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Nevada Copper Eyes 70,000-st/d Open-pit for Pumpkin Hollow
Nevada Copper has announced the results of an NI 43-101-compliant feasibility study for the planned Stage 2 openpit development at its Pumpkin Hollow copper project at Yerington, Nevada. Development of Pumpkin Hollow’s Stage 1 underground mine is ongoing, targeting commercial production in 2015. The Pumpkin Hollow open-pit feasibility study confirms the technical and economic viability of a stand-alone, 70,000-st/d Stage 2 open-pit copper mining...... read
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Dominion Diamond Planning Extension of Ekati Mine
Dominion Diamond has filed an application with the Wek’éezhii Land and Water Board requesting a new land use permit and a Class A Water License for extension of the Ekati diamond mine to include the Jay and Cardinal kimberlite pipes. The Ekati mine is located in the Lac de Gras region of Canada’s Northwest Territories, approximately 300 km northeast of Yellowknife. The Jay and Cardinal kimberlite pipes are located in Lac du Sauvage in the southeastern portion of the Ekati mine property, about 25 km from the main facilities and 7 km to the northeast of the company’s Misery mining area.... read more
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Shaft Hoisting Begins at Lac des Iles
North American Palladium (NAP) announced on October 21 that it had begun hoisting material through the new shaft at its Lac des Iles palladium mine in northern Ontario. The production, service and auxiliary hoists were fully operational, and the skipping system had been successfully tested with full loads of material. Complete commissioning of the shaft ore-handling system, including the crusher and loading pocket, was on target for completion later in October. Production was then expected to transition from ramp haulage to predominantly shaft haulage, effectively marking the completion of the mine’s Phase I expansion. NAP is.... read
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| AROUND THE
WORLD - Latin America |
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Sierra Mojada has 18-year Potential
Silver Bull Resources has reported positive results for a preliminary economic assessment (PEA) of its Sierra Mojada silver-zinc project in Coahuila state, north-central Mexico. The PEA describes an open-pit project having an 18-year mine life, mining and processing 55.9 million mt of ore averaging 73.4 g/mt silver and 2.79% zinc at a processing rate of 8,500 mt/d. Pre-production capital cost is estimated at $297.2 million, including a 15% contingency. Life-of-mine payable silver production would average 5.5 million oz/y at a cash cost of…… read
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Hochschild Builds on its Peruvian Interests
Hochschild Mining has entered into a binding agreement to acquire the 40% interests held by International Minerals Corp. in the Pallancata mine and the Inmaculada advanced project in Peru. Prior to the acquisition, Hochschild holds a 60% interest in the two properties. The transaction is valued at about $280 million. International Minerals’ non-Peruvian assets and liabilities will be spun off into a new company at closing. These will include International Minerals’ remaining cash and receivables, estimated at approximately $58 million…. read more
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| AROUND THE
WORLD - Australasia |
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Australia Streamlining Environmental Approvals Process
The government of Australia announced on October 16 approval of a framework for achieving a "one-stop shop" to streamline environmental approvals. The effort has an objective of simplifying a multilevel approvals process that currently involves federal, state and local governments. The federal government announcement was issued by Minister for the Environment Greg Hunt and came on the heels of an announcement by the Queensland state government on October 14 that it has adopted a new approvals process for coal and minerals exploration that will give landholders and resources companies more certainty by allowing for earlier engagement…. read
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Tropicana Pours First Gold Ahead of Schedule
AngloGold Ashanti announced the start of production at the Tropicana gold mine in Western Australia on September 26. Located 330 km east-northeast of Kalgoorlie, Tropicana was originally forecast to begin production in the fourth quarter of this year. The company is now focusing of ramping up to design throughput capacity of 5.5 million mt/y by year-end 2013. AngloGold Ashanti is 70% owner and project manager at Tropicana. Independence Group NL owns the remaining 30%. Capital expenditure for the project totaled…. read
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Kinross Reaches Commercial Production at Dvoinoye
Kinross Gold announced the start of commercial production at its Dvoinoye highgrade underground gold mine in the Chukotka region of Russia’s Far East on October 9. Dvoinoye is located approximately 100 km north of Kinross’ Kupol mine, and the Dvoinoye ore will be processed at the Kupol mill, providing additional, low-cost production. The project is expected to have a mine life of seven years….
