Europe Mining News

Tariffs removal not needed for E.U., U.S. talks -European Council representative

Contradictory opinions emerging at the G20 Summit.

Thieves jump on cobalt craze with $10m warehouse heist

The explosion in cobalt prices over the past two years has made the metal enticing for crooks, with each ton fetching $82,500.

Miners wrote off almost one-third of investments over last decade

From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

London Metal Exchange moves further towards launch of lithium contract

The London Metal Exchange has asked companies that assess prices of battery-grade lithium to submit proposals to supply a reference for the cash-settled contracts it plans to launch next year.

Greece shortlists Glencore and Vitol in Hellenic Petroleum majority stake sale

Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum

Wreck of Russian warship carrying $130bn in gold found off South Korea

The Dmitrii Donskoi is believed to have sunk in a naval battle 113 years ago, carrying the treasury of the entire flotilla, which would have included port expenses, as well as salaries of sailors and officers.

Anglo Asian's Azerbaijan gold output up 43% in first half of 2018

Anglo-Asian Mining gold production goes up by 43 percent in the first half of 2018.

Smelting constraints make zinc's price plunge look overdone

Expectations for a rise in zinc concentrate supplies in coming years have driven down the metal price to one-year lows, but smelting capacity constraints suggest the sell-off is premature.

Strong demand powers Sandvik Q2, but inventory concerns weigh on shares

Swedish Sandvik, which makes metal-cutting tools and mining gear, reported record-high quarterly earnings and orders on Tuesday on the back of a broad rise in demand, with its mining unit a particular stand-out

LME to launch monthly 'implied pricing' for base metals

Starting on July 30, the LME will start providing a set of synthetic monthly prices for the six main base metals —  copper, aluminum, zinc, lead, nickel and tin.

Nevsun passes on Lundin’s $1.4 billion fresh takeover bid

The base metals producer said that, while it has not yet received a formal offer from Lundin, the bid announced Monday the bid ignores the fundamental value of the company and its assets.

How mining tycoons are trying to foil a big UK bribery probe

The case will undoubtedly frustrate attempts to bring criminal charges against them and drag out proceedings for months, if not years.

Four miners killed in Georgia in coal mine accident, officials say

The government will close the mine until an investigation is complete and it gets the conclusions of international experts.

Germany to host Europe's first EV battery plant

BMW already signed up as the factory's main client.

Five top mining execs. convicted over Turkey’s worst mine disaster

The sentences range from 15 to 22 years in jail for high-ranked executives.

KME buys German copper product producer Mansfelder Kupfer

A final deal has been signed for the sale of German copper products company Mansfelder Kupfer und Messing (MKM) for 80 million euros ($94 million).

Gabriel Resources President and CEO Jonathan Henry leaves the company

Jonathan Henry has resigned from his position as President, CEO and as a Director of Gabriel to pursue other opportunities with immediate effect, the company said.

BP is front-runner to buy BHP's US shale unit

The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package.

Goldman says buy commodities as clock ticks toward trade war

Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the U.S. and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted.

Glencore announces $1 bn share buyback days after probe

Glencore Plc will buy back as much as $1 billion of its shares, a move that may soothe investor concerns after the world’s top commodity trader was hit by a U.S. Department of Justice probe earlier this week.

Automaker shares soar on U.S. proposal to eliminate tariffs

Shares in European carmakers are having their best trading day in two years after a U.S. official floated a proposal to eliminate vehicle-import tariffs on both sides of the Atlantic.

Thyssenkrupp CEO asks to step down, board to meet on Friday

After two years of at times fraught talks, the two steel firms last Saturday signed an agreement to create Europe's second-largest steelmaker.

Renault, PSA unveil plans for electric-car services in Paris

Renault SA and rival French automaker PSA Group unveiled plans for new electric car-sharing services in Paris just days after Mayor Anne Hidalgo pulled the plug on an operation backed by Bollore SA.

Rio Tinto says synergies, no Brexit behind decision to move sales team to Germany

London-based sales and marketing staff to relocate to Frankfurt beginning September.

VW to start electric car-sharing service to boost lineup

“Our target is to sell more than 1 million electric cars in 2025,” VW brand head of sales Juergen Stackmann