Europe Mining News

Orsu completes infill drilling programme in connection with ongoing definitive feasibility study at its Karchiga project

LONDON, UNITED KINGDOM--(Marketwire - Sept. 1, 2011) - Orsu Metals Corporation ("Orsu" or the "Company") (TSX:OSU)(AIM:OSU), the London-based precious and base metals exploration and development company, is pleased to announce the on-schedule completion of 1,786m (46 holes) infill drilling of the central oxide ("Karchiga Central Oxide") and an additional 2,278m (26 holes) infill drilling of the North East sulphide ("Karchiga North East Sulphide") as part of the ongoing definitive feasibility study ("DFS") at its Karchiga volcanogenic massive sulphide copper deposit in Eastern Kazakhstan (the "Karchiga Project").

Copper falls on China exports, Europe factory data

Copper fell on Thursday due to weak export orders from big metal consumer China and a survey showing a contraction in manufacturing activity in the euro zone, but supply concerns kept a floor under prices. Three-month copper on the London Metal Exchange was $9,130 a tonne in official rings, down from a close of $9,275 on Wednesday.

LKAB iron ore trains equipped for ecodriving save energy and the environment

LKAB is investing in new technology that will make ore transport up to 20% more energy efficient and help to maximise utilisation of the Ore Railway between Riksgränsen and Luleå in Sweden.

Outotec collaborates with the Mongolian government to develop mining and metallurgical processing of Mongolian mineral resources

Outotec has agreed on collaboration with the Ministry of Minerals Resources and Energy of Mongolia (MME) during the visit of Ms. Tarja Halonen, President of the Republic of Finland, to Mongolia today. According to the agreement, Outotec supports MME as a technical advisor to develop mining and metallurgical processing of Mongolian mineral resources in the most sustainable way.

Romanian president gives Gabriel Resources stock a 16% kicker

Shares of Canada's Gabriel Resources have climbed 16% in the week since plans by its 80%-owned Rosia Montana Gold Corp to build a massive gold mine in Transylvania received public backing from the Romanian president. Gabriel first obtained the concession in 1999 and has already spent $500 million advancing the project and has another $175 million left, but needs several more environmental approvals to establish an open-cast mine (pictured) which once in production will be Europe's largest producing 500,000oz/year.

Copper climbs for sixth day in London trading on growth optimism

Aug. 31 (Bloomberg) -- Copper climbed for a sixth day in London as speculation the U.S. Federal Reserve will stimulate economic growth heightened optimism about raw materials demand. All six industrial metals on the London Metal Exchange gained for a

ABB wins contract for new mill drive system at Neves Corvo copper mine in Portugal

ABB, leading power and automation technology group, was recently contracted to supply the drive system for a new semi-autogenous grinding (SAG) mill at Neves Corvo, Portugal.

Nortec (NVT) Signs Agreement for $20.5 Million Option of the LK Project, Finland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - Further to the press release dated July 27, 2011, Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company"), is pleased to announce that it has signed an Option and Joint Venture Agreement ("OA") with Otterburn Ventures Inc. (CSNX:OTB) ("Otterburn"). The OA gives Otterburn the option to earn up to an 80% interest in Nortec's Läntinen Koillismaa project, a 100 % owned palladium-platinum–gold–copper-nickel property ("LK Project"), located in north central Finland.

Empire provides progress update on Demirtepe copper-gold project, Turkey

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to provide an update on the Demirtepe Project in western Turkey where drilling by Empire has consistently encountered significant grades and intervals of copper-gold-silver and molybdenum skarn mineralization in the Main Zone, including Discovery Hole DTH-001 which intersected2.02% copper, 0.96 g/t gold and 21.64 g/t silver over 47.35 m from 112.2 m to 159.55 m, including 8.0 m of 9.1% copper, 4.68 g/t gold and 95.3 g/t silver.

