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Canadian Zinc Reports Prairie Creek PFS, Plans Acquisition of Paragon Minerals
Canadian Zinc has reported the results of the preliminary feasibility study (PFS) on the company’s 100%-owned Prairie Creek mine in the Northwest Territories, Canada, along with new independent mineral resource and mineral reserve estimates for the project. The company has also announced a planned acquisition of Paragon Minerals in an all-share transaction that values Paragon at C$2.8 million. Paragon is an...... read
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Paramount Reports Results for Sleeper PEA
Paramount Gold and Silver has reported the results of a preliminary economic assessment (PEA) for its 100%-owned Sleeper gold and silver project in Humboldt county, Nevada. Paramount acquired a 100% interest in the project in 2010, including the original Sleeper highgrade open-pit mine operated by Amax Gold from 1986 to 1996. The PEA was led by Scott E. Wilson Consulting Inc., using resource and geologic information developed by SRK Consulting (Chile) S.A. The Sleeper PEA proposes.... read more
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Construction 75% Complete at Detour Lake Gold
Detour Gold Corp. reported in late July that construction of its Detour Lake open-pit gold mine in northeastern Ontario is on schedule for gold production to start in the first quarter of 2013.
Construction was reported to be at the 75% completion mark. A significant portion of the remaining construction activities are within the process plant building where workers are proceeding with the mechanical, piping, electrical and instrumentation installations. In other areas, concrete placement and building.... read
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AROUND THE
WORLD - Latin America |
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Xstrata Starts Commissioning at Antapaccay
Xstrata Copper started plant commissioning on time and within budget at its $1.47-billion Antapaccay copper project in southern Peru in early August 2012. The major, longlife open-pit is located about 10 km from Xstrata Copper’s Tintaya open-pit mine, where mining activities are scheduled to come to an end by the first quarter of 2013. Antapaccay mine life is projected at more than 20 years. The project will initially produce an average of 160,000 mt/y of copper in concentrate, plus gold…… read
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Hudbay Begins Construction at Constancia
Hudbay Minerals has begun construction at its open-pit Constancia copper mine in Chumbivilcas province in southern Peru following approval by its board of directors of a $1.5-billion investment in the project. The Constancia development schedule contemplates nine quarters of construction, with initial production in late 2014 and full production beginning in the second quarter of 2015. Production of contained copper in concentrate is expected to average approximately 118,000 mt/y during the first five full years of production (2015-2019) and 77,000 mt/y in subsequent years. Mine life will exceed 16 years. The concentrate…. read more
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AROUND THE
WORLD - Australasia |
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Xstrata Advances McArthur River and Mount Margaret Projects
Xstrata has provided updates on activity at two of its mining operations in Australia. At Xstrata Zinc’s McArthur River zinc mine in the Northern Territory, a $360-million investment has received corporate approval to more than double the mine’s capacity from 2.5 million to 5.5 million mt/y of ore by 2014. The project remains subject to final Australian government approval. At Xstrata Copper’s $124-million Mount Margaret copper mining…. read
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M&A Action in Australian Gold
Three agreed transactions have focused attention on a group of Australian gold producers that have operations primarily, but not exclusively, in Western Australia. St. Barbara Ltd. and Allied Gold have agreed to a transaction whereby St. Barbara will acquire Allied for cash and St. Barbara shares that value Allied at about A$552 million. Silver Lake Resources and Integra Mining have agreed to an all-share acquisition of Integra by Silver Lake that values Integra at about A$426 million. And Zijin Mining, China’s largest gold producer, reported in early August it had acquired a more than 50% interest in Norton Gold Fields, following a May 2012 …. read
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23,000-m Drilling Program at LM West and LM Silver Mines
Silvercorp Metals reports that a 23,000-m drilling program at its LM West and LM silver mines in the Ying Mining District, Henan province, China during the first half of 2012 substantially extended the down dip and striking extensions of previously defined mineralized zones within some major vein structures.
At LM West, drilling in the first half of 2012 totaled 17,974 m in 41 completed core holes using six underground….
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Oyu Tolgoi Phase-one Construction Nearing Completion
Turquoise Hill Resources, formerly Ivanhoe Mines, reported in mid-August 2012 that overall construction of the first phase of development of the Oyu Tolgoi copper-gold-silver project in the South Gobi region of Mongolia reached 90% completion at the end of the second quarter of 2012 and had advanced to 94% completion by the end of July. Total capital invested in first-phase construction to the end of second quarter was approximately $5.2 billion. Turquoise Hill holds a 66% interest in the project. The government of Mongolia…. read
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Endeavour Acquiring Avion in Agreed Transaction
Endeavour Mining and Avion Gold announced an agreement in early August 2012 whereby Endeavour will acquire Avion in an all-share transaction that values Avion at about C$389 million. Both companies’ operations are focused on West Africa. Endeavour owns the Nzema open-pit gold mine in southwest Ghana and the Youga open-pit gold mine in south-central Burkina Faso, with combined production of about 200,000 oz/y. The company is developing its Agbaou gold project in…. read more
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Wits Gold's De Bron-Merriespruit Project Moves to Final Feasibility
Wits Gold has appointed Turgis Consulting and MDM Engineering to complete the final feasibility study at the company’s shallow De Bron-Merriespruit project in the southern Free State goldfield, South Africa. Turgis will be responsible for the detailed engineering and mine designs, while MDM will focus on the metallurgical plant and related design aspects. The study is slated for completion during the third quarter of 2013. Turgis recently completed the positive prefeasibility study (PFS) for the project, which confirmed that a mine at De Bron-Merriespruit was both technically and economically viable……
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Romney Unveils Energy Policy Plan
A crucial component of Mitt Romney’s plan for a stronger middle class is a comprehensive energy strategy to achieve North American energy independence by 2020 and establish America as an energy superpower in the 21st century. The recently nominated Republican presidential candidate has announced his national energy policy plan. Proposing significant regulatory reform and increased domestic energy production, Romney’s plan promises to create 3 million jobs and more than $1 trillion in revenue by ramping up production of domestic energy …. read more
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Rio Tinto to Close Blair Athol in Queensland
Rio Tinto Coal Australia’s Blair Athol mine, near Clermont in Central Queensland, will finish mining operations this year after almost 30 years of production. Clermont Region General Manager of Operations Dawid Pretorius said the mine has been progressively scaling back production in a transition toward closure since 2010. "After close to three decades, Blair Athol’s coal seams are largely mined out and the time has come to finish production," he said. "Coal mining has a long and proud …. read more
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NMA Scores Wins for the U.S. Coal Industry
Judges awarded the National Mining Association’s (NMA) legal team two decisive wins in early August. The first case was WildEarth Guardians v. Ken Salazar and Antelope Coal LLC. The NMA entered to help defend the federal coal leasing program against environmental groups’ challenges to the government’s West Antelope II lease sale. The Powder River Basin (PRB) has been the venue for green activists who have repeatedly sought a legal toehold to tie up the federal coal leasing program by alleging environmental harm…. read
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