Latest issue of International Mining Project News available (November 21): With the sense of uncertainty that is circulating throughout the industry, project reports and updates are increasing in importance. As a consequence another section on cutbacks has been added. Included in this section is Freeport McMoran Copper and Gold’s Climax molybdenum mine and Xstrata Alloys and Merafe Resources’ Xstrata-Merafe venture; representing two of many featured companies having to adjust their projects to suit the times.
On more positive news, Gindalbie Metals has accepted an offer by its joint venture partner in the Karara iron ore project, Anshan Iron & Steel, to fund Gindalbie’s share of the equity contribution towards the estimated A$1.8 billion project development cost via a A$162.06 million share placement to Ansteel. The re-scheduled timeframe – a result of this placement – will have no impact on the ongoing engineering, design and development work currently being carried out for Karara, located 225 km north of Gerlaldton in Western Australia.
There is also news of Avalon Minerals, which has taken steps to progress drilling and feasibility studies at its flagship Viscaria copper project, located in the Norrbotten area of northern Sweden. It intends to raise A$2 million through the placement of 20 million shares at A$0.10/share, helping the company extend the known high-grade resources at Viscaria through extensional drilling.
In project people, the North West Iron Ore Alliance has appointed former Chief Executive of the Association of Mining & Exploration Companies (AMEC), Dr Justin Walawski, as the Alliance’s Deputy Chairman and Chief Executive. Walawski will be responsible for overseeing the Alliance’s operations as it continues to focus on negotiating key rail and port access arrangements and completing a scoping study for infrastructure development at Port Hedland.
Featured in feasibility, Marengo Mining is well underway with Phase 2 of its study on its wholly-owned Yandera copper-molybdenum project in Papua New Guinea. Recent resource drilling, together with metallurgical data and initial project operating cost information, has resulted in several open pit designs, mine schedules and layouts to be generated. Phase 2 includes metallurgical test work, which is already showing some very positive results, mine design, plant design, equipment selection and infrastructure layout. This represents but a few of the projects featured in this issue, which includes updates on Gold Ore Resources’ Bjorkdal gold mine in Sweden, BHP Billiton’s Olympic Dam extension project in Australia and Codelco’s Gaby copper mine in Chile.
To receive the full 30+ page report, subscriptions to this service can be registered and paid for on-line (SUBSCRIBE TO IM PROJECT NEWS BUTTON), or contact [email protected] for a free trial copy.
