Twitter

Europe Mining

Kremlin’s blood diamonds on the EU sanctions list – by Michał Kacewicz (Belsat.eu – January 20, 2024)

https://belsat.eu/en/

Diamonds have always been a crucial source of income for Russia, the world’s largest producer. Following two years of war, the EU has finally imposed sanctions on Russian diamonds and related businesses. The European Union has recently introduced the twelfth round of sanctions against Russia in response to its full-scale aggression towards Ukraine.

The sanctions were approved in December and came into effect at the beginning of this year. As part of this strategy, non-industrial diamonds mainly used to make jewelry and mined and processed in Russia cannot be imported into the EU. The ban applies to Alrosa, the leading Russian diamond producer and exporter. The Director of Alrosa, Pavel Marinychev, has been blacklisted and banned from entering EU countries.

Read more

Poland plans to set end date for coal power – by Kate Abnett (Reuters – January 15, 2024)

https://www.reuters.com/

BRUSSELS, Jan 15 (Reuters) – Poland plans to set an end date for coal-fuelled power, the country’s Secretary of State for Climate Urszula Zielinska said on Monday, marking a shift from the previous government’s stance on climate change.

Poland’s October 2023 election ended eight years of Law and Justice (PiS) party rule, and led to a new government that Zielinska said was increasing environmental efforts – including a phase out date for coal power.

Read more

Norway becomes first country to back deep-sea mining despite environmental concerns – by Rosie Frost (Ero News – January 11, 2024)

https://www.euronews.com/

According to a study by the Environmental Justice Foundation published on the day of the vote, deep-sea mining is not needed for the clean energy transition.

Norway has become the first country in the world to greenlight the controversial practice of deep-sea mining. A bill passed in the Norwegian Parliament on Tuesday (9 January) will accelerate the undersea hunt for minerals needed to build green technology such as batteries for electric vehicles. It authorises opening up parts of the country’s sea to mining exploration.

Around 280,000 square metres of the country’s national waters could gradually be opened up – an area nearly the size of Italy located in the Arctic between Svalbard, Greenland and Iceland.

Read more

EU adds Russia’s biggest diamond-mining company and CEO to sanctions list – by Mared Gwyn Jones (Euronews – January 3, 2024)

https://www.euronews.com/

PJSC Alrosa, which is owned by the Russian state, accounts for over 90% of all Russian diamond production, representing a highly valuable revenue stream for the Kremlin.

The EU said Wednesday that Alrosa and its CEO Marinychev had been added to the list of sanctioned persons and entities for “actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.” “The company constitutes an important part of an economic sector that is providing substantial revenue to the government of the Russian Federation,” it added.

Read more

The Majestic Marble Quarries of Northern Italy – by Luca Locatelli and Sam Anderson (New York Times – July 26, 2017)

 

Business Insider Video – June 25, 2022

https://www.nytimes.com/

Fueled by insatiable demand in the gulf states, the Italian marble trade is booming. A look at how the stone is wrenched from the earth.

The story of Italian marble is the story of difficult motion: violent, geological, haunted by failure and ruin and lost fortunes, marred by severed fingers, crushed dreams, crushed men. Rarely has a material so inclined to stay put been wrenched so insistently out of place and carried so far from its source; every centimeter of its movement has had to be earned.

“There is no avoiding the tyranny of weight,” the art historian William E. Wallace once put it. He was discussing the challenge, in Renaissance Italy, of installing Michelangelo’s roughly 17,000-pound statue of the biblical David.

Read more

EU sets critical mineral goals, but faces struggle to hit them – by Philip Blenkinsop (Reuters – December 18, 2023)

https://www.reuters.com/

BRUSSELS, Dec 18 (Reuters) – The European Union has set targets to dig up, recycle and refine lithium, cobalt and other metals it needs for its green transition, but a shortage of new money, crippling energy costs and local opposition could put them beyond reach.

The bloc will likely need to find ways to trim demand, find substitute materials and forge partnerships that break China’s stranglehold on mineral supplies. The Critical Raw Materials Act (CRMA), due to enter force in early 2024, says the bloc should mine 10%, recycle 25% and process 40% of its annual needs of 17 key raw materials by 2030.

Read more

Report: Russia has laundered $2.5 billion of African gold since February 2022 – by Martin Fornusek (Kyiv Independent – December 12, 2023)

https://kyivindependent.com/

The Kremlin has laundered $2.5 billion of African gold since the start of the full-scale invasion of Ukraine, according to a report by an international group of researchers and human rights activists published on Dec. 12.

Russia’s illicit activities and ties to authoritarian regimes in Africa have been under the public eye for years. Russian mercenaries on the continent, whose operations help to fill Moscow’s coffers, have been repeatedly accused of human rights abuses against local populations.

Read more

US Sanctions Russian Metals Magnate Sviblov and Gold, Zinc Firms – by Jack Farchy (Bloomberg News – December 12, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — The US imposed sanctions on Russian mining magnate Vladislav Sviblov and several mining companies connected to him, including one that’s developing one of the world’s largest zinc mines.

