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Antofagasta approves $1.3bn Chile copper expansion Antofagasta approves $1.3bn Chile copper expansion
Published: 15 Nov 18
The Los Pelambres copper mine is set for a $1.3-billion expansion, with London-listed Antofagasta on Thursday announcing that production at the Chile mine would be increased by an average 60 000 t/y. The project, owned 60% by Antofagasta and 40% by consortiums led by Nippon and Mitsubishi, will increase throughput at the plant from 175 000 t/d to 190 000 t/d and includes an additional semi-autogenous grinding mill, ball mill and corresponding flotation circuit with six additional cells.
Global exploration up 19%; cobalt/lithium budgets soar Global exploration up 19%; cobalt/lithium budgets soar
Published: 15 Nov 18
The budget for global non-ferrous exploration has increased by 19% year-on-year, to $10.1-billion, new data from S&P Global Market Intelligence has revealed. This was the second consecutive year where there has been an upturn in exploration spend, with S&P reporting on Thursday that junior exploration companies had seen a 35% increase in their exploration budgets.
NZ approves plans to re-enter Pike River
Published: 15 Nov 18
The New Zealand government has announced plans to re-enter the Pike River mine, eight years after an explosion claimed the lives of 29 miners. Minister Responsible for Pike River Re-entry, Andrew Little, said this week that the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency, recommended course of action to enter the drift, using the existing access tunnel, was by far the safest option.
Sibanye-Stillwater concludes gold wage agreement with three unions Sibanye-Stillwater concludes gold wage agreement with three unions
Published: 15 Nov 18
JSE- and NYSE-listed gold miner Sibanye-Stillwater has signed a three-year wage agreement with the National Union of Mineworkers, Solidarity and UASA for the period July 2018 to June 2021. The agreement allows for increases to the basic wage of Category 4 to 8 surface and underground employees of R700 a month in the first year, R700 a month in the second year and R825 a month in the third year.
Santos/Shell JV and Armour Energy awarded Qld gas rights
Published: 15 Nov 18
The Queensland government has awarded rights to explore about 900 km2 of land near Surat, providing for potential new domestic gas supplies. A 50:50 joint venture (JV) between oil and gas majors Santos and Shell has been awarded the exploration rights to a 393 km2 parcel of land, while ASX-listed Armour Energy has won the exploration rights to 457 km2.
Cyclone DFS cuts costs
Published: 15 Nov 18
A definitive feasibility study (DFS) into the Cyclone zircon project, in Western Australia, has slashed the development capital from the A$161-million estimated in 2016, to A$135.7-million. ASX-listed Diatreme on Thursday reported that Cyclone is expected to have a life-of-mine production of 1.94-million tonnes of heavy mineral concentrate, containing 936 000 t of zircon, producing 772 000 t of zircon final product, delivering an average of 58 790 t/y over a 13-year mine life.
Vimy rolls out subsidiary to hunt for base metals
Published: 15 Nov 18
ASX-listed Vimy Resources has established a new subsidiary, Vélo Resources, to explore for base metals around the company’s flagship Mulga Rock uranium project, in Western Australia. Vélo will hold one granted exploration lease and several exploration lease applications, covering a combined 1 700 km2, which is in close proximity to the Mulga Rock project, and thought to be highly prospective for base metals.
Hipo joins the hunt in DRC
Published: 15 Nov 18
ASX-listed Hipo Resources has signed a joint venture (JV) agreement to earn a 60% interest in the Kamola lithium project, in the Democratic Republic of the Congo. Under the terms of the agreement with Crown Mining, Hipo will sole-fund $5-million in exploration and project development expenditure within a three year period to maintain its JV interest.
Vale holds talks to expand world's biggest openpit iron mine
Published: 15 Nov 18
Vale is holding talks with Brazilian officials about expanding the world’s largest open pit iron-ore mine to meet growing Chinese demand for the high-grade ore. The Rio de Janeiro-based company recently sat down with regulators to discuss expanding its $14-billion mine located in the Amazon rainforest, which hasn’t even reached capacity yet
Stornoway names new CEO; posts Q3 loss Stornoway names new CEO; posts Q3 loss
Published: 14 Nov 18
Canadian miner Stornoway Diamonds has appointed a new CEO to succeed Matt Manson on January 1, it said on Wednesday, after reporting an adjusted third-quarter net loss of C$31.7-million, sending its shares down 12% on the TSX. Patrick Godin, currently the COO, will succeed Manson, who has been hailed as the driving force behind the acquisition, financing and development of the Renard diamond mine, in Quebec.
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