| |
| |
 Donlin Creek Drill Results Favorable, But
Project Cost Will Increase - NovaGold Resources
Inc. in mid-December released final drill results
from the 2006 Donlin Creek infill drill program and
the majority of results from the 2007 program, and
said the drill data continue to indicate resource
expansion potential beyond the 2006 Preliminary Economic
Assessment pit limits. These drill results, according
to NovaGold, will be included in a resource update
and a final feasibility study for the project, and
are expected to convert a significant amount of the
previously reported inferred resources to the measured
and indicated category..... read
more |
|
|
Newmont Sells Royalty Assets to Franco-Nevada
- Newmont Mining Corp. agreed to sell its royalty
assets and certain other non-core investments to Franco-Nevada
Corp. in a transaction valued at approximately $1.3
billion.The agreement marks the culmination of the
process announced earlier this year by Newmont to
monetize components of its royalty and equity portfolio
to fund the development of its core gold business.
Newmont expects to record a pre-tax gain from discontinued
operations of approximately $0.95 billion in the fourth
quarter in connection.... read
more
Top
|
|
|
Baffinland Sees Interest in Mary River Iron Ore
from European Customers - Baffinland Iron Mines
Corp. on December 14, 2007, announced the signing
of a letter of intent for future sale of up to 3 million
mt/y of iron ore to ThyssenKrupp Steel AG, representing
15%–20% of the potential initial output of its Mary
River project currently under early development on
Baffin Island, Nunavut Territory, Canada. Two weeks
later, on December 27, the company also announced
signing of another letter of intent for sale of up
to 1.2 million mt/y to voestalpine Rohstoffbeschaffungs
GmbH. The company noted that the letters of intent
are an expression of interest only, and any binding
contract of purchase and sale will be subject ....
read
more |
|
|
| |
|
| |
Los Bronces Gets the Green Light
- Anglo American recently announced the start of construction
on the Los Bronces Development Project in Chile, following
approval by government authorities of the project’s
Environmental Impact Study submitted in October 2006.
The project will raise the mine’s production of fine
copper to 400,000 mt/y from the current level of 226,000
mt/y, an increase of some 170,000 mt/y by 2011. Molybdenum
production will reach 5,400 mt from the current level……
read
more |
|
|
MMX Starts Amapá Operations, Acquires AVG,
Looks at Asset Sale to Anglo American - Brazilian
iron-ore producer MMX Mineração e Metálicos S.A. announced
in December that an operating license has been issued
by the Amapa State Environmental Secretariat, authorizing
operations by subsidiary MMX Amapá Mineração which
include the project’s ore-processing installations
and infrastructure such as the Amapá Railway and Port
of Santana. The railway is operated under a 20-year
concession agreement with the State of Amapá signed
in March 2006. The Port of Santana, rebuilt and modernized
by MMX Amapá, is reportedly now in its operational
phase, equipped to receive…. read
more
Top
|
|
|
Coeur Completes Bolnisi, Palmarejo Acquisitions
- In late December 2007, Coeur d'Alene Mines Corp.
said it had successfully completed its acquisition
of Bolnisi Gold NL and Palmarejo Silver and Gold Corp.,
following shareholder approval of the $1.1- billion
transaction earlier in the month.
Bolnisi Gold is an Australian company with a portfolio
of precious metals projects in Mexico which includes
the Palmarejo silver-gold project in Chihuahua; the
Yecora gold-silver project in Sonora, and the El Realito
gold-silver project, also in Chihuahua. Palmarejo
is an exploration and development company focused
on gold and silver properties in the Temoris District
of Chihuahua, Mexico…. read
more
|
|
|
| |
New Zealand Underground Mine Commissioned
- OceanaGold Corp. on January 17 reported successful
commissioning of the Frasers Underground mine at its
Macraes operation on the South Island of New Zealand.
This is the second new gold mine that the company
has commissioned in the past 12 months, following
startup of the Reefton mine; and according to Oceana-
Gold, was completed on schedule, at a capital cost
net of gold revenue of NZ$33.4 million. The company
also plans development of two additional mines in
the near future …. read
more |
|
|
| |
|
| |
|
OceanaGold on Track for 2009 Startup at
Didipio Copper-Gold Project - Oceana Gold
Philippines Inc. (OGPI) is on track in the Didipio
copper-gold project development in Nueva Viscaya,
Philippines, with a road upgrade that has enabled
it to transport mining equipment to a plant that
will reportedly start up in early 2009. "We
are on schedule with our development timeline. The
road upgrade now allows us to get in large mining
equipment and large infrastructure components to
construct the plant," said OceanaGold CEO Steve
Orr…. read
more
|
Tampakan’s Estimated Resources Rise 10%
- Xstrata Copper announced on December 5, 2007,
that the mineral resource estimate for its Tampakan
copper-gold project in the Philippines has increased
by over 10% in both tonnage and contained copper,
consolidating Tampakan's position as one of the
largest undeveloped copper deposits in southeast
Asia.
