|
|
Teck Agrees to Sell Pogo Interest
- Teck Resources announced on April 30 that it had entered into a non-binding memorandum of understanding (MoU) with Sumitomo Metal Mining regarding the proposed sale of Teck’s 40% interest in the underground Pogo gold mine in Alaska for $245 million subject to adjustment for working capital. Sumitomo Metal Mining holds an indirect 51% interest in Pogo, and an affiliate of Sumitomo Corp. holds a 9% interest. Teck reported that the MoU with Sumitomo Metal Mining followed receipt by Teck of a third-party offer to acquire Teck’s interest in Pogo on comparable terms. Completion of the transaction remained..... read
more |
|
|
Federal Jury Acquits W.R. Grace in Asbestos Case
- A federal jury in Montana acquitted W.R. Grace & Co. and three of its executives in early May 2009 on all counts in a long-running asbestos environmental case that grew out of the company’s operation of a vermiculite mine at Libby, Montana, from 1963 to 1990. The case had been brought by the U.S. Justice Department’s Environment and Natural Resources Division and the U.S. attorney for the district of Montana. The prosecution failed to convince the jury that Grace and its executives knowingly endangered the lives of mine workers and Libby residents.... read more
Top
|
|
|
Goldcorp Developing Cochenour Gold Project
- Goldcorp is proceeding with plans to develop its Cochenour project in the Red Lake district of Ontario, Canada. The project combines the existing workings of Goldcorp’s historic Cochenour mine with the contiguous and down-dip Bruce Channel gold discovery acquired by Goldcorp when it acquired Gold Eagle Mines in September 2008. No mineral resource yet exists for Cochenour, but for purposes of initial scoping estimates, Goldcorp is sizing the project at approximately 5 million oz of gold.... read
more |
|
|
|
|
Stingray Developing Sonora Copper Project - Stingray Copper, a Toronto-based Canadian junior company, is proceeding with development of its El Pilar copper project in Sonora, Mexico, 45 km northwest of Grupo Mexico’s Cananea copper mine and 15 km from the Mexico-United States border. Stingray acquired the project when it purchased Noranda Exploracion Mexico from Xstrata in April 2007. Based on the results of a definitive feasibility study released in April 2009, Stingray’s board of directors has approved development, subject to financing, of a low-cost, open-pit mine and solvent extraction and electro-winning facilities to treat oxide reserves…… read
more |
|
|
Baja Selects ICA Fluor to Perform EPCM at Boleo - Baja Mining has signed a letter of intent with ICA Fluor to perform the engineering, procurement and construction management (EPCM) for Baja’s Boleo coppercobalt- zinc-manganese mining project near Santa Rosalia, Baja California Sur, Mexico. ICA Fluor’s work will be performed in two phases. Phase I will consist of the development of an open-book capital cost estimate and project construction schedule. The cost estimate will reflect current market conditions and be supported by work…. read more
|
|
|
Scoping Study Considers Choco 10 Expansion - Rusoro Mining has received a scoping study from Micon International that indicates favorable economics for an expansion of gold production to more than 500,000 oz/y from reserves and resources at the company’s 95%-owned Choco 10 mine and its Increible 6 deposit (4 km from Choco 10) in the El Callao district of Bolivar state, Venezuela. Choco 10 currently produces about 100,000 oz/y of gold. The scoping study indicates optimal results for an expansion utilizing the existing 5,000-mt/d processing plant plus a new 15,000 mt/d-facility. Based on the encouraging results of the study, Rusoro is targeting…… read
more |
|
|
|
|
BHP Billiton Releases Draft EIS for Proposed Olympic Dam Expansion - BHP Billiton has released a Draft Environmental Impact Statement (EIS) to seek government approvals for a potential six-fold expansion of its operations at Olympic Dam in northern South Australia. The Olympic Dam Draft EIS is an extensive document of 963 pages. The proposed expansion centers on the creation of a new open-pit mine that would lift ore production six-fold at Olympic Dam and would require expanded minerals processing facilities. Major support infrastructure to be built would include a coastal desalination plant, a new power line and possibly a gas-fired power station, a rail line…. read
more |
|
|
Mine Safety System Goes Global- A real-time risk management system intended to improve safety and boost productivity in underground mines will be available globally after a Queensland company was awarded a license to commercialize the CSIRO-developed technology. Mackay-based Mining Logic Solutions has signed an exclusive global license agreement with CSIRO Exploration and Mining to commercially develop CSIRO’s Nexsys real-time risk management system. Nexsys allows underground mines to interrogate vast amounts of digital information from a variety of sensors and systems throughout the mine…. read
more
Top |
|
|
|
|
Study Estimates $5.2 Billion Cost for Tampakan Copper-Gold Project - Sagittarius Mines, the operating company developing the Tampakan copper-gold project on Mindanao island in the Philippines, has completed an extended prefeasibility study that outlines a project costing $5.2 billion to develop into a mine producing 340,000 mt/y of copper and 350,000 oz/y of gold over 20 years of operation. Sagittarius is owned 62.5% by Xstrata Copper, 34.2% by Indophil Resources and 3.3% by the Alsons Corp. The study includes a potential schedule for development, commissioning, and first production in early 2016. Mill recovery rates are estimated at….
read
more
|
Oxus Revises Amantaytau Planning - Oxus Gold, owner of a 50% interest in gold and silver producer Amantaytau Goldfields in Uzbekistan, has downsized plans for development of an underground sulphide mine at its Amantaytau operations. The new plan calls for investment of $74 million to develop a 450,000 mt/y underground mine producing about 100,000 oz/y. Previous planning, based on a June 2008 feasibility study, assumed investment of $170 million to mine 750,000 mt/y (increasing to 1.2 million mt/y) and produce as much as 270,000 oz/y of gold. Commissioning of the downsized sulphide plant is expected in the first quarter of 2011. Amantaytau surface oxide mining operations produced 66,465 oz of gold in 2008, down from 83,339 oz in 2007 .…. read
more
|
|
|
|
|
Gold Production Under Way at Sabodala - Melbourne, Australia-based Mineral Deposits Ltd., joined the ranks of the world’s gold producers on March 15 when it poured the first gold at its new Sabodala gold project in southeastern Senegal, West Africa. The project ramped up to full production at the end of April and had poured more than 32,000 oz by mid-May. Sabodala is expected to produce 160,000 oz of gold by year-end 2009. Project design calls for steady-state production of 200,000 oz/y of gold over a period of 10 years …. read more
|
|
|
Areva Developing Major Uranium Mine in Niger
- French nuclear company Areva has started construction of what will be a major new uranium mine in north-central Niger, North Africa. The open-pit Imouraren mine will require an investment of about $1.5 billion to reach a production rate of 5,000 mt/y of U308 in about three years. Reserves are reported to be sufficient to support that production rate for 35 years. The operating company will be owned two-thirds by Areva and one-third by the state of Niger. Areva currently produces about 3,100 mt/y……
read more
Top
|
|
|