This issue of International Mining Project News presents another expansive look at current developments in global mining projects – well over 40 pages. In this edition several New Players appear poised to appear with the biggest news being Severstal’s reported intention to list its gold division, valued at around $4 or $5 billion, sometime this year. Puget Ventures and Imperial Investment Holdings are combining forces to create a wholly new company with Russian cobalt assets while Batavia Mining, focussed on the Roper River iron ore project, has a name change.
In Australia TNG has received good news from the latest scoping study performed on its Mount Peake project encouraging the company to bring the project, which contains a JORC Inferred resource of 139 Mt, to a commercial conclusion. In the meantime the world’s second largest iron ore producer, Rio Tinto, and its JV partner Hancock Prospecting have awarded an EPCM contract for the Hope Downs 4 mine. Range River Gold are now thinking of expansion as it confirms a significant upgrade of its open pit resource potential at Mt Morgans.
Sundance has enlisted China Harbour Engineering with a MoU to help the Australian company advance its 35 Mt/y African iron ore project. JSC Polymetal has also entered into a Memorandum of Understanding – agreeing to acquire two Russian companies, for a consideration of shares, to gain expansive exploration licences. Elsewhere Arafura Resources has secured a “gateway to global rare earths markets”, for both the company and Australia, with the signing of an exclusivity deal – as well as securing the blessing of the South Australian Government.
Always on the look-out for a good investment Vale is exercising its right to purchase a controlling stake in a Mozambican rail company that will help Vale with the development of its 1,087 Mt Moatize coal project. Overcoming its financial obstacles American Manganese has reported good progress at its manganese project in Arizona and the company is almost ready to begin a PFS.
Mountain Province and De Beers Canada have received the final draft of an independent feasibility study on Gahcho Kué which confirms that the project, possibly the largest diamond project under development in the world, will soon be ready to move on to the next phase. With the completion of a BFS Republic Gold is able to start negotiations to find development finance for its Bolivian gold project and has already scoped out its next exploration targets.
Silvermex Resources is merging its business in an all share transaction to possess, as part of the combined company, a fully operational mine along with substantial silver reserves. Further south Hochschild Mining has received positive results from an independent PEA on its 30% owned Peruvian gold-silver project.
Dragon Mining will be delving underground at its Finnish gold mine with a local contractor and has already released the first results from trial underground RC drilling. Silver Standard is staying on surface with a NI 43-101 compliant preliminary assessment for an open pit mine predicting a mine life spanning decades.
US Gold has received positive drill results from its projects in the US and Mexico, including 4.56 g/t Au over 27.4 m, releasing its early findings from the Los Mautos prospect. Arian Silver has announced that its wholly owned silver mine is moving into production – opening a path to explore the remaining 90% of the mine. In Chile Exeter Resource has provided an updated mineral resource estimate for its 1,316 Mt (Measured and Indicated) gold-silver-copper project and revealed plans to investigate the project’s potential further. Struggling Bor have been thrown a European lifeline to save the company for the local environment’s sake as much as the economy’s.
Kangaroo Resources has attained the services of an experienced Australian mining consultant to help guide the young company to becoming a major Indonesian coal producer. IronClad Mining has ensured Wilcherry Hill’s iron ore sales with a comprehensive sales and marketing agreement that will see a steady flow of traffic between the Australian miner and Chinese steel mills. Murchison Metals is also finding success at the Jack Hills iron ore project with exploration revealing a substantial increase to its mineral resource estimate, including an increase to the project’s DSO.
All this and much, much more in International Mining’s Project News….
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