Europe Mining News

BayFront and Roman Copper comment on their acquisition of Cupru Min

BayFront Capital Partners and its wholly-owned subsidiary Roman Copper Corp. today released further details of their plan for Cupru Min and its world-class Rosia Poieni copper mine, acquired as part of the Romanian government’s privatization program.

Russia's central bank lightens its gold holdings

Russia's central bank sold off about $200 million of gold in February, according to a report from the Financial Times.

South Korean companies want to establish 6,000 MW coal power plants in Turkey

Today Energy minister Taner Yildiz said that South Korean companies were interested in establishing 5,000-6,000 MW coal-fired power plants in Turkey.

Valhalla to remain halted

Valhalla is a Canadian mineral exploration company focusing on the discovery and development of base and precious metal opportunities in Turkey and Romania.

In the hole for $18 billion, Rio Tinto finds buyer for Europe alumina business

The world's number three miner bought Alcan's business on the continent in 2007 for $38 billion. So far the $100 billion Anglo-Australian company has been forced to write off $18.2 billion of the purchase price.

Astur Gold Enters Into Joint Venture With Silver Swan for La Codosera Property

Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce that it has entered into a legally binding Joint Venture Agreement with ASX-listed Silver Swan Group Limited (ASX:SWN) ("Silver Swan") allowing Silver Swan to earn up to an 80% interest in Astur Gold's La Codosera gold property by incurring AUD$3M in exploration expenditures.

£500m of plundered art hidden in German silver mine

An expedition to uncover £500 million of missing artwork looted by the Nazis during the Second World War has been launched in Germany.

You want ice with that? Centerra dives 18% after saying waste and ice will cut Kumtor production by 200,000 oz

Centerra Gold said labour strikes last month worsened the extent of the ice and waste flows and that it now can't access the high grade zone at its massive mine in Kyrgyzstan.

Stellar Diamonds says its project in Sierra Leona confirmed as a high value asset

London-trade Stellar Diamonds (LON:STEL) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.

Canadian Nordion accused of frustrating efforts to wean the world off nuclear weapons-grade uranium

Canadian health products provider Nordion was the target of criticism at a major nuclear security summit in South Korea due to the company’s deal with Russia that entitles it to sell medical isotopes made with weapons-grade uranium for the next eight years.

Rio diamond mines may be on the block

London-based diversified miner Rio Tinto (LON:RIO) is taking a page out of BHP Billiton's playbook and is looking at selling some or all of its diamond mines.

Riding the graphite bull

Chris Berry, founder of Mountain Partners asset management company, provided an interesting summary of the graphite space while speaking at the recent Graphite Express Conference in Vancouver.

World's largest coal company muscling in on world's largest metallurgical deposit

"Shenhua is the most competitive bidder for the project given its technology, transport infrastructure, access to the Chinese market and the backing of the Chinese government," Shenhua CEO Ling Wen told reporters.

Flinders financing set to fund restart of graphite mine in Sweden

Graphite has been a hot commodity of late and one Canadian junior looks to have capitalized on market sentiment through a proposed C$15 million financing.

Iberian Minerals reports 2011 net income of $173.7 million

The Company reported net income of $173.7 million for 2011, representing $0.42 per share.

Glencore said to hold conference call for bond investors

Glencore’s “aggressive financial and acquisition policy” has been a “recurring credit weakness.”

OZ loses Romanian copper mine to Canadian company

Canadian company Roman Copper Corp won Monday's bid for Romania's largest copper mine, beating out three competitors including Australian miner OZ Minerals.

GIW Froth Pump prevents airlock shutdowns at Mondo Minerals Talc Plant

GIW Industries, the leader in the design, manufacture and application of heavy-duty, centrifugal slurry pumps, announced that global talc producer Mondo Minerals has installed GIW's High Volume Froth (HVF) pump at its talc processing plant in Outokumpu, Finland. During the pump's first month of operations, the plant was able to stabilize the flotation process and eliminate a safety hazard.

Russia gold output growth to slow in 2012 – union

The Gold Industrialists' Union says the country's gold production growth could slow to 3% this year owing to declining output from key several mines.

BHP Billiton aluminum chief leaves amongst poor safety rumours

In a brief and low profile announcement, BHP Billiton said last week that it was replacing its Aluminum President, Jon Dudas, giving no reason for his sudden departure, nor a timeframe for his replacement.

Metso to supply additional mining services to Northland Resources in Sweden

Metso has signed a major service contract with Northland Resources AB, consisting of a six-year service, maintenance and inspection program for the Kaunisvaara iron ore processing plant, located in northern Sweden. The contract complements previous equipment and mill lining services order, announced in 2011. The total value of the order is EUR 73 million, including the previously signed contract worth EUR 19 million.

Wardell Armstrong to lead mining project masterclass at Minex in Astana

A masterclass looking at the whole process of developing a mining project - from initial studies and designs through to operations and management – is being organised and led by Wardell Armstrong International at this year’s Minex forum from 17 to 19 April in Astana, Kazakhstan.

Gold bar with tungsten core found in UK

A 1,000gm gold bar with a tungsten core was bought by a scrap dealer in the United Kingdom, reports ABC Bullion.

The bulls can rest their case on this one chart

Gold is being amassed largely on the fears that the global currency system is flawed, and bears also believe American and Chinese economies are headed for another fall. However, there is a deep economic imbalance that is rapidly being righted that can result in a lot of prosperity for all.

Ukraine Court Rules Against Rusal in Zalk Aluminum Plant Dispute

Ukraine's government won a court hearing as it seeks to regain control over the Zaporizhskyi aluminum smelter from Russian billionaire Oleg Deripaska's United Co. Rusal. The Kiev Commercial Court ruled to overturn a sale agreement and return a 68.01...