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Europe News

Polyus sees 2018 production at upper end of guided range

By: Reuters     Updated 5 hours ago Polyus, Russia's largest gold producer, said on Thursday its 2018 production was likely to be at the upper end of the forecast range of 2.375-million to 2.425-million troy ounces. Speaking on the sidelines of the St Petersburg economic forum, Polyus CEO Pavel Grachev also said the company's... 

IronRidge appoints new chairperson

By: Anine Kilian     Updated 6 hours ago Neil Herbert has been appointed nonexecutive chairperson of Aim-listed IronRidge Resources with immediate effect. He succeeds Nick Mather, who will remain on the board as a nonexecutive director. 

Signet joins De Beers' Tracr blockchain platform pilot

By: Anine Kilian     Updated 6 hours ago Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from diamond production through to retail. 

Katoro reaffirms mining potential at Imweru

By: Anine Kilian     Updated 6 hours ago Aim-listed Katoro Gold on Thursday confirmed that there was good upside potential for the further development of its Imweru gold project, in Tanzania. The company assessed the economic viability of the project, based on the results of a prefeasibility study and the new mining legislation and... 

Pan African completes commissioning of Barberton regrind mill, Elikhulu to pour first gold in August

By: Simone Liedtke     Updated 6 hours ago The commissioning of Pan African Resources’ Barberton Mines Tailings Retreatment Plant (BTRP) regrind mill will be completed this week, on schedule and on budget. The gold producer on Thursday said BTRP is expected to reach an annualised gold production of 21 000 oz in the next month. 

Petra’s shares fall on $178m proposed rights issue

By: Simone Liedtke     Updated 7 hours ago Petra Diamonds’ share price on the LSE fell by more than 20% on Thursday after it announced plans to raise $178-milion, or about £133-million, through a fully underwritten 5 for 8 rights issue. The diamond miner, which has operations in South Africa and Tanzania, said its cash flow generation... 

Petra’s shares fall on $178m proposed rights issue
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Jet engines help power cobalt to 10-year highs

By: Reuters     Updated 7 hours ago The spotlight in the cobalt market has been fixed on electric vehicles but shrinking supply and robust demand from traditional sectors such as jet engine makers are helping fuel a price rally that shows no signs of fading. Cobalt in recent years has become synonymous with electric vehicles as it... 

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     24th May 2018 Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Anglo Asian copper, gold, silver miner moots maiden dividend

By: Reuters     24th May 2018 Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash. A dividend would set Anglo Asian apart from many London-listed junior miners, which... 

Copper miner Atalaya's Q1 profit jumps 54%

By: Mariaan Webb     24th May 2018 Copper miner Atalaya Mining has posted a 54% increase in its first-quarter profit, on the back of stronger copper prices and an increase in concentrate volumes sold. After-tax profit increased from €5.7-million, or 4.8c a share, in the first quarter of 2017, to €8.8-million, 6.5c a share, in... 

Copper miner Atalaya's Q1 profit jumps 54%
Proyecto Riotinto

EU starts new investigation into steel imports from China

By: Reuters     24th May 2018 The European Commission has opened an investigation into hot-rolled steel sheet piles imported from China to determine whether they are being dumped in Europe, according to a notice in the EU Official Journal on Thursday. The investigation into a form of steel used in construction was launched... 

Rusal warns on ability to operate from October as CEO quits

By: Bloomberg     24th May 2018 United Co Rusal’s CEO resigned after less than three months in the role, as the Russian firm warned that trade partners and international lenders could cut ties with the company if US sanctions aren’t lifted after October 23. The world’s biggest aluminum producer outside China also said the... 

Rusal warns on ability to operate from October as CEO quits

Global copper surplus falls 12.8% to 110 000 t

By: Henry Lazenby     24th May 2018 The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found. The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

By: Henry Lazenby     24th May 2018 Absent any significant global economic disturbances disrupting consumer diamond demand, incremental year-on-year diamond production declines are forecast to drive real diamond prices up by about 10% cumulatively from 2018 through 2021, or 17% in nominal terms, a new report by independent analyst... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

Copper shortfall expected – Antofagasta CEO

By: Henry Lazenby     24th May 2018 London-based base metals company Antofagasta said on Wednesday it expects a shortfall of copper to emerge because of the slow rate at which new mines are permitted and built. Antofagasta chairperson Jean-Paul Luksic said at the company's annual general meeting that the emergence of new sources of... 

