Latest issue of International Mining Project News available (July 31): A particularly busy fortnight with a very substantial amount of good news to report. Yamana Gold has made some significant announcements starting with it declaring commercial production at its Gualcamayo mine in Argentina effective July 1, 2009. Expected commercial production for 2009 is some 75,000 oz of gold. Yamana has also has made construction decisions for the development of its C1 Santa Luz project in Brazil and its Mercedes project in Mexico. At C1 Santa Luz (open pit) average production will be 104,000 oz/y over an initial mine life of 10 years. At Mercedes (underground), average production will be 120,000 oz/y gold equivalent over an initial mine life of six years.
Quadra Mining has completed a scoping study for its 100%-owned Sierra Gorda project in Chile, supporting an open pit and concentrator operation processing 111,000 t/d of mill feed and producing between 250 and 400 Mlb/y of copper over a 25 year mine life at an average cash cost of $0.79/lb. The project would also have significant molybdenum production, averaging 33 Mlb/y over the first eight years.
Important news for the fertiliser sector came from prefeasibility studies in Canada and Namibia. Potash One is committed to developing its Legacy project in Saskatchewan’s potash-rich basin near Regina and Esterhazy, Canada. The design production criterion of this prefeasibility study is a production rate of 2.5 Mt/y of standard potash product. Minemakers says “resource increases at the Namibian marine phosphate deposits reveal world class status.”
Selwyn Resources is advancing the Selwyn project towards bankable feasibility and development. Selwyn has spent an aggregate C$57 million during the period from July 2005 to present in establishing the Selwyn project as one of the world’s largest undeveloped zinc-lead deposits.
In gold, Greystar Resources has purchased the final surface rights required for the envisioned mine development of its wholly-owned, multimillion ounce Angostura gold-silver deposit in northeast Colombia. Development of Randgold Resources’ new gold mine at Tongon in the Côte d’Ivoire is on track for first production in the fourth quarter of 2010, Chief Executive Mark Bristow said. Moto Goldmines reports that the potential of the huge Moto gold project in the Democratic Republic of Congo continues to grow.
Augusta Resource Corp has signed an agreement for the purchase of 23, 250-t Caterpillar 793F haulage trucks for its 100%-owned Rosemont copper project in southern Arizona. There is also news of TNG’s initial scoping study at its Mount Peake vanadium project in the Northern Territory of Western Australia. The study was based on the company’s maiden Inferred resource of 107 Mt at 0.32% V2O5, 5.9% TiO2 and 29% Fe.
News from China includes Zhonghui Mining Group planning to invest about $3.6 billion in copper exploration and mining in Zambia, reflecting growing Chinese interest in the country’s mineral wealth. Xiyang Group plans to develop a major Russian iron ore mine from April 2010. The mine, located in Chita, in south-eastern Siberia and near China, has Proven reserves of 747 Mt and potential resources of more than 1,000 Mt. China Shenhua Energy Co expects to invest $5.27 billion over the next five years to expand coal production capacity in Xinjiang Uygur Autonomous Region. CSEC’s President Zhang Yuzhuo said the company plans to increase its coal production capacity in Xinjiang to more than 60 Mt by 2014.
This is followed by reports of many other projects in this bumper edition. To receive the full 45+ 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.