Latest issue of International Mining Project News available (October 24): As we are faced with constant reminders of a market downfall there is still evidence that companies are rising to this most daunting of challenges with investment in projects. One such example, which features four big Australian iron ore miners, is the Northwest Iron Ore Alliance; made up of Atlas Iron, FerrAus, Brockman Resources and BC Iron. The Alliance has appointed Chris Davis to the position of Project Director, to oversee the design and development of the Alliance’s port facilities and associated infrastructure in Port Hedland as well as managing the scoping study on the Port Hedland infrastructure development. Also at a meeting in Moscow this week between the FGU “State Commission on Mineral Reserves” (GKZ) and the global Committee for Mineral Reserves and International Reporting Standards (CRIRSCO), a breakthrough agreement was reached on alignment of the two reporting systems.
One company that is gaining finance in this climate is Albidon, who has received revenue from the Jinchuan Group for first sale of Ni-Cu-Co-PGM concentrate, from its Munali nickel project in Zambia. The company is also seeking to sell a parcel of low grade out of specification concentrate. Details of progression with its construction contract with GRD Minproc, as well as its current commissioning status are also included.
Gold is one metal that has, partly, withstood the recent financial turmoil, and Royal Standard Minerals, included in this issue, is reaping the rewards of this. The company has received back its latest shipment of gold concentrates to Metals Research, which has produced 257 oz of doré. This shipment will be stored at the processing facility along with a previous shipment, where it will remain until the company accumulates at least 1,000 oz doré. This is followed with news of test work conducted by Metcon Research which has achieved positive results.
Handini Resources has had successful off-take agreement news. It has agreed terms with Visa Comtrade, a member of India’s Visa Group of companies, and has successfully completed a A$3.4 million capital raising. Details of the agreement and also where this capital will be invested in its Indonesian coal project are featured. Turning to earlier stage developments, Cortona Resources has received an updated JORC compliant resource estimate for its 100%-owned Dargues Reef gold project in New South Wales. The company also has a scoping study underway and has plans to progress to a feasibility study shortly.
There is also mention of further developments on Atlas Iron’s Pardoo project in the Pilbara, Mercator Minerals’ Mineral Park moly-copper project in Arizona and the awarding of a contract by OMH Holdings for its manganese project, in addition to many others.
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