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Canada’s Eldorado suspends Greek investment over regulatory hurdles – by Karolina Tagaris (Reuters U.S. – September 11, 2017)

https://www.reuters.com/

ATHENS (Reuters) – Canada’s Eldorado Gold Corp said on Monday it would suspend investment at its Greek mines and development projects, blaming regulatory hurdles for halting one of the biggest investments in Greece since the country’s debt crisis.

Citing delays in permits from the Greek government, Eldorado said no additional investment would be made into the Olympias and Skouries projects and the Stratoni mine, which has been operational, in Greece. It will place all its projects on care and maintenance from Sept. 22.

The Skouries mine on the Halkidiki peninsula in northern Greece, a landscape of pristine beaches and lush forests, has long been a flashpoint with the authorities and a test of Greece’s resolve to push ahead with foreign investments.

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How green are the batteries?: Electric car revolution boosts business for big Arctic air-polluter – by Thomas Nilsen (The Baren Observer – September 7, 2017)

https://thebarentsobserver.com/en/

Nornickel eyes sharp increase in demand for nickel and copper as tens of millions of electric cars hit the roads over the next few years. Nickel prices leap to new heights, increasing 36% over the last two months. Copper, another key metal for electric car batteries, has seen prices climb by nearly 20% since mid-summer.

That is very good news for Nornickel, one of the world’s largest suppliers of both nickel an copper. With factories on the Taymyr Peninsula and in the Murmansk region, the company’s directors are smiling all the way to the bank. And back. With workers’ salaries to be paid in rubles, and sales abroad in dollars, Nornickel is benefiting from Russia’s turbulent economy with low currency rate.

Nornickel now wants to expand sales to the electric car industry. Recently the company signed an agreement with BASF on possible supply of raw materials for future battery material production for lithium-ion batteries in Europe.

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[Sweden Iron-Ore Mining] How to Move a Town (Bloomberg News – September 5, 2017)

https://www.bloomberg.com/

The citizens of Kiruna, Sweden, always knew they’d have to move to accommodate the local iron-ore mine. They just didn’t expect it to happen so soon, or so all at once.

Appropriately, it was the dog musher who broke trail. Sune Stralberg, 66, is a national champion musher, a maker of dogsleds, and owner of Bjorkis Hundprodukter, a one-stop shop for organic kibble, spare sled parts, and dog leads and harnesses.

All of this makes him a local celebrity in his hometown of Kiruna, Sweden’s northernmost city. He has the white beard and jovial affect of a skinny Swedish Santa and speaks in lovely, lilting sentences, even when he’s recounting painful memories, such as one from three years ago, when he was forced to move his shop out of its longtime home and into a strip mall 2 miles down the road.

He had little choice—the ground beneath the old shop was on the verge of collapse, like much of the rest of the town. “I already knew that I would move because of the iron,” Stralberg says with a shrug. “Everyone knew.”

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Russia Has a Gem of an Idea to Take on India – by Yuliya Fedorinova, Olga Tanas and Thomas Biesheuvel (Bloomberg News – September 6, 2017)

https://www.bloomberg.com/

Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters so the industry can better compete in a market that’s dominated by Indian manufacturers.

As part of a plan to boost the competitiveness of Russian diamonds, the government wants Alrosa PJSC to offer more favorable terms to cutters including Kristall Production Corp., Russia’s largest, according to Deputy Finance Minister Alexey Moiseev. The producer, which digs more gems out of the ground than any other firm, is mostly state owned.

“Cooperation currently is rather limited and it has to expand,” Moiseev said in an interview in Moscow. Alrosa has largely shunned cutting and polishing to focus on mining, where it can get bigger margins.

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In its third year, North American Nickel’s Maniitsoq drill campaign casts a wider net – by Henry Lazenby (MiningWeekly.com – August 30, 2017)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Drilling productivity at base metals explorer North American Nickel’s (NAN’s) Maniitsoq project, in south-west Greenland, has been lower than expected, prompting the company to add another drill rig and extend the drilling programme by two weeks to late September, to achieve as many metres as possible.

The TSX-V-listed junior is entering its third year of a strategic drilling campaign at its flagship nickel/copper/cobalt/platinum group metals project, focusing on step-out drilling at the Imiak Hill Complex (IHC), Fossilik and P-013SE.

The programme makes use of borehole electromagnetic surveys, surface induced polarisation geophysical surveys, mapping, structural geological studies and three-dimensional modelling.

