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Canadian junior to fast-track San Juan copper/gold project
Published: 21 Nov 18
The Josemaria copper/gold project in the Andes mountains of San Juan, Argentina, will be on an accelerated development schedule, as Canadian junior NGEx Resources moves to elevate the project to construction-ready level amid a global scarcity of such projects. With the long-term copper fundamentals strong and the global project pipeline at multi-decade lows, NGEx believes that construction-ready projects will attract premium valuations, CEO Wojtek Wodzicki said on Tuesday, announcing the outcomes of a prefeasibility study for Josemaria.
IronRidge raises £5.40m for African mines’ development
Published: 21 Nov 18
Aim-listed IronRidge Resources has raised about £5.4-million before expenses through the issue of about 27-million shares at a price of 20p apiece. The funds will be used to develop the company’s gold and lithium projects in Ghana, Chad and Côte d'Ivoire.
Columbus says no EU ban on use of cyanide in gold mines
Published: 21 Nov 18
TSX-listed Columbus Gold has clarified that there is no European Union (EU) ban on the use of cyanide in gold mining and that it will be able to use cyanide at its Montagne d’Or gold project, in French Guinea, which is a region of France. The company issued the statement on Tuesday, in response to inquiries received from shareholders and stakeholders concerning an alleged ban on the use of cyanide for gold mining in the EU.
Leagold restarts RDM
Published: 21 Nov 18
The RDM mine in Brazil has restarted, with the processing facility on Tuesday operating at its normal 7 000 t/d rate. The confirmation of the successful restart comes after Leagold said last week that it was recalling its workforce following the build-up of sufficient water volumes to support operations at the mine.
Oil halts slide as signs of stockpile drop counter Opec doubts
Published: 21 Nov 18
Oil halted a slide near $54 a barrel as investors weighed industry data that showed US crude inventories unexpectedly fell last week against doubts over Opec’s plans to cut output. Futures in New York rose as much as 2%, after plunging more than 6% on Tuesday. The American Petroleum Institute was said to report a 1.55-million-barrel drop in stockpiles last week, compared with a gain forecast in a Bloomberg survey before official data. Meanwhile, US President Donald Trump said Saudi Arabia has been “very responsive” to his requests to keep prices low, calling into question Opec’s resolve to trim supply.
Poplar Grove to strike coal by December
Published: 21 Nov 18
Coal developer Paringa Resources is expecting to intersect first coal at its Poplar Grove mine, in the Illinois basin, Kentucky, by mid-December. The ASX-listed company on Wednesday told shareholders that mine ventilation and key surface infrastructure at the project have been successfully completed, with the delivery of underground mining equipment on track ahead of the start of mining activities.
Rio forecasts new aluminum capacity will be needed outside China
Published: 21 Nov 18
Aluminum producers will need to build additional smelting capacity outside of China as inventories run down in the coming two to three years, according to Rio Tinto Group. “We see aluminum demand growth being extremely healthy,” Alf Barrios, Rio’s aluminum chief executive officer, said in an interview. “People believed China was going to be a significant net exporter to the rest of the world in the future, I think people now see China being more balanced.”
Pebble project secures access for construction Pebble project secures access for construction
Published: 21 Nov 18
The Pebble Limited Partnership (PLP) has secured the right to use portions of the Alaska Peninsula Corporation (APC) land for the construction and operation of transportation infrastructure associated with the proposed mine. PLP, a wholly owned subsidiary of Canadian junior Northern Dynasty, secured the rights through an agreement an Alaska Native village corporation with extensive land holdings near the Pebble site.
Law Ministry advises against legislation changes to resume Goa iron-ore mining
Published: 21 Nov 18
India’s Law Ministry has opined that the government should not resort to legislative changes to bring closed iron-ore mines back into operation in the western coastal state of Goa. The Law Ministry in a communication to counterparts in the Mines Ministry said that there was no “legislative cure” for the resumption of operations at about 88 iron-ore mines in Goa closed down by order of the Supreme Court in February this year, on grounds that the mine lease renewals by the Goa government were in violation of the Mines, Minerals Development and Regulation Act (MMDRA) 2015, which made the auction route mandatory for allocation of mining leases.
KV1 grade at BlueRock’s Kareevlei exceeds expectations
Published: 20 Nov 18
Aim-listed BlueRock Diamonds has recorded a grade of 4.51 carats per hundred tonnes (cpht) at KV1 – one of five known diamondiferous kimberlite pipes at its Kareevlei mine, near Kimberley, in South Africa. It is currently mining from two pipes at Kareevlei – KV1 and KV2.
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