Sierra Gorda mine inaugurated, Agata projects first iron and nickel shipment, and much, much more

The latest issue of International Mining Project News, out today, has reports on 11 prefeasibility studies, seven feasibility studies, 24 projects in development, five new mines that have gone into production, nine existing mines that are expanding, three merger and acquisition announcements and many new appointments to new positions. The report covers 22 gold projects, 10 copper, six coal projects, four iron ore, and zinc projects, three nickel projects, three tungsten and nickel projects, two projects on graphite, rare earths, silver, alumina, lead, and one project each on bauxite, potash, diamonds, uranium, base metals, clay, vanadium, titanium, tantalum, tin, and grapheme.

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As announced previously by IM, Sierra Gorda mine has officially been inaugurated in Chile. The first concentrate was produced earlier this year in July, but the opening ceremony was held earlier this month in the presence of government authorities of Chile, Poland and Japan. The project, which is a joint venture between Poland’s KGHM (55%) and Japan’s Sumitomo (45%), is expected to significantly enhance the global supply of copper and molybdenum.

Sierra Gorda is located in the Antofagasta region within the Atacama Desert, which is Chile’s largest copper producing region. Earlier this year key infrastructure elements for production of copper concentrates had been successfully completed and commissioned, including the pre-stripping process of the pit, where a total of 192 Mt of material was removed. The first shipment with approximately 6,000 t of copper concentrate is expected to arrive in the Toyo Smelter and Refinery in Japan in November 2014.

TVI Pacific and TVI’s Philippine affiliate, TVI Resource Development have announced that Agata Mining Ventures, a joint venture company in which TVIRD holds a 60% interest and is the operator, has completed its first shipment of high-iron/low nickel direct shipping ore (DSO) produced from the Agata project located in northern Mindanao, the Philippines.

Junior gold miners Doray Minerals Ltd and Mutiny Gold Ltd will merge in an all-share deal that values Mutiny at $36 million, to create a mid-tier gold producer in Western Australia. The merger will create a mid-tier gold company with complementary portfolio of high-grade production, development and exploration assets in Western Australia and greater financial strength.

The group will own the Andy Well project and the Deflector project in WA with combined production of 160,000 oz of gold equivalent/y from fiscal 2016.

Stratex International has announced that it has completed the formation of a new East and North African-focussed exploration and development company in partnership with Thani Emirates Resource Holdings. Stratex and Thani have now combined their assets in the region into a new company Thani Stratex Resources.

Christopher Hall, Stratex Non-Executive Chairman, said: “Stratex is very pleased to have closed this deal which combines its assets in Ethiopia and Djibouti with those of our joint venture partner in Egypt. Further exploration to evaluate the undoubted potential of our properties in the region was going to require significant funding beyond our own resources which was not a good fit with Stratex’s business model.  We have barely scratched the surface of a major new gold bearing province with a few tens of thousands of m of drilling.  By entering into partnership with Thani, with its experience and track record in the region, we have ensured that we do justice to this exciting portfolio of properties where we see a clear analogy with the rift-related, epithermal gold province in Argentina.  We also gain indirect exposure to Egypt where Centamin have demonstrated the geological potential through the development of the Sukhari mine, with in excess of 10 Moz of resource, and in time other jurisdictions in the region”.