US increases its coal export to Europe and Asia

MINEX FORUM | July 31, 2017
img0 Coal exports to Europe and Asia are surging despite criticism from countries such as France and China over President Trump’s decision to exit the Paris climate change agreement, according to new federal data, washingtonexaminer.com noted. Coal exports for making steel and generating electricity rose 58 percent in the first three months of the year compared ...

Norilsk Nickel reduced nickel production by 15% due to decrease of third parties delivery

MINEX FORUM | July 31, 2017
img0 PJSC MMC Norilsk Nickel, the largest refined nickel and palladium producer in the world, announces preliminary consolidated production results for the second quarter and the first half of 2017. First Vice-President – Chief Operating Officer, Sergey Dyachenko commented on the 1H17 production results: «In 2Q17 our platinum group metals (PGMs) production increased substantially owing to ...

Polyus had pledged its controlling stake

MINEX FORUM | July 31, 2017
img0 PJSC Polyus (LSE, MOEX – PLZL), the largest gold producer in Russia, announced that on 28 July 2017 Polyus Gold International Limited (“PGIL”) had pledged 66,780,561 ordinary shares of 1 Russian ruble each in the capital of the Company (the “Pledged Shares”) to secure certain obligations of PGIL. PGIL’s ownership in the Company remains unchanged.  The ...

Mining regulation makes it to space

MINEX FORUM | July 14, 2017
img0 The small country of Luxembourg has become the first European nation to pass a space mining law, which recognises that private owners have rights to the resources extracted in space. The new law, which will enter into force on August 1, also establishes procedures for authorising and supervising space exploration missions, miningweeekly.com notes. The passing of the law is a key action in ...

Uranium under pressure

MINEX FORUM | July 14, 2017
img0 Uranium was the glaring exception amid a broad-based rally in metals and minerals in 2016. The price of U3O8 fell 41% in 2016 with the industry tracker UxC’s broker average price hitting 12-year lows below $18 per pound in November, mining.com notes. After top supplier Kazakhstan announced in the second week of January that it’s cutting output by 5.2 ...

Sberbank launches physical gold trading on the Shanghai Gold Exchange

MINEX FORUM | July 13, 2017
img0  Russia’s biggest bank Sberbank said on Thursday its Swiss subsidiary had begun trading physical gold on the Shanghai Gold Exchange said miningweekly.com with reference to Reuters. Sberbank was granted international membership of the Shanghai exchange in September last year and in July completed a pilot transaction with 200 kg of gold kilobars sold to local financial institutions, the bank said. Sberbank plans to expand its presence on the Chinese ...

Macron to try to accommodate environmentalists and miners

MINEX FORUM | July 13, 2017
img0 Central to Macron’s strategy to win over the doubters are ambitious labour law reforms aimed at kick-starting France’s economy. What role, if any, does mining play in the new president’s plans? mining-technology.com asks. In his previous position as Minister of Industry and Economic Affairs, Macron approved a number of domestic mineral exploration projects and supported plans ...

Trump Jr’s correspondence has positive impact on gold

MINEX FORUM | July 13, 2017
img0 Funds flowed into gold on Wednesday, while the dollar tanked amid fresh political uncertainty triggered by US President Donald Trump’s son emails and meeting last summer with a Kremlin-linked lawyer that promised “sensitive information” to “incriminate” Democratic presidential nominee Hillary Clinton, mining.com reported. The news came amid an ongoing investigation by the Justice Department and the House ...

MINEX Russia 2017: Mining in Russia – moving up with the buoyant markets

MINEX FORUM | July 12, 2017
img0 The 13th International Mining and Exploration Forum – MINEX Russia 2017 will take place at the Radisson Slavyasnkaya in Moscow on 10 – 12 October 2017. Organised under the main theme “Mining in Russia – moving up with the buoyant markets” the Forum will provide an industry-wide discussion on Russia’s mining industry growth scenarios and its ability to renew ...

Serbia anticipates investors from China

MINEX FORUM | July 12, 2017
img0 In the 19th century mansion in central Belgrade where bureaucrats plan some of Serbia’s important overseas projects, 64-year-old Ivan Mrkic is busy unpacking boxes teeming with the books, research papers and maps he needs to become an instant expert on China. Mrkic, a one-time Foreign Minister, anticipates investors from Hong Kong and Beijing will pour tens of millions of euros into eastern Europe and he wants Serbia — among ...

ALROSA sold $365 million worth of diamonds

MINEX FORUM | July 12, 2017
img0 In June 2017, ALROSA Group sold USD 365 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 354.4 million, polished diamond sales – USD 10.6 million. In January–June 2017, ALROSA’s rough and polished diamond sales edged up to USD 2.497 billion. Rough diamonds were sold for USD 2.442 billion, ...