AROUND THE
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Allied Nevada Advances Hycroft Mill Project
Allied Nevada Gold has released the results of a positive milling feasibility study for its Hycroft mine near Winnemucca, Nevada. The company’s board has approved capital spending to secure long-lead items and to complete detailed engineering for the project. Upon completion of detailed engineering and receipt of required permits, expected in January 2013, the company intends to move directly into the construction phase of the mill project. The mill project at Hycroft is separate from and in addition to an expansion of.... read
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Teck Upgrading Highland Valley and Trail Operations
Teck Resources is investing $475 million in a mill modernization project at Highland Valley Copper and $210 million at its Trail Operations to significantly increase its capacity to recycle end-of-life electronic waste (e-waste). Both operations are in British Columbia.The 40-year old mill at Highland Valley Copper will be modernized, and mill life will be extended to match expected mine life. The project is also expected to increase mill throughput by approximately 10% and copper recoveries by approximately 2%. Construction has begun, and the project is scheduled for completion by the end of 2013.... read more
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ITH Envisions Major Gold Project at Livengood
International Tower Hill Mines (ITH) has released an updated resource estimate for its Livengood gold project 115 km northwest of Fairbanks, Alaska, that significantly expands surface-mine mineralization to 16.5 million oz of gold in measured and indicated resources and 4.1 million oz of gold in inferred resources. At the same time, ITH reported the results of an updated preliminary economic assessment for the project that considers production of 664,000 oz/y of gold over the first five years of operation.... read
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AROUND THE
WORLD - Latin America |
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Minera Alumbrera Takes Option on Agua Rica Cu-Au Project
Xstrata Copper, Goldcorp and Yamana Gold announced in early September 2011 they have reached a definitive agreement providing Mineral Alumbrera the exclusive option to acquire Yamana’s 100% interest in the feasibility-stage Agua Rica coppergold project. Minera Alumbrera is a joint venture between Xstrata Copper (manager and 50% owner), Goldcorp (37.5% owner), and Yamana (12.5% owner) that operates the Alumbrera mine in Catamarca province, Argentina. The Agua Rica project is located 35 km from the Alumbrera mine. Under the terms of the agreement, Minera Alumbrera…… read
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IFC Invests in Brazilian Phosphate Project
MBAC Fertilizer Corp. has entered into an agreement with IFC, a member of the World Bank Group, pursuant to which IFC has agreed to invest approximately C$33.6 million to acquire 10,829,900 common shares of MBAC at a price of C$3.10/share. Upon completion of the IFC placement, IFC will hold an interest representing approximately 11.1% on a non-diluted basis and 10.3% on a fully-diluted basis of the common shares outstanding. The proceeds from the IFC investment will be used by MBAC for the development of the Itafós- Arraias SSP project. In October…. read more
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AROUND THE
WORLD - Australasia |
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Rio Tinto Investing in Pilbara Infrastructure
Rio Tinto has budgeted for three significant infrastructure projects in support of ongoing expansions of its iron ore production capacity in the Pilbara region of Western Australia. A US$520-million project (Rio Tinto share $417 million) will upgrade Rio Tinto’s integrated Pilbara power and gas network; a $313- million project (Rio Tinto share $289 million) will add to its fuel infrastructure; and a $310-million project will assure a sustainable water supply. The power and gas project will deliver an additional 120 MW to sustain current capacity…. read
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Positive Results for Yalgoo Iron Ore Prefeasibility Study Venus Metals Corp. has released positive results for a prefeasibility study of the Yalgoo magnetite iron ore project in the Mid West region of Western Australia, 200 km due east of Geraldton, that it is developing with 50% farm-in joint-venture partner Shandong Provincial Bureau of Geology and Minerals, of China. The project is based on seven exploration licenses totaling 208 km2. The Bilberatha Hill magnetite banded iron formation deposit is the main orebody under consideration. Project design currently calls for Yalgoo to produce 7.5 million mt/y of high-grade magnetite …. read
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Kazakhmys Developing Major Copper Mine at Bozshakol
Kazakhstan copper producer Kazakhmys is proceeding with development of its major copper growth project at Bozshakol in northern Kazakhstan. Bozshakol is a Greenfield project located close to existing power, transportation and other infrastructure. The deposit has mineral resources of 1.2 billion mt at an average grade of 0.35% copper, including 832 million mt of measured and indicated resources at an average grade of 0.37% copper. The deposit also contains valuable gold and molybdenum. Bozshakol will have a production life of more than 40 years….
