News

Highlights of International Mining Project News latest issue

Posted on 4 Apr 2016

Much more information is available in the issue – contact emma@im-mining.com for a sample copy. Kinross Gold is proceeding with the phase one expansion of its Tasiast mine in Mauritania. Phase one is expected to increase mill throughput capacity from the current 8,000 to 12,000 t/d, while significantly reducing Tasiast’s operating costs and increasing production.

TNG Ltd has reached agreement and signed a binding term sheet with the global commodities trader Gunvor (Singapore) for the life-of-mine off-take of iron products from its flagship 100%-owned Mount Peake vanadium-titanium-iron project in the Northern Territory.

Oracle Coalfields, the UK-based coal developer of a 1,400 Mt lignite resource located in the Thar Desert in the southeast of the Sindh Province, Pakistan announces that the Energy Department, Government of Sindh, Pakistan has issued a notification for the extension of the applicability of US$ based 20% IRR to all coal mining projects, based on indigenous Thar coal, to the companies which achieve Financial Close before December 31, 2016. The Government of Pakistan has enacted a number of fiscal incentives to encourage and accelerate the development of the substantial coal resources in Thar Desert.

Archer Exploration has completed a project study on the magnesite deposit at the 100% owned Mount Hutton magnesite project, which is part of the larger Leigh Creek magnesite project, located approximately 20 km northwest of Leigh Creek Township, South Australia.

Condor Gold has successfully re-negotiated the terms to acquire 100% of the Espinito Mendoza Concession in the heart of La India project, Nicaragua (gold).

Panoro Minerals and its wholly-owned subsidiary, Panoro Trading (Cayman) Ltd have entered into a definitive Early Deposit Precious Metals Purchase Agreement with Silver Wheaton in respect of the Cotabambas project (copper, gold and silver) located in Peru.

IMX Resources has received further positive test results confirming the outstanding expandability of the high-quality graphite produced at its Chilalo project in Tanzania.

Sierra Rutile has the results of its PFS for the Sembehun Dry Mine which is intended to extend the life and scope of operations at its fully-permitted Sembehun group of deposits.

Southern Silver Exploration Corp reports that Kirkham Geosystems has completed an independent Mineral Resource Estimate on the Cerro Las Minitas (silver) project in Durango State, Mexico. Electrum Global Holdings is financing a broad range of exploration activities to earn a 60% interest in CLM.

Monument Mining has filed a technical report describing the mineral resource estimate for the Matala gold project in the Democratic Republic of Congo, where Afrimines Resources through its wholly owned subsidiary, Regal Sud Kivu holds a 100% interest in the Matala project.

Plateau Uranium announced a maiden lithium mineral resource estimate within four of its uranium deposits located on the Macusani Plateau in the Puno District of southeast Peru.

Copper North Mining Corp updates on progress of metallurgical studies and engineering of the Carmacks copper-gold-silver deposit in Yukon. A new PEA is in progress and should be completed in early May 2016.

Excelsior Mining has filed a National Instrument 43-101 Technical Report dated effective January 28, 2016 on www.sedar.com. The report is with respect to Excelsior’s updated prefeasibility study on the Gunnison copper project in southern Arizona; the results of which were originally announced in a February 9, 2016 news release.

RTG Mining has the results from an independent feasibility study for 100% of the high grade Mabilo copper/gold project in southeast Luzon, Philippines.

Infill drilling at Morgans Underground, part of the Westralia prospect at Dacian Gold’s 100% owned Mt Morgans gold project in Western Australia, has returned more outstanding results.

Avenira Ltd continues to make steady progress on all key critical path items at the Baobab phosphate project in Senegal including mining, processing, infrastructure and water supply.

Focus Ventures Ltd continues to progress its Bayovar 12 phosphate project, located in the Sechura desert of northern Peru, and has proposed a private placement.

Lithium Americas Corp (LAC) has arranged a definitive agreement with Sociedad Química y Minera de Chile S.A. (SQM – the world’s largest lithium producer) to enter into a 50/50 joint venture on the Cauchari-Olaroz lithium project in Jujuy, Argentina.

Poseidon Nickel has the final results of the successful Emily Ann North extension drill program which intersected significant nickel sulphide mineralisation in all three diamond drill holes spanning a zone of almost 50 m wide.

