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Europe News

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     Updated 2 hours 49 minutes ago Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Fosun mulls takeover of $1bn Russian miner GV Gold

By: Bloomberg     Updated 3 hours ago A consortium led by Fosun International is in talks to acquire a majority stake in GV Gold, a Russian gold miner backed by BlackRock, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry for a joint offer, the people said,... 

Bavaria seeks fast-track German coal exit in snub to Merkel plan

By: Bloomberg     Updated 4 hours ago Bavaria, Germany’s industrial powerhouse, wants the nation to stop burning coal by 2030, eight years before Chancellor Angela Merkel’s deadline. Germany’s plan to exit the fossil fuel is unrealistic and won’t work unless a more aggressive target is set, Bavaria’s Prime Minister Markus Soeder... 

Bavaria seeks fast-track German coal exit in snub to Merkel plan

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal 

By: Simone Liedtke     Updated 7 hours ago LSE-listed Acacia Mining says it “strongly disagrees” with a number of matters set out in a recent announcement by parent company Barrick Gold, adding that the announcement “appears to have ignored the value of [Acacia’s] portfolio of exploration and development assets, and the strategic value of... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Eramet needs €1bn Gabon expansion, Argentina lithium mine

By: Mariaan Webb     Updated 7 hours ago French multinational mining and metals firm Eramet is searching for more than €1-billion in financing to fund an expansion of its manganese mine in Gabon, and to build a new lithium mine in Argentina. The company plans to raise its manganese ore production capacity from 4.3-million tons a year... 

Galileo increases stake in Star Zinc project

By: Simone Liedtke     Updated 7 hours ago Aim-listed Galileo Resources has acquired the remaining Kabwe residual rights, including the Kashitu zinc willemite exploration prospect, as well as exercised its right to acquire a further 15% interest in Enviro Zambia from BMR Group for 9.6-million Galileo shares. Enviro Zambia owns 95% of... 

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

RWE reviews mine protest damage, says power plants not at risk

By: Bloomberg     23rd June 2019 erman utility RWE AG is reviewing damage done by environmental campaigners who accessed the company’s Garzweiler openpit mine in Germany’s Rhineland on Saturday. There were five arson attacks on pump stations and electricity transformers amid the protests, company spokeswoman Stephanie Schunck... 

Kefi starts fieldwork at Saudi Arabia project

By: Simone Liedtke     21st June 2019 Aim-listed Kefi Minerals on Friday reported that fieldwork had started at its Hawiah exploration licence, in Saudi Arabia. The fieldwork began with a modest cost but a potentially high-impact induced polarisation and resistivity geophysical survey aimed at better defining the large volcanogenic... 

SolGold jumps in London as Ecuador referendum is rejected

By: Mariaan Webb     21st June 2019 Copper/gold developer Solgold traded 22% higher on the London Stock Exchange on Friday, following news that the Constitutional Court in Ecuador had dismissed a petition for a mining referendum that would have affected its Cascabel project. It is understood that the court rejected the petition on... 

SolGold jumps in London as Ecuador referendum is rejected

Bushveld reports 1.58% vanadium grade for Brits project

By: Marleny Arnoldi     21st June 2019 Aim-listed Bushveld Minerals on Friday announced the maiden mineral resource estimate for its Brits vanadium project, in South Africa’s North West province. Bushveld reported a 66.8-million-tonne aggregate inferred and indicated mineral resource across three seams at the project, grading at an... 

Premier secures $350 000 loan

By: Marleny Arnoldi     21st June 2019 Aim-listed Premier African Minerals on Friday announced it has entered into a $350 000 loan and subscription agreement with Regent Mercantile Holdings. Should Premier fail to repay the loan in two equal payments on August 1 and September 1, Regent may convert any percentage of repayment into... 

Court dismisses Ecuador mining referendum petition

By: Mariaan Webb     20th June 2019 The share prices of SolGold and Cornerstone Capital Resources rose sharply in Canada on Thursday afternoon, following an announcement that the Ecuador mining referendum petition had been dismissed. TSX-V-listed Cornerstone, which is a partner in the significant Cascabel copper/gold project with... 