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Kyrgyz Parliament Rejects Kumtor MoU
The parliament of Kyrgyzstan voted on October 23 to reject a Memorandum of Understanding (MoU) between Centerra Gold and the Kyrgyz government signed on September 9 regarding a potential restructuring of the ownership of the Kumtor gold mine (E&MJ, October 2013, p. 20). Under the MoU, Kyrgyzaltyn JSC would exchange its 32.7% equity interest in Centerra for a 50% interest in a joint-venture company that would own the Kumtor gold mine. Kyrgyzaltyn JSC is a joint-stock company wholly owned by the Kyrgyz Republic…. read
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African Minerals and Tewoo Sign Tonkolili Project MoU
African Minerals and Tianjin Materials and Equipment Group (Tewoo) have signed a binding Memorandum of Understanding (MoU) with respect to African Minerals’ flagship Tonkolili iron-ore project in central Sierra Leone and related infrastructure projects. Under the terms of the MoU, upon successful completion of the transaction, Tewoo will pay African Minerals $990 million for a 16.5% economic interest in the Tonkolili project…. read more
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Construction Begins at Venetia Underground
De Beers began construction of a new underground diamond mine beneath its open-pit Venetia mine in Limpopo province, South Africa, on October 22. The $2 billion (R20 billion) investment will extend the life of Venetia operations beyond 2040, and the underground mine will replace the Venetia open pit as South Africa’s largest diamond mine. Mine development will include the sinking of two vertical shafts and a decline shaft to a depth of 1 km. Underground production is expected to begin in 2021 and will extend into the 2040s.……
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Murray Energy Buys 5 CONSOL Energy Longwall Mines
CONSOL Energy sold its Consolidation Coal Co. subsidiary, which contains all five of its longwall coal mines in West Virginia, USA, to a subsidiary of Murray Energy for $3.5 billion in value. The mines being sold are the McElroy, Shoemaker, Robinson Run, Loveridge and Blacksville No. 2 mines. Collectively, these mines produced 28.5 million tons of thermal coal in 2012. Murray Energy is acquiring approximately 1.1 billion tons of Pittsburgh No. 8 seam …. read more
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Rio Tinto Sells Its interest in Clermont
Rio Tinto will sell its 50.1% interest in the Clermont joint venture to GS Coal Pty Ltd., a company jointly owned by Glencore Xstrata and Sumitomo Corp, for $1.015 billion. Under the terms of the sale, Glencore Xstrata will take over management of Clermont mine, which produces thermal coal in central Queensland, Australia. "Rio Tinto remains committed to a long-term future in central Queensland, …. read more
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Mechel Receives First Tranche of Financing for Elga Coal Complex
Russian miner Mechel OAO has signed an agreement with Vnesheconombank, allocating the first tranche of the project financing for Elga Coal Complex’s first stage totalling $2.5 billion. The agreement for the $150 million tranche was signed by Vnesheconombank’s Chairman Vladimir Dmitriyev and Chairman of Mechel OAO’s Board of Directors Igor Zyuzin on the sidelines of the session of the government committee on the Far East’s social and economic development, in the presence of Russian Prime Minister Dmitry Medvedev…. read
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Newcrest Mining announced two major changes: the appointment of Peter Hay as the new chairman upon the retirement of the current Chairman Don Mercer in December; and the appointment of Sandeep Biswas as COO, effective January 1. He will also join the board as an executive director from that date. He is expected to succeed Greg Robinson as CEO in the second half of 2014. Hay was appointed to the board in August. Biswas was previously CEO of Pacific Aluminium.
Cliffs Natural Resources appointed Gary B. Halverson, formerly interim COO of Barrick Gold Corp., to the newly created position of president and COO, effective November 18. In addition, he will serve as director on Cliffs' Board. They also announced that James Kirsch, non-executive chairman of the board, has been elected executive chairman of the board. In addition, Joseph Carrabba will retire as president and CEO, and will also step down as a director of Cliffs' Board.
Gindalbie Metals appointed Dale Harris as managing director. Harris succeeds Tim Netscher in line with the company’s previously announced succession plan. Harris most recently held the role of COO for Rio Tinto Iron Ore.
UC RUSAL announced Alexandra Buriko as CFO. Evgeny Nikitin has been named as director of the Aluminium Division East (ADE). Vladimir Polin has stepped down as director of the Aluminum Division East as his contract expired.
Nevada Copper Corp. named Timothy Arnold as vice president, operations. Arnold's past experience includes being the general manager at the Mount Hope and Liberty molybdenum projects for General Moly in Nevada. Prior to that, Arnold was vice president and general manager of Coeur d'Alene Mines. Nevada Copper also appointed Greg French as vice president of exploration and project development. The company also announced the resignation of Foster Wilson as a director.
Rio Alto Mining Ltd. appointed Eduardo Loret de Mola de Lavalle as COO. Previously, he worked for Trafigura Group, where he was corporate manager for the Latin American Technical Division, general manager of their two ongoing operations in Peru, general manager of Empresa Minera del Caribe (Cuba) and general manager for the Latin American Mining Division.
Jonas Wiik has been appointed as the new exploration director at Boliden Mines. He has worked within Boliden for 10 years, including eight within the exploration organization. His most recent position was near mine exploration manager at Boliden Mines. He will succeed Hans Årebäck, who, after four years as exploration director, will now work with business development and strategy within Boliden Mines.
MICROMINE appointed Cole Robillard as business solutions executive.
