Archive | Europe Mining

New £165m coal mine in Cumbria ‘unanimously approved’ by councillors despite escalating climate change crisis – by Tom Embury-Dennis (Independent – March 19, 2019)

https://www.independent.co.uk/

A new £165m coal mine has been unanimously approved by councillors in Cumbria, sparking protests by environmental campaigners. Cumbria County Council said it was putting jobs above climate change concerns after its development committee approved the plan on Tuesday afternoon.

West Cumbria Mining, which filed the application, wants to extract coking coal along the coastline between Whitehaven and St Bees in Copeland and process the fossil fuel at a plant nearby.

Last week, Copeland’s Conservative MP Trudy Harrison “wholeheartedly” endorsed the proposed undersea mine, touting new jobs and the “huge” investment it would bring to the area. International trade secretary Liam Fox has also given his backing to the project. Continue Reading →

Alrosa’s resources estimated in over 1 billion carats – by Valentina Ruiz Leotaud (Mining.com – March 17, 2019)

http://www.mining.com/

The world’s top diamond producer by output, Alrosa (MCX:ALRS), published this week an updated estimate of its Joint Ore Reserves Committee or JORC reserves and resources.

“The JORC Code-compliant report from Micon’s independent experts estimated Alrosa’s diamond resources and reserves as of 1 July 2018 at 1,064 million carats and 628 million carats, respectively,” the miner said in a press release.

With offices both in the United Kingdom and in Canada, Micon is an independent firm of geologists, mining engineers, metallurgists, and environmental consultants. Continue Reading →

Column: New controversy engulfs London Metal Exchange’s warehouses – by Andy Home (Reuters U.K. – March 13, 2019)

https://uk.reuters.com/

Long load-out queues earlier this decade generated media scandal, a flurry of legal action and intense regulatory scrutiny of the exchange. The ensuing raft of reforms to its storage network appeared to have laid the issue to rest.

Not so. At the end of February, there was a 229-day queue to get aluminium out of warehouses in Malaysia’s Port Klang. That’s business days, not calendar.

Some of that metal is at the centre of a dispute between the warehouse operator, ISTIM, and trading powerhouse Glencore, which has lodged a complaint with the LME. The argument turns on the minutiae of the exchange’s labyrinthine warehouse rules but the underlying problem remains the same as ever. Continue Reading →

Russia wants to join Luxembourg in space mining – by Vladimir Soldatkin (Reuters U.S. – March 6, 2019)

https://www.reuters.com/

LUXEMBOURG (Reuters) – Russia, a leading producer of natural resources, plans to join Luxembourg in mining for minerals in outer space, Russian Deputy Prime Minister Tatyana Golikova said on Wednesday.

Space mining has been the realm of science fiction, but a handful of firms and governments are pursuing the idea of making it a reality. The small Duchy of Luxembourg became the first country to adopt legal regulations relating to mining in space, including from asteroids.

“In January we offered Luxembourg a framework agreement on cooperation in the use of (mining) exploration in space. We expect an answer from Luxembourg,” said Golikova, part of a Russian delegation headed by Prime Minister Dmitry Medvedev. Continue Reading →

Europe’s first lithium mine looks to automakers for investment – by Christiaan Hetzner (Automative News Europe – February 21, 2019)

https://europe.autonews.com/

BOCHUM — Europe’s first lithium mine is looking for investors from the auto industry looking to secure an environmentally-friendly supply of the key battery material for their electric vehicles.

While the 250-million-euro project in Finland will not be enough to make Europe self-sufficient, the company expects it can deliver enough lithium to comprise 25 gigawatt hours of battery cell supply starting at the end of 2021.

Speaking on the sidelines of the annual CAR Symposium in Bochum earlier this month, the mine’s operator said automakers are mulling the possibility of owning a stake. Currently a ton of battery-grade lithium hydroxide sells on the open market for about $14,000, but prices can vary considerably. Continue Reading →

Palladium Smashes $1,500 as Shortages Ignite Record-Breaking Rally – by Ranjeetha Pakiam (Bloomberg News – February 20, 2019)

https://finance.yahoo.com/

(Bloomberg) — Palladium surged above $1,500 an ounce to a record, extending a powerful rally that’s been driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls.

Spot palladium surged as much as 1.7 percent to $1,505.46 an ounce, and traded at $1,488.20 at 10:08 a.m. in New York. Prices are set for a seventh straight monthly gain. The advance will benefit top suppliers in Russia and South Africa. In other precious metals, gold rallied to a 10-month high, while silver and platinum both climbed.

