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Sherwin Iron’s scoping study on its Hodgson Downs deposits, located within the Roper River iron ore project, has set the company on track for first production in 2012 and confirmed alternative 4-5 Mt/y production plans. However, with a 500 Mt exploration target from just two out of four exploration licenses, the company expects production to run past the assumed 2025 mine life.
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All this and much, much more in International Mining’s Project News….
Alexis Minerals has increased gold resources at its Snow Lake mine in Canada, with a 30% increase in contained gold (Measured and Indicated) reported from the Main mine and a 63% increase in contained gold, Measured and Indicated, in #3 zone. The company is still exploring the project’s potential although a feasibility study, released in conjunction with the resource estimate, has confirmed the opportunity to mine an estimated 80,000 oz/y over five years if Snow Lake is reopened.
As Sandfire Resources’ PFS on its 10.7 Mt DeGrussa project nears completion the company has revealed plans to increase processing facility throughput rate to 1.5 Mt/y. The company has recently been able to update the Australian project’s resources, that are now known to contain 600,000 t Cu, 660,000 oz Au and 5.1 Moz Ag, and is still continuing an aggressive exploration program - although Sandfire is not allowing this to interfere with its 2011 open pit mining plans.
Mundo Minerals has provided an update on its South American operations as it discovers grades of 67 g/t Au from an ore shoot at its Torrecillas project, giving a golden welcome to COO Mark Zeptner as the company’s newest appointment to its South American management team takes hold of his post. Southern Hemisphere Mining is also looking towards its South American projects with a A$20 million placement expected to drive a new exploration phase across 13 copper and copper-gold projects. The company’s Chilean projects cover a strike length of over 2,000 km.
In Queensland Alcyone Resources has found outstanding drilling results of 455 g/t Ag and 279 g/t Ag, significantly increasing confidence in expanding the Twin Hills mineral resource. The drilling is only part of a wider ranging exploration drive in a bid to increase the existing inventory of heap leach silver resources.
Atlas Iron are still performing well over expectations as its team achieves an export rate of roughly 6 Mt/y - 2 months earlier than planned. The company is now preparing to double its export rate by the end of 2012 as they continue to build the Turner River Hub which will be capable of handling ore from three out of four of Atlas’ Pilbara iron ore projects.
Harmony Gold’s CEO can barely contain his excitement as the company receives exploration drilling results that has further extended the Golpu deposit. In Portugal, Lundin Mining has found yet another mineral rich massive sulphide deposit at its Neves-Covo mine. Arian Silver has begun commercial production at its 200 Moz Ag San José mine in Mexico while Xstrata has received Queensland Government approval for its plans to expand Mount Isa’s production rate by almost 30%.
In Africa Freeport-McMoran Copper & Gold has announced, along with the Government of the Democratic Republic of Congo, the successful review of Tenke Fungurume Mining’s (TFM) contracts. The conclusion will open the way for TFM to pursue more investment in order to develop the $2 billion copper-cobalt project beyond its current production rate of 250 Mlb/y Cu and 18 Mlb/y Co. While in the Philippines Indophil Resources has announced an improved production profile for its Tampakan copper-gold project. Among other changes, Indophil now plans a 66 Mt/y start-up mining and milling capacity for the 2,400 Mt deposit as well as annual production of 450,000 t copper and 435,000 oz gold.
Vale’s $24 billion investment plans for 2011 are examined in a four page featured article at the end of this edition of International Mining Project News - with over half of the investment going towards the company’s Brazilian interests Vale is one of many mining company’s focussing on South American potential. Centaurus Metals, after its own substantial investment, has begun to meet with success at its wholly owned Itambé iron ore project with promising drill results. Itambé is only one of three advanced iron ore projects being upgraded within the Centaurus portfolio.