AROUND THE
WORLD - USA & CANADA |
|
|
|
Detour Gold Updates Detour Lake Life-of-Mine Plan
Detour Gold has announced an updated life-of-mine plan for its 100% owned Detour Lake open-pit mine in northeastern Ontario. The mine poured its first gold in February 2013 and reached commercial production in September 2013. Production during 2013 totaled 232,287 oz of gold, and production during 2014 is forecast at between 450,000 and 500,000 oz of gold at an estimated total cash cost of $800 to $900/oz of gold sold.... read
more |
|
|
Silver Standard Buying Marigold Mine from Goldcorp, Barrick
Silver Standard Resources agreed in early February to purchase the Marigold gold mine in northern Nevada from subsidiaries of Goldcorp and Barrick Gold for $275 million in cash. Goldcorp is 66.7% owner and operator of the mine; Barrick holds the remaining 33.3%. The transaction is expected to close in April. The Marigold mine is an open-pit, heap leach operation at the northern end of the Battle Mountain-Eureka trend in Humboldt County, Nevada. The mine produced 162,000 oz of gold in 2013 and is expected to produce between 142,000 and 150,000 oz in 2014... read more
Top
|
|
|
Rubicon Finishes Shaft Sinking at Phoenix Gold
In a project update issued February 21, Rubicon Minerals reported that it completed shaft sinking at its Phoenix gold project in the Red Lake district of Ontario in mid-December 2013. The project is expected to produce an average of 165,300 oz/y over a mine life of 13 years. Diluted head grade to the mill will be 8.1 g/mt gold, mill throughput will be 1,900 mt/d, and all-in sustaining costs are estimated at $805/oz. The new Phoenix shaft has a total depth of 730 m below surface. The installation of a loading pocket on the.... read
more |
|
|
AROUND THE
WORLD - Latin America |
|
|
|
First Quantum Targeting 320,000 mt/y Copper at Cobre Panama
First Quantum Minerals has reported updated project operating parameters, a new development time-frame, and a revised capital cost estimate for its 80% owned Cobre Panama copper-gold-silver-molybdenum project in the Republic of Panama. The new project objectives are based on an intensive review initiated by the company when it acquired its interest in the project from Inmet Mining in March 2013. The remainder of…… read
more |
|
|
Trevali Achieves Commercial Production at Santander
Trevali Mining’s Santander zinc-lead-silver operations in Peru achieved commercial production in February. According to a company announcement, the Santander mill was operating consistently and without significant interruption at production rates exceeding 70% of design capacity and was producing concentrates that met saleable concentrate specifications. Mill throughput was being ramped up to nameplate capacity of 2,000 mt/d. Trevali announced production guidance for Santander…. read more
|
|
|
|
AROUND THE
WORLD - Australasia |
|
|
|
Saracen Acquiring Idle Norilsk Gold Operations in Western Australia
Saracen Mineral Holdings is acquiring Norilsk Nickel’s Thunderbox and Bannockburn gold operations in Western Australia’s North-Eastern Goldfields. The operations are inactive and have been on care and maintenance since 2007. The acquisition includes a modern, 2.5-million-mt/y, carbon- in-leach gold treatment plant adjacent to the Thunderbox mine and extensive supporting infrastructure, including a 268- person accommodation village and an…. read
more |
|
|
Alkane Pours First Gold at Tomingley Alkane Resources’ newly developed Tomingley gold mine in New South Wales poured its first gold bar in mid-February, following successful commissioning of the stripping and elution circuit of the processing plant. The first pour, weighing 8.191 kg and containing approximately 230 oz of gold, was the final milestone in delivering the project on time and on budget. Tomingley is located in the central west region of New South Wales, 425 km west of Sydney. The medium-sized open-pit and underground project has approximately 921,000 oz of gold in current defined resources and will produce …. read
more
Top |
|
|
|
|
Centerra Completes Öksüt PEA, Kumtor Ownership Talks Continue
Centerra Gold has completed a preliminary economic assessment (PEA) of its 100% owned Öksüt project in south-central Turkey. The PEA envisions a conventional open-pit and heap leach facility with an expected total of 34 million mt of ore to be stacked at a maximum rate of 11,000 metric tons per day (mt/d). Highlights of the PEA, using a $1,300/oz gold price, include….
read
more
|
Eldorado Gets Investment Support for Eastern Dragon Project in China
CDH Investments, a leading Chinese private equity company, is acquiring a 20% interest in Eldorado Gold’s Eastern Dragon project in Heilongjiang province, northeast China, for $40 million in cash. Following a new share issuance, CDH will own a 21.05% interest in Sino Gold Tenya (HK) Ltd., Eldorado’s wholly owned Hong Kong subsidiary, which indirectly holds the company’s 95% interest in Eastern Dragon. Eastern Dragon has been on care and maintenance pending receipt of outstanding permit approvals. Eldorado anticipates that CDH’s participation will assist in the…. read
more
|
|
|
|
Ambatovy Nickel-Cobalt Project Goes Commercial
Sherritt International reported on January 22, that the Ambatovy laterite nickelcobalt project in Madagascar had reached commercial production. The project is a vertically integrated mining, processing, refining, and marketing joint venture between subsidiaries of Sherritt (40% ownership), Sumitomo (27.5%), Korea Resources (27.5%), and SNC-Lavalin (5%). Sherritt is the operator. Sherritt defined commercial production at Ambatovy as ore throughput averaging 70% of nameplate capacity in the pressure acid leach circuit over a 30-day period, at which point all revenue…. read more
|
|
|
AngloGold Ashanti Selling Navachab Mine in Namibia
AngloGold Ashanti reported on February 10, the signing of a binding agreement to sell its Navachab open-pit gold mine in Namibia to QKR Corp. for $110 million. QKR is a private equity company, and purchase of the Navachab mine is its first acquisition. The company’s president, Lloyd Pengilly, is a former Johannesburg gold analyst……
read more
Top
|
|
|
|
Westmoreland Reports Improvement
Amid improved safety and operational performance, Westmoreland Coal Co. reported record 2013 revenues ($675 million) in wake of its recent Sherritt acquisition. The company expects to produce 28 million tons in 2014. Moreover, as reportable incidents fell from 78.1% to 56.4% year-on-year, representatives voiced enthusiasm over balance sheet prospects. "Our strong operating cash flows set the stage for the transaction," said Executive Chairman Keith E. Alessi, referring to the Colorado miner’s Sherritt…. read more
|
|
|
|
Oregon Issues 3 Permits for Coyote Island Terminal The Oregon Department of Environmental Quality has issued air quality, water quality and construction stormwater permits associated with the proposed Coyote Island Terminal coal export project in Boardman, also known as the Morrow Pacific project. "By issuing these three permits after a rigorous process, the Department of Environmental Quality has affirmed that the project complies with environmental rules and regulations of the state of Oregon," said Clark Moseley, CEO, Morrow Pacific project…. read more
|
|
|
Mechel Upgrades Port Posiet
Russian coal mining company Mechel is testing a new coal terminal, Port Posiet, in Russia’s Primorye region. A $128 million port upgrade will enable the company to significantly enhance Asia-Pacific exports; industrial operation will begin in Q2 2014. The first stage includes revamping cargo turnover provisions up to 7 million mt/y. The upgrade allow the port to load 28,000 mt/d of coal. The equipment was provided by ThyssenKrupp AG, which is overseeing start-up and commissioning…. read
more |
|
|
|