According to the company, the upgraded measured,
indicated and inferred resource now totals 2.2 billion
mt at a grade of 0.6% copper.…. read
more
|
|
|
| |
Kolwezi Tailings Project to Proceed in DRC
- First Quantum Minerals announced that the board
of Kingamyambo Musonoi Tailings SARL (owned by First
Quantum, 65%; Gecamines, 12.5%; Industrial Development
Corp. of South Africa, 10%; International Finance
Corp.,7.5%; and the Government of the Democratic Republic
of Congo, 5%) has committed to proceed with the development
of the Kolwezi tailings project. First Quantum with
support from its contributing equity partners of KMT
(specifically IDC and IFC) will finance or procure
third party debt project financing totaling up to
$593 million. This satisfies the…. read
more
|
|
|
|
Impala will Process SmokeyHills PGM Concentrates
- Platinum Australia Ltd. has signed a life of-mine
off take agreement with Impala Refining Services
(IRS) for the PGM concentrates to be produced at
PLA’s 80%- owned Smokey Hills mine on the eastern
limb of the Bushveld Complex in South Africa. It
covers annual production of approximately 95,000
oz of PGMs contained in flotation concentrates over
the projected mine life of some seven years. Smokey
Hills will exploit a resource of 1 million oz of
4E PGM in the UG2 Reef which will be mined initially
as an open cut and progress to a shallow underground
mine. The on-site processing plant……
read more
Top
|
|
|
Postcards from the 
Eagle Nickel-Copper Project 
AngloGold 
Miner-Owned Coal Pit Closes in Wales
- The Welsh miners who invested their own money in
keeping Tower Colliery going for 13 years ceased operations
at the end of January because the coal had run out,
The Associated Press reported. Miners with blackened
faces, their families and friends carried flags and
banners in a short procession marking the end of operations.
One red banner, bearing the number 1831, recalled
the year that the socialist red flag was first raised
in Hirwaun, the nearby town.…... 
E&MJ’s
Annual Survey of Global Mining Investment 
Finsch Automates Diamond Mining
Location, Location, Location
Leaf Filters Provide Clarification Essential for Efficient Merrill-Crowe Precipitation
Magnetic
Separation System Enhances Nepheline Syenite Production
- Master Magnets Ltd., a U.K.-based manufacturer of
magnetic separation equipment, announced that it recently
supplied one of its Induced Roll high-intensity magnetic
separators to Iran Industrial Design Co. for use in
the production of high quality nepheline syenite.
According to Master Magnets, the installation is the
culmination of some 10 years of discussions with the
user and product …. 
Hydraulic
Wrenches Add a New Twist to Maintenance -
The Century mine in northwest Queensland, Australia,
reports that it has experienced good results following
a changeover to steel-bodied Enerpac hydraulic torque
wrenches for maintaining its heavy vehicle fleet.
Alloy-bodied hydraulic wrenches weren’t up to the
task of keeping a 45-strong fleet of Komatsu 830E
240-ton haul trucks maintained and operational
.…… 
Swedish
Perspectives — from London - Toward the end
of each year senior personnel from the Atlas Copco
and Sandvik mining and construction business units
in Sweden come to London to share with the trade press
their thoughts on world markets and their companies’
own roles in them and usually to review key technology
developments as well. During 2007, both units made
major acquisitions on the construction side and these
were discussed at some length. Given the two companies
serve similar…. 
Shovel
Dipper Offers Performance Improvements -
VR Steel says its new rope shovel dipper offers an
improved alternative to conventional products on the
market. Major design features of the VR dipper include:
A dual latching system that reduces maintenance and
operating costs per ton; an overall optimized trapezoidal
shape that enhances the dipper’s filling capacity
and…. 
LHD
Line Offers New Features - Sandvik Mining
and Construction has added significant upgrades to
their line of underground loaders. The new Sandvik
LH series, which replaces the popular Toro and EJC
brands, incorporates a long list of reliability and
durability updates, as well as improved safety, serviceability
and operator comfort features, according to the company.
Improvements include…. 
ROC
Series Drills Get Redesigned Cabins - Atlas
Copco’s ROC surface drill rigs new cabins offer more
space, comfort and safety, according to the company.
The ROC operator’s view has been improved by relocating
the instrument panel—and with a new angled front window,
roof window and the design of the cabin’s frame, the
operator can now observe the complete drilling process
from surface collaring to the top of the feed. The
forward angled front window…. 
Geophysical
Software Gets New Name, Features - Encom
has released the latest version of its geophysical
interpretation package, Encom PA 7.0, which incorporates
a change in name and feature packaging and a free
viewer. Encom PA, previously called Profile Analyst,
now supports drag and drop of 2-D and 3-D objects
into 2-D maps and 3-D views using automatic interpretation
of industry standard data formats and model objects.
The range of acceptable formats is large.….
Inclined
Screens Reduce Maintenance Requirements-
Telsmith’s new line of inclined vibrating screens,
the Vibro-King TL series, is intended to replace the
existing Vibro-King and Specmaker screen lines, offering
longer service life, reduced maintenance and lower
operating costs. At the heart of the Vibro-King TL
is the new TL shaft assembly featuring a "Never-Wear"
seal design that eliminates contact seals, reducing
maintenance and providing longer service life. For
greater bearing life, all TL shaft assemblies utilize
wide-series bearings…. 
Freeport-McMoRan
Copper & Gold announced a new organizational structure
that will follow the retirement of Tim Snider, president
and COO, in April. CEO Richard C. Adkerson
will become president; Phil Brumit
will become president of Freeport-McMoRan Africa.
ArcelorMittal
announced that Joseph Kinsch has
stepped down as chairman. Lakshmi Mittal
has been appointed chairman and will continue his
role as CEO. 
Ambrian
Commodities Ltd. announced the appointment of Alison
Giles as marketing executive. Ambrian Capital
plc announced that John Coles has
been appointed finance director. 
Bill
Thiermann has joined Ultra Tech Pipe as project
engineer.