Firm has determined it's not economically viable to extend the life of the diamond mine, which can only be accessed by air year round, or by a winter road for five or six weeks in January and February.
Europe Mining News
Shareholders of miner Stratex International blocked reverse takeover of Australian-listed Crusader Resources and voted CEO Marcus Engelbrecht out of office.
Mining investment in Peru set to fall for a fourth straight year in 2017, but Mining Minister Cayetana Aljovin expects it to bounce back in 2018.
Africa largest untapped source of growth for industry and would provide huge opportunity, says Rio Tinto's chief executive of energy and minerals.
The equipment maker has a very strong presence in Europe, Australia and Africa, but says in North and South America there's plenty of room for improvement.
The company has found six diamonds larger than 100 carats in the first nine months of the year, compared with just four throughout 2016.
Stuart Chambers faces investor calls for clear direction at the company, long seen as a potential takeover target.
A source said the LME had made contact with established online venues Trayport and EBS, which are currently focused largely on energy and foreign exchange.
In third-quarter production report, Glencore lowered its output guidance for copper, zinc and coal but said full-year earnings would not suffer.
Fura Gems aims to resume production at the mine within six months of the deal closure.
Prices for cobalt metal, used in production of electric vehicle batteries, have tripled to nine-year peaks above $30 a pound from below $10 a pound in late 2015.
The next few years will likely see the biggest shake-up of gold mining's top tier in a decade.
Demand for cobalt is expected to soar in coming years as governments battle pollution and more electric cars are built.
Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital.
Company is finishing up first field trial for its T 236 diesel electric truck and it expects to have it commercially available by the end of 2018.
The current debate surrounding coal is generally one of how long it will continue to play a role in the world's energy mix before it is replaced by cleaner alternatives, but the coming years may see a deficit in seaborne markets for the polluting fuel.
The London-listed company sealed a 7-year commercial deal with Wilmar Group.
A Mi-8 helicopter operated by Russian coal company Arktikugol crashed on Thursday with eight people on board.
The miner wants to address the needs of European automakers.
Gold recovery from the leach pad at the operation has lagged internal expectations.
Among other geopolitical developments, the drop is attributable to investors getting calmer over the news that China's economic policy will see few changes in the near future.
"I think that the third-quarter results will confirm that the full-year EBITDA will be higher than last year," says KGHM CEO Radoslaw Domagalski-Labedzki
Kumba Iron Ore increased its full-year production target by 1-million tonnes.
Orders jump 10% at Swedish mining equipment maker during third quarter.
South Africa's Solidarity union cites low commodity prices and rising costs as two main factors behind the job cuts.