Europe Mining News

Large diamond retailer drops 22% after cutting guidance

Pandora cuts expected revenue from 7 to 10 per cent to 4 to 7 percent.

Sole supplier puts cobalt (and EV) market at risk: IEA

For the International Energy Agency, having the Democratic Republic of Congo as the supplier of almost 60 per cent of the global production of cobalt is a risky business.

Canadian junior ready to start drilling for copper in Spain

Pan Global’s subsidiary Minera Águilas has received the necessary permits to start its exploration campaign on the first two sections of the Águilas project.

USTR reviewing Turkey's trade preferences after tariff retaliation

Imports of jewelry, precious metals and stone products would be under the microscope.

No love for KAZ mega copper project

Shares down by a third after London-listed miner pays $900m for Russian copper project that will take another $5.5 billion to build.

Canada's Kinross Gold puts Mauritania mine expansion on hold

Kinross Gold Corp said on Wednesday it was "pausing" expansion work at its Tasiast gold mine in Mauritania after a government request for talks to improve the country's economic benefits from the miner's activities.

Replenishing economic diamond resources, a daunting task for miners

Given that most of the high-economic diamond deposits in the world have already been put into production, diluted via expansion, or depleted, going forward the economics of diamond mines will inevitably gravitate towards higher-cost, lower-value operations.

EU regulators say Aurubis, Wieland copper deal may curb competition

EU antitrust regulators on Wednesday voiced concerns about German Wieland's bid for copper smelter Aurubis' flat-rolled products business, saying the deal may hurt competition.

LME to trial electronic closing prices for nickel next year

The London Metal Exchange (LME) launched on Wednesday a consultation to trial in the first quarter of next year the use of its electronic system to determine closing prices of the three-month nickel contract instead of open outcry.

Killed Russian journalists said to have been working on story involving mining in CAR

They were said to be investigating a private Russian security company operating in CAR as well as Russia’s interests in the local diamond, gold and uranium sectors.

Rio Tinto down despite $7.2bn cash return to investors

Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.

Glencore’s cobalt output up by almost a third thanks to Congo mines

Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.

Fresnillo soars despite profit drop on Silverstream revaluation

Silverstream valuation had an adverse effect on profit before income tax, which came down 16.6% to $323 million.

Turkish steel makers eye exports to West Africa amid US tariff setbacks

Turkey was looking to boost its trade with West Africa and sub-Saharan countries, where there is demand for the less capital-intensive steel products.

Caterpillar says tariffs will wipe out up to $200M

Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019.

Krupp foundation rejects break-up of Thyssenkrupp – Der Spiegel

The head of the Thyssenkrupp foundation ruled out a break-up of the German steel-to-submarines conglomerate.

Chile's Escondida mine workers reject labor offer, to vote on strike

The vote began on Saturday and will continue through the middle of next week.

Workers at First Quantum's mine in Spain go on strike

They are demanding hazard pay for subcontractors.

An 85.7 gram gold nugget found in Scotland

Believed to be the UK's largest.

Eldorado expects higher gold production in 2018

The Vancouver-based miner said that the expected growth would be driven by Kisladag, its flagship gold mine in Turkey.

BP pays $10.5 bln for BHP shale assets to beef up U.S. business

A unit of British oil major BP PLC will acquire BHP's unit which holds the Eagle Ford, Haynesville and Permian assets for $10.5 billion.

Peruvian mining society says approval of Quellaveco project marks a new era for the country

The president of Peru’s National Society of Mining, Petroleum, and Energy said the project will create 9,000 jobs during its construction phase and additional 2,500 once it goes into production.

Lundin Mining CEO Conibear to retire

Canada's Lundin Mining Corp said Chief Executive Officer Paul Conibear is retiring and also reported a 3 percent rise in second-quarter profit on Wednesday.

Antofagasta copper output up in Q2 despite Los Pelambres pipeline issue

Production in the second-quarter of the year jumped 6.1% to 163,200 tonnes, as higher output at its Centinela and Antucoya mines mitigated declines at Los Pelambres and Zaldívar.

Liebherr USA Co. celebrates the groundbreaking of its new headquarters in Newport News, VA.

This investment will greatly impact the company’s operations in the U.S. and drive Liebherr’s strategy for long-term growth. With shovels in hand, Mrs. Sophie Albrecht, Jan Liebherr, Newport News Mayor McKinley Price, Managing Directors of Liebherr USA, Co., its building partners and government officials broke ground during the ceremony.