Magnetite Mines has sent 4 t of ore (from drill cuttings) Bureau Veritas Laboratories in Perth to further refine the flow sheet for the development of the company’s large magnetite resources in the Mawson Iron Province of South Australia.

Amur Minerals, a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, has completed the construction of its 2016 winter ice road from the Baikal – Amur rail siding to its Kun-Manie project and begun the restocking of project for its 2016 field program.

IAMGOLD Corp, during the first quarter of 2016, issued flow-through shares to fund the development of its Westwood mine and sold its investment holding of gold bullion.

Jubilee Platinum completes full project funding for the simultaneous execution of its two surface platinum-processing projects. The chromite recovery section of the first processing project has been commissioned and is fully operational. Jubilee’s second processing project is on track with all long lead items secured.

Shanta Gold, the East Africa-focused gold producer, developer and explorer, has received $9.1 million financing from Bank M Tanzania for the construction of its 7.5 MW power station at the New Luika gold mine (NLGM) located in the Lupa Goldfield in southwest Tanzania.

Cyprium Mining intends to complete, on or about April 1, 2016, a private placement, for gross proceeds of up to $520,000, which will help fund the continued activities at the Potosi silver mine located in Northern Mexico.

Dynacor Gold Mines, gold explorer and producer, announced that the construction of its 300 t/d processing plant, Veta Dorada located in the Chala area, Arequipa, is currently 90% complete and expects to finish it this April.

Tango Mining has announced a deal with California-based lender Vanderbilt Commercial Lending for a $30 million loan to fund the acquisition and provide the capital required to restart the BK11 kimberlite diamond mine in Botswana.

Scotgold Resources has reached a “significant milestone” in its quest to restart mining at its high-grade Cononish gold and silver project at Tyndrum in Scotland.

Pershing Gold has closed on a private placement with Donald Smith Value Fund, for net proceeds to the company of approximately $6 million. Pershing Gold expects to use the net proceeds for advancement of the company’s Relief Canyon project in Nevada and for general corporate purposes.

The Board of OreCorp has announced the maiden JORC 2012 compliant Mineral Resource Estimate on the Nyanzaga project in Tanzania of 21.3 Mt at 4.1g/t Au.

Kootenay Silver has signed an agreement with Coeur Capital to acquire its 2.5% net smelter return royalty (NSR) on future production from Northair Silver Corp’s La Cigarra project, located in Chihuahua, Mexico.

Elcora Advanced Materials Corp, Northern Graphite Corp, Nouveau Monde Mining Enterprises, Metals of Africa Ltd, Coulometrics and a private industry partner are jointly acquiring a micronising and spheronising mill to produce spherical graphite (SPG), a critical step in the production of anode material used in lithium ion batteries (LIBs).

Keras Resources, the Australian gold development company, is pleased to announce that it has commenced ore mining under its bulk sample permit at the Anomaly 22 deposit, which is located in the Grants Patch Gold Tribute lease area and lies 30 km north of Kalgoorlie in Western Australian goldfields.

Compañía Minera Raura SA, operator of the Raura polymetallic mine, located in the district of San Miguel de Cauri, province of Lauricocha, Huánuco, Peru has announced a major expansion of its mineral resources and reserves.

Kidman Resources continues to extend the known mineralisation at its Burbanks gold project with more high-grade drilling results from several key lodes.

Jaguar Mining has acquired a new, highly strategic Mineral Exploration License area adjacent to its 100% owned Pilar Mining Concession Block where it is currently producing gold from its Pilar mine in Brazil.

Komet Resources announces a newly completed resources estimate on the Guiro gold vein. The Guiro vein, currently in production by Komet, is located in the southern half of the Guiro-Diouga mining license covering 65 km2 in northern Burkina Faso and 100 % owned by the company.

Strongbow Exploration has reached an agreement whereby Strongbow has the right to acquire, from administration, a 100% interest in the South Crofty tin project and associated mineral rights in Cornwall, UK.

Texas Rare Earth Resources (TRER), an exploration company targeting the heavy rare earths and a variety of other high-value elements and industrial minerals, has changed its corporate name to Texas Mineral Resources Corp.

Western Lithium USA Corp has changed its corporate name to Lithium Americas Corp, and its wholly owned subsidiary, Western Lithium Corp, to Lithium Nevada Corp.