Europe Mining News

Gold-Ore announces increased gold production in second quarter

Gold–Ore Resources Ltd. (TSX:GOZ) today released Second Quarter (ending May 31, 2011) production results for the 100% owned Bjorkdal Gold Mine in Sweden. During the second quarter the mine produced 11,131 ounces of gold, an increase of 11% over the first quarter; during the month of May the mine set a new monthly gold production record of 4,208 ounces. The company projects 2011 gold production at 44,000 to 46,000 ounces.

Tel Aviv’s Jovella Exhibition to feature innovative design

Jovella 2011, Israel’s 8th international jewelry and diamond exhibition, will be held July 5–6 in Tel Aviv. The exhibition will feature a Designer Boulevard, as well as collaboration with Shenkar College’s Department of Jewelry Design.

Diamond tiara and art deco bracelet top items at Christie's important jewels

Christie's sale of Important Jewels held in London Wednesday totaled $12.3 million, representing 92% sold by value. The top lot was the Rosebery pearl and diamond tiara, circa 1878, which sold for $1.9 million, near […]

Belgium rough diamond exports + 71.7% in May

Belgium imported $1.41 billion worth of rough diamonds in May and exported $1.47 billion in goods, rising 99.3% and 71.7% respectively, according to figures released by the AWDC on Thursday.

Proto Resources & Investments announces a new development project in Germany

Proto Resources & Investments Ltd (“Proto”, “the Company”) has acquired rights over a nickelcobalt development project located in Saxony, Germany. The Kiefernberg project area is within the Granitulite Mountains licence that Proto has entered into […]

E.ON to sue over Germany's nuclear exit, an industrial info news alert

The German government is facing a major legal battle over its planned early exit from nuclear power as energy giants E.ON AG (PINK:EONGY) (Dusseldorf, Germany) and RWE AG (PINK:RWEOY) (Essen, Germany) want billions of euros in compensation. E.ON made its intentions clear this week when it outlined plans to take legal action against the government's decision to continue demanding its controversial nuclear tax, despite shutting down the oldest nuclear plants. In March, RWE announced that it would take legal action against the government's closure o those seven nuclear plants.

Drilling at Curraghinalt intersects 2.06 metres grading 111.6 g/t of gold and 1.11 metres grading 26.84 g/t of gold

Dalradian Resources continues to extend the known mineralization at its Curraghinalt Deposit in County Tyrone, Northern Ireland. Results from 6 step out holes and 1 infill hole are reported for a total of 15 intercepts greater than 5 gram metres.

Metinvest-backed united coal plans $350 million investment to expand coal mining in Eastern U.S.

United Coal Company (Blountville, Tennessee), a subsidiary of Ukrainian integrated mining and steel holding company Metinvest Holding LLC (Donetsk, Ukraine), is developing $350 million in coal mine projects in the eastern U.S. United Coal plans to add at least 4 million tons per year of coal mining capacity for use at U.S. locations and for export to Metinvest's steel mills in Europe and Ukraine.

Northland and Kiruna Wagon to design a prototype for new railcars

Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will exploit magnetite iron ore deposits, feeding a single, multi-line processing facility in Sweden. The process yields a very high-grade, high-quality magnetite iron concentrate. The Company is also preparing a Definitive Feasibility Study for the Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland.

Dalradian Resources announces drill results at its Curraghinalt Deposit, 15 intercepts greater than 5 gram metres

Dalradian Resources continues to extend the known mineralization at its Curraghinalt Deposit in County Tyrone, Northern Ireland. Results from 6 step out holes and 1 infill hole are reported for a total of 15 intercepts […]

Nuclear's renaissance still on track

The full cost of the Fukushima nuclear disaster is yet to be established but its impact on the nuclear sector as a whole may not be as bad as was first thought - even with the loss of Germany as an active participant.

EMED sees copper deposits for potential second mine in Spain

Toronto and London listed exploration and development company EMED Mining said on Tuesday it found significant potential new copper deposits near its Cerro Colorado open pit operations in Spain (pictured), sending its shares up over 5% in afternoon trade. In May the Cyprus-based company announced Andalucia, one of Spain's autonomous regions, gave approval for the plans to restart its flagship Rio Tinto copper mine, which was placed on care and maintenance in 2000. Production is scheduled to start in 2012 following further approvals.

The demand for physical gold remains robust as investors add bullion bars and coins to their portfolios

Last year Greece was in trouble. A year later the problem has deepened. While Greece may need up to 70 billion euros ($100 billion), on top of the existing EU-IMF loan, to keep from going bankrupt as it is unlikely to be able to return quickly to international borrowing markets sadly I think the country is doomed: Portugal, Ireland, and Spain are also drowning in debt.

