The latest issue of International Mining Project News, out today, has reports on 31 prefeasibility studies, 20 feasibility studies, 38 projects in development, three new mines that have gone into production, eight existing mines that are expanding, 17 merger and acquisition announcements and many new appointments to new positions. The reports covers 45 gold projects, 15 copper, 13 coal and iron ore projects, eight reports on silver, seven on potash, five projects on rare earth elements and molybdenum, four each on nickel, lithium and zinc, three each for lithium and zinc, two uranium, phosphate and platinum group metals projects and one project each on magnetite, diamonds, zircon, tin, antimony, rhenium, magnesium, cobalt, bauxite and precious metals. [email protected] for a trial copy of International Mining Project News.Construction work on the Kibali project in the Democratic Republic of Congo, which when completed is expected be one of the largest gold mines in Africa, is proceeding rapidly as the developers keep their sights firmly set on first production by the end of 2013.
New Gold’s New Afton gold/copper mine is now less than two months from starting production. The final stages of development are coming together as planned. The underground block caving operation is active and progressing as expected with continued drawbell development, mining rate build-up and growth of the surface ore stockpile all meeting or exceeding expectations. The final stages of completion of the mill building are also on track, with the first ore scheduled to be put through the mill circuit in June as originally planned.
Baja Mining provided an update on its cost control initiatives, the development of a funding plan, an executive change and a new governance advisor. “We are responding quickly and effectively to control costs, finance projected cost overruns and improve management,” said President and CEO John Greenslade. “Our objective is to continue to advance our Boleo Project so that copper production begins on schedule in the first half of 2013.”
Frontier Mining is on schedule at its Benkala copper project. Mining has commenced – some 25,000 t of ore stockpiled – and all equipment on-site and installed. First production of copper cathodes remains on schedule for June with targeted production of 3,500 to 5,000 t in calendar year 2012.
Rio Tinto and Chalco have completed the formation of their joint venture to develop and operate the Simandou iron ore project in Guinea, following the completion of all Chinese regulatory approvals. As a result, a consortium led by Chalco has made an earn-in payment of $1.35 billion, in line with an agreement reached with Rio Tinto in March 2010.
Orocobre says it agrees with the statements of a number of other mining companies that Argentina’s mining sector “is fundamentally different from the energy sector. Mining is an export industry and assists in the country’s trade balance. The sector now comprises approximately 5% of the national GDP and continues to be a source of inward investment and growth for the economy with a number of significant projects currently under development. Both the national government and the provincial government of Jujuy consider mining as important part of economic growth. In that context, both the President of the country and the Governor of Jujuy have made recent public statements supportive of mining generally and the role of mining was an important part of both leaders’ addresses at the respective opening sessions of national and provincial legislative sessions.”
Entree Gold discusses several recent developments related to its Mongolia operations. On April 18, 2012, Ivanhoe Mines announced that it has signed a binding memorandum of agreement with its majority shareholder Rio Tinto that establishes Rio Tinto’s support for a series of funding measures expected to cover all projected capital requirements for the Oyu Tolgoi mining complex for the next four to five years. Lift 1 of the Entree-Oyu Tolgoi LLC (OTLLC) joint venture’s Hugo North Extension deposit is included in the first phase of development. Entree has a 20% carried interest in the Hugo North Extension deposit and the much larger Heruga deposit, both of which form part of the Oyu Tolgoi mining complex.
Prosperity Goldfields and Smash Minerals provided an update on their amalgamation and the core drilling program at Prosperity’s Kiyuk Lake gold property, Nunavut.
Fission Energy has entered into an Arrangement Agreement, whereby Fission has agreed to acquire all of the issued and outstanding shares of Pitchstone Exploration by means of a Plan of Arrangement.
Argonaut Resources advises that Cuesta Coal has successfully closed its Initial Public Offering.
Victory West Metals has signed a Heads of Agreement to acquire 100% of South East Asia Energy Resources (SEAE), a special purpose company registered in Singapore that has the rights to an 85% interest in the Penajam East coal project in East Kalimantan, Indonesia, with a pipeline of coal projects in Sumatra and East Kalimantan and initial offtake agreements.
New Guinea Gold has announced that the previously announced acquisition of NGG by PNG Gold Corp pursuant to a plan of arrangement was approved at a special meeting of NGG shareholders on April 12, 2012. The Arrangement will result in PNG acquiring all of the issued and outstanding shares of NGG.
All this and so much more in this latest issue.
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.
Full details on all these projects and information on and contacts for many, many more are to be found in the April 27 issue of International Mining Project News…..
To receive the full report, subscriptions to this service can be registered and paid for on-line (SUBSCRIBE TO IM PROJECT NEWS BUTTON), or contact [email protected] for a free trial copy.
