Europe Mining News

Russian ministries reject proposed windfall tax on metals and mining firms

Russian government ministries have agreed that a proposed windfall tax on metals, mining and chemical companies was inappropriate.

Russia in gold buying spree ahead of tougher US sanctions

Moscow bought 26.1 tonnes of gold in July, more than in any other month this year.

Merkel allies pile on the pressure to keep coal plants running

Germany’s states are upping pressure on Chancellor Angela Merkel to keep coal-fired power for as long as 30 years as the nation approaches a deadline for setting an exit date from the fossil fuel.

Dalradian shareholders advised to back Orion Mine’s $230m takeover bid

The offer is priced at a 62% premium to the explorer’s share price at close on June 20, a day before it was announced.

Polymetal International declares dividends for H1

Polymetal International plc announced today that the Board of Directors of the Company has resolved to pay an interim dividend of $ 0.17 per share.

Three companies from Canada, China, Russia bid for Serbian copper mine

Serbia's government said it was seeking a partner to invest at least $350 million in debt-laden RTB Bor.

Lucara Diamond moves forward with ‘stone by stone’ sales plan

Miner will include Sarine’s mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.

Metso is relocating its waste recycling business in Denmark

Metso has decided to relocate its' waste recycling business to new built factory and office facility in Denmark. Part of the relocating costs will be funded by selling the current property and estate in Horsens, Denmark. Metso has received a firm purchase offer from a local developer. 

Hedge funds turned record short on metals just before the rout

As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall.

Turkish cenbank to allow gold for forex, location swap deals

The Turkish central bank will allow gold for foreign exchange and location swap deals in order to provide physical gold transactions.

Poland's KGHM optimistic of meeting 2018 output plan

Poland's KGHM will achieve its 2018 copper production plan despite a fall in output in the first half of the year.

Turkey tariffs hike on US goods threatens country’s coal imports — WoodMac

Wood Mackenzie predicts that, in the short term, demand for coal will fall due to its higher prices. In the longer term, the new tariffs will slow Turkish economic growth and with that, further weaken the demand for coal.

Copper producer KGHM's profit halves in second quarter

KGHM said that second quarter net profit fell to 171 million zlotys ($45 million) and missed analysts forecasts of 361 million zlotys.

Gold trading volumes double in Turkey amid currency crisis

First Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell.

Metals poisoned by Turkey contagion as copper nears bear market

Base metal markets tumbled on Wednesday, with most contracts falling more than 2 percent in London. Copper sank below $6,000 a metric ton and is set to close in a bear market.

Gem Diamonds big discoveries reach a dozen

The company that digs the world’s most valuable diamonds may soon become the one that also finds the biggest.

Look away from the US and gold prices are soaring higher

Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset.

Soviet collapse echoes in China’s Belt and Road

Like the Soviet Union in the 1970s, China is coming to the end of a long labor-force boom and hoping that an orgy of investment will keep the old magic going while stabilizing its fraying frontiers.

Electric car bets boosting nickel demand, Nornickel says

Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal.

Russia's richest lose $3.1B as tax plan hits shares

Russia’s super-rich tycoons lost more than $3 billion in one day.

CSN hires Jefferies to sell assets in Portugal, Germany -paper

The Brazilian steelmaker is also seeking to close a streaming deal next week with a Canadian bank for its mining output in coming years.

Egyptian copper's origin revealed

Two new studies reveal where ancient Egyptians got the red metal from.

While NLMK's Lisin warns against higher Russian mining taxes: Kremlin backs the discussion

Russian President Vladimir Putin agrees that a proposal to prop up the budget by raising more revenue from metals and mining companies should be discussed, but has not made any decision.

Sunstone Metals to sell Scandanavian copper asset for $30.3 million

The two companies have just signed a non-biding letter of intent.

Glencore credits China's 'Blue Skies' program for strong H1

Protectionism could limit future growth.