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. [email protected] for details/free trial. This issue has reports on 17 prefeasibility studies, 14 feasibility studies, 30 projects in development, three new mines that have gone into production, ten existing operations that are expanding, seven merger and acquisition announcements and many new appointments to new positions. The report covers 32 gold projects, 20 copper, eight silver projects, seven zinc and iron ore, six projects on rare earth elements and coal, five uranium, four zircon, three lead, ilmenite rutile, vanadium, PGMs and marble projects, and one project each on diamonds, nickel, monazite, molybdenum, alumina, lithium, potash, leucoxene, cobalt and titanium.
Stillwater Mining expects first production from its Graham Creek project at the East Boulder mine in late 2014, with the project expected to increase total company production by about 30,000 oz/y from 2015 and thereafter. In addition, Stillwater is initiating development of the Far West project, a new as yet undeveloped mining area with attractive ore grades situated within the Stillwater mine. Once in operation, the Far West area is expected to increase the Stillwater Mine’s production by approximately 20,000 oz initially in 2016, growing to some 45,000 oz in 2017 and thereafter. With Graham Creek and Far West both on line in 2017, estimated annual company production from the Montana operations should total approximately 575,000 oz. Beyond 2017, when the Blitz project comes fully online, estimated annual company production from the Montana operations should total at least 600,000 oz. The company expects to gain more clarity on the ultimate production potential of the Blitz project as development there proceeds further.
A new, independent review of drilling results by AMEC has more than doubled the current estimated Indicated Mineral Resources at Ivanplats’ Kamoa copper discovery in the Democratic Republic of Congo. The new estimate increases Kamoa’s Indicated Mineral Resources to a total of 739 Mt grading 2.67% Cu, containing 43.5 billion pounds of copper — an increase of 115% over the previous September 2011 estimate of 348 Mt. Both estimates used a 1% Cu cutoff grade and a minimum vertical mining thickness of 3 m.
Sinclair Knight Merz (SKM) has been awarded the prefeasibility study of Minera Antamina’s Production Optimisation Program (POP) in Peru. The study includes the materials handling (primary crushing) and transport of waste material and mineral, water management systems, and tunnels. It includes a first stage of trade-off studies and a second stage of prefeasibility development of the selected alternative.
Gunson Resources reports that environmental baseline surveys along the proposed lateral gas pipeline route for the Coburn zircon project have been completed and reports submitted to State government regulators. No major environmental issues were identified by the baseline surveys and their completion gives added confidence that the 15-month delivery period estimated in last year’s Front End Engineering Design (FEED) study can be met. The reserves are sufficient to support a mine life of 17.5 years at a mining rate of 2,200 t/h of ore or 17.5 Mt/y. Approximately 67% of the revenue from the proposed mine is from zircon.
Altona Mining has been informed by Mt Isa Mines that it will not exercise its option to purchase the RFP sale interest at Roseby. Managing Director, Dr Alistair Cowden: “Now that the uncertainty of the Xstrata Copper option is resolved, the company is able to move forward to realise value from the project. Altona and its advisors will now progress options for the partnering, financing and development of the project. It includes a fully permitted 39,000 t/y copper development project at Little Eva which has been subject to a DFS, an additional 840,000 t of copper in resources which have yet to have a study undertaken and 1,400 km2 of tenure with excellent potential for further discovery of copper, gold, zinc and uranium.”
Luiri Gold has completed the Dunrobin feasibility study which confirms a technically feasible and economically robust project with an ungeared IRR of 37% and NPV (at 7.5% real discount rate) of $24.9 million. Gold production is forecast to be 85,000 oz over an eight-year mine life with initial capex of $20 million and cash costs of $790/oz. Dunrobin is ready for development and negotiations with debt financiers are underway.
The Coal Authority, sponsored by the UK Department of Energy & Climate Change, has awarded Cluff Natural Resources (CNR), an investing company founded by natural reources entrepeneur Algy Cluff which focuses on investing in global oil and gas and mining assets, two Conditional Underground Coal Gasification (UCG) Licences, Option for Lease and non-exclusive Exploration Licences for two UCG prospects in the UK. These acquisitions are part of CNR’s strategy to build a portfolio of assets in the natural resources sector.
Within its coal operations for 2013, CONSOL anticipates investing $318 million for maintenance-of-production projects. Other major items include $166 million for the BMX mine, as well as $80 million for the Enlow Fork overland belt project. The BMX mine is scheduled for completion during the first quarter of 2014, when 5 Mt/y of high-quality Pittsburgh seam coal will be available to be sold in either the high-vol or thermal markets.
The Ethiopian Ministry of Mines has completed its review of the DFS for the development of the first mining operation at Nyota Minerals’ flagship Tulu Kapi gold project, including the Environmental and Social Impact Assessment (ESIA), and has confirmed in writing that it complies with all regulations and satisfies the requirements for the issuance of a large scale Mining Licence.
Astur Gold is developing its 100% owned Salave gold project in Asturias, northern Spain, which is one of the largest undeveloped gold deposits in Western Europe. It recently received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012 and is completing additional requirements for the processing plant and tailings licenses with expected completion in H1 2013. An underground mining plan using pressure oxidation (POX) processing has an estimated pre-tax NPV5% of $391 million, IRR of 46%, and capital expenditure payback of 2.2 years using $1,100/oz gold price.
Image Resources has a 10.5 Mt JORC Measured and Indicated Resource at Boonanarring as part of 52.9 Mt overall in the North Perth Basin. Resource upgrades are expected to bring the Boonanarring deposit alone to 15-25 Mt depending on the cutoff grade used. The North Perth Basin project contains a high grade resource, with the majority on cleared freehold farmland. Infrastructure in the area is excellent with the Brand Highway, power and gas lines all crossing the project area. Image plans to construct a 3.3 Mt/y single mine and wet plant operation at Boonanarring with production to commence in 2014.
Mansfield Minerals has changed its name to Goldrock Mines Corp and is pursuing a long-term objective to become an annual 250,000 oz gold producer. Its Lindero heap leach gold project feasibility study is due for completion in the first quarter of 2013. The 100% owned Lindero deposit is located in Salta Province, Argentina. Goldrock has been granted the environmental permit by the Salta Provincial Government allowing it to develop the Lindero open pit, heap leach gold mine. This is the primary permit required for project development. Kappes Cassiday and Associates is the lead consultant, working in collaboration with AMEC and Mine Development Associates to produce the full feasibility study.
There’s much more information in the 50 page report.