In the latest issue of International Mining Project News Konkola Copper Mines (KCM) has unveiled $89 million plans for two additional copper ore treatment plants which will form part of KCM’s plans to raise 2012 output to 400,000 t/y. The company, owned by Vedanta Resources, hopes to have other copper treatment plants with a 6 Mt/y capacity commissioned by September this year and plans to invest $1 billion in the next three to four years in its bid to become a major global copper producer. Infrastructure construction activities have started at the Detour Lake gold project in northeast Ontario. Detour Gold describes the project as Canada’s largest pure gold play with gold reserves of 11.4 Moz. The feasibility study suggests an average annual gold production of some 649,000 oz at cash operating costs of $437/oz.

Inmet Mining and Lundin Mining have agreed to merge together in order to create Symterra Corp. The $9 billion transaction would, amongst other things, diversify Symterra’s production base as well as giving Symterra two world class copper projects that could, from the development of Cobre Panama and expansions at Tenke Fungurume, produce over 500,000 t/y of copper by 2017. In the Kyrgyz Republic, Stans Energy has reached agreement with the majority owners of the Kyrgyz Chemical Metallurgical Plant (KCMP) to buy KCMP’s rare earth processing complex, complete with private railway, for $5.5 million. For almost thirty years this complex produced 80% of the former Soviet Union’s rare earth products, including material from the Kutessay II mine which is now wholly owned by Stans Energy, and so should prove to be a useful investment for the Canadian company.

In Australia Northern Star Resources appear to have retained its golden touch as drilling continues to increase and extend the known depth of the Voyager 1 lode to at least 640 m below surface. Along with the company’s Voyager 2 discoveries the drill results appear to confirm a longer life at Paulsens gold mine than was previously thought. Avalon Minerals is currently raising up to A$10.4 million to fund its drilling program and BFS at the company’s Viscaria project in Sweden. The company believes that further exploration at the project will drive the current 66 Mt resource above 100 Mt and hope to begin production of copper and iron ore concentrates by 2013. Alexis Minerals has made former Golden Goose President and CEO, François Perron, its President and CEO as the company approaches mid-tier gold production levels.  

In Mexico US Gold has received encouraging drill results from its El Gallo project with several Au-Ag veins being discovered with intersections such as 1, 325.1 g/t Ag over 1.2 m and 273.6 g/t Ag over 10.5 m. Metanor Resources has had its hopes confirmed with the results of a positive PFS that supports the company’s 60,000 oz/y Au production plan at its wholly owned Canadian gold project.

Vista Gold’s Mt. Todd project reserves have been increased by 103% with the results of a recently competed PFS estimating 4.1 (contained) Moz Au and a 240,000 t/y production rate. Another Australian company, Deep Yellow, has received encouraging interim PFS results at its Namibian uranium project that support a 1,000 t/y production rate over a minimum 12 year mine life. In Europe Tournigan Energy has reported impressively high recoveries of both uranium and molybdenum from metallurgical test work at its Slovakian Kuriskova deposit.

All this and much, much more in International Mining’s Project News…. To receive the full 30+ 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.