Europe Mining News

FIS Brokers First Coking Coal Swap With Credit Suisse

Cme Grp. Inc. (MM) (NASDAQ:CME) Intraday Stock Chart Commodities broker Freight Investor Services said Tuesday it has brokered its first coking coal swap trade, with Credit Suisse as the counterparty, completing the move of steelmaking materials towards

Salave gold project progressing as National Bank targets $3.30 share price

Astur Gold's Salave gold project in northern Spain got a boost last week when National Bank initiated coverage on the Vancouver-based junior explorer.

Gold, markets off as concerns about Greece escalate

The "very slow-moving train wreck" in Greece and Europe is taking down gold and the markets. Worries that Greece may default on its debt led to the Australian stock market, measured by the S&P/ASX 200, to close down 1.64%. The Hang Seng Index was off 2.76%. Mid-day, both the Dow Jones and S&P 500 are off 1.7%.

Wales rescue workers find fourth miner dead

South Wales Chief Constable Peter Vaughan called the unfortunate outcome of the search-and-rescue operation on Friday “the one that none of us wanted,” because police had held out hope of finding some of the miners alive. It is Britain’s worst fatal mining accident in years. Officials do not know what caused the accident at the Gleision Colliery near Swansea, in south Wales, an area once synonymous with coal mining, but where the industry all but disappeared since Britain’s labor strife of the 1980s.

Two bodies recovered from underground coal mine in Wales

Euroenews reports that two bodies were found by rescuers who are trying to reach trapped miners in an underground coal mine in south Wales. On Thursday morning, water flooded the hillside colliery near Cilybebyll where seven miners were working. Three miners managed to escape while four remained underground. Divers have been trying to reach the workers but debris in the water is making progress difficult.

Copper gains, EU finance ministers' meeting eyed

Copper rose on Friday, building on strength gained from the previous session after a funding plan for banks allayed fears over Europe's festering debt crisis, but the region's financial problems were expected to keep weighing on prices.

Turkish stainless flat steel in July imports up by 8pct MoM

According to the data provided by the Turkish Statistical Institute, in July this year Turkey's stainless flat steel imports rose 7.9% compared to the previous month increasing to 25,478 tonnes. The value of these imports amounted to USD 78.2 million

Gold futures drop below USD1,800 after ECB announcement

Gold futures tumbled to a three-week low on Thursday, trading below the psychologically-important level of USD1,800-an-ounce after the European Central Bank announced measures to boost dollar liquidity.

Four men in flooded Welsh mine, rescue efforts continue

British rescue workers pumped water today from a flooded coal mine in south Wales in an attempt to reach four trapped miners.

China buying gold in bid to devalue U.S. dollar

According to a recently released WikiLeaks cable, China is shifting some of its massive foreign holdings into gold and away from the U.S. dollar, undermining the dollar's role as the world's reserve currency.

First Cat branded hydraulic mining excavator working at Siilinjärvi phosphate in Finland

A newly Caterpillar-branded hydraulic mining excavator was recently delivered from the former Bucyrus factory in Dortmund to Hartikainnen, Finland’s biggest contractor, which is using the machine at the Siilinjärvi phosphate mine in the country where it has the mining contract.

Polish mining stocks gain on tax ruling

Polish stocks are on a tear this week after a top court made a mining-friendly tax ruling. Bloomberg reports that Polish stocks climbed for a second day, with the benchmark index heading for the biggest advance in a week, as coal and copper producers jumped after the Constitutional Tribunal ruling on mining taxes: "The court ruled that mining excavations should not be considered as construction works and should be free of real-estate taxes."

Norilsk Nickel approves buyback of own shares

The board of Norilsk Nickel , the world's largest nickel and palladium producer, approved on Tuesday a public buyback of its shares at $306 per ordinary share and $30.6 per ADR.

Copper lifted off 1-month lows as China comes to rescue of Italy

London copper prices rose 1.3% to $8,869.50 a tonne n Tuesday on reports that China could bolster Italy's flagging economy by buying its bonds. In the previous session, copper – considered a good indicator of economic activity – was dragged to a one-month low after Chile’s Codelco, the world’s largest producer, said some of its clients in the United States and Europe have asked to cancel orders. Italy has asked China to make "significant" purchases of Italian debt, the Financial Times reported on its website on Monday, saying that the chairman of China Investment Corp, headed up a delegation to Rome last week. Meanwhile Greek workers threatened to sabotage a new property tax, a last-ditch effort by the government to please international lenders and the US treasury secretary flies to Poland to meet with EU finance ministers on the Greek crisis.

