AROUND
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Feasibility Study Supports
Integrated Pumpkin Hollow Project Development
Nevada Copper has released the results of a
feasibility study that supports development of
its Pumpkin Hollow project near Yerington,
Nevada, as a single, integrated operation, with
open-pit and underground mines feeding a
70,000-short-ton-per-day (st/d) mill. Metal
production over a 23-year mine life is estimated
at 4.5 billion lb of copper, 512,000 oz of gold,
and 15.6 million oz of silver in copper
concentrates. Initial capital costs...... read
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Energy Fuels Expands Roca
Honda Holdings
Energy Fuels Inc. has entered into a letter of
intent to acquire approximately 4,580 acres of
properties adjacent to the Roca Honda uranium
project in the Grants mineral district of New
Mexico from Uranium Resources Inc. The Roca
Honda project is owned by Roca Honda Resources
LLC, a 60:40 joint venture between Energy Fuels
and Sumitomo Corp. In exchange for the
properties, Uranium Resources will receive $2.5
million in cash, $375,000 in Energy Fuels common
shares, and certain other considerations. Upon
completion of the acquisition, Energy Fuels will
transfer the acquired properties.... read
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Rubicon Pours First Gold at
Phoenix
Rubicon Minerals Corp. reported on June 24 that
the Phoenix gold project poured its first gold
ingot, weighing approximately 741 oz. The
Vancouver, Canada-based company said
construction of the mill had been completed and
mill circuit commissioning was progressing
satisfactorily, processing low-grade mineralized
material. The company expected the commissioning
phase to be completed in early July. In
addition, an initial 8,023 m of planned
underground development at the underground
project, located at Red Lake.... read
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AROUND THE
WORLD - Latin America |
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Las Bambas Signs Transport
Agreement for Copper Concentrates
MMG Ltd. reported on June 10 that Minera Las
Bambas has entered into an agreement with
Perurail for the transport of copper
concentrates produced by the Las Bambas copper
project in the Apurimac region of southern Peru.
Las Bambas is a joint venture between MMG as the
operator (62.5%); Guoxin International
Investment Co. (22.5%); and CITIC Metal Co.
(15%). Construction of the project is nearing
completion. Production of first concentrates is
scheduled for the first quarter of 2016…… read
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Torex Nearing Startup at El
Limon-Guajes Project
Torex Gold Resources is targeting a first gold
pour before year-end 2015 at its El Limon-
Guajes open-pit gold-silver project on its
extensive Morelos gold property in Guerrero
state, Mexico. The processing plant has a
designed throughput rate of 14,000 mt/d.
Production in doré bars for the first 10 years
of mine life is projected to average 337,000
oz/y of gold and 211,000 oz/y of silver. For the
period beyond the first 10 years, efforts will
be made to extend production through exploration
activities by…. read
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AROUND
THE WORLD - Australasia |
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Independence Group
Acquiring Sirius and its Nova Nickel Project
Western Australia mining companies Independence
Group and Sirius Resources announced on May 25
that Independence Group is acquiring Sirius in a
cash and shares transaction that values Sirius
at about A$1.8 billion. Independence Group holds
a 30% interest in the Tropicana gold mine, where
AngloGold Ashanti is 70% owner and operator, and
100% interests in the Long nickel and Jaguar
copper-zinc mines in Western Australia. Sirius’
prime asset is its Nova nickel project, where
mine construction began in January…. read
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Western Areas Buying Cosmos
Nickel Complex From Glencore
Western Areas Ltd. will purchase the Cosmos
nickel complex located 370 km northwest of
Kalgoorlie, Western Australia, from Glencore for
A$24.5 million. The complex includes an inactive
nickel mine; the adjacent, undeveloped Odysseus
highgrade deposit hosting a total mineral
resource of 7.3 million mt grading 2.4% nickel
and containing 174,000 mt of nickel; a
concentrator having 450,000 mt/y of throughput
capacity; and a well-maintained, 500-bed
accommodation village …. read
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Canadian Company Expands
Scope of South Africa’s Platinum Resources
Until recently, it was assumed that South
Africa’s already generous platinum resources
were confined to the Bushveld Igneous Complex,
but it now appears that reserves lies beyond
these confines, thanks to the work of a
Canadian explorer. Platinum Group Metals (PTM)
is a Vancouver-based company developing a mine
in the traditional Bushveld area, but it is
also looking further north in the Waterberg,
better known for large-scale coal deposits.
