The latest issue of International Mining Project News is now available. This fortnightly project watch is a great way of keeping up to date with your peers – other mining companies, other consultants or other engineering companies. These issues build into a global mine project overview. If you are a supplier – it is full of potential sales leads. Contact [email protected] for more details and a free trial. This issue has reports on 24 prefeasibility studies, 17 feasibility studies, 43 projects in development, five new mines that have gone into production, four existing mines that are expanding, seven merger and acquisition announcements and many new appointments to new positions.
The report covers 33 gold projects, 20 copper, 12 iron ore, nine silver projects, seven coal, six zinc, five uranium projects, three projects on rare earths, phosphate, lithium, nickel and molybdenum, two projects on diamonds, lead, ruby, tungsten, zircon, ilmenite and rutile and one project each on precious metals, base metals, potash, bauxite, magnetite, andalusite, marble, mineral sands, emerald, beryl, amethyst, tin, leucoxene, chrome and platinum group metals. This fortnightly project watch is a great way of keeping up to date with your peers – other mining companies, other consultants or other engineering companies. These issues build into a global mine project overview. If you are a supplier – it is full of potential sales leads. The following are just some of the projects covered in this edition.
Inmet Mining subsidiary Minera Panama S.A. (MPSA) has selected Joint Venture Panama, a joint venture led by the mining and metallurgy division of SNC-Lavalin with partners GyM S.A. and Techint International Construction, to proceed with detailed engineering, procurement and construction of its process plant. This engagement will be performed in two phases. Under the first phase, JVP has been instructed to proceed with detailed engineering and procurement services.European Uranium Resources is embarked on a feasibility study for its high-grade Kuriskova uranium deposit in Slovakia. The deposit is one of the world’s highest grade undeveloped uranium deposits at a grade of 0.555% U3O8. A preliminary feasibility study demonstrates that Kuriskova could be one of the lowest cost uranium producers in the world.
PMI Gold has completed its previously announced public offering, resulting in total gross proceeds to the company of C$115,002,300. It plans to use the net proceeds to fund the development of its Obotan gold project in accordance with its feasibility study, for Ghana exploration activities and for general and administrative expenses.
Harry Winston Diamond Corp is purchasing BHP Billiton Canada, and various affiliates to purchase all of BHP Billiton’s diamond assets, including its controlling interest in the Ekati diamond mine as well as the associated diamond sorting and sales facilities in Yellowknife, Northwest Territories and Antwerp, Belgium.
The South Australian Government has granted an extension to the indenture for BHP Billiton to expand Olympic Dam. Approval of the expansion has been extended until October 2016. BHP Billiton has commited to spend more than A$650 million over the next four years at Olympic Dam and on research and community initiatives within the State, making it one of the State’s largest employers.
Blackthorn Resources is progressing well with the construction, mine development and processing plant activities at the Perkoa project in Burkina Faso. Concentrate should be produced before the end of the year.
Orocobre has commenced construction at its fully-funded Olaroz lithium project in northwest Argentina. A groundbreaking celebration was held to celebrate the event. On completion of construction of the $229 million lithium project in early 2014, it will be the world’s first large-scale, low cost ‘greenfield’ brine lithium operation to have been built in nearly 20 years and will have a first-phase design production rate of 17,500 t/y of battery grade lithium carbonate.
CITIC Pacific reports that load commissioning of the first production line and the common facilities of its Sino Iron project in Western Australia has been achieved and the concentrator plant has begun to produce iron ore concentrate. This is a significant milestone for the project as it means magnetite ore can now be processed from the primary crusher through the grinding mills. The concentrate can then be transported via a 30-km slurry pipeline to the stockpile at the port. The next stage is fine tuning the process and accumulating a sufficient amount of iron ore concentrate for stockpiling before being shipped. The first shipment is expected in early 2013.
Gindalbie Metals has welcomed a commitment by Western Australia Premier Colin Barnett to reduce royalty rates during the start-up phase of magnetite projects, saying it would be a significant boost for the State’s fledgling magnetite industry. Gindalbie and its partner Ansteel have developed the first magnetite project in WA’s Midwest region, the A$2.57 billion Karara project, which is currently ramping up towards its Stage 1 production rate of 8 Mt/y. A feasibility study is currently underway on a Stage 2 expansion to double production to 16 Mt/y, which would require a further significant capital investment.
General Moly has received a Record of Decision authorising development of the Mt. Hope project in Eureka County, Nevada. The company expects to move “aggressively from a successful permitting process, to finalising project financing, and initiating the construction and development of Mt. Hope.” It is a large-scale, high-grade project with 1,300 Mlb of molybdenum in Proven and Probable reserves. Over the first five years of operations, Mt. Hope is expected to supply annual production of some 40 Mlb with process grades of 0.1% Mo. The engineering design is over 60% complete.
True North Gems has signed a Letter of Intent with Greenland Mining Services A/S (GMS). Under this agreement GMS will provide the majority of capital costs to become a 20% shareholder in True North Gems Greenland (TNGG), a wholly owned subsidiary of the company and titleholder of the Aappaluttoq ruby project. GMS is predominantly owned by international arctic contractor Leonhard Nilsen & Sonner A/S (LNS) of Norway.
The UK’s first gold mine in decades is getting closer. Infill drilling at Cononish has increased Scotgold Resources’ Measured and Indicated Resources to 82,600 oz.
Afferro Mining provided an update on operations at its 100% owned Nkout project in Cameroon. The company is continuing its program of exploration for further potential direct shipping ore (DSO) zones. Nkout comprises an NI 43-101 compliant Indicated mineral resource estimate of 1,190 Mt at 32.9% Fe and an Inferred mineral resource estimate of 1,330 Mt at 30.3% Fe. Afferro’s cash position at the end of Q2, 2012 of $51 million, leaves it well placed for the medium-term funding of its projects.
Mantle Mining and Exergen are raising money to support development of their Pre-Commercial Demonstration Plant (PCDP). Each holds a 50% interest in the Bacchus Marsh Brown Coal Upgrade and Export Joint Venture (JVA). Exergen has developed a highly efficient coal dewatering process that upgrades low rank coal into higher value thermal coal in an environmentally friendly process. The process, called Continuous Hydrothermal De-watering (CHTD), has been proven and independently verified at pilot plant scale.