Europe Mining News

French elections, Brexit and gold

The main developments in Europe which may affect the gold market – except the turmoil in the still fragile banking sector – are a run-off in France and Brexit. Let’s analyze them and their potential impact on the gold prices.

Anglo’s sale of Drayton coal mine spooks horse breeders

They fear the buyer, Malabar Coal, may revive mining at Drayton, which they claim would have have severe impacts on the area’s profitable stud farms and wineries.

Another BHP investor pressing for oil spinoff, board shake-up

The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.

Coloured diamonds becoming everyone’s favourite, auctions show

Diamonds – and especially the fancy colored stones – continue to hold investors in thrall, and auction houses are ensuring the fascination endures with sales featuring some stunning selections.

De Beers pioneers research programme to make carbon-neutral mining a reality

De Beers Group today announced it is leading a ground-breaking research project that aims to deliver carbon-neutral mining at some of the company’s operations in as few as five years.

De Beers Group returns US$5 billion to its partners in 2016

De Beers Group increased returns to governments, communities, supply chain partners and its joint venture partners by 26 per cent to US$5 billion in 2016, according to its latest Report to Society, published today.

Gem Diamonds found this high-quality 80-carat rock in Lesotho

The D-colour Type-II diamond is one of the highest-quality stones to come out of the company’s Letšeng mine.

2017 global natural diamond production forecasted at 142M carats worth $15.6B

The top 10 largest mines in the world by value produced are estimated to represent 58% of global production.

Centamin shares fall after reporting profit and production declines

Despite the drop in production, the gold miner kept guidance unchanged for its 2017 financial year at 540,000 ounces.

K+S Potash cuts the ribbon at its Canada’s Legacy mine, now ‘Bethune’

It's the first potash mine built in the Canadian province of Saskatchewan in more than 40 years.

Greece to sell coal-fired plants, mines as part of bailout deal

Athens will begin testing the waters for such sale in November, with the goal of wrapping up the sale by June 2018.

South32 buys stake in Canada’s Arizona Mining for $81 million

The Perth-based miner has agreed to purchase 45 million shares of the Canadian junior at a price of $2.45 per share, or about 15% of Arizona Mining’s outstanding shares.

Record outflows from gold ETFs as price plumbs 3-week low

It's been a rough set of trading sessions for the yellow metal.

Stellar Diamonds jumps on Tongo-Tonguma tribute mining agreement

Deal creates one of the largest diamond mines in West Africa.

Norilsk Nickel sues Botswana over thwarted mine stake deal

The Russian miner wants to recover $271 million it lost when a state-backed company failed to complete the acquisition of a 50% stake in its Nkomati mine in South Africa.

Czech mining industry pins hopes of revival on lithium

The European country holds between 1.2 to 1.4 million tonnes of lithium, located mostly around the tiny village of Cinovec, on the border with Germany.

Fresnillo silver output up almost 11pct in first quarter, but gold falls

The firm, the world's largest primary silver producer and Mexico's second-largest gold miner, said output of the grey precious metal hit 13.5 million ounces in the quarter.

Caterpillar soars as first quarter sales jump for first time in over two years

The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.

Sandvik starts the year with better-than-expected profit

Miners have begun spending in equipment again, the Swedish firm's results show.

More iron ore comes to the market as Anglo’s output soars in Q1

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

Galantas Gold plummets as it halts Irish mine expansion on terrorism fears

The miner had to put its plans on hold because the Police Service of Northern Ireland said it cannot secure daily anti-terrorism cover for its blasting operations at Omagh gold mine.

BHP top shareholders step up pressure for oil spinoff

They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.

Harrogate company helps discover diamonds

A family-run Yorkshire firm has just dispatched its largest order – nearly three miles of hoses to a diamond mine in Angola.

India’s Supreme Court won’t try forcing UK to return Kohinoor diamond

The court said it cannot interfere in the diplomatic process nor can it direct another country to not auction the gem.

Strike at Escondida hurt Rio Tinto copper output

Production for the first three months of the year slumped 37% compared with the same period of 2016.