AROUND THE
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Fort Hills Oil Sands Project Gets Go-ahead
Suncor Energy, Total E&P Canada and Teck Resources have voted to proceed with the Fort Hills oil sands mining project in Alberta’s Athabasca region, 90 km north of Fort McMurray. The project is owned 40.8% by Suncor, 39.2% by Total, and 20% by Teck. Suncor is the developer and operator of the project via an operating services contract. The Fort Hills project is scheduled to produce its first oil as early as the fourth quarter of 2017 and to achieve 90% of its planned production capacity of...... read
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AuRico Goes Commercial at Young-Davidson Underground
AuRico Gold achieved commercial production at its Young-Davidson underground mine in northern Ontario effective October 31, following successful commissioning of the shaft and hoisting infrastructure. The commissioning marked a key project milestone, according to the company—unlocking the potential of the Young-Davidson underground mine and supporting increased underground production and favorable unit cost efficiencies over the life of the mine.... read more
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Mosaic Acquiring CF Industries’ Phosphate Business
The Mosaic Company and CF Industries have signed a definitive agreement where Mosaic will acquire CF’s phosphate business for $1.2 billion in cash plus $200 million to fund CF’s asset retirement obligation escrow. Under the terms of the agreement, Mosaic will acquire CF’s 22,000-acre South Pasture phosphate mine and beneficiation plant in Hardee County, Florida; its phosphate manufacturing facility in Plant City, Florida; and its ammonia terminal and finished product warehouse facilities in Tampa, Florida.... read
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AROUND THE
WORLD - Latin America |
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Barrick Halts Pascua-Lama Construction
Barrick Gold announced in conjunction with the release of its third-quarter 2013 results that it has temporarily suspended construction activities at its cross-border Chile/Argentina Pascua-Lama gold-silver project, except activities required for environmental protection and regulatory compliance. Barrick suspended construction work on the Chilean side of the project in April to address environmental and other regulatory requirements to the satisfaction of Chilean authorities. The current decision applies to the entire project…… read
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Tahoe Nears Full Production at Escobal
Tahoe Resources reported on November 12 that it expects mine production at its underground Escobal silver project in southeast Guatemala to reach full production of 3,500 mt/d during the first quarter of 2014. The project produced its concentrate on September 30 and shipped its first concentrate on October 15. At the end of the third-quarter of 2013, 10 Escobal stopes were available for production, and an additional 10 stopes were in final development. Stockpiled mill feed totaled 97,250 mt at an estimated grade of 487 g/mt silver, 0.4 g/mt gold, 0.7% lead and 1.3% zinc…. read more
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AROUND THE
WORLD - Australasia |
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PanAust Buying Glencore Xstrata’s Frieda River Interest
PanAust Ltd. has entered into an agreement with Glencore Xstrata (Glencore) for PanAust to purchase Glencore’s 80% interest in the Frieda River copper-gold project in Papua New Guinea. Highlands Pacific Ltd. Holds the remaining 20% of the project. At the same time as its entry into the PanAust/Glencore agreement, PanAust entered into an agreement with Highlands Pacific to purchase a 7.5% interest in the company. This placement is unconditional. Subject to completion of the PanAust/ Glencore agreement, the PanAust/Highlands agreement provides the framework for the future relationship between PanAust and…. read
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Sandfire Looking for More Ore near DeGrussa Sandfire Resources has reached an agreement to secure up to an 80% interest in the Thaduna/Green Dragon copper project 40 km east of its 100%-owned DeGrussa copper mine in Western Australia through a farm-in and joint venture with Ventnor Resources. The project produced its first copper concentrate during commissioning of its 1.5-million-mt/y concentrator in late September 2012. The project was officially opened in early August 2013…. read
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Alacer Plans Development of Çöpler Sulphides
Alacer Gold announced in early November its intention to employ whole ore pressure oxidation to process the refractory sulphide ores at its 80% owned Çöpler gold mine in Erzincan province, eastern Turkey. Alacer currently mines and heap leaches Çöpler oxide ores, with 2013 production expected to be in the range of 192,000 to 200,000 oz. Alacer said an exhaustive technical review confirmed that pressure oxidation processing provides the best economic return….
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Mongolia Revokes 106 Mineral Exploration Licenses
Kincora Copper, a Canadian junior company headquartered in Vancouver, British Columbia, reported on November 6, that the Mineral Resources Authority of Mongolia (MRAM) had revoked 106 mineral exploration licenses, including the Tourmaline Hills and North Fox licenses wholly owned by a Kincora subsidiary company, Golden Grouse LLC. Kincora’s flagship Bronze Fox license remained in good standing. The revocation of the licenses was effective October 30…. read
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Ivanhoe Planning Two-phased Development for Kamoa
Ivanhoe Mines has reported the results of an independent preliminary economic assessment (PEA) that proposes two phases of development for its Kamoa copper project in Katanga province, Democratic Republic of the Congo (DRC). The first phase targets underground mining of 3 million mt/y of high-grade copper ore and production of about 100,000 mt/y of copper in concentrate for sale to smelters. The second phase entails a major expansion of the mine and concentrator and construction…. read more
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Sibanye Gold and Harmony Exchange Some Mining Rights
Sibanye Gold and Harmony Gold have entered into an agreement for the exchange and sale of certain mining right portions of Sibanye’s Beatrix operation and Harmony’s Joel operation in the Southern Free State, South Africa. Sibanye will exchange two mining right portions at Beatrix that are not included in its current life-of-mine (LOM) profile for two mining right portions at Harmony’s Joel operation that will be more readily accessible from the Beatrix North and South sections.……
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Peabody Moves Lee Ranch Dragline to El Segundo
Peabody Energy’s 8-million-lb dragline completed a historic journey from the company’s Lee Ranch mine northwest of Grants, New Mexico, more than 20 miles to its new home at the El Segundo mine. One of the world’s most massive machines, the 1570-W dragline crossed the high desert, carried by a specialized 600-wheel vehicle. NASA uses a similar transportation method to haul space shuttles. Transporting a machine of this size required precision and planning, said Brad Brown …. read more
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Sherritt Ordered to Clean Up Coal Sediment Spill
Regulators in Alberta have ordered Canadian miner Sherritt International Corp. officials to clean up and investigate a 670,000-m3 leak of coal mine process water into a local river. The water—containing clay, mud, shale and coal fines— spilled into the Athabasca River after an onsite water containment pond breach at the Obed Mountain mine near Hinton on October 31. The sediment plume, traveling at less than 2 km an hour, now lies about 128 km upstream from the oil sands production hub of Fort McMurray in northern Alberta …. read more
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BHP Sells Navajo Mine
BHP Billiton officials have announced the sale of their Navajo mine, located near Fruitland, New Mexico, USA, to the Navajo Transitional Energy Co. (NTEC), which, upon approval by Four Corners Power Plant owners for supplies through 2031, will take effect on December 1. BHP will operate the plant through 2016, and the project is estimated to generate more than $5 billion in local economic growth. Representatives at BHP hailed the development. "BHP is pleased to have worked with the Navajo Nation to secure the mine and the benefits it provides to the Navajo Nation…. read
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