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.
Europe Mining News
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 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 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 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 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.
Bloomberg reports that platinum group metals dipped today as concerns over the European debt crisis grow.
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.
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
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
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
Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017.
Reuters reports that nickel went untraded today, but still managed to fall as copper, aluminum and zinc also fell.
Australian businesses are reacting to the details of a new carbon tax which has been lauded by environmentalists as historic but condemned as economic madness by critics. Despite the criticism, analysts say Australia lags behind parts of the developed
German imports of hard coal are likely to rise by between 2 and 3 million tonnes over last year's 45 million tonnes, importers said on Monday, citing steel industry demand and needs to replace nuclear power generation. "The increases will be relatively
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
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 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 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.
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
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 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
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.
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
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.