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Romania wants former mining city of Rosia Montana to be pulled from UNESCO list – by Cecilia Jamasmie (Mining.com – August 30, 2017)

http://www.mining.com/

Move could mean good news for Gabriel Resources’ long-stalled namesake gold project.

Romanian Prime Minister Mihai Tudose plans to ask UNESCO to revoke the status of World Heritage site for the former mining town of Rosia Montana, as the nomination means important gold reserves can no longer be exploited.

The application, submitted to UNESCO by the former government, was the last nail in the coffin for Canadian Gabriel Resources’ (TSX:GBU) namesake project, which faced relentless local opposition and several attempts to block the proposed mine by the government.

In 2014, parliament yielded to pressure from environmentalists, worried about the potential use of cyanide to mine about 314 tonnes of gold and 1,500 tonnes of silver, and halted the project.

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NEWS RELEASE: Young Mining Professionals Annouces New Chapter in London, U.K. (August 23, 2017)

http://www.youngminingprofessionals.com

Toronto, Canada – August 23, 2017 – Young Mining Professionals (“YMP”) is pleased to announce its newest chapter located in London, UK. The YMP London chapter expands YMP’s reach to four cities, and is its first international chapter. YMP London was established independently at the beginning of 2017, hosted two successful events, and subsequently was approached by YMP to merge with their network of chapters.

With YMP now in Canada coast to coast, we are pleased to be represented internationally in London, UK, as it is a true global hub for mining and finance. YMP will look for opportunities to engage further mining cities around the globe to leverage the networks within these mining hubs.

About YMP

YMP is a growing association of mining professionals based in Vancouver, Toronto and Montreal, and now London, UK, that share the goal of advancing the global profile and leadership of the Canadian and United Kingdom based mining industry.

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UPDATE 2-Strong rouble, one-off expenses hit Russia’s Nornickel’s H1 earnings – by Polina Devitt (Reuters India – August 15, 2017)

https://in.reuters.com/

MOSCOW, Aug 15 (Reuters) – Russia’s Norilsk Nickel reported a 3 percent fall in first-half core earnings on Tuesday, missing analysts’ forecasts, due to a stronger rouble and a jump in social expenses. The mining giant, known as Nornickel, said “one-off” costs lifted its social expenses to $196 million in the first half from $57 million a year ago.

This included the second tranche of a previously announced investment in a ski resort used in the 2014 Sochi Olympics and the provisional cost of a long-term social agreement with the Zabaikalsky region, where some of its deposits are located.

Its first-half earnings before interest, taxation, depreciation and amortisation (EBITDA) fell 3 percent year on year to $1.7 billion. Analysts polled by Reuters had expected first-half EBITDA at $1.8 billion.

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Cornish Lithium project secures 1 million pounds for exploration – by Barbara Lewis (Reuters U.S. – August 14, 2017)

https://www.reuters.com/

LONDON, Aug 14 (Reuters) – British mining company Cornish Lithium has secured 1 million pounds ($1.30 million) to explore for lithium in Cornwall, southwest England, its CEO said, taking the country a step closer to a domestic source of the strategic mineral.

Lithium plays an essential role in electric car batteries, and is produced by evaporation in Latin America, which has been considered the cheapest source. But new technology to extract lithium from brine is helping to make other options more viable.

In January, Cornish Lithium said it had reached a mineral rights agreement with Canada’s Strongbow Exploration. It then said it needed around 5 million pounds to develop its project to extract lithium from underground hot springs and to supply products to the rapidly growing battery market for electric cars and for power storage.

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Major Miners’ Battle to Get Into Batteries Steps Up a Notch – by David Stringer (Bloomberg News – August 11, 2017)

https://www.bloomberg.com/

The world’s biggest miners’ determination to muscle into the burgeoning battery market stepped up a notch with Rio Tinto Group reporting breakthroughs in cracking the technology needed to unlock its giant lithium project in Serbia that could meet 10 percent of global demand.

Tests at a research facility in a converted shipping container in Australia have successfully produced lithium products from samples from the Jadar deposit, the company said Friday. It’s aiming to bring the mine in Serbia into production as soon as 2023 to tap soaring demand for the metal used in batteries for electric vehicles and power storage.