Beowulf Mining positive on Swedish iron ore projects

Beowulf Mining ( LON:BEM ) said this morning that it continues to retain a “positive outlook” for the potential of its flagship iron ore projects as it reported interim results for the six months to the end of June. The firm, which owns several

Banks push into physical iron ore trading

9:56am BST By LONDON (Reuters) - An increasing number of investment banks are poised to muscle into the trading of physical iron ore, a business long dominated by trading houses, lured by the market's huge size and its shift to a more transparent pricing

Jewellery hawked to feed demand for gold

THE gold market boom is encouraging individuals in the US, Europe and Asia to cash in their jewellery.

Avrupa commences drilling at three targets in Kosovo

Avrupa Minerals Ltd. (TSX VENTURE:AVU) is pleased to announce that drilling has started at the Grbes target on the Kamenica license in eastern Kosovo, as part of a 900-meter first-pass exploratory drill program.

Rusal's profitability drops 20.5% due to increased debt charges and decrease in net share

UC Rusal, the world's largest aluminum producer, said on Monday that it had net profit of US$1.085 million for the first half of 2011, a decrease of 20.5% compared to net profit of US$1.365 million for the first half of 2010, due to certain non-cash items, mainly increase in the effective interest charges on restructured debt and decrease in net share in results of Norilsk Nickel. Revenue increased by 18.8% to US$6.323 million in the first half of 2011, as compared to US$5.321 million for the first half of 2010, mainly due to increased prices and improved product mix.

Russia gold reserve at 27 million troy ounces on August 1

Russia’s gold reserve on Aug. 1 stood at 27 million troy ounces, or 839.7 metric tons, worth $43.64 billion, the Central Bank of Russia reported Monday.

Two RUSAL partners seek to sell out

Two partners in the world's top aluminium producer, UC RUSAL , want to sell their stake to a third tycoon, Alisher Usmanov, owner of an iron ore miner and shareholder in Norilsk Nickel, Vedomosti reported on Friday.

Kyrgyzstan to stop exporting gold ore

The Central Asian republic of Kyrgyzstan announced stopping gold ore exports and also decided to increase export duties for gold flotation and gravity concentrates.

Lucara Diamond to Start Trading on Toronto Stock Exchange

Rough diamonds (illustrative) Lucara Diamond Corp. will begin trading on the Toronto Stock Exchange as of the market opening on August 29, 2011, under its current trading symbol, LUC, the company announced on Thursday. The diamond company's shares were

Major power users book into nuclear

Generators and major users of power in Belgium have come together in a consortium called Blue Sky to contract supplies of nuclear power.

Severstal eyes iron ore, coal assets in Africa, Russia

Russian steelmaker OAO Severstal's Chief Financial Officer said Friday the company is interested in iron ore projects in Africa and coking coal projects in Russia and former Soviet Union countries.

Siemens and Outotec to build pellet plant in Russia

NLMK Group's subsidiary Stoilensky has awarded a €280m contract to a consortium of Siemens VAI and Outotec for the construction of an iron pellet plant at Stoilensky, Russia.

Over the counter trade in Russia values Alrosa at $8.6 billion

Interfax reports Russia state-owned diamond miner Alrosa is up 22% on the country's trading board for unlisted stocks since it was first quoted there on July 18. The price of US$31,495 per share, implies a market value of $8.6 billion. Alrosa accounts for around 25% of world output and for the full year sales of $4.7 billion is expected. The secretive firm has been feeding the market more information recently in anticipation of a 2012 public offering that seeks to raise up to $3 billion.

The secrets of diamond mining are forever

24/7 Wall St says the global diamond mining industry may be one of the world’s best-kept secrets and diamond mining is not unlike the oil business, where about 100 massive fields supply about half the world’s oil.

European steel producers continue to face tough times

European producers will continue to face tough times ahead in 2011 on falling sales figurres for both long and flat steel products in 2011, according to UK consultancy MEPS.

Northland Resources may lease Narvik iron ore terminal

The agreement between the Port of Narvik and Northland Resources SA today was confirmed by the board of Narvik Havn KF. The agreement grants Northland the permit to lease the Narvik Terminal, Fagernes, south of the city centre.