AROUND THE
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Richmont Considering Deeper Mining at Island Gold
Richmont Mines has completed a preliminary economic assessment (PEA) of development of mineral resources between the 450- and 860-m levels below surface at its currently operating underground Island Gold mine 83 km northeast of Wawa, Ontario. The PEA considered an 800-metric- tons-per-day (mt/d) mining operation. The Island Gold mine is accessed via ramp from surface and is mined by longhole stoping...... read
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PEA Supports Renewed Mining at Sleeper Property
Paramount Gold Nevada has announced the results of a preliminary economic assessment (PEA) of its 100% owned Sleeper gold project in northwest Nevada. The project includes the historic Sleeper open-pit mine, which operated from 1986 to 1996 and produced 1.66 million oz of gold and 2.3 million oz of silver. Metal Mining Consultants (MMC) conducted the Sleeper PEA. The study’s basecase scenario assumes open-pit mining and a 30,000-mt/d heap-leach facility having throughput capacity of about 11 million mt/y. Production would average 102,000 oz/y of gold and 105,000 oz/y... read more
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Western Potash Planning Pilot-scale Start at Milestone
PolyMet Mining reported in early November that the Final Environmental Impact Statement (EIS) for its NorthMet polymetallic mining project in northeast Minnesota has been completed and posted on the Minnesota Department of Natural Resources (DNR) website. The EIS process was led by the DNR, the U.S. Forest Service, and the U.S. Army Corps of Engineers. The U.S. Environmental Protection Agency was actively involved as a cooperating federal agency. Three Minnesota Chippewa bands also participated as cooperating entities. The Minnesota Pollution Control Agency was actively involved in the EIS process regarding matters such as wate.... read
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AROUND THE
WORLD - Latin America |
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Pilot Tests Produce Ferronickel for Horizonte
Horizonte Minerals announced in early November completion of an integrated rotary kiln-electric furnace pilot plant campaign on ore from its 100% owned Araguaia laterite nickel project in Parà state, Brazil. The pilot campaign was conducted at the Morro Azul pilot plant in Minas Gerais state. The Morro Azul plant was originally built by Anglo American and is now operated by Morro Azul in association with IGEO of Sao Paulo, Brazil. The facility has been used by a number of major nickel companies, including Vale and Anglo American…… read
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Coeur Reports Enhanced Outlook for Palmarejo
Coeur Mining has reported positive results from an updated NI 43-101-compliant technical report on its Palmarejo silvergold mining complex in western Chihuahua state, Mexico. The report incorporates the Independencia Este deposit, which Coeur acquired when it purchased Paramount Gold and Silver Corp. in April. The updated mine plan calls for production of approximately 5.9 million oz/y of silver and 94,000 oz/y of gold over a seven-year mine life. Pre-tax net cash flow of $305 million represents a fourfold increase from the $75 million of pretax net cash flow in the previous Palmarejo…. read more
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AROUND THE
WORLD - Australasia |
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Newmont Expanding Tanami Gold Production
Newmont Mining has announced plans to expand its underground Tanami gold mine in Australia’s Northern Territory by opening a second decline to the mine and increasing plant throughput capacity. The project will lift Tanami gold production by approximately 80,000 ounces per year (oz/y) to between 425,000 and 475,000 oz/y at all-in sustaining costs of between $700 and $750/oz during its first five years of operation. First commercial production from the expansion is scheduled for the second half of 2017…. read
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Metals X’s Central Murchison Project Pours First Gold
Metals X Ltd. poured the first gold doré bar at its Central Murchison gold project in Western Australia on October 26. The bar weighed 11.76 kg and was predominately derived from gravity concentrates. The Central Murchison project is mining several historically mined properties, with ore trucked to and processed at the existing, 2-million-mt/y Bluebird plant. Metals X acquired the plant in 2014 and has made it the centerpiece of its Central Murchison development strategy. The plant has been fully recommissioned, is currently being optimized, and is operating at an average throughput rate of …. read
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Paragon’s Lesotho Projects to Focus on High-value Diamond Production
For all their status as a coveted jewel, diamonds have never really matched gold as an investment quality mineral; some wealthy investors now, however, are betting that this is set to change. U.K.-based Paragon Diamonds is developing the Lemphane and Mothae projects in the tiny mountain kingdom of Lesotho. Among the company’s backers is a consortium of well-connected Gulf Arab investors who intend to….
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Kinross Considering Two-phased Expansion for Tasiast
Kinross Gold is completing early-stage engineering work on a potential two-phased expansion at its Tasiast gold mine in northwest Mauritania. A feasibility study of an initial Phase One expansion to increase mill throughput capacity from the current 8,000 mt/d to 12,000 mt/d is scheduled for completion in the first quarter of 2016. Following deferral in early 2014 of a previously studied 38,000-mt/d mill expansion…. read
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Centerra’s Öksüt Gold Project Receives Environmental Approval
Centerra Gold reported that the environmental impact assessment (EIA) for its 100% owned Öksüt gold project in south-central Turkey has received final approval from the Turkish Ministry of Environment and Urbanization. The project is planned to produce a total of 895,000 ounces (oz) of gold over an eight-year mine life, including an average of 155,000 oz/y during the first four years. Pre-production expenditures and construction capital to develop the project are…. read more
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Mesco On Track for Opening Cambodian Gold Mine
Indian mining company Mesco Gold seems set to operate Cambodia’s first commercial mine, with infrastructure at the Phum Syarung mine in Ratanakiri Province advanced and government approvals pending. Mesco has established the required surface-level infrastructure and has submitted its environmental impact assessment. It said it can begin extracting ore within weeks of receiving its production license, although it could take up to a year before gold production begins ……
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Former Massey CEO Blankenship Convicted
Don Blankenship, the ex-executive of Massey Energy charged with one conspiracy and two securities charges stemming from the 2010 Upper Big Branch mine explosion in West Virginia, was found guilty of one misdemeanor charge of conspiracy. After deliberating for nearly 10 days, a 12-member federal jury returned a split verdict: guilty of conspiracy for federal safety regulation violations, and two decisions of not guilty for charges of making false statements to securities officials and company shareholders. The trial was wrapped relatively quickly; jury selection began on October 1 and the jury heard evidence …. read more
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Bowie Acquires Twentymile and El Segundo Mines
Bowie Resource Partners plans to purchase the El Segundo and Lee Ranch mining complexes in New Mexico and the Twentymile mining complex in Colorado from Peabody Energy for $358 million in cash plus the assumption of $105 million in liabilities. This acquisition will nearly double the size of Bowie’s production output to 25 million tons per year (t/y), making it the largest bituminous coal producer in the western United States. This will also generate top line revenues of $1 billion annually. Bowie will operate five mining complexes in Colorado, New Mexico and Utah, employing more than 1,700 people…. read more
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Eskom Terminates Supply Deal with Exxaro
After two years of talks and disagreements on its 40-year-long coal supply agreement, Eskom has confirmed that the pair’s longtime coal deal will not be renewed. The existing contract was due to expire this month, and Eskom confirmed this week that it would no longer take coal as of December 31. Earlier this year, Eskom told Exxaro that the price for its coal, which Eskom used to fuel its Arnot power plant, was too high. Despite entering into a memorandum of understanding (MoU), negotiations dissolved; subsequently, Eskom advised Exxaro to commence closing the Arnot mine …. read more
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