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Eldorado Plans Doubling of Production at Kişladağ
Eldorado Gold has released the results of an expansion study that outlines a potential doubling of production at its Kişladağ heap-leach gold mine in western Turkey. Assuming positive ongoing results related to final project details, a construction decision and placement of orders for long-lead equipment are expected by year-end 2011. Based on current proven and probable reserves of 10.2 million oz, the overall production rate for crushing, screening and stacking at Kişladağ is expected increase to 25 million mt/y, up from 12.5 million mt/y currently. Run-of-mine ore treatment…. read
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Palabora Stakeholders Rio Tinto and Anglo American Seeking to Divest Rio Tinto and Anglo American informed the board of directors of Palabora Mining Co. in early September 2011 that they intend to divest their respective 57.7% and 16.8% interests in Palabora. Rio Tinto initiated a commercial process to sell its shareholding and Anglo American is participating in the process. Palabora’s principal assets are integrated underground copper mining, smelting and refining operations in Limpopo province, South Africa. Production capacity is rated at about 80,000 mt/y of refined copper. The mine produces magnetite as a joint product. Current mine life is projected to early 2016…. read more
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Endeavour/Adamas Merger Focuses on West African Gold
Endeavour Mining and Adamus Resources have entered into an all-stock merger agreement that would create a gold production and exploration company focused on West Africa. Endeavour is headquartered in Georgetown, Grand Cayman, and is listed on the Toronto Stock Exchange; Adamus is headquartered in West Perth, Western Australia, and is listed on the Australian Stock Exchange. The merged company would be listed on both exchanges. At the time of the merger announcement, the companies had a combined market capitalization of about $600 million. Endeavour’s 90%-owned Youga mine in Burkina Faso is expected to produce 84,000……
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Luminant to Close Mines; Files Suit Against EPA to Protect Reliability
Luminant, the largest electricity generator in the U.S. state of Texas, decided it would have to close facilities to comply with the U.S. Environmental Protection Agency’s Cross-State Air Pollution Rule. The rule requires U.S. power generators to make drastic reductions in emissions beginning January 1, 2012. While Luminant is preparing to meet the rule’s compliance deadline, it also filed a legal challenge in an effort to minimize the harm this rule will cause to power supply reliability in Texas. To meet what it terms the rule’s unrealistic deadline and requirements…. read more
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SouthGobi Resources Sets Monthly Record Mongolian coal operator SouthGobi Resources, according to The ASIA Miner, has set a new monthly record of 441,665 metric tons (mt) of coal shipped in August, representing a substantial increase over shipping levels in the second quarter of 2011. SouthGobi’s President and CEO Alexander Molyneux said, "We have seen a continual increase in capacity being allocated by customers to collect our coal. We are pleased to see our shipping rate reach a level of approximately 5.3 million mt of coal on an annualized basis so soon, which is on track to meet our targets…. read more
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Peabody Truck Sets New World Record
Peabody Energy’s North Antelope Rochelle mine in Wyoming, USA, now can officially claim itself as home to the world’s largest mining truck body by volume. The body, designed and manufactured by Westech for a Liebherr T282C ultra-class haul truck, set the record at 447.3 tons, with a volume of 615.2 yd3. The Guinness World Book of Records officially recognized the claim in July…. read
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