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Pretium Advances Engineering Work on Brucejack Gold
Pretium Resources has reported the results of a positive, NI 43-101-compliant feasibility study of the high-grade gold and silver resources identified to date at its 100%-owned Brucejack project in northern British Columbia. The feasibility study was prepared by Tetra Tech. Pretium also noted it is continuing to advance engineering for the Brucejack project in support of the ongoing permitting process and anticipates filing its application for an...... read
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Royal Nickel Reports Positive Results for Dumont Project
Royal Nickel has reported positive results for a bankable feasibility study of its Dumont open-pit nickel project 60 km northeast of Rouyn-Noranda in western Quebec. The study considers a project having initial nickel production of 73 million lb/y, expanded in year five to 113 million lb/y for the remainder of the 20-year mine life. Cash costs net of cobalt and platinum group metal byproducts are estimated at $4.01/lb of nickel during the initial phase of production and $4.31/lb over the project life. Capital expenditure to develop the Dumont project is estimated at $1.2 billion. Royal Nickel currently.... read more
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Energy Fuels Acquiring Strathmore Minerals
Energy Fuels and Strathmore Minerals have entered into a definitive agreement, where Energy Fuels will acquire Strathmore in an all-share transaction that values Strathmore at about $29 million. Energy Fuels operates the White Mesa uranium mill near Blanding, Utah. The mill is the only conventional uranium mill currently operating in the United States and has the capacity to process 2,000 st/d of uranium ore. The company also has assets located throughout the western United States, including producing mines and mineral properties.... read
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Hudbay Secures Fleet Financing
Hudbay Minerals has received a commitment from Caterpillar Financial to provide an equipment financing facility for the mobile fleet at Hudbay’s Constancia openpit copper project in southern Peru. The facility will cover approximately $130 million of equipment manufactured by Caterpillar and others, subject to completion of definitive documentation. Loans pursuant to the facility are expected to have a term of six years and to be secured by the Constancia mobile fleet. Completion of the facility is expected…… read
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Kinross Walks Away from Fruta del Norte
Kinross Gold announced on June 10 that, due to failed negotiations with the government of Ecuador, it will not proceed with further development of the Fruta del Norte gold project in southeast Ecuador. "After more than two years of negotiations on exploitation and investment protection agreements for the project, the government of Ecuador and Kinross have been unable to agree on certain key economic and legal terms which balance the interests of all stakeholders," the Kinross announcement said. "Therefore, despite…. read more
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Vista Reports PFS and Reserve Increase for Mount Todd
Vista Gold has reported positive results for a new preliminary feasibility study (PFS) of its Mount Todd open-pit gold project in Northern Territory, Australia. The PFS evaluates two development scenarios: a 50,000-mt/d base case that develops more of the Mount Todd resource and generates a larger net present value (NPV) and a smaller, higher-grade, 33,000-mt/d alternate case that focuses on maximizing return and operating…. read
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Macmahon’s CSA Mine Shaft-sinking Contract Terminated
Macmahon Holdings reported on June 5 that its contract for a major shaft-sinking project at Glencore Xstrata’s CSA underground copper mine in Cobar, New South Wales, had been terminated by the client. Macmahon said it was seeking clarification as to the reasons for and consequences of the termination and would advise of the impact on its stock market guidance once details are known. The CSA project was expected to contribute approximately A$6 million of revenue …. read
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Petropavlovsk Extending Development Period for Pressure Oxidation Hub
Petropavlovsk plc announced in mid- May that it is extending by 12 to 18 months the development period for the pressure oxidation hub and related flotation plant it is building at its Malomir operations in Russia’s Far East. Petropavlovsk is Russia’s second-largest gold producer and is listed on the Main Market of the London Stock Exchange. The company produced 710,400 oz of gold in 2012 and is forecasting 2013 production of 760,000 to 780,000 oz from a….