Euro Sun says Rovina Valley mining licence working its way through Romania govt

By: Henry Lazenby     24th May 2018 TSX-listed project developer Euro Sun Mining reported on Wednesday that the mining licence for its flagship Rovina Valley copper/gold project, in Romania, is working its way through government, with the National Agency for Mineral Resources and the Secretary General of Government (SGG) having... 

Cobalt streaming may presage bigger deals as Vale weighs options

By: Bloomberg     23rd May 2018 A streaming deal for cobalt and nickel from a mine in Papua New Guinea may foreshadow other similar arrangements as producers look to capitalise on the battery-commodity boom to raise cash for investments. On Tuesday, Cobalt 27 Capital – a Toronto-listed vehicle designed to invest in the metal –... 

Petropavlovsk mulling over options to avoid IRC missing ICBC payment

By: Creamer Media Reporter      23rd May 2018 Gold miner Petropavlovsk and Hong Kong-based IRC, in which it is a large shareholder, are continuing negotiations with the Industrial and Commercial Bank of China (ICBC) to amend the repayment schedule of a $340-million project finance facility. Petropavlovsk is the guarantor of the project... 

Eurasia’s West Kytlim fully operational

By: Creamer Media Reporter      23rd May 2018 The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, is fully operational and is producing an average of 1.8 kg a day of raw platinum, Aim-listed Eurasia Mining reported on Wednesday. In the first two weeks of production, the mine produced 11.8 kg at a suggested average grade... 

Nordgold reports lower Q1 production, Gross mine construction on track

By: Marleny Arnoldi     23rd May 2018 Aim-listed gold miner Nordgold produced 225 100 gold-equivalent ounces in the first quarter of this year – a 6% year-on-year and 10% quarter-on-quarter decrease.  

Nordgold reports lower Q1 production, Gross mine construction on track
Norgold operates mines in Russia, Kazakhstan and Africa. Pictured here is the Neryungri mine, in Russia.

Armadale advances Tanzania graphite project

By: Marleny Arnoldi     23rd May 2018 Aim-listed investment company Armadale Capital has rapidly advanced the high-grade Mahenge Liandu graphite project, in Tanzania, during 2017, ahead of an anticipated decision to mine in early 2019.  

AfriTin seeks to raise £5.5m in share placement

By: Marleny Arnoldi     23rd May 2018 Aim-listed tin development company AfriTin Mining hopes to raise £5.5-million in an accelerated bookbuild to fast-track the work programme at its flagship Uis mine, in Namibia.  

AfriTin seeks to raise £5.5m in share placement
Photo by Creamer Media
Terence Goodlace, who has been appointed a nonexecutive director of AfriTin

Forevermark appeals to Millennials with new flagship store in China

By: Marleny Arnoldi     23rd May 2018 De Beers Groups’ Forevermark brand has launched Libert’aime by Forevermark – a new flagship store in Shanghai, China.  

Forevermark appeals to Millennials with new flagship store in China

Vedanta working with regulators to restart Indian copper smelter

By: Reuters     23rd May 2018 British mining and energy group Vedanta Resources is working with regulators to expedite restarting its copper smelter in the southern Indian state of Tamil Nadu, it said on Wednesday, a day after protests turned violent at the plant. The company also posted a 27% rise in full-year core profit... 

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Gamsberg producing by mid-year – Vedanta
Photo by Dylan Slater
Vedanta chairperson Anil Agarwal

Aura defines new vanadium zone at Sweden project

By: Mariaan Webb     23rd May 2018 Dual-listed Aura Energy has identified a new high-grade vanadium zone at its Häggån project in Sweden, resulting in an overall mineral resource estimate increase. Resource modelling defined an inferred resource of 15.1-billion pounds at 0.26% of vanadium pentoxide (V2O5), at a cut-off of 0.1%.... 

