Europe Mining News

Gloucester Coal 4Q sales up 16 pct

Gloucester Coal increased its fourth quarter sales by 16 per cent from a year earlier.

Polyus Gold H1 2011 gold output up 21% yr/yr

Russia's Polyus Gold says H1 2011 gold output at 611,000 ounces, up 21 percent yr/yr. Says H1 2011 revenues at $909 million versus $608 million in H1 2010.

UK coal inventories fell in March to almost three year low

UK coal inventories held by power companies fell in March to the lowest in almost three years after stocks were run down last year on weakening demand. According to figures from the Department of Energy & Climate Change, inventories were 9.6 million

EU debt agreement, SA supply issues boost platinum

PGM prices have been given a lift by the latest EU debt agreement but, while Europe remains a focus over the medium term, for now problems in major supplier, South Africa, are likely to come into focus.

Gold prices advance as global debt issues give investors the jitters

Gold prices surged in Asian trade Monday, after US authorities failed to agree on a debt ceiling, and with no apparent progress toward a deal the financial markets have the jitters. Spot gold traded as high as $1620 an ounce at 5 p.m. Singapore time.

Chinese manganese metal spreads over specified markets in Europe and Asia

TEX reported that while the central government of China already decided to impose 20% of duty on export of electrolytic manganese metal from China and has been enforcing this imposition of the export duty from January 2008, the electrolytic manganese

Mining giant under fire for worker deaths

Vedanta Resources, the mining giant buying a substantial part of Cairn Energy's Indian business, has come under intense fire from a shareholders' group over its safety record, with one worker dying every two weeks.

Germany to fund new coal plants with climate change fund cash

It is reported that the German government wants to encourage the construction of new coal and gas power plants with millions of euros from a fund for promoting clean energy and combating climate change. As per report, the plan has come under stiff

Gold steady after Europe debt deal, US deficit talks eyed

Gold held steady below USD 1,600 on Friday, after the euro zone leaders reached an agreement on a Greece bailout plan, but prices are expected to be rangebound as investors keep an eye on the progress made in US debt talks. Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.

Belarus increases metallurgical production by 15pct in H1 2011

According to data released by the National Statistical Committee of the Republic of Belarus, in the first half of the current year Belarus increased metallurgical production by 15.2%YoY. In particular, crude steel production increased by 5.4% to 1.395

Russia ferrous product exports decline in Jan to May

According to the data for the first five months of the current year from the Federal Customs Service, Russia ferrous product exports decreased by 16%YoY to 13.950 million tonnes worth a total of USD 8.538 billion.

They were digging under the church looking for gold bullion

Six men, who conducted illegal excavations under the historic church in the village of Marczow (Lower Silesia Province), were arrested by the police. The detainees were looking for treasure, allegedly hidden under the church.

Tyndrum’s gold mine plans back on the agenda

Gold mine plans for Tyndrum are again a possibility after the firm behind the proposals lodged a second application with the national park.Scotgold Resources had an earlier application rejected by the park authority last August.

Lundin revises production downward after hitting poor grades at Neves Corvo

Neves Corvo, Ludin Mining's copper-zinc mine located in Portugal, will produce 4,000 tonnes less copper and 19,000 tonnes less of zinc in 2011. The cash cost of production at the mine will also climb from $1.40 to $1.65. Neves Corvo, which accounts for most of Lundin's copper output, was expected to produce 76,000 tonnes of copper and 25,000 tonnes of zinc. The outlook has now fallen to 72,000 tonnes of copper and 6,000 tonnes of zinc. However, zinc production at the company's Irish mine, Galmoy, was expected to rise from 17,000 tonnes to 28,000 tonnes.

SSAB sees growing demand for niche steel products

Swedish steelmaker SSAB (SSABa.ST: Quote) beat second-quarter earnings forecasts, helped by demand for its specialist products in the United States and Europe, and said the recovery had further to run.

Gold steady after Europe debt deal, U.S. deficit talks eyed

Gold held steady below $1,600 on Friday, after the euro zone leaders reached an agreement on a Greece bailout plan, but prices are expected to be rangebound as investors keep an eye on the progress made in U.S. debt talks.

United Silver Corp. Announces Closing of Secured Bridge Loan with Forbes and Manhattan Inc. (CCN)

United Silver Corp. ("United Silver Corp.", the "Company" or "USC")(TSX:USC)(OTCQX:USCZF)(FRANKFURT:UM8) announced today in furtherance to its news release dated July 15, 2011, it has completed the closing of a $2,000,000 secured term loan facility

Russia's mining sector reverses output declines

According to a new report by Business Monitor International Russia's mining sector is set to grow slowly over the forecast period to 2015, marking a reversal of the declining output seen since 2006. Business Monitor forecasts the value of the mining sector to reach US$259bn in 2015 from US$134bn in 2010, marking an annual average growth rate of 2.6%.

Commodities rise after Greek plan details emerge

Financial markets — including commodities — surged after details from the highly-anticipated EU Summit were released. Germany's demand that private investors be a part of any Greek bailout, which will likely be considered a partial default by ratings agencies, seems to have been met.

Clouds gather over global economies

Growth ground to a halt in the euro zone's private sector this month while China's factory sector contracted for the first time in a year, surveys showed on Thursday, deepening evidence of a sharp slowdown in the global economy. The surveys were published just before European leaders meet for a crisis summit to hash out a second bailout of Greece and allay fears a debt default by Athens will poison access to the bond market for bigger states. Image is by Malene Thyssen.

Gold production target in sight, Petropavlovsk says

Russian gold miner Petropavlovsk’s recorded a 32% rise in total gold production in the first half of the year and said it was on track to achieving its target of 600,000 ounces of gold for the year. During the period between 1 January to 30 June, Petropavlovsk reported total attributable gold production of 219,100 ounces, a 32% jump from 166,300 ounces in the comparable period last year.

Rio Tinto set for UK power plant sell-off

Rio Tinto is understood to be eyeing the potential sale of one of its UK power stations RIO Tinto is understood to be eyeing the potential sale of one of its UK power stations to German-owned energy giant RWE Npower, writes Philip Waller.

Metso to supply comminution services to Northland Resources in Sweden

Metso has signed a contract with Northland Resources AB for a five-year mill lining service and inspection program for the Kaunisvaara project in northernSweden. The contract complements previous project orders by Northland Resources, announced by […]

Hochschild Mining announces 13% fall in H1 output

Latin American precious metal producer Hochschild Mining said output fell 13 percent in the first half, as expected, and that it was on track to meet its full-year target. It produced 11.1 million silver equivalent ounces in the first half due to lower grades at the company's two main Peruvian operations, declining output from its two ageing Ares and Moris mines, and industrial action at its San Jose mine.

INTERVIEW: Outokumpu To Focus On Growth Outside Europe

Efforts to turn loss-making Finnish stainless steel maker Outokumpu Oyj (OUT1V.HE) around have been insufficient to date and the company will now focus on growth outside of Europe in order to improve profitability, Chief Executive Mika Seitovirtaof said