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Oyu Tolgoi Export Startup Back on Track
Rio Tinto officials announced on June 20 that they expected to soon begin export shipments of production from the $6.2- billion Oyu Tolgoi copper-gold mine in Mongolia, after reportedly resolving differences with the government over handling of export revenues from the operation. The media, traders and government officials had earlier been invited to a ceremony at the South Gobi Desert site to witness the first exports to China, according to Reuters. But the event was canceled due to ongoing negotiations between the mine operator…. read
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Endeavour Targeting Q1 2014 Start at Agbaou Gold
Endeavour Mining reports that construction of its Agbaou gold mine in Côte d’Ivoire is on budget and on schedule for production to begin during the first quarter of 2014. Gold production is expected to average 103,000 oz/y over an eightyear mine life. The open-pit mine and gold plant are designed to mine and treat 1.6 million mt/y of saprolite ore or 1.34 million mt/y of bedrock ore. The plant design incorporates a conventional gravity and CIL circuit for a gold recovery rate of 92.5%…. read more
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South African Leaders Agree to Framework for Sustainable Mining
South Africa’s Deputy President Kgalema Motlanthe chaired a meeting of leaders of mining companies, labor unions and the government’s ministers of finance, labor and mineral resources on June 14, with a goal of bringing all of the parties together to work toward ensuring the sustainability of South Africa’s mining industry. They emerged from the meeting with a 10-page "Draft Framework Agreement for a Sustainable Mining Industry Entered into by Organized Labour, Organized Business, and Government……
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Alpha Natural Resources Opens Running Right Leadership Academy
Alpha Natural Resources opened its Running Right Leadership Academy, a comprehensive, state-of-the-art education and training facility for mine safety and operations. "The success of our company and industry starts with safety," said Kevin Crutchfield, chairman and CEO of Alpha Natural Resources. "The Running Right Leadership Academy is the culmination of years of planning and hard work, and we are proud to have brought this concept to reality. The scale and scope of the facility is the first of its kind in the industry, demonstrating our leadership and commitment to the wellbeing of our employees.
" Located in Julian, West Virginia, USA, Alpha has invested approximately $23 million into the facility and development of the curriculum, which is extensive and integrates a broad range of subject areas including technical, safety and leadership skills. It will be a resource for miners who work underground, as well as surface miners and office support personnel …. read more
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Teck Resourceshas appointed Ian Kilgour executive vice president and COO. Since February 2011, he has served as Teck’s senior vice president, coal. The company has appointed Dale Andres senior vice president, copper. Andres joined Teck in 1995 and most recently held the position of vice president, copper strategy and North American operations. He succeeds Roger Higgins, who is retiring.
Dominion Diamond Corp. has appointed Chantal Lavoie president and COO of Dominion Diamond Ekati Corp.
ArcelorMittal has appointed Bill Scotting chief executive of Arcelor- Mittal Mining. Peter Kukielski, who has been chief executive since December 2008, is leaving the company.
Goldcorp Inc. has appointed Charlene Ripley executive vice president and general counsel .
Fairmount Minerals has appointed Jennifer Deckard president and CEO. She is replacing Chuck Fowler who is retiring. Fowler will continue as a director and as chairman of the Executive Committee of the Fairmount Board.
The Mining Association of Canada (MAC) announced that Zoë Yujnovich , president and CEO of Canada’s largest iron ore producer, the Iron Ore Company of Canada, has been elected chair of MAC for a two-year term. She is the association’s first female chair in its 78-year history. She replaces Ian Pearce, former CEO of Xstrata Nickel, who served as chair from June 2012 until his resignation from Xstrata Nickel in May 2013. Yujnovich has been an active member of the MAC board of directors and Executive Committee since 2010 as first vice chair.
Fernando Alanis , CEO of Industrias Peñoles, S.A.B. de C.V., the world’s largest producer of refined silver, based in Mexico, has been elected president of the Silver Institute by its members. He succeeds Geoff Burns, president and CEO of Pan American Silver Corp., whose term as the Silver Institute’s president ended May 31. Mitchell Krebs, president, CEO and a director of Coeur Mining, has been elected vice president of the Institute, succeeding Alanis in this role.
Austmine Chairman Alan Broome was recently awarded the Austmine Life Membership Award in recognition of his outstanding contribution to the Mining Equipment, Technology and Services (METS) sector and for his longstanding leadership of Austmine as chair for the last 22 years. Broome is a metallurgist with more than 40 years of experience in the metals, mining and energy industries. He is a director and chair of a number of Australian mining technology companies. He also sits on the Minerals Sector Advisory Council of the CSIRO and is a director of the New Zealand Coal Association. In 1999, Alan was awarded the Westpac/Institute of Export award for contributions to Mining and Mining Services; in 2000 the Order of Australia (AM) for services to Mining and in 2005 he was awarded the AusIMM President’s Award for contributions to the development of the Australian mining supply sector.
