Sweden Mining News

More than 200 workers to go at Sandvik Materials Technology unit

Measure is part of a broader plan to restore profitability at the division, which saw adjusted operating profit fell by 37% in the second quarter of this year.

World’s top 10 silver mines

Only six of the top 20 producers are primary silver miners. The polymetallic ore deposits from which silver are recovered account for more than two-thirds of the world's silver resources.

Atlas Copco bets big on automation, grabs stake in software maker

The Swedish mining equipment maker is acquiring a 34% stake in Mobilaris MCE, which provides software to optimize underground operations.

Swedish miner begins massive relocation of whole city

While some residents of Kiruna have moved already, the first of the town’s historic buildings has just been hoisted up on a truck and transported to its new location.

Sandvik starts the year with better-than-expected profit

Miners have begun spending in equipment again, the Swedish firm's results show.

Atlas Copco to split in two, appoints new CEO

The Swedish company plans to list its mining tools division by 2018 in the biggest-ever shakeup of the group, which could spark takeover interest.

Sandvik signs agreement to divest its Mining Systems operations

Sandvik has signed an agreement to divest its Mining Systems operations, reported in the Sandvik income statement as discontinued operations, to the private equity company CoBe Capital.

Sandvik reinvents top hammer drill bit design

Solving a problem a customer experienced when drilling in abrasive rock conditions has led to a groundbreaking new design for drill bits.

Greenpeace to keep coal in the ground by buying some of Europe’s largest mines

The environmental group is after Vattenfall's lignite business in eastern Germany, in a bid to scale back the operations put up for sale by the Swedish state-owned energy giant.

Sandvik unveils new mid-range mining crushers

Part of the firm's CH800 series of mining cone crushers, the two models aim to help improve productivity and profitability in the mid-range segment.

Swedish iron ore miner Northland Resources goes bankrupt

Affected by anemic iron ore prices, the Swedish firm joins an increasing number of miners that have fallen by the wayside.

Sandvik relocates global equipment unit to India and China

The firm is closing several facilities in the U.S. and Europe, as part of a two-year business reorganization set to conclude in the next fiscal.

Five banks fined over $3bn in foreign exchange probe

These are the first cases to come out of a global probe into allegations of widespread rate-rigging in foreign exchange markets.

Swiss UBS faces fine over alleged precious metals trading wrongdoing

The bank, which is the world’s largest private lender, is also expected to announce an agreement regarding alleged collusion and manipulation in the foreign exchange market.

Rare earth, other mining projects pile up in northern Europe

Vast stretches of northern Europe’s wilderness will soon host more mining companies going ahead with several projects in the area.

Greenland embraces mining rush, but won’t ‘favour one country alone’ — Prime Minister

Arctic region's vast riches set to attract over $100 billion in investments over the next decade.

Alberta most attractive mining destination in Canada, third worldwide

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.

Suppliers Metso, Sandvik still hurting from slowdown

Metso's Q3 mining and construction orders fell 19%. Sandvik's net profit fell 22%.

Huge cluster of jellyfish shuts down nuclear reactor in Sweden

Operator said Tuesday it is ready to restart nuclear plant.

Swedish funds sell out stakes on Potash Corp., Incitec Pivot over ‘ethical’ concerns

For buying phosphate from sources they qualified as off-limits.

Chileans sue Swedish mining firm for $13.9 million

A group of 707 Chileans is seeking compensation for health problems allegedly caused by Boliden's toxic waste dumped near their homes in the eighties.

Mining forces entire Swedish city to move 3 km

To avoid collapse caused by iron ore mining activities.

Sweden bulldozes town to reach more iron ore

About 35% of the town will move, including 65% of the apartments, over the course of several years.

Fraser Institute ranks Finland and Sweden top mining destinations

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.

Northland Resources undergoing reconstruction, delisting from TSX

Projects in northern Sweden and Finland.