In this monster Christmas issue of International Mining Project News mining companies around the world have been preparing for post-festive activities. At the worldclass Oyu Tolgoi project, in Mongolia, Rio Tinto and Ivanhoe Mines have signed a new agreement to help secure development of the copper-gold project six months ahead of schedule. The companies have approved $2.3 billion for a peak year of construction activity in 2011, in order to reach production by 2012, with measures to improve production capacity by up to 60% from the initial 100,000 t/d. Elsewhere, Stans Energy is preparing a feasibility study on the only past-producing Heavy Rare Earth Elements mine in the world, outside of China, following the final results of its resampling program at its Kutessay II project in Kyrgystan.Another project in Pilbara could be due a revised mineral resource estimate as Venturex Resources’ Mons Cupri deposit has revealed the potential for significant additions to Venturex’s Pilbara VMS project’s 7.6 Mt resource inventory. RC drilling at the copper-zinc deposit, one of four that form Venturex’s wholly owned Pilbara project, has indicated a total strike length of up to 600 m with grades as high as 4.15% Cu. Yet again Northern Star has increased the known depth of its Voyager 1 lode, with drilling results grading as high as 98 g/t, to at least 600 m at the Paulsens gold mine. With resources also being discovered at the Voyager 2 lode the company appears to have found a bargain in the Australian project and has already begun Stage two developments to reach even greater profit margins.

Peel Exploration has announced a maiden resource estimate for its Apollo Hill and Ra gold deposits in Western Australia. Combined the deposits have a resource estimate of over 340,000 oz Au but Peel believe that there is plenty more to discover and are planning an extensive exploration program, along with a preliminary scoping study and test work, in the hope that it can add more value to the project. Copper Development Corp has been admitted onto AIM following a $40 million fund raising aimed at developing its Hinoba’an copper project in the Philippines. The proposed open pit contains over 700,000 t Cu and will now be put through an accelerated development program.

In Indonesia Kangaroo Resources has purchased the final 15% of the now wholly owned Mamahak coking coal project,  the company now has eight advanced coal projects in the East Kalimantan area, and plans to ramp up production capacity to 50,000 t/month into 2011. Central Asia Resources is looking to raise A$1.3 million through the placement of over 40 million shares. The company intends to use the funds for its Dalabai gold-silver project as well as for an independent review of the Bizhe licence area, only two out of six tenement areas that Central Asia holds in Kazakhstan.

Sandfire Resources has received two early Christmas presents with the grant of a mining lease, at its DeGrussa copper-gold project, and the completion of the retail component of its $103 million equity raising. With about $135 million in the bank, and the green light from Australian officials, the company is ready to begin the new year with a DFS, underground mining and the construction of a 1.5 Mt/y processing facility. Sandfire are expecting to produce DSO from its open pit deposits before the end of 2011. Alcyone Resources has received firm commitments to raise roughly $11.2 million, through a share placement, that the company intends to use to drive its Twin Hills silver project forward. The company expect strong operating margins from the 1.5-2 Moz/y heap leach project and are currently hard at work finalising an updated resource estimate for both the Twin Hills and Mount Gunyan areas, both part of Alcyone’s wholly owned Texas silver and polymetallic project in Queensland.

Brockman Resources has advanced negotiations with Fortescue Metals in an agreement for end to end rail haulage, port access and marketing services at its Marillana project in Western Australia. Although Brockman has been “highly encouraged” with the negotiations the key principles, for a binding Heads of Agreement, are still under discussion. If successfully concluded the agreement would help Brockman complete a BFS on the iron ore project and reach a final investment decision before the end of quarter 3 next year.

Marengo Mining will be expecting a happy new year with the closure of a best efforts offering, bringing total proceeds of C$63.25 million, leaving the company fully funded to advance exploration, permitting and reconstruction at its Yandera project in Papua New Guinea. Armed with results from a three year long DFS, due before the start of 2011, the company hope to soon start developing a large-scale, long-life, operation at Yandera that will eventually reach a production rate of 50 Mt/y. Current plans will see Yandera concentrate hitting the market in 2013/14.

In Canada Overland Resources has received final analytical results, from the last nine drill holes made at its Darcy zinc deposit and its Darin prospect, within Overland’s Yukon base metal project to cap a fruitful 2010 exploration and diamond drilling program. The results have confirmed potential for a larger, longer life, mining operation that would benefit from reduced operating costs. Caledon Resources has announced a 256% increase to its coal resource estimate at its Minyango project in the Bowen Basin while Puget Ventures has changed its name to Global Cobalt with the acquisition of several worldclass assets in Russia and Mongolia.

All this and much, much more in International Mining’s Project News….

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