Gabriel Resources is planning to sue the Romania’s government for $4,4 billion

MINEX FORUM | June 30, 2017
img0 Image: euractiv.com Canada’s Gabriel Resources (TSX:GBU) is suing Romania for $4.4 billion in alleged losses over its long-stalled Rosia Montana gold and silver project, which the government of that country refused to approve following relentless protests, noted mining.com. The London, England-based miner said the suit would be filed Friday with a World Bank Tribunal. In the claim, ...

Mechel will spend about $24 millon to pay dividends

MINEX FORUM | June 30, 2017
img0 Mechel PAO (NYSE: MTL, MОEX: MTLR), one of the leading Russian mining and metals companies, reports the decisions made by the annual general shareholder meeting held today. The shareholders decided not to pay an annual dividend with respect to ordinary shares, but to pay an annual dividend of 10.28 rubles per one preferred share (approximately 0.17 US ...

Shavkat Mirziyoyev approved the coal industry modernisation plan

MINEX FORUM | June 29, 2017
img0 On 13 June 2017, President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On programme on further development and modernization of coal industry for 2017-2021”, uzdaily.com reported. Within the programme, Angrenskaya and Nish-Bash mines should be built. It also included measures on modernization of old equipment. Measures will be taken to maintain the production capacity and modernize ...

Uzbekistan becomes the second-fastest-growing economy in 2017

MINEX FORUM | June 29, 2017
img0 Uzbekistan has the second-fastest-growing economy, with projected growth of 7.6% thanks to rising oil prices, benign global financing conditions, robust growth in the Euro Area, and generally supportive policies among governments of several large countries in the region, noted weforum.org with reference to World Bank’s latest edition of Global Economic Prospects. According to the bank’s forecasts ...

Eldorado Gold decreases its annual output outlook by 9-14%

MINEX FORUM | June 29, 2017
img0 Image: tuprag.com.tr Canada’s Eldorado Gold (TSX:ELD) (NYSE:EGO) may miss its 2017 guidance by as much as 25% due to leaching problems at its Kışladağ mine in Turkey, one of its largest operations, mining.com reported. The Vancouver-based company said late Tuesday that Kışladağ is now expected to produce 180,000-210,000 ounces of gold this year. Incorporating that revised guidance, ...

Auriant Mining to issue new shares for 178 MSEK

MINEX FORUM | June 28, 2017
img0 The Board of Directors of Auriant Mining AB announces its plan to propose a partially underwritten rights issue totalling approximately 178 MSEK (the “Offering”) to an Extraordinary General Meeting. The Offering is expected to consist of a maximum of 71,209,716 new shares (the “Offer Shares”). • The Company announced on 10th May that it was ...