Europe Mining News

European automakers BMW, Volvo to trial new LME steel contracts

Industry sources say automaker interest bodes well for the contracts, but new contracts usually take years to gain traction and a lack of interest from steelmakers could slow the process.

Iraq's Kurds add capacity to oil pipeline to export Kirkuk crude

The link’s capacity increased to 1 million barrels a day from 900,000.

Russian steelmaker MMK cautious after strong quarter, delays Turkey project

While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.

Almost a quarter of Antofagasta’s energy needs met by renewables

The Zaldívar copper mine in Chile, a joint venture between Antofagasta and Barrick, will be able to replace greenhouse gas emissions equivalent to 350,000 tonnes per year, or about 87,000 vehicles annually.

ArcelorMittal remains upbeat as US steel tariffs drive up prices

Arcelor reported a 42 percent year-on-year increase in third-quarter core profit (EBITDA) to $2.73 billion, roughly in-line with analyst expectations.

Gold project in French Guiana moving forward

After 14 public hearings, the Montagne d'Or project is taking some steps forward.

Mongolia looks to list Tavan Tolgoi in NY, Hong Kong in 2019

The government is keen to develop the mine which holds an estimated 7.4 billion tonnes in reserves.

Russia's Nornickel boosts Q3 output at its copper project

Nornickels consolidated copper output has risen by 20% to 290,878 tonnes in the first nine months of 2018.

Mining company Outotec cuts full-year target citing project problems

Outotec now expects its adjusted 2018 EBIT margin to be in the range of 5-6% against the previous target of 5-7%.

Gem Diamonds revises up full-year output target as recoveries on the rise

So far in 2018, Gem has found thirteen diamonds over 100 carats, two of which were found in the third quarter.

Alrosa kicks off mining at new diamond field in Siberia

President Vladimir Putin, who attended the opening ceremony, said the new operation reinforced the state-controlled firm's position as a diamond world leader.

ICMM introduces innovation roadmap for cleaner mining vehicles

Following two innovation summits between ICMM members and suppliers, a governance model for collaboration has been designed.

Falling zinc price hammers Trafigura-backed Nyrstar in Q3

Nyrstar's CFO Michel Abaza said that no decision had yet been taken on how to tackle the company's debt levels but that the board would come back with a decision in the coming months.

Belgium's Nyrstar Q3 core profit plunges 74%

The plunge is a result of lower zinc treatment charges, rising energy prices and higher operating charges.

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

The gold miner has given up on Kumtor and decided to focus its efforts on completing a deal for Armenia-based Kapan Mining instead

World’s two top diamond miners join forces to test blockchain pilot

Alrosa has joined rival De Beers' Tracr industry blockchain traceability platform, aimed at clearing the supply chain of imposters and conflict diamonds.

Spain to close most coal mines by end of 2018

Government and unions reached a deal that will see €250 million invested in mining regions over the next ten years,

Trafigura-backed Finnish miner Terrafame to build EV battery plant

"Our goal is to complete the plant by the end of 2020, with commercial production commencing at the start of 2021," Joni Lukkaroinen, CEO of Terrafame

Mining tech firm Outotec warns on project problems, shares plunge

Malfunctioning furnaces tank Outotec's shares.

Glencore posts rise in copper, cobalt output on Katanga restart

Glencore's copper production rose to 1,063,100 tonnes from the start of this year and cobalt output jumped 8,700 tonnes to 28,500 tonnes.

Eldorado to invest $520 million in mill at its Turkish mine

The project would make Kışladağ a nine-year, 270,000-ounce-per-annum gold mine.

Zinc market tightness confounds bearish expectations

"Screamingly bullish" is how analysts at Citi described the Shanghai Zinc market earlier this month.

Antofagasta cuts copper output guidance, sees increase in 2019

Company now expects to produce between 705,000-725,000 tonnes this year, down from the earlier 705-740,000 tonnes target.

Fresnillo falls as it cuts full-year silver output guidance again

The miner, which is the world's largest primary silver producer and Mexico's second largest gold company, revised silver output guidance down to between 62 million ounces and 64.5 million ounces from a range of 64.5 million to 67.5 million earlier.

Kenya wins case against Cortec Mining on rare earths, niobium licence

Tribunal orders the companies to pay costs of around $3.5 million to the government.