Tight markets for consulting and engineering expertise

International Mining has for some months been reporting on tight markets for both consulting and engineering expertise. Now CIC Energy, developing the Mmamabula Energy Project in Botswana notes: “The EPC market globally has continued to tighten in the last few months, and the sponsors have concluded that it will be difficult to enter into a turnkey EPC contract for this large scale project on terms and conditions that, until recently, were accepted by EPC contractors and would have enabled this project to be financed on a non-recourse project finance basis.” A cautionary tale perhaps for some who have not secured the engineering they need. This latest issue of International Mining Project News also contains significant nickel news from a number of companies, like Mincor and Focus Minerals, working in the Kambalda area of Western Australia. Following the recent news of the +$9 billion Chinese investment in the DRC come details of CMEC anticipating investing $5 billion in the Bélinga iron ore mine in Gabon. Nearby, Rio Tinto has further strengthened its position within the iron ore industry with a 2,250 Mt addition to its global iron ore resource base – the Simandou project in Guinea. Rio has also provided details of two big copper projects – La Granja and Resolution. Among the new mines coming into production are Pan Australian Resources’ Phu Kham copper-gold operation in Laos, DiamonEx’s Lerala diamond mine in Botswana and Kinross Gold’s Kupol project in the Chukotka region of the Far Eastern Federal District of Russia.

Dragon Mining’s diamond core drilling program targeting the depth extensions of the Svartliden gold mine in Sweden has returned further high-grade intercepts including 4 m at 7.15 g/t Au and 6 m at 8.81 g/t Au.

In Western Greenland, the wholly owned subsidiary of Angus & Ross, a zinc/lead mining company focused on re-opening the Black Angel mine, Black Angel Mining, has been awarded a 30 year licence to mine zinc, lead and silver ore from the mine.

Eldorado Gold is in receipt of all permits and approvals necessary to construct its Efemçukuru mine in Turkey.

Australian nickel miner Mincor Resources has continued its run of exploration success in the Kambalda region, unveiling a potential new discovery at its operating Mariners nickel mine, as well as significant southwards extensions to the recently discovered NO9 orebody at Mariners.

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