INTERNATIONAL MINING PROJECT NEWS issue 131 is the usual important and comprehensive fortnightly report on global projects, with some 70 pages of updates. It has new information on 26 prefeasibility, 20 feasibility studies, news of 39 projects in development, two that have achieved production, nine expansions and news of a dozen mergers, acquisitions or IPOs. And scores of new appointments – contact details for the people who make the projects happen. A $1.3 billion project to expand the Cerrejón thermal coal mine in Colombia has been approved by Cerrejón’s three equal shareholders. Cerrejón is an incorporated joint venture owned in equal shares by Xstrata Coal (33.3%), BHP Billiton (33.3%) and Anglo American (33.3%). Minera Antofagasta Minerals S.A. (AMSA), is embarking on a prefeasibility study for a projected further expansion of production from its open-pit copper and molybdenum deposit Los Pelambres located in the Coquimbo Mountain Range, 240 km north of Santiago.
Commissioning of Perseus Mining’s Central Ashanti gold project (CAGP) plant in Ghana is progressing on schedule. A major milestone was achieved on Tuesday 9 August 2011 when the SAG mill commenced processing ore and first gold production is expected within a week, in line with expectations of first gold in the third quarter of 2011.
Blackthorn Resources provided initial assay results received from the first three of the 14 drill hole program completed at the Perkoa JV project in Burkina Faso. The target drilling area is situated immediately along strike of the Perkoa deposit, currently being developed as a zinc mine and being managed and operated by JV partner Glencore International (50.1%) (Blackthorn Resources 39.9%). The high-grade Perkoa mine is currently under construction and targeting full production in second half of 2012.
Kazakhmys has approved the development of the major copper growth project at Bozshakol, following the successful completion of its feasibility study.
Mountain Province Diamonds announced that after receiving unsolicited expressions of interest from third parties it has decided to cease discussions and other engagement with those third parties in order to focus management’s attention on the following key activities: the permitting of the Gahcho Kué project (world’s highest grade diamond project), arranging Mountain Province’s share of the financing for the first mine at Gahcho Kué, advancing the Tuzo Deep drill program at Gahcho Kué and exploration at the company’s 100% controlled Kennady North project.
Victory Nickel has been granted the licence for the construction, operation and subsequent decommissioning of the 100%-owned Minago Sulphide Nickel Project in central Manitoba. Mine development can begin this winter.
Hana Mining continues to announce exciting results from its developing Ghanzi sediment-hosted Copper-Silver project in Botswana. And Discovery Metals has reported an upgrade of the mineral resources at the Zeta Deposit, following re‐estimation by Snowden Mining Industry Consultants, which includes recent infill drilling results. Brad Sampson, Managing Director: “This upgrade of the Zeta Mineral Resources is another important step towards the completion of the Definitive Feasibility Study for development of an underground mine at Zeta and further increases confidence in the mineral resources planned for open pit mining, which is expected to commence later this year.”
Silvercorp Metals’ 77.5% owned subsidiary, Henan Found Mining, has signed a share purchase agreement to acquire a 90% equity interest in Zhongxing Mining and Chuanxin Mining, two local private mining companies, with common owners, in Luoyang City, Henan Province, China.
Ivanhoe Mines has announced that the recent start of pre-stripping of the open-pit that will mine the gold-rich Southern Oyu and Central Oyu deposits serves to underscore the early gold production potential of the company’s Oyu Tolgoi project in southern Mongolia.
American Vanadium’s pilot scale metallurgical testing resulted in the creation of two high quality products: vanadium pentoxide (purple flake) and vanadium electrolyte.
EVRAZ Group has started construction of a new coking coal mine, Yerunakovskaya-VIII, within its existing coal mining division Yuzhkuzbassugol (Kemerovo region, Russia). And Chile’s Council of Ministers has approved, with observations, the Minera Invierno coal development project, the first stage of the Isla Riesco initiative.
Nkana mine is one of the oldest mines in Zambia, with mining dating back to the 1930s. Today it is owned by Mopani Copper Mines (MCM); a Zambian registered company jointly owned by Carlisa Investments Corp and ZCCM Investments Holdings. Carlisa is jointly owned by Glencore International and First Quantum Minerals. MCM has announced board approval for a new $320-million shaft and associated infrastructure, to be constructed at its Synclinorium project.
Aureus Mining has announced further positive results from feasibility drilling at the New Liberty gold project within the company’s 100% owned Bea Mountain Mining License in Liberia.
All this and much, much more in the August 12 issue of International Mining Project News….
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