INTERNATIONAL MINING PROJECT NEWS issue 130 is the usual important and comprehensive fortnightly report on global projects, with about 60 pages of updates. It has new information on three projects each in diamonds, zinc and lead , four projects each in nickel and phosphate, six in silver, seven in coal, eight in uranium, 12 in copper, 18 in iron ore, 34 in gold and also reflects the ongoing interest in developing other high value niche commodity projects. As well as many projects reporting development decisions (36) and another 10 expansions, the issue has reports on 27 prefeasibility and 15 feasibility studies. Hecla Mining has approved the completion of the #4 Shaft Project at the Lucky Friday mine. Hecla also reported progress on its Star (Silver Valley – Idaho), Equity/Bulldog (San Juan Silver JV – Colorado) and Hugh Zone (San Sebastian – Mexico) pre-development projects and exploration efforts.
Terramin Australia announced a placement to China Non-Ferrous Metal Industry’s Foreign Engineering and Construction Co (NFC) that will fund initial programs for the Tala Hamza project. The definitive feasibility study concluded that a project can be developed on the Tala Hamza deposit using block cave mining and conventional processing. Tala Hamza is a significant project with potential to be one of the top ten zinc mines in the world based on annual production.
The British Columbia Mining Joint Venture (BCMJV), a 50:50 joint venture between Fluor Canada and AMEC Americas, reached a final agreement with Terrane Metals, a wholly-owned subsidiary of Thompson Creek Metals Co, to complete engineering, procurement and construction management (EPCM) for Terrane’s 100%-owned Mt. Milligan copper-gold project.
MDM Engineering has been awarded the feasibility study for a 2.4 Mt/y CIL gold plant to treat reclaimed tailings and current flotation rougher tailings for African Barrick Gold’s Bulyanhulu gold mine in Tanzania. ABG is the largest gold producer in Tanzania with a portfolio of four operating mines and is the operator and manager of Bulyanhulu mine, which is wholly owned by Bulyanhulu Gold Mine, a 100% owned subsidiary.
Randgold Resources boosted gold production for the three months to June by 33% quarter on quarter and 97% on the corresponding quarter in 2010 on the back of a record all-round performance and contributions from its new Tongon and Gounkoto mines.
Extract Resources has announced an updated reserve estimate for Zones 1 and 2 of its Husab uranium project in Namibia. Total ore tonnes within the reserve have increased by 37% to 280 Mt. Based on processing of 15 Mt/y, as envisaged in the Definitive Feasibility Study, this equates to a 20+ year mine life, once pre-strip and ramp-up phases are included.
IMX Resources announced a 139% increase to the Cairn Hill Phase 2 resource, located immediately east of the Cairn Hill iron-copper-gold mine, 55 km south-east of Coober Pedy, South Australia. The combined Indicated and Inferred mineral resource for the CHP2 area is 8.37 Mt at 46.7% Fe using a 35% Fe cut off grade.
Orocobre has awarded the detailed engineering contract for the Salar de Olaroz lithium-potash project to Sinclair Knight Merz. SKM has been involved in the Olaroz project for over a year and recently completed the engineering and cost estimates for the DFS for the production of 16,400 t/y of battery grade lithium carbonate.
Mindax’s Mt Forrest Iron Project is progressing through development with a view to moving toward mining phase. The company is putting in place necessary approvals and aligning infrastructure partners including rail and port.
Gindalbie Metals has signed some key agreements for the Karara iron ore project in Western Australia and first iron ore production from Crusader Resources’ 100% owned Posse Iron Ore Project in Brazil has moved a step closer following the submission of all the additional studies and government sign-offs requested by the licencing authority (SUPRAM).
Spur Ventures announced that the Central Ministry of Land and Resources in Beijing has formally approved the transfer of the mining licenses for the Shukongping and Dianziping phosphate deposits from Spur’s joint venture partner, Hubei Yichang Phosphate Chemical Co (YPCC) to Yichang Maple Leaf Chemicals (YMC).
Platinum Group Metals has entered into a mandate letter for a $260 million project finance loan to develop the Western Bushveld joint venture project, WBJV 1 platinum mine.
Toro Energy has a number of updates on its Wiluna uranium projects.
Castlemaine Goldfields is currently re-developing the Ballarat gold mine, with activities focused on underground mine development and gold processing plant re-commissioning such that first gold bullion production can be delivered on schedule in September this year.
African Minerals (AML) has signed final agreements with Shandong Iron & Steel Group Co (SISG). SISG has agreed to acquire a 25% shareholding in the mine, rail and port and power subsidiaries comprising the Tonkolili iron ore project in Sierra Leone.
Anglesey Mining now intends to focus more attention on its Parys Mountain project in North Wales, a base metals development asset that has significant potential.
Formation Metals has received and accepted a commitment from BNP Paribas for the financing of its 100% owned Idaho cobalt project (ICP).
All this and much, much more in the August 12 issue of International Mining Project News….
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