Mining News: Queensland to Develop New Shot-Firing Guidelines

The Mining Safety and Health Directorate of Queensland has established an industry steering group to examine post-blast fume events and develop steps to further minimise risk to workers.

 

The steering group will develop new shot-firing guidelines to minimise gas fume events during blasting operations in Queensland coal mines.

 

Employment, Skills and Mining Minister Stirling Hinchliffe said the concerns raised after recent incidents at BMA's Saraji and Peak Downs mines had prompted the creation of the steering group. grinding mill machine

 

The steering group will be chaired by Noel Erichsen, the deputy chief inspector of explosives, and will include representatives from mining companies, explosives suppliers and the union. stone crusher

 

During the blasting operations at the mines, about 120-150 shots are fired each week, of which less than 2% result in a fume event. Mining equipment

 

The Explosives Inspectorate has also issued a safety alert to explosives suppliers and all mines engaged in open-cut blasting operations, outlining measures to be taken to prevent and manage post-blast fume events.  crusher in australia  Gyratory Crusher

Mining News: Barrick Gold Receives SEIS Approval for Cortez Hills Mine

 

Barrick Gold has received a record of decision (ROD) approving the supplemental environmental impact statement (SEIS) for the Cortez Hills mine in Nevada, US.

 

The mine was previously operating under a tailored injunction granted by the US District Court, which allowed mining under certain restrictions on ore transportation and dewatering on completion of the SEIS.

 

The ROD has removed these restrictions and enabled the mine operation to revert to its original scope.

 

The Cortez property, including the pipeline open pit, the Cortez Hills open pit and the Cortez Hills underground mine, is expected to produce 1.3 million to 1.45 million ounces in 2011 at total cost of $235-$265 an ounce.

 

Barrick Gold received the approval from the federal Bureau of Land Management (BLM).

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Mining News: White Tiger Signs Business Agreement with Century Mining

 

White Tiger Gold has entered into a binding agreement with Century Mining to form a 'business combination'.

 

Under the terms of agreement, Century Mining shareholders will receive 0.40 of a White Tiger common share for each common share of Century held.

 

The total transaction is expected to cost C$855m (US$725m).

 

The newly combined entity will have a diversified portfolio of mines and projects, with both underground and open pit operations.

 

The combined production capacity this year will reach 111,000oz to 121,000oz of gold, including the production from Century's Lamaque gold project and San Juan mine and White Tiger's Savkino mine.

 

White Tiger Gold CEO Geoffrey Cowley said the newly formed company would have a portfolio of production, development and exploration assets with increased access to the financial markets.

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Mining News： JSPL to Begin Iron Ore Exports from Bolivian Mine

 

India-based Jindal Steel and Power (JSPL) will begin exporting iron ore from El Mutun mine in Bolivia in the coming months.

 

JSPL vice-chairman and managing director Naveen Jindal said the quantum of iron ore exports from the Bolivian mines will be raised step by step to ten million tons per annum, as part of the development plan.

 

In 2007, the firm entered into an agreement with the Bolivian Government for the development of the mine, which holds more than 40 billion tons of reserves.

 

Under the agreement, JSPL will mine about half of the reserves of the mine for a period of 40 years, along with construction of a 1.7 million tons per annum (MTPA) steel plant, a 6Mtpa sponge iron plant and 10Mtpa iron ore pellet plant.

 

The steel plant in under construction and will be commissioned by 2014.

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Korean News: S.Korean utility in talks with Japan for coal swap

Korea South-East Power Co Ltd (KOSEP) is considering taking 70,000 tonnes of Canadian thermal coal for late Mar arrival as Japanese utility J-Power is unable to use it after Japan's quake and tsunami, company and industry sources said on Mar 16.

Tokyo has declared force majeure on some coal vessel deliveries due to outages at its coal-fired plants, trade sources said. Tohoku Electric Power has also declared force majeure on its near-term thermal coal shipments due to severe port damage.

Japanese steel mills are diverting metallurgical coal cargoes due to plant outages and port disruptions sources said on Tuesday, with South Korea seen as a possible destination.

South Korea has held internal discussions on ways to cooperate with Japan over its neighbor's energy supplies.

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Japan Nuclear Crisis: Power Cuts in Japan Lead to Shutdown of Copper Smelters

Two major copper smelters in Japan have been shut down due to power cuts, following the recent earthquake.

