Europe Mining News

Three miners trapped underground after landslide at Russian coal mine

Three miners have been trapped underground as as a result of a landslide that occurred at a coal mine in Russia's republic of Komi on Saturday, emergencies services said. Seventy miners out of the 73 who were working at the Severnaya mine when the landslide occurred at around 6 pm local time (14:00 GMT) during a shift change. The three trapped miners are alive, an emergencies services official said. "Rescuers have established connection with one of the trapped miners," he said. "We know for sure that he is alive. He made it clear by rapping that his two colleagues are also alive."

Ireland’s zinc mines may boom again as Xstrata buys remaining stake in Pallas Green

Xstrata Zinc Canada has agreed to purchase the remaining 23.6% interest in the Pallas Green property in Ireland belonging to its current joint venture partner in the project, Minco, for $19.4 million. Under the agreement, which is subject to Minco shareholder approval, Xstrata Zinc will become the sole owner of the project at Cahernconlish, Limerick.

Romania grants Canadian firm permit for gold mine near ancient Roman site

BUCHAREST - Bucharest issued an archaeological discharge certificate for an area in northwestern Romania where a Canadian firm wants to establish a gold mine, the culture ministry said Friday. The decision was criticized by groups defending the patrimony

Glencore to stop reporting quarterly results

Glencore has decided to stop reporting its results every quarter, in a move that is likely to soothe tensions with Xstrata, the mining company in which it owns a 34 per cent stake.

Nickel, Tin Spurts On Global Cues

Business Standard reports that tin and nickel saw a sudden jump in prices today in India after steady trading in London.

Metinvest increases in-house production of coking coal

Metinvest (“the Group”), a vertically integrated metals and mining group of companies, today announced plans to increase its in-house production of coking coal, following the commissioning of Affinity Mine, owned by its subsidiary United Coal Company.

European Goldfields ups total resource and reserve estimates

European Goldfields has raised its total resource and reserve estimates due to revised figures from its Skouries and Olympias projects in Greece, prompting a rise in its shares.

MP calls for change to way metal dealers pay customers following cable thefts

BRIGG and Goole MP Andrew Percy has supported a review for scrap metal dealers to check ID of customers – in light of more cable thefts in North Lincolnshire. The local MP's concern over the current 47-year-old law was raised as thieves struck for the

Commodity falls and fears for stress tests see FTSE decline

Falls among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points.

Richard Burton's elegy for Welsh coal miners

Richard Burton appeared on Dick Cavett's show in 1980 and told the story about his family of Welsh coal miners. Listen to a riveting history about those who loved the mines and what that work cost them.

Gold surges to fresh all-time high near $1595

Gold reached a fresh record high on Thursday as investors continue to seek for the metal as a refuge after Moody's placed US top-notch credit rating on review for a downgrade and hints of QE3 from the Fed. The yellow metal has also been supported by ongoing concerns over the euro zone debt crisis that deepened after Fitch downgraded Greece rating to CCC on Wednesday.

Fairfax Market Report including Goldplat, Ncondezi Coal and Paragon Diamonds

Morning View The QE3 debate is firmly back on the table. • The prospect of a third round of stimulus has pushed gold prices to a record high. • Stalling debt talks in the US add support to gold. • European concerns appear to

EU cuts import duties on potash from Russia, Belarus

Reuters reported that the EU lifted trade barriers from Russia and Belarus by cutting import duties on potash. Continue reading...

BioteQ signs agreement with European engineering firm for SART Project

BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, has signed an agreement with a European engineering firm to advance a cyanide regeneration and recovery project that incorporates a SART process plant to be designed and provided by BioteQ at a gold mine site in Central Asia.

Gold hits record high as euro crisis worsens

Gold prices hit a record $1,578.50 an ounce on Wednesday as concerns over the euro zone debt crisis deepened, and after minutes to the Federal Reserve's June meeting suggested some members were pondering the possible need for additional easing. Spot gold was bid at $1,572.99 an ounce at 1:03 p.m.

Commodities soar as Chinese data show pleasant surprise

Market sentiment buoyed as Chinese macroeconomic data surprised to the upside, temporarily overshadowing ongoing debt problems in the Eurozone. Oil prices climbed with the front-month contract for WTI crude oil rising to 97.96 and the equivalent Brent

China Energy, Seamwell to construct Inner Mongolia "clean coal" plant

China Energy Conservation & Environmental Protection Group (CECEP), a state-owned developer, will construct a US$1.5 billion "clean coal" electric power plant in Inner Mongolia with UK-based Seamwell International, Bloomberg reported. The contract is being signed at a UK-China summit attended by Chinese Premier Wen Jiabao and UK Prime Minister David Cameron.

UK Coal reports rising production, recovery on track

UK Coal PLC reported rising coal production in the first half and said its strategic recovery is on track. In a trading statement ahead of reporting results for the first half to June 25, the company said total production in the period was 4.1 million tonnes.

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