UK Mining News

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.

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.

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.

Glencore shareholders mull suing firm over corruption, bribery probes

They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

US probe darkens Glencore horizons from Africa to Americas

Investigation is casting a wider net with the addition of Venezuela and Nigeria to its investigation, increasing the likelihood that Glencore’s management will get bogged down in a lengthy legal process.

Glencore hammered as US requests documents in corruption probe

Shares fell as much as 13% after the miner and commodities trader was told by US Department of Justice to produce documents on Nigeria, Congo and Venezuela.

Galantas Gold jumps after hitting main vein at Irish mine expansion

It means the company can now begin limited production, with increased feed to the mill expected in a couple of months.

Sirius Minerals soars after securing supply deal for Nigerian market

Shares in Sirius Minerals (LON:SXX) were off to the races on Wednesday after it announced it had secured a major seven-year African supply deal.

Glencore's great game is avoiding US sanctions: Chris Bryant

Glencore says its subsidiaries will pay Gertler what he’s owed, only the funds will be transferred in euros and U.S. citizens won’t be involved.

Glencore settles legal row with former partner over Congo royalties

The Swiss firm will make mining royalty payments to Dan Gertler in euros so that it doesn’t fall foul of US sanctions, which were placed on the Israeli billionaire last year.

Glencore faces third Congo legal challenge this year

Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly sold in two fraudulent transactions, in 2007 and 2012.

RBS to stop financing new coal plants, oil sands or arctic oil projects

Britain’s Royal Bank of Scotland said it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies.

Petropavlovsk asks UK regulators to investigate activist shareholders

The London-listed firm is near the end of a quest to bring on technology to boost profits from the treatment of refractory gold ore.

Meghan Markle makes gold sales sparkle

The Meghan Markle effect has spread to yellow gold jewelry, helping boost United States sales in the first quarter of 2018 with further gains expected.

Glencore drops as British regulators looming probe adds to Congo issues

Britain’s Serious Fraud Office plans to open a formal bribery investigation into Glencore and its deals with Israeli billionaire and former partner Dan Gertler.

Canadian explorer looking to restart Europe's last tin mine to list in London

Vancouver-based Strongbow Exploration expects the London listing to help it raise 25 million pounds ($34 million) over the next 18 months, which will use to study the feasibility of resuming production at the South Crofty tin mine in Cornwall.

HSBC pulls the plug on coal

Europe’s largest bank won’t fund new coal power plants, oil sands and arctic drilling, except in Bangladesh, Indonesia and Vietnam.

UK goes a record 55 hours without coal as clean power expands

Coal, which fueled the world’s biggest economies for more than a century, is increasingly losing out to renewables.

Strike halts gold output at two Randgold mines in Mali — union

The strike at the company’s Loulo and Gounkoto mines is related to the payment of bonuses and will continue until the issue is resolved.

Randgold Resources Tongon mine in Ivory Coast hit by strike

Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.

Britain blocks plans for new coal mine on climate grounds

Britain plans to phase-out coal use at its power stations by 2025 as a part of its efforts to meet its climate targets.

Sirius seeks $2bn in government-backed debt for Britain’s biggest fertilizer mine

Securing the debt will be the final milestone to bring the York project into production.

Lloyd's of London to divest from coal over climate change

Lloyd’s of London, the world’s oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies.

Renewables generated triple the power of coal in 2017, UK figures show

British wind farms generated more electricity than coal plants on more than 75% of days this year.

London Metal Exchange Week galvanised by electric dreams: Andy Home

This year, copper was shoved out of the London limelight by new hot metals such as lithium, cobalt and nickel.