Europe Mining News

Drilling to start inside moors national park for new UK potash mine

The Yorkshire Post reports Sirius Minerals has started a concept study at its York Potash project, paving the way for mining to begin at the UK’s only seam of potash. Sirius has secured mineral rights for 631 sq km of land between Whitby and Scarborough with plans to open a new potash mine and create up to 5,000 jobs. Sirius is about to start drilling two temporary boreholes in the North York Moors National Park. Once it gets an idea of what the potash seam looks like under the ground it can plan where to site the mine.

Tsurumi strengthens Swedish presence

Tsurumi (Europe) GmbH has established a Swedish subsidiary in partnership with its Swedish distributor Tsurumi-Intec Pump AB. Tsurumi has been present in Sweden through for years but will now serve the market directly. Tsurumi will draw on its 90 years of experience to deliver robust and reliable pumps to the Swedish mining and construction industry. Read more

Asian stocks climb, led by raw material producers as metals rise

July 5 (Bloomberg) -- Most Asian stocks advanced, driving the regional benchmark index higher for a sixth day, as raw material producers advanced after metal prices increased and amid optimism Greece will avoid a default. BHP Billiton Ltd., the world’s

Gold demand keeps rising as fear factors emerge

Many managers and strategists say they cannot understand why investors buy gold. Yet the price has risen steadily, and shows little sign of softening. Switzerland and Germany are the top European centres for ‘investment’ gold demand – even through the bear market in gold some years ago, demand in Germany was more resilient than in other markets, and the asset has always been easier to access.

Antwerp diamond industry ties up with China

AFP reports the Antwerp diamond industry, world capital of the gem, on Monday announced an investment deal with leading Chinese bank ICBC, which could act as an intermediary to provide finance for diamond transactions in Antwerp. Around 80% of the trade in uncut diamonds and half of world trade in cut stones transits through the Flemish town, which is facing increasing competition, including from India.

High River Gold gets mining license for Burkina Faso project

Canadian miner High River Gold Mines Ltd said it received a 20-year mining license in Burkina Faso to explore and construct a gold mine at its Bissa gold project in West Africa. The company, which has properties located mainly in Russia and Burkina Faso in Africa, said the license could be renewed.

CIS originated pig iron to Europe stable

It is reported that pig iron shipped from Commonwealth of the Independent States maintained stable in European market last week. Yet, rumors spreading through the market players warn that the spot market has a possibility of going downward in future.

Evraz Group plans to build new section rolling mill in southern Russia

It is reported that Russian mining and steel producing company Evraz Group is going to build a new section rolling mill in southern Russia. The production capacity of the mill is expected to be 450,000 tonnes of products per year.

Cherepovets Steel Mill installs new loading crane at its converter plant

It is reported that Cherepovets Steel Mill, a subsidiary of Russian steelmaker Severstal has started installation of a new loading crane No 8 at its converter plant worth RUB 800 million. The new crane's load-carrying ability is 520 tonnes, 70 tonnes

Turkey steel import value hits USD 2 billion in May

According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute and the Turkish Undersecretariat of Customs, in May this year Turkey's iron and steel imports totaled USD 1.58 billion decreasing by 7% YoY and up 2.18%

Platinum, Palladium ETFs Down on Growth Concerns

Exchange traded funds that invest in platinum and palladium were lower in the first half of 2011 on concerns about the global economy, the Japan earthquake and the European debt crisis. Platinum and palladium are precious metals like gold and silver. However, they are also favored for their industrial uses, such as automobile production.

Central banks in emerging markets increase gold reserves on growing economic concerns

The total gold reserves of central banks worldwide fell by 9.6 per cent between 2000 and 2008 but has subsequently increased by 2.2 per cent from 29,870 tonnes in 2008 to 30,535 tonnes at the end of 2010. This is mainly a result of rising demand for gold from central banks with surplus liquidity in some emerging markets, such as China, India, Russia and oil producing countries in the Middle East region.

thyssenkrupp unit hit by rail cartel probe

cartel probe, Deutsche Bahn, rail, ThyssenKrupp German authorities said that they are investigating 10 steel and rail companies, including thyssenkrupp subsidiary GfT Gleistechnik GmBH, for operating a cartel between 2001 and 2008. Prosecutors said that

Fire at Sapa Profilers plant in Sweden

fire, plant, Sapa Profiler, Sweden A fire broke out in Sapa Profiler´s extrusion plant in Finspång, Sweden on Wedensday. The rescue services and fire brigade were able to limit the fire to the anodising department, where all the production equipment

Meps: Consolidation in the EU stainless steel sector is a step nearer

closer, consolidation, Europe, Meps, steel sector Europe's four major stainless steel producers have all been involved in significant restructuring since the beginning of 2011. It seems unlikely that this is mere coincidence. It is perhaps

TATA Steel expects higher profit at European Unit

European Unit, higher profit, Steel, TATA It is reported that TATA Steel Ltd expects operating profit at its European unit to rise by two thirds of its current level to USD 100 a metric tonne over the next three years as it focuses on more value added

Greece’s central bank increases its gold reserves

Greece’s central bank increases its gold reserves Greece’s central bank increased its gold reserves marginally in May, choosing not to sell some of its vast holdings as efforts continued to trim the public debt. The International Monetary Fund’s

Silver, gold fall on global cues

Silver and gold prices fell further at the bullion market on moderate selling by stockists and investors amidst continuing bearishness in the global markets. Silver ready (.999 fineness) declined by Rs 125 per kg to end at Rs 51,585 from Friday's level of Rs 51,710.

Copper hits nearly 2-month high after Greek vote

Jun 29 (Reuters) - Three-month copper on the London Metal Exchange hit its highest in nearly two months on Wednesday at $9,280 a tonne as the euro rallied on optimism Greece will be able to avert a default, after its parliament backed an austerity bill.

Copper steady on relief over Greece, end of H1

* Copper hits two-month high * Copper stocks fall for sixth session (Updates after U.S. data) By Melanie Burton LONDON, June 30 (Reuters) - Copper h it its highest in two months on Thursday , supported by investors' greater appetite for risky assets

Brazil's Samarco orders world's largest iron ore pelletizing plant

Outotec has agreed with Samarco Mineração S.A. on a turnkey delivery of the world's largest iron ore pelletizing plant in Brazil. The contract value is approximately EUR 200 million, which will be booked in Outotec's second quarter order intake.

China pays more in new potash deal with Russia, Belarus

Belarusian Potash Company, the agent for Uralkali and Belaruskali, has sold potash to two Chinese fertiliser importers at prices $70 a tonne higher than in the first half.

Tata Steel aims at investing at early stage of mine

Entirely reliant on non-captive sources to feed its plants in Europe, Tata Steel will stick to long-term policy of being an "early stage investor" when it comes to acquiring raw material assets, a senior company official said.

Nickel prices continue to slide

Nickel is projected to be in a surplus over the next year and a half, as weak stainless steel demand has caused cuts in production. There are supporting factors as the market heads for its bottom.

World number two potash producer says prices may reach $600/tonne by end of year

Reuters quotes the chief executive of Russian potash producer Uralkali telling an investment conference in Moscow on Tuesday that spot potash prices could reach $600 per tonne by the end of the year. Uralkali also said it was considering entering into a transaction with Belaruskali, contradicting a Belarus deputy prime minister who earlier said the $20bn state-owned company was not for sale. A Belaruskali-Uralkali merger would create a group with annual production of 21m tonnes, dwarfing current number one Canada’s Potash Corp.