Court dismisses Ecuador mining referendum petition

Savannah now has full ownership of Portugal lithium project

By: Mariaan Webb     20th June 2019 Aim-listed Savannah Resources has full ownership of the Mina do Barroso project, following the $11.9-million buyout of minority shareholders in the Portugal lithium project. The remaining 25% interest was acquired from minority shareholders, including resource investment specialist Slipstream... 

Savannah now has full ownership of Portugal lithium project

Petropavlovsk reports strong interest in bond offering

By: Creamer Media Reporter      20th June 2019 Russian gold mining company Petropavlovsk on Thursday announced a new $125-million convertible bond to refinance an existing short-term $100-million bond with a coupon of 9%, using a long-dated instrument at a lower cost. CEO Pavel Maslovskiy said in a statement that the new bond offering had... 

Minergy appoints CEO-designate 

By: Martin Creamer     20th June 2019 The Botswana Stock Exchange-listed Minergy on Thursday announced that its CFO Morne du Plessis had been appointed CEO-designate and would take over the reins of the coal mining and coal trading company on August 1. This follows last month’s announcement that current Minergy CEO Andre Bojé, 63,... 

Minergy appoints CEO-designate
Minergy CEO-designate Morne du Plessis

Responsible sourcing of gemstones to receive more attention – Gemfields

By: Tasneem Bulbulia     20th June 2019 Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Gemfields and Kagem Mining CEO Sean Gilbertson. The observation comes as Gemfields recently contributed new data and insights to independent global... 

Resolute Mining determined to grow as adds London listing

By: Reuters     20th June 2019 Australian-listed gold miner Resolute Mining lists on the London Stock Exchange on Thursday to broaden its investor base and pursue its ambition to be a high-tech, pan-African gold producer, partly through acquisitions. New listings have been scant in London, where uncertainty over Britain's... 

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

African Battery Metals increases shareholding in Katoro Gold

By: Simone Liedtke     20th June 2019 Aim-listed African Battery Metals (ABM) has confirmed the completion of its investment and option agreement with fellow Aim-listed Katoro Gold. ABM in May exercised an option to acquire shares and warrants in Katoro and a direct project holding in the Haneti nickel project in Tanzania. 

Pro Civil to buy Gem’s Ghaghoo mine 

By: Simone Liedtke     20th June 2019 LSE-listed Gem Diamonds has entered into a binding agreement with Pro Civil for the sale of 100% of the share capital of Gem Diamonds Botswana (GDB), which holds the Ghaghoo diamond mine, which has been on care and maintenance since March 2017. Under the share sale agreement, Pro Civil will make... 

Pro Civil to buy Gem’s Ghaghoo mine
Gem Diamonds CEO Clifford Elphick

Rio Tinto cuts 2019 iron-ore guidance

By: Simone Liedtke     19th June 2019 Mining major Rio Tinto on Wednesday said that it was experiencing operational challenges at its iron-ore mines, particularly in the Greater Brockman hub in the Pilbara, resulting in another revision of its guidance for the year. The miner lowered its Pilbara shipment guidance to between... 

Nordgold to acquire Guyana gold project

By: Simone Liedtke     19th June 2019 Diversified gold miner Nordgold has entered into an option agreement with ASX-listed Alicanto Minerals for the exclusive right to acquire a 100% interest in the Arakaka gold project, in Guyana. Under the terms of the agreement, Nordgold will have an option to acquire a 100% interest in the... 

African banks to fund construction of world’s biggest marine diamond mining vessel

By: Reuters     19th June 2019 Five African commercial banks have partnered in a $375-million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American's diamond unit De Beers. Nedbank Namibia, RMB Namibia, Standard Bank, ABSA and Bank Windhoek agreed to provide 80% of the funding for the ship,... 

The biggest winner from a rise in precious metals

By: Bloomberg     19th June 2019 The world’s best-performing precious-metals stock is up almost 90% this year, and there are signs the rally could run even further. Impala Platinum Holdings has outpaced 87 global peers with a market value of at least $1-billion in 2019, data compiled by Bloomberg show. The South African miner... 

