The latest issue of International Mining Project News, out today, has reports on 31 prefeasibility studies, 12 feasibility studies, 33 projects in development, eight new mines that have gone into production, six existing mines that are expanding, seven merger and acquisition announcements and many new appointments to new positions. The report covers 34 gold projects, 18 copper, 17 silver projects, 10 iron ore, seven coal projects, four uranium, rare earths, and zinc projects, three tungsten and nickel projects, two projects on graphite, molybdenum, lithium, diamonds and lead, and one project each on anorthosite, manganese, cobalt, sulphur, niobium, tin, potash, vanadium, titanium, phosphate, mineral sands, ferro alloys and PGMs. [email protected] for a trial copy.
There are results for Hummingbird Resources PEA on its Dugbe 1 gold project in Liberia. Results indicated that on an owner managed basis such a mine will require initial capital of $212 million which will be paid back after three years of production and for the first five years of life, will have an operating cash cost of $759/oz. Dan Betts, CEO, said: “The completion of the company’s PEA is a significant milestone for Hummingbird Resources and shows that the Tuzon and Dugbe ore bodies make a compelling case for a stand-alone mine with an attractive financial return. The economics can only be strengthened with our nearby Sackor discovery and the potential to discover additional gold resources on our extensive acreage are also taken into account.”
There have been increases and upgrades of mineral resource prospects at Loncor Resources Ngayu gold project, DRC. President and CEO of Loncor Resources said “We are very encouraged by this increase in total mineral resources as well as upgrading over 600,000 ounces into the indicated category. The good continuity along strike and at depth bode well for a potential underground mining operation and we are currently undertaking a PEA of this resource to assess its potential economic viability. This includes additional metallurgical test work, mining and infrastructural studies, capital and operating costs and preliminary environmental considerations. The gold grades outlined to date have the potential to deliver an economic operation with competitive gold production and operating costs.”
Anatolia Energy has completed an aquifer pumping test program at its advanced uranium exploration Temrezli project in the Central Anatolia district, Turkey. Preliminary modelling by HydroSolutions using the aquifer parameters developed from these test results indicated similar values to the Northern Powder River Basin in Wyoming, confirming solution mining viability of the Temrezli projects. Managing Director of Anatolia Energy said “We are pleased that the results from our hydro test work support the idea that solution mining appears a feasible process for our Temrezli uranium deposit.” Further hydro testing will be done in future drilling programmes to develop a greater understanding of the deposit and complete the preliminary feasibility study.
Rainy River Resources has received a positive FS for its 100% owned Rainy River gold project in north western Ontario, Canada. The feasibility study indicated silver mineral reserves of 4.0 Moz proven and 10.3 Moz of probable, and an average underground grade of 5.07 g/t Au.Raymond Threlkeld, President and CEO, stated: “With the release of the Rainy River gold project feasibility study, we are transitioning to the mine development stage of Canada’s newest gold district. The FS outlines an outstanding project, located in one of the best mining jurisdictions in the world, conveniently surrounded by infrastructure, and with tremendous exploration potential. By continuing to focus on our strategy of delivering a project with the lowest risk to our shareholders and the strongest internal rate of return, we have developed a plan with high production rates, low cash and “all-in” costs and strong margins.”
There has been a positive FS for Avalon Rare Metals’ Nechalacho rare earth elements project, and is the first feasibility level study to be completed on a major heavy rare earth project outside of China. The FS confirms the project to be technically feasible and economically robust. Don Bubar, President and CEO stated: “We are very pleased to have delivered a positive FS for the Nechalacho project within the budget and the schedule we set for ourselves in May, 2012. The robust economics, despite a substantial CAPEX burden, testify to the exceptional quality of the Nechalacho deposit and its large size offers the potential for creating a scalable, multi-generational business. The successful completion of this study confirms Nechalacho’s status as the most advanced major heavy rare earth element project in the world outside China. With the FS in hand, we can now accelerate the process of securing commitments on future product sales and attracting financial partners to participate in the further development of the project.”
The Keysbrook mineral sand project in Western Australia owned by MZI Resources has secured the remaining landowner agreements required to start development. The completion of these agreements continue the achievement of project milestones as MZI moves closer to finalising its financing arrangements for Keysbrook, including the debt facilities currently being negotiated with two leading banks. MZI Resources CEO, Trevor Matthews said “This project has a short construction period compared with most resource projects and with the key agreements either finalised or very close to completion; Keysbrook is now only about a year away from generating substantial cashflow for the company and its shareholders.”
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. There is much more useful information in this 50+ page newsletter.