Palladium, a silvery-white metal used to curb emissions from gasoline-fueled vehicles, has tripled since January 2016. Citigroup Inc. said this month that further gains may be in store, warning the market will only balance with a shock to demand. Prices may hit $1,600, the bank forecasts. Continue Reading →

China Steps up Its Mining Interests in Greenland – by Marc Lanteigne and Mingming Shi (The Diplomat – February 12, 2019)

https://thediplomat.com/

China’s growing involvement in Greenland presents risks and opportunities.

A major component of China’s expanding interests in the Arctic, as outlined in Beijing’s January 2018 White Paper on the region, has been the development of joint ventures on resource extraction, including fossil fuels and raw materials.

While Russia has been receiving the lion’s share of attention in the area of Chinese resource diplomacy in the Arctic, with the China-supported Yamal liquefied natural gas project being a major example, Greenland is emerging as another key component of Beijing’s emerging ‘Ice Silk Road.’

As the Greenland Ice Sheet continues to erode due to regional climate change (a paper published last month by the U.S. Proceedings of the National Academy of Science concluded that ice loss on the island has been accelerating significantly since the start of this century), more parts of Greenland’s coastal regions are opening up to potential mining projects. Continue Reading →

Nornickel promises halt in death clouds – by Atle Staalesen (The Barents Observer – February 7, 2019)

https://thebarentsobserver.com/en/

Poisonous air on 25th January rolled over the border and into the Norwegian settlement of Svanvik where local authorities quickly recommended people to stay indoor. It was another day with heavy emissions from the melters in Nikel, the nearby company town of mining and metallurgy giant Norilsk Nickel.

The company that same evening decided to temporary reduce production in a bid to curb emissions.

«After we got the information about the unfavourable weather conditions we introduced limitations in the technological regime of the melter in Nikel, even down to a halt in the feeding of raw materials to the furnaces,» says Yevgeny Bozenko, general director of Kola MMC, the regional subsidiary of Nornickel. Continue Reading →

In the new lithium ‘Great Game,’ Germany edges out China in Bolivia (Channel News Asia – January 28, 2019)

https://www.channelnewsasia.com/

When Germany signed a deal last month to help Bolivia exploit its huge lithium reserves, it hailed the venture as a deepening of economic ties with the South American country. But it also gives Germany entry into the new “Great Game”, in which big powers like China are jostling across the globe for access to the prized electric battery metal.

UYUNI, Bolivia/BERLIN: When Germany signed a deal last month to help Bolivia exploit its huge lithium reserves, it hailed the venture as a deepening of economic ties with the South American country.

But it also gives Germany entry into the new “Great Game”, in which big powers like China are jostling across the globe for access to the prized electric battery metal. Continue Reading →

Rusal shares soar, aluminum falls as U.S. lifts sanctions – by Patricia Zengerle and Polina Ivanova (Reuters U.S. – January 27, 2019)

https://www.reuters.com/

WASHINGTON/MOSCOW (Reuters) – U.S. President Donald Trump’s administration on Sunday lifted sanctions on the core empire of Russian tycoon Oleg Deripaska, including aluminum giant Rusal and its parent En+, despite a Democrat-led push to maintain them.

The move, which sent the Russian stock index to an all-time high, has watered down the toughest penalties imposed since Moscow’s 2014 annexation of Crimea, following a lobbying campaign in the United States that lasted almost 10 months.

Hong-Kong listed shares in Rusal, the world’s largest aluminum producer outside China, hit their highest since April on Monday, rising 9 percent. Aluminum prices on the London Metal Exchange (LME) dropped as much as 1.4 percent after the open. The sanctions had sent London aluminum to a seven-year high when they were announced in April last year amid fears of a supply squeeze. Continue Reading →

Miners waiting for higher nickel, metals prices – by Harold Carmichael (Sudbury Star – January 18, 2019)

https://www.thesudburystar.com/

The prices of nickel and other metals prices will recover, especially when more electric vehicles are built, mining analysts say. When they do, work at Levack Mine’s Morrison deposit will resume. Until then, KGHM Sudbury will keep the deposit in a care and maintenance mode, company officials say.