Belarus ready to sell top potash firm worth up to $20bn

Cash-strapped ex-Soviet republic Belarus is negotiating the sale of its most prized asset, the potash producer Belaruskali, under the terms of a $3bn bail-out loan agreed this month with Russia, the Wall Street Journal reported on Tuesday. Responsible for one-third of the worlds potash fertiliser production, Belaruskali could be worth as much as $20bn. A frontrunner for a takeover is Russia's top producer Uralkali owned by billionaire Suleiman Kerimov. The combined group would easily push Canada's Potash Corp. from the top producer spot.

IDEX Online Research: polished diamond prices rise again in May

The IDEX Online Polished Diamond Index averaged 132.1 in May, setting a new record, as polished diamond prices continue to rise. The record surpassed the prior record level both last month and in the pre-recession […]

Gokhran may have enough palladium for exports in 2012, but what of 2013?

A Russian Finance Ministry official has reportedly said that the State repository has sufficient palladium stocks to continue to export in 2012, while it is also looking to upgrade some of its existing material (Gokhran has sufficient palladium to continue exports in 2012 - report). In their authoritative reviews released last month, both Johnson Matthey and GFMS addressed this issue and the two houses are of similar views with respect to the outlook on this issue.

Orvana completes US$15 million bridge loan

Orvana Minerals Corp. (TSX:ORV) announced today that, as contemplated in the agreement entered into with Fabulosa Mines Limited ("Fabulosa") on May 16, 2011 and previously announced by Orvana, it has entered into an agreement with Fabulosa for a six-month, secured convertible US$15,000,000 bridge loan from Fabulosa, which bears interest at a rate of 8% per annum.

Orvana announces commissioning of El Valle-Boinas/Carles gold/copper mine, northern Spain

Orvana Minerals announced the commissioning of its El Valle-Boinás/Carlés ("EVBC") gold-copper mine in northern Spain by Kinbauri España S.L.U. ("Kinbauri"), a wholly owned subsidiary of Orvana. EVBC initiated the start-up and commissioning of the mill May 31, 2011, with the first shipment expected in June. EVBC will initially produce at 70% capacity, increasing to its full annual target production levels of over 100,000 ounces gold, 3,900 tonnes copper and over 150,000 ounces of silver once the shaft is completed in early 2012.

After the dollar: what comes next?

My readers are familiar with my forecast that the US dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it.

BIV: Edgewater chasing down Spanish gold

BIV reports: Less than a year has passed since Vancouver junior Edgewater Exploration (TSX-V:EDW) picked up a gold property in Spain and already the company has increased reserves there 400%. On Tuesday, industry veteran and Edgewater president and CEO George Salamis said the company’s Corcoesto property contained some 325,000 ounces of gold in measured and indicated categories, and more than 1.1 million ounces in an inferred category. Read the full story here

Gold declines on speculation Greece to get funds, avoid sovereign default

Bloomberg reports gold may decline for a second day in New York as speculation that Greece’s debt crisis is closer to being resolved curbs demand for precious metals. The market news is quoted as saying, Palladium for September delivery was little changed at $781.50 an ounce. Platinum for July delivery was 0.2 percent lower at $1,830.80 an ounce.

Cameco, Uranium One shares fall on Germany’s nuclear decision

Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022. The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.

Ethiopian Potash share price soars, but on what?

Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.

Black Iron intersects 32.1% iron over 164 meters in Twin Hole at its Shymanivske project in Ukraine

Black Iron reported initial assay results from its ongoing confirmation ("twin hole") and metallurgical diamond drill program at the Company's Shymanivske Iron Ore Project in Ukraine. The Company is encouraged by the results of the initial two holes highlighted by 20342-T that intersected 164 meters grading 32.1% iron, including 83 meters grading 33.8% iron. Matt Simpson, President and Chief Executive Officer of Black Iron, commented, "As anticipated, the assay results from the first two twin holes align well with the historical drilling logs for the Project."

Iberian Minerals announces purchase of net profit interest from Trafigura and $62 million “bought deal” financing

Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that it has determined to exercise its right to purchase from Trafigura Beheer B.V. its 45.96% net profit interest in Compania Minera Condestable S.A. ("Condestable"), which is the subsidiary through which Iberian holds its approximately 98.73% interest in the Condestable Mine. In accordance with the terms of the CMC Purchase Agreement, Iberian retained the option to purchase the NPI from Trafigura at any time until June 30, 2011 in consideration of the payment of US$60,000,000 (the "NPI Buy-out").