 

Pan Pacific Copper, which is partially owned by JX Nippon Mining & Metals, has halted operations at its Hitachi refinery works.

 

Mitsubishi Materials has also ceased its smelter operations at the Onahama copper smelter that produces 30,0000t of copper annually, due to a lack of electricity.

 

The earthquake and subsequent tsunami hit north-eastern Japan on Friday 11 March.

 

Japan's refined copper output stood at about 1.52 million tons in 2010, which was about 7% of the global output.

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Mining News: Rio Tinto Increases its Offer for Riversdale Mining

Rio Tinto subsidiary Rio Tinto Jersey Holdings (RTJ) has made a new offer to increase its takeover bid for Riversdale Mining with further changes.

 

According to the new offer, RTJ has increased the offer price to $16.50 a share, if it obtains an interest in over 50% of Riversdale shares by 23 March 2011.

 

RTJ will not increase the offer price beyond $16.50 in the absence of a competing proposal for Riversdale.

 

Once the bid becomes unconditional, RTJ will pay the purchase consideration within five business days of the bid becoming unconditional and after acceptances are received.

 

Rio Tinto Energy chief executive Doug Ritchie said the increase in the offer price from $16.00 to $16.50 gives Riversdale shareholders an attractive premium.

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Mining News: Zimbabwe Mineral Exports Increase to $1.3bn

 

Zimbabwe's mineral exports have doubled to $1.3bn in 2010, according to the latest figures from the country's Chamber of Mines.

 

Platinum shipments have earned $409m, a third of the revenue and gold exports about $380m, while ferrochrome brought in $134m and coal collected $87.9m, reports the Herald.

 

Nickel earned $111.2m, palladium $100.6m, chrome exports $56.8m and copper $28.5m.

 

The coal mining sector received a boost with an investment in the Hwange colliery and developments in the mining space including opening up of the Zimbabwe's coal fields and the approval of over 60 applications for the development of its coal asset.

 

The increase in Chrome output was achieved due to increased processing at Zimasco and Zimbabwe Alloys.

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Mining News: Some money moving out of gold and back to equities

Although the overall outlook for gold prices and demand remains positive, there may be some "fault lines" emerging in the picture, JP Morgan metals strategist Michael Jansen said in Toronto on Sunday.

 

JP Morgan is forecasting an average gold price of $1 465/oz this year, and has a year-end target of $1 500/oz.

 

"We think the physical demand from Asia in particular, particularly from China and India, will continue to underpin the gold market outlook," Jansen told a full house on the first day of this year's annual Prospectors and Developers Association of Canada (PDAC) convention.

 

"(But) we are a little bit concerned about the signs of some fault lines emerging in the market."

 

For one thing, there has been a shift by wholesale investors and some funds out of gold and back into equities, which now "look quite cheap" compared with the yellow metal, he said.

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Investment demand has been the reason for gold's rise to record highs in recent years, as investors are lured by the metal's role as a hedge against inflation, a haven from risk and as a story of value.

 

"We have received a lot of feedback at at the significant wholesale investor level, or the big macro funds, they are generally starting to pull back their exposure to gold and get more exposure towards equities," Jansen said.

 

"We see equities emerging from a multi-year funk and moving into a two or three year bull market. And that obviously reduces the need for a portfolio hedge like gold."

 

So far, the effects on the gold price have been limited because physical demand by retail investors and from China and India in particular has offset the investment shift, Jansen said.

 

The outlook for gold mine supply, which had declined for several years until an uptick in 2009 was followed by a record production year in 2010, is also "quite strong", he commented.

 

JP Morgan expects that gold mine supply will continue to rise by around 3% to 4% a year over the next few years. "And there could be some upside risk to that," he said

 

On the other hand, geopolitical concerns will continue to be positive for gold, as evidenced by the run in the price in recent weeks, amid turmoil in parts of North Africa and the Middle East.

 

Concerns over sovereign debt risks in Europe have also been positive for gold investment, and another supportive factor for gold will be central banks, which switched last year from being net sellers to net buyers of the precious metal.

 

Although the official numbers indicate that central bank purchases of gold may have eased, governments are not always upfront about their activity, Jansen commented.

 

"From an official standpoint it does look like their net purchases are starting to slow, but we don't think that's the really the case at all.

 

"It's just that they are becoming less honest about what they are buying. I really think we can see quite a lot more activity from central bankers in the next couple of years, particularly from those in gold producing economies."

