Europe Mining News

Potash Corp. leads fertilizer stocks on rampage

A string of positive developments have lit a fire under North American potash stocks with Potash Corp. of Saskatchewan leading the charge. The industry bellwether has made investors almost $5 billion richer since Tuesday after an Indian bid for Belarus's state-owned producer valued that company at close to $30 billion. The news came after the EU's largest player said its profits could jump 40% over the next six months and disappointing corn harvests in the US boosted demand for the soil nutrient. Potash Corp. dragged higher the whole sector which also saw the listing of a potash from waste firm on Monday.

Ormonde-Antofagasta venture to extend Spain copper project

Ormonde Mining announced on Monday it has been awarded four new permits, which extend the area of the La Zarza copper project in the Huelva Province of southern Spain by around 95 square kilometres. La Zarza is being developed in a joint venture of London-listed Chilean miner Antofagasta dating back to October 2009. In terms of the deal Antofagasta could earn an initial 51% interest in the La Zarza permit area by spending US$7 million over a three year period on exploration activities.

Yukon-Nevada Gold closes $120 million agreement with Deutsche Bank

Yukon-Nevada Gold announced that it has closed the Forward Gold Purchase Agreement with Deutsche Bank AG. Deutsche Bank has funded a US$120 million prepaid gold forward facility to Queenstake Resources USA, Inc, a wholly-owned subsidiary of the Company. The facility is a forward contract structured to deliver 173,880 ounces of gold over a 48 month term.

Gold declines a third day in London on reduced investor demand

Aug. 15 (Bloomberg) -- Gold declined for a third day in London as gains in equity markets tempered concerns that economic growth is slowing and reduced demand for the metal as a protection of wealth. The MSCI All-Country World Index of equities climbed

Eskom signs uranium deal with Russia

POWER utility Eskom yesterday signed a long-term contract with Russian state uranium trader Tenex to supply enriched uranium, according to the head of Russia’s state nuclear corporation, Rosatom, which owns Tenex. Low-enriched uranium is used as fuel

Belgian Diamond Industry Joins Fight Against Famine in the Horn of Africa

The Antwerp World Diamond Centre (AWDC) is joining the battle against famine in the Horn of Africa and other humanitarian disasters by supporting the Belgian Consortium for Emergency Relief, 1212.

Tata Steel’s profit increased three-fold

Tata Steel has reported its net consolidated profit increased three-old, amounting to Rs 5,346.55 crore. The said profit is for the first quarter ending on June 30.

UK Investment fund credit line for Bor copper company in Serbia

UK London based Investment fund “Red kite mine”, will provide credit of 30 million Euros for opening of copper and gold mine Cerovo 1, within the Mining basic company Bor (RTB).

U.S. may ship more coal, raising EU supply

The U.S. may increase coal exports, further boosting supply of the commodity in Europe, Macquarie Group Ltd. (MQG) said. “A big push” to encourage natural-gas burning in the U.S. may drive up coal exports to Europe, China and India, said Hayden

Stockpile: Gold companies take advantage of improving market

Mining companies on London’s main market showed improvement this week to recover some of the significant losses that have hampered global stocks during August.

Rusal plans to export 240000 tonnes of alloys for automotive industry in 2011

Interfax reported that UC Rusal plans to export 240,000 tonnes of primary foundry alloys in 2011 for the automotive industry. Those exports about to roughly 24% of Rusal total expected alloy exports this year.

Over 10000 people benefit from RUSAL ALSCON water project

RUSAL ALSCON, the Nigerian subsidiary of United Company RUSAL announced the completion of 7 water projects to complement the existing three projects that provide potable water for over 10,000 people in Ikot Abasi LGA where the plant is located.

Gold Falls in London as Rally to Record Spurs Investor Sales

Gold futures may rise in New York on speculation slowing economies in the U.S. and Europe will boost demand for safer investments.

Mongolia Energy Riches Attract Neighbors and Outside Interests

Pity poor Mongolia, bereft of fiscal resources, caught between the ambitions of its superpower neighbors, Russia and China. Ulaan Bator’s situation is akin to interwar Poland, dexterously attempting to reconcile its foreign policy between the USSR’s hammer and Nazi Germany’s hard place.

The State Service of Mining Supervision and Industrial Safety implements a special regime of control in the Ukrainian coal industry

The inspectors who control observance of legislation in the coal industry over the next month will perform their duties in a special mode. This was announced the Head of the State Service of Mining Supervision and Industrial Safety Alexander Hohotva

German newspaper tells its readers to buy gold

Gold Hedge reports that a German newspaper is telling its readers that it's time to buy gold. Bild Zeitung, is Germany’s biggest- selling newspaper, is the best-selling newspaper outside Japan and has the sixth-largest circulation worldwide. Bild encouraged German people to invest in gold as the global debt crisis continues to deteriorate and cause turmoil in global markets.

BBC: torture in Marange Diamond Fields

Stephane Chardon, the Chair of the Kimberley Process Certification Scheme's (KPCS) powerful Working Group on Monitoring (WGM), convened an emergency teleconference this week a day after the airing of BBC's Panorama investigative television program

Antwerp's Net Rough Exports Double in a Single Month

Belgium's net rough diamond exports soared in July, rising to $444.4 million, up by 41.8% year over year and 127.2% compared to June's net exports.

The dynamics of buying gold only growing – Pravda

Russian view on the rising gold price and if gold is in a bubble if, and when, it will collapse - Not soon say analysts but short term correction perhaps on the cards. The price of gold continues to grow at a fantastic rate, reaching new heights. Not

Russian H1 2011 nickel exports dropped by 17%

According to data released by Russian Customs, Russia exported 84,400 tonnes of nickel in the first half of 2011, down by 17.3% YoY. However, the country's nickel export values in the first six months of 2011 increased slightly by 0.6%.

Mintec opening UK office for Europe, North Africa and Central Asia

Arizona-based Mintec will broaden the global reach of its MineSight software by opening a London office October 1. Five technical staff will support and train Mintec’s clients in Europe, North Africa, and Central Asia.

This German copper-moly miner gives a dram – 15 billion to be exact

Radio Free Europe reports an increase in world prices for base metals has made a 60-year old German-owned mining company the largest corporate taxpayer in Armenia. Data from the positively Soviet-sound State Revenue Committee released on Tuesday show the Zangezur Copper and Molybdenum Combine paying more than 15 billion drams ($41 million) in various taxes and duties in the first half of this year, compared to just 5.5 billion drams the same period last year.

Elizabeth Taylor’s Famed Jewelry and Art Collection for Sale

Renowned auction house Christie's has announced a new exhibition and sale dedicated to the collection of late British-American actress Elizabeth Taylor in September 2011.

Russia's Mechel H1 coking coal output up 28 pct

MOSCOW, Aug 10 (Reuters) - Russian mining conglomerate Mechel said on Wednesday that first half coking coal concentrate output reached 4.5 million tonnes, up 28 percent from last year thanks to strong demand. Overall coal output declined by 5 percent

Ukraine to begin commercial gold mining

This year Ukraine will start its own large-scale gold mining, according to the representative of the State Service of Geology and Mineral Resources of Ukraine Eduard Stavyts'kyi. The ministry official confirmed that Ukraine's gold resources have been estimated at 2,500-3,000 tons. The State Service of Geology and Mineral Resources of Ukraine explain the decision to begin mining Ukraine's gold deposits by the radical growth of the world price of gold.