“There has been, through the phases, a number of breakthrough steps,” Simon Trott, Rio’s salt, uranium and borates division managing director, told reporters at the facility in Melbourne. “The key is that we’re producing lithium carbonate that’s to a specification that we are very confident” will meet customer requirements, he said.

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Glencore turns bigger copper, zinc price bull: Nickel not so much – by Frik Els (Mining.com – August 10, 2017)

http://www.mining.com/

Miner and commodities trader Glencore (LON:GLEN) raised its revenue and profit outlook for the year on Thursday with the Swiss company citing the fast-growing electric vehicle market as a key driver.

“Most automotive players are now accelerating investment in/adoption of electric vehicle technologies, reflecting, in part, increasingly aggressive Government mandates around emission targets.

Growth in electric vehicle/energy storage systems requires changes in material flows, including the installation, rebuild and replacement of supporting infrastructure. Based on current and emerging technologies, these changes should benefit enabling commodities such as copper, cobalt and nickel,” Glencore said in a statement accompanying its half-year results.

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Greece to kick off arbitration process over Eldorado Gold’s project – by Cecilia Jamasmie (Mining.com – August 3, 2017)

http://www.mining.com/

Eldorado Gold (TSX:ELD)(NYSE:EGO) will face Greek officials in an arbitration court later this month as the country’s government sees the move as the preferred way to settle its differences with the Canadian miner.

The country’s Energy Minister George Stathakis met representatives from Eldorado’s local unit Hellas Gold in Athens on Wednesday to discuss the process and issues related to the miner’s projects in northern Greece.

According to the ministry’s statement (in Greek), the process is scheduled to begin at the end of August, though the company noted it has yet to receive formal notice of the looming mediation.

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BMI says outlook for Russian nickel sector bleak – by Staff (MiningWeekly.com – August 3, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Fitch group company BMI has lowered its forecast for Russian nickel production in 2017, and says the outlook for the country’s domestic production over the next five years looks bleak.

BMI stated this week that Russia’s nickel production would remain on a negative trend this year, following a contraction of 4.8% year-on-year in 2016, citing ongoing operational challenges at Norilsk Nickel mines, which account for more than 80% of domestic output.

“We have revised down our previous forecast of 1% average nickel production growth this year to a decrease of 5%, meaning absolute production in the country will drop from 256 000 t in 2016 to 243 000 t in 2017,” the company said.

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USGS Assesses Billions of Potential Potash Resources in Ukraine (United States Geological Survey – August 3, 2017)

https://www.usgs.gov/news/

The Dnieper-Donets Basin of Ukraine could contain an estimated 4.3 billion tons of undiscovered potassium-bearing salt according to a recent U.S. Geological Survey assessment. In addition, previous estimates show that the nearby Pripyat Basin of Belarus could contain 80–200 billion metric tons of undiscovered potash resources.

The term “potash” refers to potassium-bearing, water-soluble salts like potassium chloride derived from evaporite basins, where seawater evaporated and precipitated various salt compounds. In 2010, world potash production was about 33 million metric tons, mostly for use in fertilizers.

Potash resources are often expressed in terms of the amount of potassium oxide (K2O) that can be obtained from the potassium-bearing salt. For instance, the 4.3 billion tons of potassium-bearing salt in the Dnieper-Donets Basin is the equivalent of 840 million tons K2O, while the 80–200 billion metric tons of potassium-bearing salt in the Pripyat Basin could contain 15-30 billion metric tons of K2O.

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Germany’s long goodbye to coal despite Merkel’s green push – by Vera Eckert (Reuters U.S. – August 2, 2017)

https://www.reuters.com/

FRANKFURT (Reuters) – Burning coal for power looks set to remain the backbone of Germany’s energy supply for decades yet, an apparent contrast to Chancellor Angela Merkel’s ambitions for Europe’s biggest economy to be a role model in tackling climate change.

Merkel is avoiding the sensitive subject of phasing out coal, which could hit tens of thousands of jobs, in the campaign for the Sept. 24 election, in which she hopes to win a fourth term. Although well over 20 billion euros are spent each year to boost Germany’s green energy sector, coal still accounts for 40 percent of energy generation, down just 10 points from 2000.

To avoid disruption in the power and manufacturing sectors, coal imports and mines must keep running, say industry lobbies, despite the switch to fossil-free energy. “(Coal) makes a big contribution to German and European energy supply security and this will remain the case for a long time to come,” the chairman of the coal importers’ lobby VDKi, Wolfgang Cieslik told reporters last week.

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