Europe Mining News

12 years, 7 CEOs and $500 million later Europe's largest mine may finally get built

Europe's biggest mining project may be approaching the finish line after a dozen years of opposition and delays, and could enter its final stage late next year, a Rosia Montana Gold Corp executive told Reuters on Friday. Rosia Montana is majority-owned by Gabriel Resources which have spent more than $500 million under no fewer than seven different CEOs advancing the project since the Canadian firm first obtained the concession in 1999. It is believed the be one of the richest deposits in Europe with 314 tonnes of gold and 1,500 tonnes of silver and where mining activity dates back to the 1st Century.

Red Crescent Provides Geological and Exploration Update on Hakkari Zinc

- Confirms higher grade drill intersections and assay results -

Glencore backs Ironbark's Greenland project

Ironback Zinc (ASX:IBG) announced on Thursday that Glencore International (LON:GLEN) will help the company with a US$50 million funding facility to advance Ironback's Citronen base metals project in Greenland. The lead-zinc Citronen project is located […]

Rambler Metals and Mining plc: Altius members resign from Rambler board

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 13, 2011) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') would like to announce that Non-Executive Directors Brian Dalton and John Baker provided notification that effective 13 October 2011 they will be resigning from the Rambler Board of Directors.

White Tiger Gold and Century Mining combination gets a green light from Canadian regulators

The combination of White Tiger Gold (CVE:WTG) and Century Mining received approval on Wednesday from the Government of Canada under the Investment Canada Act. Century Mining will become an indirect subsidiary of White Tiger. "We appreciate the approval given by the Government of Canada. We are now one step closer to creating a larger, more diversified gold mining company with multiple properties in various stages of production and development in Canada, Russia, and Peru" said Daniel Major, President and Chief Executive Officer of Century and Dr. Geoffrey Cowley, Chief Executive Officer of White Tiger in a joint statement.

Areva eyes industrial partnerships for mining unit

PARIS, Oct 12 (Reuters) - Areva is considering partnerships with industrial groups to allow those to buy stakes in the mining business of the state-controlled nuclear group, Areva's chief executive told a parliamentary hearing.

Eldorado Gold achieves record production

Eldorado Gold (TSE:ELD) announced that it hit record production in the third quarter. Its three mines, Kisladag, Jinfeng, Tanjianshan and White Mountain, produced 179,195 oz in Q3 at a cash cost of $397/oz. The company also said that iron ore sales in the quarter totalled 170,781 tonnes at a realized price of US$122/tonne. "We are extremely pleased that all operating mines continue to perform in accordance with plan in terms of production levels and cash operating costs, which resulted in record quarterly production for the corporation," commented Paul Wright, President and Chief Executive Officer.

India asks Czech Republic for tech help in coal mining

"The Indian side impressed upon Czech Republic regarding the scope for establishing manufacturing facilities in India for underground mining machinery," an official statement said. Coal Minister Sriprakash Jaiswal-led the Indian delegation wh...

Israel's diamond trade sees doubled-digit growth in Q3

Israel's diamond industry has continued to show growth during the third quarter of 2011, according to figures published by the Ministry of Industry, Trade and Labor's Diamond Controller Shmuel Mordechai. The figures show double-digit growth in ...

UAE primary aluminium sector targets growth in Turkey

(MENAFN Press) Against the economic instability in neighbouring Europe, Turkey remains a strong regional economy. Indeed, the International Monetary Fund ("IMF") recently revised the forecast growth for Turkey's economy upwardly to 7.5 pe...

European stocks, copper falls on debt concern; treasuries drop

Oct. 11 (Bloomberg) -- Stocks in Europe and copper dropped for the first time in five days after European Central Bank President Jean-Claude Trichet said the debt crisis threatens the financial system. Treasuries declined, while emerging-market stocks...

Sluggish steel demand to affect ArcelorMittal SA and Highveld Steel in Q3

It is reported that sluggish domestic and international steel demand and operating problems will weigh on third quarter profits at South Africa's two biggest steelmakers, ArcelorMittal SA and Evraz Highveld Steel. The gloomy conditions in the Septe...

Italian steel output in first 8 months up by 11pct YoY – Mr Pasini

During the conference held recently by SteelOrbis in Rezzato, Mr Giuseppe Pasini chairman of Italian steelmakers association Federacciai illustrated the structural problems that characterize the Italian steel industry, starting from the condition of...

Gold Futures Edge Lower Ahead Of Slovakia EFSF Vote

– Gold futures edged lower on Tuesday, pulling back from a 12-day high ahead of a vote by Slovakia on expanding the powers of the euro zone’s bailout fund, while strong physical demand in Asia provided support. On the Comex division of the New Yor...

Glencore wants coal, shares in Bakrie talks

SINGAPORE, Oct 11 — Glencore International Plc is pressing the Bakrie group for more rights to sell coal and an option to buy shares in its London-listed unit in exchange for refinancing a US$1.35 billion (RM4.2 billion) short-term loan, sources said...

Iberian Minerals Publishes Preliminary Q3 2011 Production Results

Iberian Minerals Corp. (TSX VENTURE:IZN) today announced preliminary production results for the three and nine months ended September 30, 2011. Mr. Daniel Vanin, President and CEO, stated "Overall both mining operations continue to deliver in line with 2011 targets. At Aguas Tenidas the labour interruptions that occurred during Q3 were recovered by the operation and we continue to maintain expected metal production guidance for 2011. Condestable's throughput rate in Q3 increased as the plant expansion was put into operation."

Ariana Resources has 'key opportunity' to increase potential for multi-million ounce finds

Turkey-focused gold miner Ariana Resources ( LON:AAU ) said today that it has a “key opportunity” to substantially increase its mineral exploration footprint in western Turkey now that licence auctions in the country have been announced.

Ovoca Gold gets key certificate for Olcha deposit in Russia

Russia-focused Ovoca Gold (LON:OVG) has received a key permit which allows the group to apply for a mining licence on the presently drilled reserves of the Olcha deposit - part of the Rassoshinskaya licence.

Israel's Rough Imports $3.5 Billion in Q3

Israel's rough diamond trade was rising in the third quarter of 2011, according to the latest released figures. Net rough diamond imports increased about 35 percent to $3.519 billion.

Nordic Iron Ore says may have found one of Sweden's largest iron deposits

Christer Lindqvist, CEO of Nordic Iron Ore, announced on Sunday that the company had previously been granted a mining concession for the iron ore deposit in Blötberget and are soon expecting a decision on an application for a mining concession for the neighboring Håksberg field. The indicative results of magnetic measurements of the Väsman field can be an opportunity to develop Ludvika mines to a continuous mining fields from Håksberg in the north to the Blötberget in the south, whereas a potentially very large tonnage of the Väsman field may result in mining for many years to come.

Qataris are eyeing Greek gold reserves

Qatar is joining the field of gold mining in this country after a recent agreement by the Qatar Investment Authority to fund the Hellenic Gold investment in Halkidiki, northern Greece.

Dutch government comes half clean on gold reserves

Goldseek responds to Dutch blog Vrijspreker's report that the Netherlands secretary of the treasury has answered half-candidly the questions put to him by the Dutch Socialist Party about the disposition of the Dutch National Bank's […]

Court case resolution means coal miner may reduce its liabilities

Poland's top coking coal miner JSW will consider releasing a large part of reserves created in relation to a dispute over local taxes, if the Gliwice court proceedings slated for October confirm a positive Constitutional Tribunal ruling, CEO Jaroslaw Zagorowski told a press conference.