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IC Potash Nears Construction Start at Ochoa Project
IC Potash Corp. has published the final feasibility study and announced completion and publication of the environmental impact statement (EIS) for its Ochoa potash project 60 miles east of Carlsbad, New Mexico. As of early March, the company was anticipating receipt of a Record of Decision from the U.S. Bureau of Land Management in April and start of project construction during the second quarter of 2014. Capital cost to develop the Ochoa project is estimated at $1.018 billion, with a payback period of 5.4 years. The financial model provides for...... read
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EPA to Further Review Pebble Project
The U.S. Environmental Protection Agency (EPA) announced of February 28, initiation of a 404(c) review process under the Clean Water Act “to identify appropriate options to protect the world’s largest sockeye salmon fishery in Bristol Bay, Alaska, from the potentially destructive impacts” of Northern Dynasty Mineral’s proposed Pebble copper-gold-molybdenum project. Initiation of the 404(c) process followed the January release of the EPA’s “Assessment of Potential Mining Impacts on Salmon Ecosystems of Bristol Bay, Alaska,”.... read more
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Gahcho Kué Diamond Project Remains on Schedule
De Beers and Mountain Province Diamonds reported in late March 2013 that, contrary to news reports, their Gahcho Kué diamond project in Canada’s Northwest Territories remains on schedule for first production in the third quarter of 2016. The project is a joint venture between De Beers Canada (51%) and Mountain Province (49%). De Beers confirmed there had been no change in the project schedule and that “both partners are happy with the progress to date.” A total of approximately 670 truckloads of equipment.... read
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AROUND THE
WORLD - Latin America |
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Overland Pipeline Completion is a Milestone for Sierra Gorda Startup
KGHM International recently announced that construction of a 142-km-long seawater pipeline for its Sierra Gorda mine in Chile has been completed. Sierra Gorda, which will be the world’s seventh largest copper project, is more than 90% complete overall and on target for commissioning and initial production in mid-2014, according to the company. When completed, the project—which is located in Chile’s Antofagasta region, the country’s chief copper producing district— will produce copper, molybdenum and gold ore by open-pit methods. Downstream processing…… read
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Columbus Gold Likes What it Sees in French Guiana
Columbus Gold Corp. has reported two recent developments in French Guiana that have positive implications for its 5.37- million-oz Montagne d’Or gold deposit, which forms part of its more extensive Paul Isnard project. First, French gold producer Auplata SA has received required authorizations to construct and operate a centralized cyanide plant to treat gold gravity concentrates from its various mines and mining sites in French Guiana. Auplata reported that it ultimately intends to establish cyanide plants directly at its mine sites…. read more
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AROUND THE
WORLD - Australasia |
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Roy Hill Secures Long-term Project Financing
Roy Hill Holdings has signed a $7.2 billion long-term financing agreement that completes necessary funding for its $10 billlion, 55-million metric tons per year (mt/y) Roy Hill iron ore mining project in the Pilbara region of Western Australia. The agreement comprises loans and guarantees from five Export Credit Agencies and a consortium of 19 commercial banks from Australia, Japan, Europe, China, Korea and Singapore. Substantial support from Japan Bank for International Cooperation, Korea Eximbank, Korea Trade Insurance Corp., Nippon Export…. read
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Vista’s Mount Todd Agreement Extended for Three Years
Vista Gold Corp.’s agreement with the Northern Territory of Australia for Vista’s Mount Todd gold project has been extended for an additional three-year period to December 2018. Additionally, the company reported progress on the environmental impact statement (EIS) permitting process for the project and has updated the resource estimate for the Quigleys deposit, a satellite deposit to the project’s main Batman deposit. Vista President and CEO Fred Earnest said, “The advanced stage of our technical studies together with this …. read
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Vale Nearing Completion of Malaysian Distribution Hub
Vale’s Teluk Rubiah Maritime Terminal and iron-ore distribution center, currently commissioning in Malaysia, received its first Valemax iron ore carrier, the Berge Everest, on March 24. The vessel’s arrival marked an important milestone as Vale looks toward completion of the distribution hub by the second half of 2014. The Berge Everest embarked from Brazil on its maiden voyage to Malaysia loaded with 382,500 metric tons (mt) of iron ore. The unloaded ore will be stored in the distribution center for future commercial shipments. With a total investment of….
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Mongolia’s Mines Minister Predicts Exploration Licensing Restart
A moratorium on new mining exploration licenses in Mongolia could be lifted during the spring session of parliament as the north Asian country attempts to lure back foreign investment. A ban on the issuing and processing of licenses has been in place since June 2010, leaving many projects in limbo. Mongolia Mines Minister Gankhuyag Davaajav told a gathering in Toronto earlier this year that the impasse could change if parliament next month addresses discrepancies in previous mining laws. “I do believe in the spring…. read
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Barrick Sells Part of its African Barrick Stake
Barrick Gold announced on March 11, that it had sold 41 million shares of its holding in African Barrick Gold, raising gross proceeds of about $188 million. Following the sale, Barrick still held approximately 262 million ordinary shares of African Barrick, representing approximately 64% of the company. Barrick Gold President and CEO Jamie Sokalsky said, “After this transaction, Barrick will still be a controlling shareholder…. read more
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Waterberg PEA Describes Potential Major PGM Mine
Platinum Group Metals has reported results from an independent preliminary economic assessment (PEA) of the Waterberg Joint Venture project in northern South Africa. The project is based on a blind discovery under cover of rocks off the north end of the Northern Limb of the Bushveld Complex. The PEA describes a shallow, underground mining project that would produce 655,000 oz/y combined of platinum, palladium and gold (3E)l……
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Grootegeluk Back on Track after Heavy Rains
Exxaro reported that its Grootegeluk mine in South Africa was impacted by the higher than normal, heavy rains experienced in early March. Production fell to 70% of normal levels by mid-March during the worst of the rains, however, since then production has steadily increased and returned to normal. There has been no material impact on the supply of coal to the Matimba power station, nor to other customers, including the export market. This is due to the availability of sufficient stockpiles, which were used …. read more
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Alpha, Subsidiaries Pay Record Environmental Settlement
Alpha Natural Resources, Alpha Appalachian Holdings (formerly Massey Energy) and 66 subsidiaries will pay $200 million for installation and operation of wastewater treatment while upgrading cross-system discharge reduction after polluting hundreds of Appalachian rivers and streams under a Clean Water Act (CWA) settlement, said federal officials. Upgrades will reduce discharges of total dissolved solids by more than 36 million lb/yr, and will cut metals and other pollutants by approximately 9 million lb/yr in Kentucky, Pennsylvania …. read more
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ACWA to Build Power Plant in Mozambique
The Saudi Gazette reported that the Mozambican government and the Saudi ACWA Power signed a concession agreement in Maputo for the construction of a coa-fired power station in Moatize district, in the western province of Tete. The power station, which will produce 300 MW in its first phase, will be built at the mouth of the gigantic open-cast coal mine in Moatize, operated by Vale. It will…. read
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