PTM first announced indications of platinum in
2011, but more recently firmed this up with
the declaration…. read
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Resolute Planning
Sublevel Cave for Syama Underground
Resolute Mining has reported the results of an
updated prefeasibility study (PFS) for
underground mine development below its current
open-pit Syama gold mine in southern Mali. The
updated PFS assumes development of a
large-scale sublevel caving operation and
confirms that an early move to underground
mining in 2016 will produce robust economic
returns. Resolute successfully uses a similar
underground mining method at its Mount Wright
gold mine in Queensland, Australia. The
updated PFS also delivers a significant
increase in Syama’s underground ore reserves….
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Upgrade Boosts Griffin’s
Caijiaying Plant Throughput to 1.5M Tons
Recently commissioned processing facilities at
Griffin Mining’s Caijiaying zinc-gold mine in
China were expected to reach an expanded
nameplate capacity throughput rate of 1.5
million metric tons per year (mt/y) of ore by
the end of June. This level of output was not
possible, explained the London-based company,
before delivery of a new ball mill and
connection of additional grid power. The
company’s production and financial results for
2014 were significantly impacted by a suspension
in processing to…. read
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India’s Government May
Relax Mine Equipment Procurement Rules
The Indian government is considering changing
its procurement rules to provide better
flexibility for domestic miners to shop abroad
for high-end mining equipment, including
longwall technology. According to a senior
government official, Indian producers such as
Coal India Ltd. (CIL) and Singareni Collieries
Co. Ltd. (SCCL) are interested in obtaining
high-tech mining equipment built in Germany,
Poland, Russia, China, and the U.S. to improve
productivity and expand the number of existing
mines that are fully automated…… read
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Supreme Court Rules
Against EPA on Mercury and Air Toxic
Standards
Justices at the U.S. Supreme Court voted
5- 4 June 29 against the U.S.
Environmental Protection Agency’s (EPA)
landmark Mercury and Air Toxic Standards
(MATS) outlines, ruling that the Obama
Administration’s push to limit mercury
and pollutant emissions from coal-fired
power plants failed to consider costs
and compliance issues. The five
conservatives of the court voted in the
majority: Justice Antonin Scalia; Chief
Justice John Roberts; Justice Anthony
Kennedy; Justice Clarence Thomas; and
Justice Samuel Alito. The proposed MATS
regulations will remain in effect as the
case now moves to appeals, where a
decision will …. read
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Buffalo Coal
Considers Restructuring
Troubled producer Buffalo Coal Corp.,
which announced the completion of its
retrenchment in mid-March, said May 22
that it is still looking at
restructuring alternatives at its Dundee
operations in KwaZulu-Natal, South
Africa. The Canadian company, which has
been open thus far regarding its ongoing
financial difficulties, said good recent
news was not enough to offset the
overall picture. "Despite a welcomed
recent increase in productivity,
previous underperformance by Magdalena
underground, the company’s largest
business unit, the depletion of…. read
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Coal
Mine Explosion in East Ukraine Kills
33
On March 4, a methane gas ignition and
subsequent explosion occurred at the
Zasyadko mine with more than 70
workers underground in East Ukraine
(or the self-proclaimed Donetsk
People’s Republic). The bodies of 33
miners killed in the coal mine
explosion were recovered. The
explosion occurred just before 6 a.m.
local time, when 230 people were at
the mine. Of those, 157 were evacuated
in the initial hours after the blast,
including 14 injured and one dead….
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