acceptance in developing nations could cost them dearly.

Canada’s Gabriel Resources under fire in Romania

Canada’s Gabriel Resources Ltd. (TSX:GBU) became the centre of attention this morning as an important figure of Romania's 1989 revolution, MEP Laszlo Tokes, left his party on Monday over Rosia Montana, a debated gold mine project in north-western Romania.

Poland blocks EU efforts on carbon limits

Coal-reliant Poland on Friday vetoed European Union efforts to move further towards a low carbon economy, pitting itself against the rest of the 27-member bloc.

Russian miner want to triple output at Armenia's largest gold mines

A Russian company exploiting Armenia's largest gold mines has reported a sharp rise in output last year and pledged to raise production levels further after modernizing its gold smelter in the southern town of Ararat.

Glencore raising new $6bn loan – extending existing too

Swiss commodities trading powerhouse Glencore is raising a $6 bn syndicated loan in connection with its Xstrata merger and also extending an existing $11.85 bn of existing loans.

Green Monday: Glencore dividend payout gives Glasenberg a $110 million pay day

Ivan Glasenberg, CEO of  Glencore International stands to receive dividends worth roughly $110 million on Monday when the commodities giant announces its maiden full-year payment to shareholders.

Finland grants licence for uranium extraction at Talvivaara

Cameco (TSX:CCO) (NYSE:CCJ) announced today that the Finnish government has granted a licence for the extraction of uranium as a by-product from the Sotkamo nickel mine operated by Talvivaara Mining Company Plc. (LSE: TALV) in eastern Finland.

High River Gold announces default pursuant to National Policy 12-203

TORONTO, ONTARIO--(Marketwire - March 1, 2012) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announced today that the Ontario Securities Commission (the "OSC") has noted the Company in default of its continuous dis...High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announced today that the Ontario Securities Commission (the "OSC") has noted the Company in default of its continuous disclosure obligations under Ontario securities law due to the Company not having filed National Instrument 43-101 ("NI 43-101") compliant technical reports to support the current mineral reserves and mineral resources at its Zun-Holba and Irokinda mines.

Russia's diamond polishing industry looks forward to renewed growth

Russia's diamond manufacturing industry is slowly but surely emerging from the severe crisis it experienced since 2009, when polished diamond production fell to an unprecedented low of US$350 million.

White Tiger Gold is fading to grey

White Tiger Gold shed another 6% on Monday on almost double usual trading volumes, despite releasing high grade drilling results for its Nasedkino project that it says are enough to go ahead with a final feasibility study. The counter is now down 30% year to date and a shadow of its former self in January last year. At the time it was trading at a whopping $4.80.

400 million euros worth of shipwrecked gold and silver coins back in Spain

Associated Press reports that two military planes laden with 17 tons of silver and gold coins recovered from a sunken Spanish galleon have touched down in Madrid.

EU approves aid for closure of 3 coal mines

The European Commission has authorised 1169 million Romanian lei (approximately €270 million) of public funding for the closure of three uncompetitive coal mining units owned by National Hard Coal Company JSC Petrosani (CNH SA).

Polish Bogdanka Mine sets production world record with Cat® Plow Longwall

On February 16, 2012, the Polish coal mining company Lubelski Węgiel Bogdanka S.A. smashed the world record for daily production from a plow-equipped longwall, with an output of 24,400 tonnes of coal from a single face.

European Goldfields and Eldorado tie-up: At last investors can cheer news about Greece

The $2.5 billion deal saw European Goldfields add 6.4% in afternoon trade on Tuesday while Eldorado gained 6% to bring their combined market value to $10 billion.

Who're you calling dirty? Canada says would take Europe to WTO over oil sands

Canada is upset about an EU energy panel's plans for a green ranking of fuels that would rank Alberta's heavy oil as the globe's most polluting and effectively ban the import of oil sands crude into the bloc.

Gold falls, ending the week flat

Gold futures edged lower Friday, ending flat on the week, as drawn-out bailout talks in Greece frayed investor nerves and some traders trimmed their holdings ahead of a three-day break in the US.

HK exchange named in latest LME takeover bid

Hong Kong Exchanges & Clearing has reportedly bid for the London Metal Exchange in an attempt to diversify into commodities trading.