A large but troubled nickel mine in Finland may be back on the road to profitability thanks to a recent deal that saw commodities trader Trafigura take a 15.5 percent stake.
FINLAND Mining News
Finland's government decided Friday to grant new public funding for its troubled Talvivaara mine, cancelling a previous plan to permanently close what was once the European Union's biggest nickel mine.
The Finland-base supplier posted a lower-than-expected quarterly profit and new orders, as miners are not spending much on grinding mills and crushers.
Metso shapes the industry by introducing easier ways of buying, maintaining and operating aggregates equipment
Metso continues to meet its customers' needs and to shape the industry conventions by expanding its services offering for the aggregates industry with unique Life Cycle Services programs.
A Russian sales manager for Metso's automation division is said to have skimmed money off invoices and cycled the funds through several bank accounts and firms until they ended up in Panama.
Gécamines renews their confidence in Metso's complete plant design and installation for their aggregate production near Dakar, Senegal.
Swedish mining and smelting company Boliden AB will pay cash for Kevitsa mine.
The cuts follow a number of reductions announced for the U.S. and Canada last year.
Criminal investigation of a Finnish conservation group requested by Vancouver-based Mawson Resources
The Vancouver-based miner claims the Finnish Association for Nature Conservation’s (FANC) Lapland chapter is willfully misleading the courts in its appeal of an exploration permit decision — a criminal act under Finnish law.
The closure, part of a major business restructuring, will affect about 80 people currently employed at the plant.
Metso and its peers in a Nordic cluster of mining gear suppliers, including Atlas Corp., Sandvik and FLSmidth have been squeezed by spending cuts among miners in the last three years.
The potash and oil-rich province was placed at the top of the Fraser Institute's annual rank of mining companies.
Affected by anemic iron ore prices, the Swedish firm joins an increasing number of miners that have fallen by the wayside.
Vast stretches of northern Europe’s wilderness will soon host more mining companies going ahead with several projects in the area.
The Finnish firm rejected a sweetened multibillion-dollar bid on the grounds that it was "significantly" undervalued and appeared "opportunistic."
The combined equipment manufacturer would be listed on both the London and Helsinki Stock Exchanges.
Arctic region's vast riches set to attract over $100 billion in investments over the next decade.
Other two Canadian jurisdictions —New Brunswick and Newfoundland and Labrador— also made it to the top 10 worldwide. Kyrgyzstan and Venezuela, named the two countries mining enthusiasts should stay away from.
Metso's Q3 mining and construction orders fell 19%. Sandvik's net profit fell 22%.
Meanwhile try avoiding Indonesia, Vietnam, Venezuela, Democratic Republic of Congo (DRC), Kyrgyzstan, Zimbabwe, Bolivia, Guatemala, Philippines, and Greece, says Canada's leading public policy think-tank.
Projects in northern Sweden and Finland.
Highlights: Production of 535.9 tonnes of nickel in concentrate, revenues of CDN$ 8.49 million (Q2 2012: CDN$ 11.38 million).
Finland could become the first European country to end usage of coal in energy production.
Australia's Dragon Mining announced the discovery of a promising new area of gold deposits in Kuusamo, Finland, only hours after the country was announced as the top destination for mining and oil investment by a trade magazine.
Despite a drop in net income, from $68.9 million last Q2 to this year's $43.4, the miner saw an increase in revenue, gold production and, as a result, a pleasant 8.5% rise in stock price.