“It was very difficult,” Steve Dunlop, KGHM Sudbury general manager, said about meetings with employees held Wednesday to break the news. “Our concern is certainly with our employees. We are a fairly tight family. All of our workers have 10-plus years and the staff (members) have also been with us for quite a long time. It was very difficult.”

Slumping world nickel prices have prompted KGHM Sudbury to halt production at its Morrison deposit, putting an estimated 120 employees out of work as of late March when the mine goes into care and maintenance mode. A total of 87 of the affected 120 employees are members of United Steelworkers Local 2020. Continue Reading →

KGHM to shutter Sudbury-area mine – by Staff (Sudbury Star – January 17, 2019)

https://www.thesudburystar.com/

Blaming a long slump in metals prices, mining company KGHM on Wednesday announced it was shuttering its Levack Mine’s Morrison Deposit, throwing more than 100 people out of work.

“This is not an easy situation for the employees and families impacted,” general manager Steve Dunlop said in a release. “We are a small company and we all know each other quite well. This announcement hasn’t been a surprise for many of our people as this is a cyclical industry and we have been openly working with them on solutions to our financial challenges at Morrison — but that certainly doesn’t make this any easier.

“We were really hoping the mining sector would have recovered by now.” KGHM, a Polish-owned company, said the commodities market has been struggling and slow to recover, which is putting immense financial pressures on resource-based companies around the world and locally — as witnessed by cutbacks with other local operators in the past year. Continue Reading →

Russian Diamond Giant Alrosa Is Going Back to Zimbabwe – by Yuliya Fedorinova and Thomas Biesheuvel (Bloomberg News – January 15, 2019)

https://www.bloomberg.com/

Alrosa PJSC, one of the world’s top diamond miners, is returning to crisis-stricken Zimbabwe, the latest example of Russia expanding its footprint in Africa.

The company will develop new mining operations with the support of the government, Alrosa said Monday as Zimbabwe’s President Emmerson Mnangagwa visited Moscow to try and raise investment for his economically blighted nation. In Mnangagwa’s absence, protests against his government’s economic mismanagement intensified, with 24 injured on Monday and five possibly dead.

Mnangagwa, who became president in 2017, sees diamonds as one way to help revive his nation’s mining industry, which suffered years of decline under his predecessor Robert Mugabe. The government is considering waiving a rule that has prevented foreign investors from holding controlling stakes in its diamond mines, as it targets production of 12 million carats by 2023, up from 3.5 million carats last year. Continue Reading →

Russia’s $75 trillion in resources is why sanctions are impossible (Preston Business Review – December 31, 2018)

https://prestonbusinessreview.com/

Russia’s $75 trillion in resources is why sanctions are impossible The country with the largest mineral reserves in the world, Russia, is the second top exporter of rare earth minerals. Its natural resources are estimated at tens of trillions of dollars.

It has abundant supplies of oil, natural gas, timber and valuable minerals, such as copper, diamonds, lead, zinc, bauxite, nickel, tin, mercury, gold and silver. Most of those resources are located in Siberia and the Far East.

Russia’s mining industry, which is the country‘s second largest after oil and gas, accounts for a significant share of its GDP and exports. The country is among the top three producers of mineral commodities such as platinum, gold and iron ore. It is also the world‘s largest producer of diamonds and palladium. The Ural Mountains have vast amounts of minerals while most deposits of coal, oil, gas and timber are located in Siberia. Continue Reading →

Grand Theft Cobalt: Rotterdam – by Kit Chellel and Mark Burton (Bloomberg News – December 27, 2018)

https://www.bloomberg.com/

Thieves are pulling off audacious metal heists at Europe’s largest port. They’re even stealing from the Cobalt Jesus.

A group of bankers, brokers, and journalists was huddled outside a dingy warehouse along the Nieuwe Maas River in Rotterdam on a gray morning last January. All around was the industrial sprawl of Europe’s largest port, a landscape of cranes and colorful shipping containers stacked up like Lego bricks, reversing trucks and squalling gulls.

The building was run by Vollers Group GmbH, a logistics specialist based in Germany. One of its managers, Martijn Wijbrandi, led his visitors inside to get high-viz jackets and a safety briefing. We’ve never had a problem with theft, Wijbrandi said, but it pays to be careful.

He pointed out the alarm system, secured by a PIN code. On the warehouse floor, everyone filed past piles of magnesium bricks and bags of coffee to an area walled off by steel sheets that rose almost to the ceiling. A security camera was aimed at the padlocked sliding door. Continue Reading →