The biggest winner from a rise in precious metals

Polymetal’s Voro complies with cyanide code

By: Creamer Media Reporter      19th June 2019 The Voro plant has become the second gold production operation of Russian miner Polymetal to be certified as being in full compliance with the international cyanide management code. The International Cyanide Management Institute certified Voro as compliant for a gold mining company and... 

W keeping capital costs of Régua project low

By: Creamer Media Reporter      19th June 2019 Aim-listed tungsten, tin and gold mining company W Resources has signed a contract with Francisco Pereira Marinho and Irmaos (FPMI) to provide haulage and crushing services to its Régua tungsten mine, in northern Portugal. The company said that ore from Régua would be hauled 27 km to the... 

Barrick offers more talk but not more stock for Acacia stake

By: Bloomberg     19th June 2019 Barrick Gold’s CEO has no intention of raising his offer to buy out the rest of troubled African unit Acacia Mining – but he will use the next three weeks to talk. Barrick said on Tuesday it received a three-week extension to make a formal offer to minority shareholders for the roughly 36% stake... 

Barrick offers more talk but not more stock for Acacia stake
Barrick CEO Mark Bristow

Finnish authority orders Afarak shareholder to pay €110m fine

By: Creamer Media Reporter      18th June 2019 The Finnish Financial Supervisory Authority (FFSA) has ordered Danko Koncar, the COO of and main shareholder in London-listed Afarak Group, to pay the Finnish government a €110-million fine. The authority in February 2018 ordered Koncar to launch a takeover bid for Afarak’s shares, claiming that... 

Finnish authority orders Afarak shareholder to pay €110m fine
Photo by Creamer Media
Afarak COO and main shareholder Danko Koncar

Six new members join Hydrogen Council

By: Creamer Media Reporter      18th June 2019 Six new member companies have joined the Hydrogen Council, a global CEO-led initiative for hydrogen technologies. The council now has 60 members after BP joined as a steering member and AVL, Itochu Corporation, Liebherr Group, Power Assets Holdings and SinoHytec joined as supporting members. 

Poland to offer some relief to biggest power consumers

By: Reuters     18th June 2019 Poland's government proposed draft regulations on Tuesday that would allow big electricity consumers to receive compensation for surging power bills. Wholesale power prices in Poland, which generates most of its energy from coal, jumped in the autumn last year following the rising costs of... 

The world will get half its power from wind, solar by 2050

By: Bloomberg     18th June 2019 Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummet. That titanic shift over the next three decades will come as electricity demand increases 62% and investors pump $13.3-trillion into new projects, according... 

Australia’s Resolute to list on LSE

By: Simone Liedtke     18th June 2019 ASX-listed Resolute Mining, which operates gold mines in Australia and Africa, expects its shares will start trading on the LSE on June 20. The dual listing on the LSE is a significant milestone in the ongoing transformation of the gold miner and takes place as the company ramps up its new Syama... 

Zambia’s Mopani Copper Mines shuts down smelter

By: Reuters     18th June 2019 Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. "The majority of the programme is expected to last until the end of the year and will result in a total shutdown of the plant. The investment in the new shafts... 

LME electronic pricing trial fails to boost volumes - sources

By: Reuters     18th June 2019 The London Metal Exchange's (LME's) three-month trial of switching to electronic closing prices for one of its benchmark base metal contracts has failed to lift volumes, industry sources said, lending further support to traditional open outcry trading. The trial, which moved nickel from the ring... 

Swiss refiner Metalor to stop processing artisanal gold

By: Reuters     18th June 2019 Switzerland's Metalor, one of the world's biggest gold refineries, said on Monday it would work only with gold from large industrial mines in order to reduce the risk of illegality in its supply chain. Informal methods of gold production, known as "artisanal" or small-scale mining, have grown... 

Lydian’s trespassing woes not over yet despite court ruling

By: Mariaan Webb     18th June 2019 Despite a court ruling that police should remove trespassers and their property from TSX-listed Lydian International’s Amulsar site, in Armenia, illegal blockages are continuing and the company had to turn to the courts again for an additional ruling. Lydian expects its new motion to be heard... 

Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline

By: Reuters     17th June 2019 Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer. Barrick must either firm up its proposal to acquire the 36.1% of Acacia it... 

Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline
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