Europe Mining News

Glencore faces third Congo legal challenge this year

Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly sold in two fraudulent transactions, in 2007 and 2012.

Russia's Polyus big step closer to building world's largest new gold mine

Moscow company's update on Sukhoi Log project envisages annual production of 1.6 million ounces for 35 years at less than $500 per ounce.

Scotiabank to scrap half its metals business- sources

ScotiaMocatta is curtailing lending to the physical metals supply chain and would refocus on major corporate clients.

Rio Tinto signs JV exploration deal with China’s Minmetals

The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .

ALROSA enters the Top-5 of sustainability rating «Polar Index»

"Polar Index" became the first specialized rating of companies whose geography of activities affects the Arctic zone of Russia. The results of the first rating were presented in the Public Chamber of the Russian Federation on World Environment Day held on June 5.

Congo mining regulations to be signed into law on Friday — mines minister

Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.

Gold price: Investors are pouring $1 billion per month into ETFs

Net inflows into gold-backed exchange traded funds rose again in May, lifting value of private bullion to $103 billion, highest since 2013.

Results of Gabriel's lawsuit against Romania may be known late 2019

Company is seeking $4.4 billion in compensation for alleged losses related to its Rosia Montana gold and silver project, which Bucharest halted following relentless protests.

Angola eases controls over diamond sector, to double output in four years

President Joao Lourenço said changes aim at attracting more investment, increasing production and securing higher government revenue.

US lawmakers set bill seeking to control Trump on tariffs – key lawmaker

Some Republican lawmakers warn that Trump could trigger a trade war that would destabilize the economy and ultimately hurt American workers.

German battery maker Akasol plans Frankfurt listing in June

The company is planning to sell new shares worth about 100-125 million euros ($117-$147 mln) in a deal valuing it at about 400-500 million euros.

About 75,000 jobs to go in Germany’s auto industry because of EVs — study

The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.

US aluminium tariffs; collateral damage and a missed target: Andy Home

Aluminium in particular shows why tariffs are such a poor trade weapon.

Trump tell allies to fix trade after US tariffs strike

Trump's tariffs on Washington's closest allies also drew condemnation at home from Republican lawmakers and the country's main business lobbying group.

FLUID OUNCES: Gold vs beer price since 1950

99 bottles of beer on the wall...

US allies hit back at Washington's steel, aluminum tariffs

The US on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the EU, reigniting fears of a global trade war.

Kyrgyz Republic former PM who signed deal with Centerra charged with corruption

It’s rumoured that Sapar Isakov's charges may put a pact ending long-dragged disputes between the Asian country and the Canadian miner in jeopardy.

Emeralds and rubies producer Fura Gems changes look

The company, which began operations a year ago, said the move seeks to strengthen its communication with key stake holders and consumers.

Electric vehicles on the road to triple by 2020 — IEA

The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.

Russian gold miner Polyus posts 51 pct drop in Q1 net profit

Polyus gold, Russia's largest producer of the metal, reported first-quarter net profit down 51 percent at $244 million, hit by reduced foreign exchange gains and other non-cash items.

Mountain Province finds 95-carat diamond in Canada’s far north

The white octahedron of "top clarity" is the largest gem quality diamond and fourth largest stone ever recovered at the company's Gahcho Kué mine, located in Canada’s Northwest Territories.

RBS to stop financing new coal plants, oil sands or arctic oil projects

Britain’s Royal Bank of Scotland said it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies.

Petropavlovsk asks UK regulators to investigate activist shareholders

The London-listed firm is near the end of a quest to bring on technology to boost profits from the treatment of refractory gold ore.

World’s largest diamond miner De Beers to sell synthetic stones

After vowing for over a century it would never sell stones made in laboratories, De Beers will start doing so in September.

Hedge funds have never been this bearish on platinum price

Large scale speculators in platinum futures go shortest ever as Europe industrial policy chief says "diesel cars are finished".