Bulgaria mining company Asarel Medet a new gold and copper mining concession…more

that it had awarded local copper mining company Asarel Medet a new gold and copper mining concession for a period of 15 years reports Sofia Echo. The concession area spans 1604 hectares, the Government's media office said.... Username: Password: Stay

A guided trip down Somersetshire Coal Canal memory…

Guided tours of a gem on the Somersetshire Coal Canal will take place this weekend as part of national Heritage Open Days. The main line of the vital route needed to overcome a height difference of 138 feet between the Kennet and Avon Canal and Timsbury

Rosia Montana Gold Corporation to take USD 700 mln loan for Romania gold mining project

Rosia Montană Gold Corporation (RMCG) will borrow USD 700 million from a consortium of banks led by the Royal Bank of Scotland to cover the costs of the gold mining project in Romania. The loan would cover two thirds of the needed amount for the

French miner Eramet to invest $450m in Halmahera Nickel project

10-SEP-2011 Intellasia | Jakarta Globe Free newsletter - click here In a move expected to give eastern Indonesia an economic boost, a French mining group plans to invest in a nickel mining project in North Malaku. "Eramet will have spent around $450

Barings adds to gold miners in resources fund

LONDON: Barings has been adding to gold miners in its global resources fund, believing that the gold price will stay elevated as investors seek safe havens, and that the under-performance of gold miners versus the gold price is unsustainable. "We can see

Russia’s Posyet port loads record amount of coal

(Argus) — Russian mining and steel company Mechel's Posyet port loaded a record number of coal cargoes in August. The port in Russia's far east loaded 26 ships in August, or 509,000t of coal, the highest for any month in the port's history. A

World scrambles for rare earths after latest China crackdown

Reuters reports prices of most rare earth elements – used in consumer electronics, defence and green energy industries – have risen since Wednesday after of local government crackdown on mining, with three major producers slated for closure. The news follows an announcement from the EU that it is building a stockpile of a variety of REEs and that a high-level meeting of officials from Europe, the US and Japan will take place in Washington early next month to discuss supply security. The price of some REEs such as samarium oxide used in jet fighter electrical systems has increased 25-fold in just three years.

Atomic Ivan in love with the atom

In a unique public communication project, Russia's state atomic energy company Rosatom has lent its support to a feature film set at a nuclear power plant. Atomic Ivan follows a demanding and ambitous young scientist with an obsession for experiencing all human feelings.

Avala Resources Grants Stock Options

Avala Resources Ltd. (TSX VENTURE:AVZ) (the "Company") wishes to announce that it has granted an aggregate of 4,860,000 stock options (the "Option") to directors, officers, employees and consultants of the Company and its Serbian subsidiary.

Ukraine will ensure Russian energy transit to Europe

Ukraine always has been and always will be a reliable partner for transit of energy to Europe, stated the Ukrainian Minister of Energy and Coal Industry Yuriy Boyko during his meeting with the representatives of the foreign diplomatic corps in Ukraine. "Ukraine has demonstrated its commitment to integration with the European Union in the energy sector by becoming a full member of the Energy Community and carrying out comprehensive work to bring its energy sector in accordance with European requirements," stressed the Ukrainian energy minister.

Antwerp rocked by $1 billion diamond tax scandal

Authorities in Belgium are investigating a case that may turn out to be the country's largest ever fraud. De Tijd this week published some of the names from a list of 170 of Antwerp diamond traders who it claims are being investigated by authorities for spiriting almost $1 billion (€700 million) in unpaid taxes into secret Geneva bank accounts. Approximately 80% of the total world production of rough diamonds is traded by the 185 gem companies operating in Antwerp (pictured) and 50% of the globe's polished diamonds pass through the Flemish town. The Antwerp traders are among a much larger roster of at least 24,000 HSBC Private Bank clients from Canada, India and Germany under investigation by French authorities since 2009.