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Thompson Creek Agrees to Acquire Terrane Metals |
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Wednesday, 11 August 2010 11:55 |
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Thompson Creek Metals and Terrane Metals entered into a definitive agreement in mid-July 2010 pursuant to which Thompson Creek will acquire all of the issued and outstanding equity of Terrane in exchange for cash and Thompson Creek shares valued at about $605 million. Goldcorp, which holds 58% of the voting equity of Terrane, agreed to vote in favor of the transaction, completion of which remained subject to a favorable vote of twothirds of Terrane shareholders and receipt of regulatory approvals. Thompson Creek also reported entry into an agreement with Royal Gold for sale of 25% of the life-ofmine gold production from Terrane’s Mt. Milligan copper-gold project in British Columbia, assuming completion of the Thompson Creek-Terrane transaction.
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Teck Proceeding with Aqqaluk Development |
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Tuesday, 08 June 2010 09:59 |
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Teck Resources reports that Teck Alaska is proceeding with development of the Aqqaluk deposit at its Red Dog mine in northwest Alaska. The go-ahead decision followed discussions with the U.S. Environmental Protection Agency (EPA) concerning the status of the renewal of Red Dog’s main water discharge permit and an internal review of Teck’s operating plans for the deposit. Teck had previously announced in mid-February 2010 that development of the Aqqaluk deposit remained uncertain based on appeals by several environmental and tribal groups.
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EPA Proposes Tighter Controls on Mercury Emissions |
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Tuesday, 08 June 2010 09:59 |
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The U.S. Environmental Protection Agency (EPA) announced it is proposing to cut emissions from gold ore processing and production facilities in Nevada and elsewhere in the U.S. Claiming that these operations represent the sixth largest source of mercury air emissions in the country, the agency described the announcement as “one of several steps” it is taking to reduce mercury emissions.
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Agnico-Eagle to Acquire Meliadine Property |
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Friday, 21 May 2010 10:41 |
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Agnico-Eagle Mines and Comaplex Minerals agreed in early April 2010 to a transaction whereby Agnico will acquire 100% of Comaplex and then spin off a new company to Comaplex shareholders that will hold all Comaplex assets except its Meliadine gold property in Nunavut, Canada. Agnico-Eagle currently owns about 12.3% of Comaplex’s outstanding shares. Total cost to Agnico-Eagle will be about C$650 million. The transaction, which is subject to regulatory and Comaplex shareholder approval, was expected to close in June 2010.
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NAP Restarts Production at Lac des Iles |
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Friday, 21 May 2010 10:39 |
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North American Palladium (NAP) restarted palladium production at its flagship Lac des Iles mine in northwestern Ontario in mid-April 2010. The mine is operating seven days per week on two 12-hour shifts per day. Ore production from the mine’s Roby Underground zone was targeted to reach 2,600 mt/d by May 1. Palladium production is planned at a rate of 140,000 oz/y.
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IOC Restarts Expansion Program |
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Tuesday, 08 June 2010 10:00 |
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Iron Ore Company of Canada (IOC) reported on May 6, 2010, it had received approval from its shareholders to resume a C$435-million expansion program to increase its concentrate capacity by 4 million mt/y to 22 million mt/y by 2012. The investment is the first stage of a three-stage expansion program that could increase IOC’s concentrate capacity to 26 million mt/y. Initially approved in March 2008, the expansion program was suspended later that year as the global financial crisis impacted markets worldwide. The revised total project cost for the first-stage expansion, including investments made prior to suspension, is C$539 million.
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Consolidated Thompson to Double Bloom Lake Production |
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Tuesday, 08 June 2010 09:59 |
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Consolidated Thompson Iron Mines announced in mid-May 2010 receipt of a positive feasibility study for an increase in production capacity at its Bloom Lake iron mine in Quebec, Canada, from 8 million to 16 million mt/y of 66.5% Fe concentrate. Consolidated Thompson started production at Bloom Lake during the first quarter of 2010, and deliveries under previously signed off-take agreements were scheduled to begin in June.
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Canada Lithium Plans Mine Startup by Late 2012 |
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Friday, 21 May 2010 10:42 |
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Canada Lithium Corp. has received a positive, NI 43-101 compliant prefeasibility study of its Quebec Lithium project 60 km north of Val d’Or, Quebec. Prepared by BBA Inc. of Montreal in conjunction with SGS Lakefield, Golder Associates, Genivar Inc., and Caracle Creek International Consulting, the study proposes a Stage 1 open-pit operation producing 2,950 mt/d of ore and 19,300 mt/y of high-quality Li2CO3 on site. Total initial capital costs are estimated at $148 million, including a $27-million contingency.
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Potash One Orders Long-Lead Materials for Legacy |
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Friday, 21 May 2010 10:40 |
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Potash One reported in early April 2010 it has placed its first order for long-lead-delivery alloyed materials required to fabricate the evaporation/crystallization equipment at its Legacy potash solution mining project 80 km northwest of Regina, Saskatchewan. The evaporation/crystallization plant is being designed and supplied by Whiting Equipment Canada and will be the core of the Legacy processing facility. The order will enable Whiting to begin delivery of major equipment to the Legacy site in 2012. Commissioning and startup of the mine are planned for late 2013.
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Seabridge Receives PFS for KSM Gold-Copper Project |
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Friday, 21 May 2010 10:39 |
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Seabridge Gold has reported results from an NI 43-101 compliant preliminary feasibility study (PFS) prepared by Wardrop of Seabridge’s 100%-owned KSM (Kerr-Sulphurets-Mitchell) gold-copper project in northern British Columbia. The study is based on estimated proven and probable reserves of 30.2 million oz of gold contained in 1.60 billion mt grading 0.59 g/mt gold derived from estimated total measured and indicated resources of 38.9 million oz of gold contained in 2.1 billion mt grading 0.57 g/mt gold, including allowances for mining losses and dilution.
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