 

Jansen said that gold merger and acquisition activity will remain strong in 2011, particularly at the junior and mid-tier level.

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Mining News: Copper supported at current levels but upside 'constrained' – GFMS

A growing market deficit for copper in the second half of this year will underpin current price levels, but may not prove the incentive needed for a spike in prices, GFMS analyst Mark Fellows said on Tuesday.

 

Copper prices set a new record above $10 000/t in mid-February, but have dipped back and the metal was trading at around $9 831/t on Monday morning, amid concerns that turmoil in North Africa and the Middle East will push oil prices up, weighing on economic growth and demand for industrial metals.

 

Fellows said he expects a "small but quite significant" price correction during the first half of 2011.

 

However, GFMS expects the copper deficit will increase in the second half of this year and is forecasting continued deficits until 2013, he said in a presentation at the annual Prospectors and Developers Association of Canada (PDAC) convention.

 

However, the size of the deficit will not be as sharp as previous market imbalances, including the size of the market surplus in the 2008/09 period and the deficits that preceded it, he said.

 

"We do remain pretty positive about the prospect of copper prices over the next three years, or four years.

 

"But the upside from here is somewhat constrained," Fellows said. "There's good support, but there's also resistance above current levels."

 

The industry has developed a strong project pipeline, with the potential for an additional 1,8-million tons a year of capacity by 2013, he said.

 

But Fellows commented that experience has shown the difficulties of getting mines into production and then running them at planned capacity means the reality will likely be markedly lower.

 

As a result, GFMS is forecasting less than 800 000 t/y of additional copper mine capacity by 2013.

 

"But that said, at current price levels there is tremendous incentive for producers to increase output where possible," Fellows said.

 

"So we are seeing an industry that is really applying all the levers available to it to increase output, but the extent to which that's actually possible is somewhat reduced."

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Mining News About Iron ore: Nullagine to Ship Iron Ore to China

Nullagine Iron Ore Joint Venture, a 50:50 joint venture between BC Iron and Fortescue Metals Group, has loaded its first shipment of iron ore in Port Hedland, Western Australia, to be transported to China.

 

BC Iron managing director Mike Young said this was a significant milestone marking the emergence of a new Australian iron ore producer and exporter from the Pilbara region.

 

Nullagine has become the first junior iron ore company to successfully access and use third-party rail infrastructure owned by a major company in the Pilbara.

 

As part of the shipment, 20,000t of iron ore has been loaded for a major unidentified Chinese trading company.

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Mining News from Australia: Ivernia to Resume Operations at Australian Mine

The Minister for Environment of Western Australia has lifted the temporary ban on Ivernia's transport operations at the Magellan mine in Western Australia.

 

The firm's subsidiary, Magellan Metals expects to resume transport operations in the next two weeks at the Magellan mine, which was temporarily shutdown on 5 January 2011 after powdered lead carbonate was found outside sealed bags in shipping containers.

 

The Office of the Environmental Protection Authority of Western Australia has confirmed that no lead in container air samples exceeded the baseline and there is no risk to the community from the transport process of double-lined bags within sealed shipping containers.

 

The minister has also issued interim conditions, including defined timeframes for dispatching samples for analysis and reporting of monitoring samples above baseline levels.

 

Ivernia president and CEO Alan De'ath said the government has confirmed after its review that there is no public health risk posed by the sealed shipping container transport process from the Magellan mine.

 

Magellan Metals will notify regulators and the community of monitoring results, and appoint an independent third party auditor to periodically audit Magellan Metals' implementation of its health, hygiene and environmental management and monitoring programmes.

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Mining News: Rio Tinto Awards EPCM Contract to SKM

 

Rio Tinto has awarded an EPCM contract to Sinclair Knight Merz (SKM) for the expansion of the Cape Lambert port facility in Pilbara, Western Australia.

 

The award is a part of Rio Tinto's investments in expanding its iron ore infrastructure in the Pilbara region.

 

The new port facility at Cape Lambert Port B has an initial shipping capacity of 53 million tons per annum and will be expanded to allow an additional capacity of 50 million tons per annum.

 

The development will include construction of a tandem car dumper facility, a stockyard including two stackers and two bucket wheel reclaimers and a screenhouse.

 

Work will also include building a surge bin facility, a 1.4km access jetty and a double-sided iron ore wharf with two shipping berths and a shiploader.

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