Resource nationalism has reached Greece

MINEX FORUM | September 15, 2017
img0 Canadian miner Eldorado Gold’s threat this week to freeze investments in Greece after years of frustrating and costly permit delays highlighted the risks the industry faces when it strays away from mining-friendly countries, said miningweekly.com. After moving into higher-risk countries in recent years to mine new deposits, companies are being forced to seek safe havens during a rise in so-called ...

Eldorado Gold could get permits for its Olympias project in the next few days

MINEX FORUM | September 13, 2017
img0 Greece will grant Canada’s Eldorado Gold outstanding permits for its Olympias project this week, its Energy Minister George Stathakis said on Wednesday. Dozens of Eldorado Gold workers rallied outside the energyministry in Athens on Wednesday to protest against potential job losses after the Canadian company threatened to suspend investment at its Greek mines, demanding permits and clarifications on an upcoming arbitration process, said miningweekly.com with reference ...

Petropavlovsk’s profit increased by 166%

MINEX FORUM | September 12, 2017
img0 Petropavlovsk PLC issues its Half Year Report for the period from 1 January 2017 to 30 June 2017 (“H1 2017″ or the “Period”). Financial Highlights ■   20% increase in Group Revenue to US$304 million (compared to US$254million in 2016) due to 19% increase in production and 5% increase in average realised gold price ■   Profit for the ...

Russia to compete with India for the polished diamonds market

MINEX FORUM | September 6, 2017
img0 Russia’s government wants state-owned Alrosa (MCX:ALRS) to offer more favorable terms to local cutters so they are able to compete in a market that’s dominated by Indian manufacturers, said mining.com with reference to Bloomberg. In an interview with Bloomberg, Deputy Finance Minister Alexey Moiseev said that the Putin administration would like for Alrosa -which is the ...

Finland swaps coal for atom

MINEX FORUM | September 5, 2017
img0 The director general of Finland’s energy department, Riku Huttunen, announced that the country will introduce legislation to phase out coal and increase carbon taxes, said mining.com. The new rules, which Huttunen said would “leave room for manoeuvre,” are expected to be in place by 2018 and the goal is to get rid of coal by 2030. Flexibility ...

Romanian Prime minister to revoke the World Heritage site status to help Gabriel Resources

MINEX FORUM | August 31, 2017
img0 Image:  voanews.com 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, said mining.com. The application, submitted to UNESCO by the former government, was the last nail in the coffin for Canadian ...

Improvement of environmental standards in the extractive industries requires significant upfront costs

MINEX FORUM | August 24, 2017
img0 With metals and mining companies increasingly investing in technology that will help reduce their carbon footprints, owing to the global drive to lower carbon emissions, meaningful efforts to improve environmental standards in the extractive industries require significant upfront costs, said miningweekly.com with reference to Fitch Group-affiliated BMI Research. In its latest industry trend analysis on corporate strategies for a low-carbon economy, ...