Australia-EU FTA an opportunity to remove tariffs on resources trade

By: Esmarie Swanepoel     23rd May 2018 The Australian resources sector has welcomed the start of free trade agreement (FTA) negotiations between Australia and the European Union (EU), with the Minerals Council of Australia (MCA) saying it would present a significant opportunity to boost trade, investment and economic engagement... 

Peak gets permission for Teesside plant

By: Esmarie Swanepoel     23rd May 2018 Rare earths developer Peak Resources has been granted planning permission for the Teesside refinery, in the UK by the Redcar and Cleveland Borough Council. The planning permission is the approval required for the construction of the planned rare earth separation plant, with the environmental... 

Kazatomprom delivers uranium to Brazil

By: Creamer Media Reporter      23rd May 2018 The National Atomic Company of Kazakhstan (Kazatomprom) has expanded the sales geography in the world nuclear fuel market, with a contract to sell uranium to Brazil. Kazatomprom said on Wednesday that it had won the bid for the supply of natural uranium concentrates to State-owned nuclear fuel... 

Kazatomprom delivers uranium to Brazil

Japan, Russia, Turkey bring potential US tariff retaliation to $3.5bn

By: Reuters     22nd May 2018 Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said on Tuesday, bringing the total US tariff bill to around $3.5-billion annually. The three countries detailed their compensation claims in... 

Lemur concludes concession agreement for Imaloto power project

By: Simone Liedtke     22nd May 2018 Aim-listed Bushveld Minerals’ coal and energy subsidiary Lemur Holdings has executed a 30-year concession agreement with the Madagascar government for the development, construction, operation and maintenance of the Imaloto integrated thermal coal and power project. The concession comes on the... 

Lemur concludes concession agreement for Imaloto power project
Lemur Holdings CEO Prince Nyati

Greece aims to resolve Eldorado standoff over metallurgy plant soon

By: Reuters     22nd May 2018 Greece aims to resolve a long-standing standoff with Canada's Eldorado Gold over its development plans in the coming weeks, the Energy Ministry said on Tuesday. The differences between Eldorado and the government over the miner's plans to produce gold and other metals in the northern Greek... 

Greece aims to resolve Eldorado standoff over metallurgy plant soon
The Olympias project, in Greece

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Alrosa reopens office in world’s largest diamond jewellery market

Tertiary continues project acquisition negotiations

By: Creamer Media Reporter      22nd May 2018 Fluorspar junior Tertiary Minerals is continuing negotiations to potentially acquire a project, which has the potential to generate revenue in the near term. Early stage due diligence and negotiations were progressing, Tertiary said on Tuesday in its operational report for the six months to... 

Ferrum Crescent completes fundraising to advance Spain project

By: Creamer Media Reporter      22nd May 2018 Exploration company Ferrum Crescent, which will soon be known as Europa Metals, has completed a fundraising to progress resource delineation and to commission an initial scoping study at its lead/zinc project, in Spain. The company on Tuesday issued new shares and options to raise about... 

Bluejay targets 100Mt resource at Greenland prospect

By: Creamer Media Reporter      22nd May 2018 Aim-listed Bluejay is gearing up for an exploration programme to get under way at the Iterlak discovery, which forms part of its Dundas ilmenite project, in Greenland. Bluejay has set itself a target of delivering a maiden resource at Iterlak of more than 100-million tonnes of material at an... 

Bluejay targets 100Mt resource at Greenland prospect

Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi

By: Esmarie Swanepoel     22nd May 2018 Mining major Rio Tinto has called for less interference at the Oyu Tolgoi copper and gold mine, in Mongolia, as it advances underground development. Rio’s copper and diamonds CEO Arnaud Soirat told delegates at the Mongolian Economic Forum that the Oyu Tolgoi development would be used as a... 

Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi

Glencore goes from crisis to crisis with possible bribery probe

By: Bloomberg     21st May 2018 It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo. The world’s biggest commodity trader is facing the possibility of a bribery investigation by British prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of... 

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