A bumper issue this week, of over 40 pages, including some ‘different’ items of news like some gallium projects. Lots of coal and iron ore news – the poundits say these are two of the commodities to be in. The eletter includes sections on prefeasibility and feasibility studies, announcements on developments going ahead, new mines into production, expansions and people moving around the projects.
This issue has news, in the developments section alone, of Harmony Gold and Newcrest Mining in Papua New Guinea, bringing into production a new block cave mine – Hidden Valley – a gold and silver project, expected to produce over 250,000 oz/y of gold and 3.6 Moz/y of silver over a 14 year mine life. Yalea underground gold mine being developed at Randgold Resources’ Loulo project in Mali is scheduled to establish its first mining faces in the second quarter, with full production by 2009. Anglo Asian Mining is proceeding with development of the Gedabek project in West Azerbaijan. Production from Gedabek is forecast, by the company, to exceed 85,000 oz of gold in the first year. In Senegal, Mineral Deposits first year gold production of some 200,000 oz is expected in 2009, when Sabadola mine’s operating costs are expected to be $371/oz. Sino Gold Mining has been issued the Mining Licence for the White Mountain gold mine from China’s Ministry for Land and Resources. Osisko Exploration has entered into an agreement with Hewitt Equipment to acquire the mining fleet for its Canadian Malartic gold project.
URS Corp’s Washington Division has been awarded a contract by PolyMet Mining to provide EPCM services for new processing facilities at PolyMet’s mining project in northeastern Minnesota. Vulcan Resources has completed the Definitive Feasibility Study for an 800,000 t/y Kylylahti mine and concentrator in eastern Finland. The Board has approved the initial development of this copper-cobalt-nickel project. Adanac Molybdenum has signed a term sheet with a leading global investor to provide $80 million bridge financing to fund continued development of the Ruby Creek moly project. Sally Malay Mining has now awarded all major contracts for construction and operation of the Copernicus nickel project.
Moly Mines says that the Environmental Protection Authority of Western Australia has recommended that the company’s Spinifex Ridge moly-copper project should be approved. Gunson Resources reports JORC compliant ore reserves at Coburn have been increased by 247%, to 306 Mt averaging 1.2% heavy minerals. At the proposed mining rate of 17.5 Mt/y of ore, mine life at Coburn has increased by over 10 years. Mosquito Consolidated Gold Mines has received the completed NI 43-101 technical report on its Idaho-based CUMO molybdenum-copper project and its filing with SEDAR. Universal Resources has approved development of the Roseby copper project (Queensland).
SouthGobi Energy Resources has bought a second fleet of coal mining equipment for the Ovoot Tolgoi open-pit coal mine in southern Mongolia. Infrastructure milestones have advanced Northern Energy’s Elimatta and Yamala coal projects in Australia. ArcelorMittal has reached an off-take agreement with Coal of Africa, which relates to two new mines in South Africa. Whitehaven Coal has received project approval for its Rocglen (previously Belmont) coal project from the New South Wales Minister for Planning. Alliance Resource Partners has approved the opening of a new mine for the immediate development of the River View coal reserves in Kentucky.
There is of course much, much more within the latest project news from around the world. To receive the full 40+ page report, subscriptions to the service can be registered and paid for on-line (SUBSCRIBE TO IM PROJECT NEWS BUTTTON), or contact [email protected] for a free trial copy.