Europe Mining News

Rio Tinto’s iron ore exposure a hit with analysts

Rio Tinto has already outperformed the UK 350 mining sector over the year to date but Citi reckons it can continue to motor ahead thanks to a continuing tight iron ore market. The company remains the broker’s most favoured UK metals and mining firm.

Gold Declines for First Day in Seven as Europe’s Debt Crisis Lifts Dollar

Gold fell for the first time in seven days in London as growing concern that Europe’s debt crisis is worsening strengthened the dollar, curbing demand for the metal as an alternative investment. Bullion advanced to all- time highs in euros and pounds.

Platinum Group Metals dip on European debt crisis worries

Bloomberg reports that platinum group metals dipped today as concerns over the European debt crisis grow.

Peel and UK Coal could build 11 waste-to-energy plants

Plans to develop waste-to-energy facilities on 11 UK Coal sites in the North of England and the Midlands took a major step forward Monday after the coal giant’s shareholders approved plans to establish a joint venture for the project with Peel Environmental.

Zinc futures up on global cues

Supported by pick-up in spot demand and a better trend at the London Metal Exchange, zinc futures prices rose 0.39 per cent today. At the Multi Commodity Exchange, zinc for delivery in July traded higher by 40 paise or 0.39 per cent to Rs 103.25 per kg

Markets plunge amid fears of euro debt

PM Local share losses have accelerated, as global markets are gripped by fears the euro zone debt crisis will spread to Italy, but coal miners buck the trend after a $4.7 billion bid for Macarthur Coal.In midday trade, the benchmark S&P/ASX200 index was

Gold gains modestly on European debt fears

SAN FRANCISCO (MarketWatch) — Gold futures gained Monday on continuing concerns about Europe’s sovereign-debt crisis and as investors eschewed investments considered riskier, such as U.S. stocks. Gold for August delivery added $13.20, or 0.9%, to

W Australia on Irish recruitment drive

Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017.

Base metals fall on Italy debt worries, supply in focus

Reuters reports that nickel went untraded today, but still managed to fall as copper, aluminum and zinc also fell.

German hard coal imports seen up 2-3 million tonnes in 2011

German imports of hard coal are likely to rise by between 2 and 3 million tonnes over last year's 45 million tonnes, importers said on Monday, citing steel industry demand and needs to replace nuclear power generation. "The increases will be relatively

Australia to catch up with Europe as carbon tax details emerge

Australian businesses are reacting to the details of a new carbon tax which has been lauded by environmentalists as historic but condemned as economic madness by critics. Despite the criticism, analysts say Australia lags behind parts of the developed

Five companies from Turkey among world's biggest steel producers

Five Turkish companies have been named among the world's biggest steel producers. ANKARA- Turkish companies Erdemir Group, Habas, Icdas, Diler Group and Colakoglu Metalurji were included in the world's leading steel & metal markets publication Metal

Gold kept steady by euro worries while dollar rises

LONDON - Gold steadied on Monday, having risen for five days in a row, supported by investor concerns over the spread of the euro zone debt crisis, although gains were tempered by the dollar’s strength. The euro fell 1 percent against the dollar, which

LME non ferrous trading climbs 16 per cent in H1 2011

LME non-ferrous trading climbs 16 per cent in H1, 2011 Read more : non-ferrous metals,ferrous metals,lme,commodity derivatives LONDON (Commodity Online): Non-ferrous trading registered a growth of 16% in volumes at London Metal Exchange (LME) t with 68.6

Copper falls on Italy debt worries; supply in focus

Copper fell on Monday as concerns over Italy's sovereign debt curtailed appetite for risky assets, but a series of strikes in producer countries highlighted supply constraints and lent support to prices. Three-month copper on the London Metal Exchange traded at $9, 581 a tonne in official rings , down from the $9,661 close on Friday.

Trap of Anglo-American analysis of Eurozone crisis

From the outset of the eurozone crisis, most economists and financiers in the United States and the United Kingdom, the "Anglo-Americans", announced that the peripheral eurozone countries would very soon default on their sovereign debt and that, in

Russia expects to increase coal production over next two decades

It is reported that at the 5th Coaltrans Russia and CIS conference held in Moscow, Russia annual coal production was discussed by analysts.

Gold may advance next week as debt concerns boost demand, survey shows

Gold may gain as debt concerns in Europe and the U.S. spur demand for the metal as a protection of wealth, a survey found. Fourteen of 18 traders, investors and analysts surveyed by Bloomberg, or 78 percent, said bullion will rise next week. Two

Rising copper price trend – Aurubis

Europe's largest copper producer Aurubis sees a trend for rising copper prices thanks to higher demand for more electronics goods, its chief executive told a German paper. "Even if there may be short-terms price swings in either direction... demand for copper is rising with increasing prosperity in countries such as China," Bernd Drouven told Frankfurter Allgemeine Sonntagszeitung.

Rising copper price trend – Aurubis

Europe's top copper producer sees demand for copper rising as prosperity increases in developing nations foreshadowing a rising price trend. FRANKFURT (Reuters) - Europe's largest copper producer Aurubis sees a trend for rising copper prices thanks to

FT: Gold miner gets green light to mine in Greece

Debt-saddled Greece has a new revenue source in the form of two gold mines that have been approved by the country's environment minister, George Papaconstantinou, FT reported on Friday. The newspaper said that European Goldfields has received final approval to build two large gold mines in northern Greece, named Olympias and Skouries, near Thessaloniki. The AIM-listed miner plans to spend $500 million to build the mines and a total of 1.3 billion euros throughout the life of the mines.

German Parliament set to okay clean coal bill

Reuters reported that Germany is set to approve funding to develop cleaner coal technology. The market news is quoted as saying: Germany, Europe’s largest economy and a global manufacturing powerhouse, has committed to reducing its carbon footprint by 40 percent in 2020 compared with 1990, with further cuts to come over the following three decades.

The Greek/B.I.S. currency gold swap

The Bank of International Settlement holds 500.7 tonnes of gold as at the end of 2010. Why? In the third quarter of 2009 it held just under 120 tonnes. These were part of currency/gold swaps. There are no details of the names of the counterparties. Coincidentally, they could be nearly the total of the ‘official’ gold holdings of Greece, Portugal and Spain.

EU clears Rio Tinto's talc sale

European Union regulators cleared on Friday a bid by French minerals firm Imerys to acquire the world's biggest talc producer, Luzenac, from Anglo-Australian mining giant Rio Tinto. Imerys announced in February its intention to buy Luzenac for $US340

European Goldfields shares soar on Greek environmental approval

Investors have been anticipating a positive outcome, the shares are now up over 30 percent in the past few weeks European Goldfields (LON:EGU, TSE:EGU) shares shot up over 10 percent after the group’s 95%-owned subsidiary Hellas Gold SA got environment