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Suncor and Total Form Oil Sands Alliance
Total subsidiary Total E&P Canada and Suncor Energy have signed several agreements to form a strategic oil sands alliance encompassing the Suncor-operated Fort Hills mining project, the Totaloperated Joslyn mining project, and the Suncor-operated Voyageur upgrader project. All three projects are located in the Athabasca region of Alberta, Canada. Under the alliance, the companies will pool their combined interests in these projects, with the respective..... read
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Norilsk Sells Stillwater Stake
Stillwater Mining announced in mid- December 2010 that Norimet, a 100%- owned subsidiary of Russian nickel producer Norilsk Nickel, had sold its entire 49.8-million share interest in Stillwater. The sale represented about 51.3% of Stillwater’s outstanding shares. The bulk of the sale, 37 million shares, was to the public at an offering price of $19.50 per share. Underwriters exercised their overallotment option to purchase an additional 3.8 million shares, and UBS Securities purchased 9 million shares. Stillwater did not receive any proceeds from the sale.... read more
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BHP Billiton Submits EIS for Jansen Potash Project
BHP Billiton submitted the environmental impact statement (EIS) for its proposed Jansen potash project in Saskatchewan to the Saskatchewan Ministry of Environment (MOE) in mid-December 2010. The Jansen project, located about 140 km east of Saskatoon, is being designed to produce approximately 8 million mt/y of potash at full capacity, potentially making it the world’s largest potash mine. The proposed mine has resources to support about 70 years of operation. The Jansen EIS will be released for public comment by the MOE after the document.... read
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| AROUND THE
WORLD - Latin America |
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Report Outlines Major Silver Prospect in Southeastern Guatemala
Tahoe Resources has released an NI 43- 101 compliant preliminary economic assessment (PEA) for its underground Escobal silver project in southeastern Guatemala that indicates potential for the project to become one of the world’s premier silver mines in terms of size, cost and economics. Feasibility-level test work on the sulphide resources has demonstrated recoveries of 87% for silver, 75% for gold, 83% for lead and 83% for zinc, with the majority of preciousmetals…… read
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Vale Starts First Chilean Mining Project
On December 2, 2010, Brazil’s Vale officially inaugurated operations at its Tres Valles copper project in Chile. Located 316 km north of Santiago at Salamanca in Chile’s Region IV, Tres Valles is Vale’s first mining project in Chile. The project will have capacity to produce 18,500 mt/y of electro-won copper cathodes when it reaches full production in 2012. Mine life is currently estimated at 11 years. Pre-production capital to develop the project totaled $140 million. Vale intends to invest all operating revenue from the project in new mineral exploration…. read more
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| AROUND THE
WORLD - Australasia |
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Rio Tinto Approves Expansions to Pilbara Mines
In December 2010, Rio Tinto approved investment of $1.2-billion for significant expansions of its wholly-owned Brockman 4 and Western Turner Syncline iron ore mines in the Pilbara region of Western Australia. The expansions are part of a wider program to lift Rio Tinto’s Pilbara iron ore production from its current level of 220 million mt/y to 283 million mt/y by the second half of 2013. The investment brings to $7.2 billion (Rio Tinto’s share, $5.1 billion) the amount in new Pilbara iron ore investment announced by Rio Tinto…. read
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Queensland Floods Impact Boyne Aluminum Smelter
Rio Tinto Alcan declared force majeure in mid-January on supply of aluminum from Boyne Smelters Ltd. near Gladstone, Queensland as a result of the severe flooding that has impacted the state. "The floods have cut road and rail access between Gladstone and Brisbane, and the Brisbane port is closed, preventing deliveries to some domestic and international customers," the Rio Tinto Alcan statement said. "Rio Tinto Alcan is investigating alternative arrangements for customers, including shipping aluminum directly out of the Gladstone port …. read
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Ivanhoe Budgets $2.3 Billion for Oyu Tolgoi in 2011
Ivanhoe Mines has budgeted $2.3 billion in capital spending during 2011 for the first phase of its Oyu Tolgoi copper- gold project in southern Mongolia. The coming year will be the peak year for construction activity on the project. Approval of the budget by the Ivanhoe Mines board of directors followed earlier full approval of the 100,000-mt/d project by the Ivanhoe Mines-Rio Tinto joint technical committee, which is overseeing the Oyu Tolgoi project, and the board of Oyu Tolgoi LLC, the Mongolian company that….
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European Nickel Shifts Focus to Philippines
European Nickel announced in December 2010 it had placed its Çaldağ project in Turkey on care and maintenance until receipt of a necessary forestry permit and that it will fast-track the definitive feasibility study for its Acoje nickel laterite project on Luzon Island in the Philippines. The Çaldağ technical team will be transferred to the Acoje project.The definitive feasibility study for the Acoje project has been in progress since March 2009. A heap leach trial will begin during the first quarter of 2011. According to the company, a significant amount of the…. read
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KCM Investing $1 Billion to Expand Zambian Copper Output
Konkola Copper Mines (KCM) has announced plans for new investments totaling about $1 billion to be spent over the next three to four years on expansions and upgrades at its copper operations in Zambia. KCM CEO Kishore Kumar said the funds will be spent on the company’s Chingola Refractory Ore project, development of the bottom-shaft loading facility at its Konkola Deep mine project, and upgrades to the East…. read more
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Nevsun Pours First Gold at Bisha
TNevsun Resources joined the ranks of producing mining companies in early January when it poured the first gold at its Bisha mine 150 km west of Asmara, Eritrea, East Africa. The first pour was part of the plant commissioning process and rendered two doré bars totaling 26 kg (approximately 920 oz). Nevsun, which is headquartered in Vancouver, British Columbia, anticipates ramp-up to full commercial production will be……
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Queensland Flooding Impacts Global Coal Markets
By John Miller, Australian Editor
The impact of devastating floods in the Australian state of Queensland will be felt by the global coal industry for many months. The inundation is expected to cost the state’s coal industry at least $1 billion in lost production with the cost of repairs likely to run into hundreds of millions. Internationally, coking coal supplies will be limited with prices already increasing, an effect that is flowing on to the steel industry, creating pressure on production and prices. The flooding in December and early January affected much of Queensland, including the Bowen Basin coalfields in the center of the state and the Surat Basin to the south, and covered an area greater than the size of Germany and France. It was brought about by above average rainfall …. read more
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After 13 years as the Chief Executive of the Chamber of Mines of South Africa, Mzolisi Diliza will retire and assume the role of executive chairman of Strategic Partners Group (Pty) Ltd..
Russ Fields has been appointed the new director of the Mackay School of Earth Sciences and Engineering at the University of Nevada, Reno.
Roskill Information Services Ltd. has appointed Mark Seddon Managing director. Retiring Managing Director Judith Chegwidden will continue as a director and focus on the company’s consulting projects.
Wildcat Silver has appointed Gil Clausen vice chairman of the board of directors and Charles Magolske vice president of corporate development.
MWH Global has relocated to a new, larger office in Lima, Peru, and has named Andrew Watson Peru country manager to oversee the expanding operations.
Sandvik has appointed Olof Faxander president and CEO. He succeeds Lars Pettersson.
FLSmidth promoted Craig M. Sams to vice president of global product groups.
