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Ring of Fire Forms Focus for Far Northern Ontario Development
"A new frontier area" is how Dr. Christine Kaszycki, assistant deputy minister at the provincial Ministry of Northern Development and Mines’ Ring of Fire Secretariat, described the development potential in far northern Ontario. Speaking to an international press gathering in Toronto in late 2012, Dr. Kaszycki went on to cite the new Ring of Fire prospects as being "one of the most significant developments in Ontario for...... read
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General Moly Moving Mt. Hope Toward Construction Start
General Moly announced on December 18, 2012, that the U.S. Bureau of Land Management had accepted the company’s reclamation bonding for the Mt. Hope molybdenum project in Eureka county Nevada and granted authorization to proceed with surface-disturbing activities. Earlier in the month, General Moly announced its 80%-owned subsidiary Eureka Moly, LLC had received $100 million in contributory payments from its 20% joint venture.... read more
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Stornoway Receives Renard Certificate of Authorization
Stornoway Diamond Corp. announced in early December 2012 that it has received the global Certificate of Authorization for its 100%-owned Renard diamond project from the Québec Ministère du Développement Durable, de l’Environnement, de la Faune et des Parcs (MDDEFP). The certificate represents the principal regulatory approval required to begin mine construction and was issued following more than two years of formal environmental study.... read
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AROUND THE
WORLD - Latin America |
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Antapaccay Dispatches First Copper Concentrates
Xstrata Copper’s new Antapaccay copper mine in southern Peru began production of commercial-grade copper concentrates at the beginning of November 2012 and delivered its first shipment to Matarani Port for delivery to customers worldwide later in the month. Plant commissioning was ongoing as Antapaccay progressively ramps up to its nameplate processing capacity of 70,000 mt/d in the first half of 2013. The mine will produce an…… read
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Anglo American Clears Final Hurdle for Minas-Rio Anglo American reported on December 21, 2012, that it had secured the removal of the third and final injunction that had been impeding construction activities at its Minas-Rio iron ore project in Brazil, allowing construction to proceed on the 90-km electricity transmission line that will provide power for the project. Two other injunctions were removed in September, enabling construction of the primary crusher and conveyor system and pre-stripping work to resume at the mine…. read more
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AROUND THE
WORLD - Australasia |
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Nyrstar Pursuing Transformation of Port Pirie Smelter
Nyrstar announced in early December 2012 that it has reached an agreement-in principle with the Australian federal government and the government of South Australia with respect to funding for a project to transform the company’s Port Pirie, South Australia primary lead smelter into an advanced poly-metallic processing and recovery center capable of processing a wider…. read
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Dugald River Project Gets Development Go-ahead The board of directors of MMG Ltd. Has endorsed the development and construction of the Dugald River zinc, lead and silver mine 65 km northwest of Cloncurry, Queensland, subject to final financing arrangements. Interim funding has been approved to carry the project through early 2013, at which time full project financing is expected to be concluded. The MMG board also gave the company or its subsidiaries approval to enter into major contracts for gas supply, power generation, and rail haulage, to advance the project …. read
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OceanaGold Produces First Concentrate at Didipio
OceanaGold Corp. announced on December 18, 2012, production of the first copper- gold concentrate at its Didipio project on Luzon island in the Philippines. Commissioning was ongoing and continued to meet expectations. Processing plant construction activities were complete, and construction of the remaining infrastructure, such as plant and mine maintenance workshops, will be completed as part of the project’s 2013 capital budget, in conjunction with the ramp up of the plant. Commissioning of the plant’s gravity gold circuit….
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Sagittarius Mines Eyes 2019 for Tampakan Start
Sagittarius Mines, the operating company that is developing the Tampakan coppergold project on Mindanao island in the Philippines, has provided the national government’s Mining Industry Coordinating Council with an updated project development plan that outlines the potential for commercial production to begin in 2019. The company had previously estimated that production might start in 2016. A joint venture between Xstrata Copper (62.5%) and Indophil…. read
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Mimosa Agrees to Zimbabwe Indigenization Plan
Aquarius Platinum announced in mid- December 2012 that Mimosa Investment Holdings, which it holds jointly in a 50:50 partnership with Impala Platinum, had agreed to sell a 51% interest in Mimosa to indigenous Zimbabwean parties for $550 million. Mimosa’s primary asset is the Mimosa platinum mine on the southern portion of the Great Dyke in Zimbabwe. Production totals about 210,000 oz/y of platinum group metals. The sale price was based on an agreed fair market value for Mimosa Holdings of $1.078 billion. Mimosa Investments will provide a vendor loan funding…. read more
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Rio Tinto and Anglo American Selling Palabora Interests
Rio Tinto and Anglo American announced on December 11, 2012, agreements to sell their interests in the Palabora Mining Co. in South Africa to a consortium of South African and Chinese entities led by Hebei Iron & Steel and the Industrial Development Corp. of South Africa (IDC). Palabora operates a large block cave copper mine and smelter complex employing 2,200 people in Limpopo province, South Africa. The company produces about 80,000 mt/y of refined copper.……
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Ship Damages Coal Loading System at Westshore Terminals
A large bulk carrier docking at Westshore Terminals in Vancouver, Canada, destroyed a coal conveyor system December 7, 2012, disabling the largest of the port’s two berths. The mishap has put the berth out of service for an indefinite period of time and diminished the port’s ability to export coal. The loss of the berth, which handles ships with a cargo capacity up to 260,000 metric tons (mt), is a significant blow to Westshore, which is North America’s largest coal exporting port. Westshore has one remaining berth, that …. read more
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UK Coal Restructures
In December, the UK’s largest coal producer finally completed an eight-month restructuring exercise that has involved splitting its mining and property assets into separate entities. Faced with continuing operating losses, $220 million in debt and a $680 million deficit in its pension funds, UK Coal had risked breaching covenants had it not done so, with its mining operations liable to run out of cash early in 2013.
Under the new structure, UK Coal Mine Holdings becomes a wholly-owned subsidiary of a new parent company …. read more
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