The sanctions are the latest move against the Russian metals and mining sector, and come after the UK imposed sanctions against Sviblov last month. Sviblov emerged as a significant player in the Russian metals scene in recent years, buying up several mid-sized gold companies, as well as building what was set to be one of the world’s largest zinc mines at Ozernoye in Siberia.

Read more

G7 to sanction Russian diamonds as of January – by LAURA HÜLSEMANN AND BARBARA MOENS (Politico EU – December 6, 2023)

https://www.politico.eu/

Russian diamonds are one of the last resources not sanctioned by the G7, meaning the profits from selling them can go into the Kremlin’s war chest.

G7 leaders on Wednesday agreed to impose a direct import ban on Russian diamonds as of January, while introducing a tracing system for diamonds during next year.

Russian diamonds are one of the last resources not sanctioned by the G7, meaning the profits from selling them can go into the Kremlin’s war chest.

Read more

Nornickel expects palladium and platinum shortage to widen this year – by Vladimir Basov (Kitco News – December 4, 2023)

https://www.kitco.com/

(Kitco News) – In its recent research report released today, Nornickel, the world’s largest producer of palladium and high-grade nickel, said that it has revised the 2023 palladium market deficit from -0.2 Moz to -0.9 Moz.

The company added it has reviewed the secondary supply of palladium from +9% growth down to 15% fall, while slightly lower than expected primary production from North America will be offset by weaker electronics demand. As for the platinum market, Nornickel expects it to flip into the fundamental deficit this year.

Read more

Deep-sea mining in the Arctic Ocean gets the green light from Norwegian lawmakers (Associated Press – December 5, 2023)

https://www.msn.com/

COPENHAGEN, Denmark (AP) — Norway’s minority center-left government and two large opposition parties made a deal Tuesday to open the Arctic Ocean to seabed mineral exploration despite warnings by environmental groups that it would threaten the biodiversity of the vulnerable ecosystems in the area.

Norway said in June it wanted to open parts of the Norwegian continental shelf for commercial deep sea mining in line with the country’s strategy to seek new economic opportunities and reduce its reliance on oil and gas.

Read more

Ukraine’s coal mines turn to women to solve wartime staff shortages – by Max Hunder (Reuters – November 22, 2023)

https://www.reuters.com/

PAVLOHRAD, Ukraine, Nov 22 (Reuters) – After more than a thousand of its workers went to fight Russia’s invasion, a coal mining enterprise in eastern Ukraine suffered a huge staff shortage. Its answer was to allow women to work underground for the first time in its history.

Over a hundred took up the offer. “I took this job because the war started and there were no other jobs,” 22-year-old Krystyna said candidly. For five months, she has worked as a technician 470 metres below ground, servicing the small electric trains which haul workers more than four kilometres from the lift shaft where they descend to the seams of coal.

Read more

UK Sanctions on Russian Plant Send Jitters Through Palladium – Eddie Spence (Bloomberg News – November 10, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — The cost of borrowing palladium has climbed since the UK imposed sanctions on a key Russian refiner earlier this week, reflecting bets that it may lead to supply disruptions.

Britain on Wednesday announced sanctions on Krastsvetmet JSC, which is the main refinery used by top palladium producer MMC Norilsk Nickel PJSC. If Western companies seek to avoid products processed at the refinery in response to the sanctions, Norilsk — which accounts for about 40% of global output — may struggle to find a more palatable alternative.

Read more

That diamond ring? It may have helped pay for Russia’s war – by Daniil Ukhorskiy (Kyiv Independent – October 12, 2023)

https://kyivindependent.com/

Editor’s note: This story uses sources who are speaking on condition of anonymity since revealing their identities would heavily damage their careers and expose them to legal and personal risks in the diamond industry. Their identities are known to the Kyiv Independent.

Soon after Russia launched its full-scale invasion of Ukraine, luxury brands like Tiffany and Cartier announced they had stopped buying Russian diamonds. An investigation by the Kyiv Independent has found evidence to the contrary. A year and a half into the all-out war, export data shows Russia keeps selling its diamonds to the West. Now, through intermediaries, primarily Dubai.

Thanks to weak American sanctions and the absence of any in the European Union, Alrosa, the leading Russian diamond producer partly owned by the state, keeps profiting from diamond sales. The company may be using some of its profit to fund the Russian military directly. Alrosa has not responded to a request for comment.

Read more

Fierce community opposition to copper, lithium projects threatens energy transition – by Editor (Mining.com – November 9, 2023)

https://www.mining.com/

Nationwide protests against mining projects are once again grabbing headlines amid a sweeping sense of urgency from governments and communities to gain greater control over minerals and metals that are essential for the transition to a low-carbon economy.

While nothing new, resource nationalism has ignited high-profile disputes in recent weeks, with First Quantum’s struggles in Panama and lithium miners’ in Portugal the two most radical examples.

Read more