Europe Mining News

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

Ultra Lithium acquires 344 square kms of Serbian mineral concessions with lithium and boron potential

Posted by Editor Friday, 08 July 2011 Ultra Lithium Inc. (TSX VENTURE:ULI) ("the Company" or "Ultra") is pleased to announce that it has been granted four (4) additional lithium/boron exploration licenses (prospects) in the Republic of Serbia through its

Lynas, Siemens Form Rare Earths Joint Venture Pact

Bloomberg reported that Lynas Corp (ASX:LYC) and Siemens (ETR:SIE) have formed a joint venture in rare earth supply.

China may block Russian bid for potash control on Belarus crisis

Bloomberg reported that Russia's attempt to capture a huge stake in global potash resources from Belarus may be trumped by China.

TurkPower to acquire majority interest in Kuluncak iron ore mine

TurkPower Corporation announced the purchase of 50.09% working interest in Maksor Madencilik Sanayi Ve Ticaret Anonim Sirketi the 100% private owner of the Kuluncak iron ore project in Turkey.

Rio Tinto appoints former Barclays CEO Varley to board

Rio Tinto PLC has appointed John Varley, the former chief executive of Barclays PLC, as a non-executive director to Rio Tinto's board of directors in the U.K. and Australia, starting Sep 1.

Deserted UK tin mine transformed into 1.4MW solar power plant

An out of use tin mine in the south west of England is on its way to becoming a hotspot for renewable energy. Earlier today, more than 5,600 solar panels on the site were fired up by Solarcentury and UK-based solar developer Lightsource Renewable Energy.

PM urged to protect steel industry

A union leader has called on David Cameron to take long term measures to help the steel industry, after jobs in Lincolnshire and Teesside were cut.

Trading opportunity seen in zinc and lead: SMC Global

Zinc and Lead have shown stunning recovery recently as Greece passed austerity measures but this will be short lived and it is only relief measure because overall euro zone problems is much bigger.

Gold stocks to outsparkle gold in post-QE2 world

Gold's performance has eclipsed that of gold mining stocks this year, but gold equities now are likely to take the upper hand as the flow of cheap US cash slows and miners boast juicy margins and good growth prospects. Gold's status as a quasi-currency and safe haven has helped pushed the price of the metal up about 20 per cent since the start of the year to above $US1,520 an ounce, making it one of the top performing asset classes of 2011.

Platinum palladium to resume uptrend soon

Platinum, palladium to resume uptrend soon Commerzbank looks for Platinum to rise into year-end. These markets “tightened considerably” last year due to a rebound in demand following the recession-related weakness of the previous year. “The

Gold turns bullish again on resurface of sovereign debt issues

The past week has given a fillip to the gold price as Eurozone sovereign debt issues have resurfaced - ideal circumstances for precious metals appreciation. It was an interesting week for precious metals, as sovereign debt worries faded, only to