Europe Mining News

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.

Inquiry into diamond trader tax fraud

Belgium's justice minister ordered an inquiry Wednesday linked to a growing controversy over possible tax fraud among diamond traders in the port city of Antwerp.

Ramirent supplies rental solution for Garpenberg expansion

Ramirent Sweden has been selected as a total solution supplier of rental equipment in the expansion of Boliden's operations at the Garpenberg mine near Hedemora, Sweden.

Carpathian Reviews 2011 Achievements & Budgets $152 Million for 2012

Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to provide a review of the results and achievements for 2011 and its capital expenditure and exploration work programs and outlook for 2012 for which it has allocated a total budget of approximately $152 Million. The Corporation is pleased with the achievements it made in 2011 on its two wholly owned assets: 1) Riacho dos Machados Gold Mining Project (the "RDM Mine" or "Project") in Brazil which is now in the mine construction phase and; 2) the Rovina Valley Project in Romania which is currently undergoing a Pre-feasibility Study.

Famur signs largest single deal in its history with miner Kompania Weglowa

The major Polish manufacturer of mining equipment, Famur, has recently signed the largest contract in its history with Kompania Weglowa, for 147 million zloty (zł), or almost €33 million. Kompania Weglowa remains state-owned but is Poland’s and the EU’s largest coal producer employing over 60,000 people across 15 mines.

90 pct of the Netherlands’ gold reserves held overseas

Ninety percent of the Netherlands’ gold reserves are held overseas. Much of the gold is in vaults in New York in the United States, says newspaper.

LME copper rises as US data improves outlook

London copper rose on Friday, erasing this week's declines, after jobs data pointed to a recovery in the US economy and offset concerns that the euro zone crisis is dragging demand growth lower.

Eldorado Gold Corporation begins gold treatment in Turkey

Eldorado Gold Corporation (ASX: EAU) has commenced treatment of concentrate from the company’s Efemcukuru mine in Turkey after commissioning a concentrate treatment plant.

Areva eyes stake in UK-based uranium enricher – paper

A Dutch paper reported on Thursday that France's Areva is eyeing a stake in UK-based uranium enrichment company Urenco.

ABB’s synchronous reluctance motor and drive package wins Automation Award

ABB's new, highly energy-efficient synchronous reluctance motor and drive package has won the 2011 Automation Award. ABB says "the package represents a breakthrough that combines best-in-class energy efficiency and customer value. ous motor and matched frequency converter, is designed for maximum performance.

LME copper falls as Europe worries offset US optimism

London copper fell on Wednesday, snapping two days of gains, as worries that the financial crisis in the euro zone will slow global economic growth overrode optimism from upbeat U.S. economic data.

Gold firm as euro declines, consumer demand improves

Better consumer demand provided some support to help steady the yellow metal on Wednesday as the euro dropped.

US$100 million debt facility agreement completed: Eastern Platinum Limited

Eastern Platinum Limited (the “Company” or “Eastplats”) is pleased to report that further to its press release of February 1, 2011 announcing the receipt of letters of commitment for a debt facility

An excavator climbs up then balances upon a tower

A Liebherr excavator climbed up and then balanced upon a specially built tower in Vienna, Austria.

Widespread metal theft a sign of 'moral collapse'

Al Jazeera reports that metal theft in England is widespread, and a British railway authority says that metal theft has cost them milllions.

Handheld Group further grows its market coverage for rugged PDAs and mobile devices

The Handheld Group, a manufacturer of rugged PDAs and mobile devices, strengthens its presence in the important German, Austrian and Swiss markets with the acquisition of the hardware division of its distribution partner Latschbacher.

Natural disasters, gold price among Top Mining Stories of 2011

2011 will go down as the year when the wind fell out of the sails of economic recovery and serious storm clouds gathered on the horizon.

UK coal industry plans for cheaper, reliable and sustainable power

Britain’s coal producers have tabled a five-point plan that they say “will give the nation’s electricity users cheaper, reliable and sustainable power supplies whilst safeguarding jobs, stimulating investment and reducing energy imports.”

Europe’'s crisis sideswipes precious metals sector

The precious metals that were supposed to provide a haven in times of economic turmoil are rapidly losing their lustre as the year draws to a close.

London copper slips, breaking four days of gains

Prices of copper on the LME fell on Wednesday after poor housing data in the US raised concerns that demand for the metal could wane

Areva in talks to sell Eramet nickel mining stake

French nuclear giant Areva says it is in talks to sell its 26% stake in major nickel miner, Eramet (formerly Soc. Le Nickel) with major operations in New Caledoinia.

Crumbling confidence in government and banks will continue to propel precious metals

The current bull market in precious metals is set to hit new heights in the coming years, but many financial types still do not fully grasp the implications of what is driving the rise in gold and silver prices. In order to understand the nature of thi...

Gold drops to 1-week low as Europe woes damp commodities demand

Dec. 27 (Bloomberg) -- Gold fell, declining to the lowest level in a week, on concern that Europes debt crisis may escalate, boosting the dollar and damping demand for commodities. Cash gold dropped as much 0.8 percent to $1,594.95 an ounce, the lowest...

Nickel wards off pancreatic cancer

In a study of pancreatic cancer, Spanish researchers found that patients with high concentrations of nickel and selenium were least likely to suffer from the disease.