Europe Mining News

Mandalay Resources increases mineral resources and reserves at its Björkdal gold mine

Mandalay Resources Corporation is pleased to announce its exploration efforts in 2015 and the first three quarters of 2016 have resulted in substantially increased Mineral Resources and Mineral Reserves at its Björkdal open pit and underground gold mine in Sweden.

Zinc producer Nyrstar sells some mining assets to Glencore for $26m

The transactions are part of a broad mining assets sale process formally launched in January this year.

Nickel key to unveiling mystery of dinosaurs extinction

A nickel spike found in sediments above the spot where a giant asteroid hit the Earth some 66 million years ago, may help scientists trace segments of the celestial body that wiped out dinosaurs and 75% of all organisms on the planet.

De Beers latest diamond sales hit by India’s demonetization

The diamond producer by value sold $418 million of gems in its 10th cycle, compared with $476 million at its previous offering, which shows demand has slowed since India's withdrawal of high-value bills.

Atlas Copco to coordinate EU initiative for Sustainable Intelligent Mining Systems

Atlas Copco Rock Drills AB has been named coordinator of the European consortium on Sustainable Intelligent Mining Systems (SIMS). This mining industry initiative is funded by Horizon 2020, the biggest EU research and innovation program ever.

BSGR to file multi-billion lawsuit against Rio over Simandou

BSGR will sue Rio Tinto in the English High Court to recover losses allegedly caused by Rio's actions, which run to several billions of dollars.

Gold price forecast to soar 50 per cent up next year amid euro-zone uncertainties

Gold traders expect the price of gold to climb between 25 per cent to 50 per cent next year as a coming swarm of political uncertainties will lead investors to bet on the precious metal.

Centerra scraps dividends, gets Turkish project financing facility extended

Shares fell after the miner said it would suspend dividends until further notice, due to current restrictions to funds held at its Kyrgyz Republic subsidiary, Kumtor Gold.

Global oil and gas exploration likely to return to profitability in 2017

Dr Andrew Latham, vice president of exploration at Wood Mackenzie said: "The industry has a good chance of achieving double digit returns in 2017. Smarter portfolio choices and lower costs are already paying off."

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Russian-Canadian Vera Kirikova will become human resources group executive while Simone Niven will assume the corporate relations group executive post.

MMG’s Las Bambas copper mine forced to file new environmental plan

The move is part of the new government's strategy to rebuild trust on the project following deadly protests that halted exports from the mine in October.

Anglo American about to make key decision on South African assets sale

While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.

Nevsun off to the races after eye-popping Serbia assays

Drilling results from Vancouver-based company's super high-grade Timok copper-gold project lifts market value to within sight of US$1 billion.

Global rough diamond production about to reach its peak

Global rough diamond production will reach its peak in only three years before entering into a supply deficit by 2020, two separate reports show.

De Beers facing legal action over mercury monitoring at Victor mine

Suit claims company failed to report mercury levels at five of nine water monitoring stations near Victor mine.

Alrosa diamond sales picked up in November

The company's total diamond sales last month amounted to $255.2 million, 63% higher than in November last year.

De Beers invests $5 million to expand India’s diamond grading unit

Move takes the group’s total investment in the Indian city of Surat, which has the largest concentration of diamond skilled workers in the world, to $15 million.

Ellerby Energy & Resources (EENRES) Partners with Beth Allen, Ladies European Tour Number One, to Launch a New Energy and Resources Company in Dubai, the City of Gold

Ellerby Energy & Resources, LLC. (EENRES) is pleased to announce its sponsorship with Beth Allen, currently the No. 1-ranked golfer on the Ladies European Tour, for the upcoming OMEGA Dubai Ladies Masters.

Glencore becomes sole owner of Newlands, Collinsville coal mines in Australia

After buying ought out its two Japanese partners, Itochu Corp and Sumitomo Corp.

New Islamic banking rules make gold an accepted investment

Transactions must be fully backed by physical metal and settled on the same day to observe Islam's distinction between real economic activity and speculation.

Gold’s slim price recovery this year boosts supply fears

Situation has worsened as a result of a shortage of new discoveries, cost cutting measures and miners digging out higher-grade material for a short-term gain, say experts.

Gemfields postpones emerald auction over India's ‘demonetization’

The auction of emeralds from the miner's Kagem operation in Zambia will now be in February.

Glencore to resume dividend in 2017 as debt reduction on track

Soaring coal prices have helped Glencore, the world’s biggest provider of the thermal kind, straighten its balance sheet.

Scandinavian Biopower to invest in a biocoal plant in Mikkeli Finland – construction works to start late 2017

Scandinavian Biopower Oy, a 100% subsidiary of Dutch private equity investment company Momentum Capital, has made an investment decision to commission a biocoal plant in Mikkeli, Finland.

Canadian mining company in London targeted by protesters over EU-Canada trade deal

Last night activists obliterated the words ‘democracy’, ‘environment’ and ‘justice’ with gold spray paint outside the offices of a Canadian mining company, in a protest designed to draw attention to the corporate court system being proposed under the EU-Canada trade deal, CETA.