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NovaGold Provides Updates on Rock Creek, Donlin Creek and Galore Creek Projects
- NovaGold reported in mid-April 2009 that it was considering its options for its Rock Creek gold project near Nome, Alaska, where commissioning activity was suspended in November 2008. The company also reported that a feasibility study was completed for its 50%-owned Donlin Creek gold project (50% Barrick) in Alaska on April 1, 2009, and that $16 million has been budgeted for care-and-maintenance and optimization studies activities during 2009 at its 50%-owned Galore Creek copper- gold-silver project (50% Teck Resources) in British Columbia..... read
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North American Palladium to Acquire Cadiscor Resources
- North American Palladium (NAP) and Cadiscor Resources announced a definitive agreement in late March 2009 whereby NAP will acquire Cadiscor in an all-share transaction. Cadiscor’s main asset is the Sleeping Giant underground mine and milling facilities, located about 80 km north of Amos, Quebec, in the province’s Abitibi region. Cadiscor acquired the mine from Iamgold in 2008. A feasibility study released in October 2008 identified sufficient mineral reserves to operate for 16 months at a rate of 52,000 oz/y of gold.... read more
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Kirkland Lake Gold Meets Production Targets
- After announcing plans last December to expand its workforce, commence mining at its South mine complex in March 2009 and target a production output of 100,000 oz for its 2010 fiscal year, Kirkland Lake Gold recently reported that a number of these targets were met as an additional 150 miners and underground workers were hired and integrated into the workforce. The number of available ore faces was doubled by developing new stopes in both the Main mine and South mine complex areas and the mine now operates on a seven.... read
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Dynasty Commissioning Zaruma Gold Operations - In early April 2009, Dynasty Metals & Mining began commissioning the gold plant at its 800-mt/d underground Zaruma project in El Oro province of southwest Ecuador. The project is back on track after being delayed by the suspension of mine development in Ecuador over the past year while the nation’s mining law was being rewritten. Gold production is scheduled at about 100,000 oz/y. The Zaruma plant is being commissioned in phases, starting with the crushing section. The ball mills were scheduled for testing later in April…… read
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Silver Standard Inaugurates Pirquitas - Silver Standard Resources formally inaugurated operations on April 6 at its Pirquitas silver-tin-zinc project in Jujuy province, Argentina. Commissioning had been underway at Pirquitas for several weeks, with first ore delivered to the silver circuit in March. Initial production is based on the processing of more than 400,000 mt of run-ofmine grade jig tails from historic operations, prior to transitioning to processing of ore from the open-pit. As of early March, more than 5 million mt of material had been moved from the Pirquitas open pit…. read more
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New Iron Ore Port Planned for Brazil - MMX Mineração e Metálicos (MMX) reported in mid-April that LLX Logística has obtained the necessary preliminary environmental license for construction of Port Sudeste, a shiploading terminal with a capacity of 50 million mt/y of iron ore. MMX and LLX are both member companies of the EBX Group, a Brazilian conglomerate. Port Sudeste is to be located in the municipality of Itaguaí, 80 km from Rio de Janeiro and 4 km from the MRS rail network. The port will handle production from MMX’s Sudeste System mines…… read
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OZ Minerals and Minmetals Receive Approval for Downsized Transaction - OZ Minerals reported on April 23 that the government of Australia had approved acquisition by China Minmetals of OZ Minerals assets in a transaction that excludes the Prominent Hill mine and related exploration leases in Australia, the Martabe gold and silver project and related exploration leases in Indonesia, and certain exploration leases in Thailand and Cambodia. The following day, OZ Minerals announced the sale of the Martabe project to China Sci-Tech Holdings…. read
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Atlas Completes First Cape Size Shipment of Pardoo Ore- Atlas Iron Ltd. announced that the first cape size shipment of iron ore from its Pardoo project in the Pilbara region of Western Australia completed loading at Fortescue Metal Group’s Herb Elliot Port in Port Hedland. The China-bound shipment, comprising 149,026 wet metric tons (mt) of iron ore from the Bobby deposit at Pardoo, represents the first ore delivered under the long term contract signed in December 2008. Atlas has previously completed two shipments totaling 124,454 wet mt of lower grade…. read
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Eldorado Looks to Boost Kisladag Gold Output by 2011 - Eldorado Gold Corp. has released a summary of the results of a recently completed internal review of its Kisladag project in western Turkey. The study, according to the company, identified certain opportunities to effectively increase annual production and lower unit costs at Kisladag and will form the basis of feasibility engineering to be undertaken by the company and its consultants over the next five months. Highlights of the study included….
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Investors Eye Tampakan Copper-Gold Project - BHP Billiton, Vale and eight to 10 Chinese sovereign funds may all be trying to get involved in what may be the biggest foreign investment—reportedly $5.2 billion— in the Philippine mining sector, the potentially rich Tampakan copper-gold project in South Cotabato, Mindanao. Indophil Resources NL CEO and Managing Director Richard Laufmann said he heard that BHP and Vale have been trying to buy into Xstrata, one of Indophil’s partners in Tampakan along with Alsons Corp. and the Tampakan Group of companies .…. read
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Paladin Starts Up at Kayelekera - Paladin Energy has commissioned the new Kayelekera open-pit uranium mine in northern Malawi and is ramping it up to design capacity of 3.3 million lb/y of U3O8. The project is expected to have a mine life of seven years and a project life of 11 years based on existing resources. Capital expenditures to develop the project totaled about $185 million. Project operating costs are expected to range from $19.50/lb of U3O8 produced during the first seven years of operation to $23/lb over the life of the project. These costs are inclusive of full onsite power generation …. read more
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Syama Redevelopment Nearing Completion
- Resolute Mining is nearing completion of commissioning of the sulphide circuit at its 80%-owned Syama redevelopment project in Mali and expects the project to reach commercial production by July 2009. The Mailian government holds the remaining 20% of Syama. The single-pit operation is slated to produce about 250,000 oz/y of gold when it reaches design capacity. The project currently has reserves to support a six- to seven-year mine life, with potential to increase reserves by development……
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