Wednesday, October 26, 2011

Canadian iron ore project advancing

An iron ore project in northeastern Canada whose proponent is calling "the next Consolidated Thompson," has taken an important step forward.

 

Alderon Iron Ore Corp. (TSE:ADV) announced today it has begun filing material to start the federal and provincial environmental assessment process. The application would allow Alderon to double future annual production at its Kami Project in Quebec-Labrador to 16 million tonnes of iron ore concentrate annually.

 

"We included the planned expansion to 16 million tonnes in the Registration Documents based on our confidence in the size and quality of Alderon's resource combined with a robust iron ore market that will allow Alderon to build a long life mining operation and use the cash flow from its initial phase to fund a rapid expansion," Alderon CEO Tayfun Eldern said in a statement.


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Sunday, October 23, 2011

mining technology-Deals this week: Gunvor Group, New Gold, Karaga and more...

Gunvor Group's subsidiary Pinesdale has acquired one-third interest in Signal Peak coal mine, which is jointly owned by FirstEnergy and Boich Companies subsidiaries, for $400m.

 

As part of the deal, FirstEnergy and Boich Companies will transfer their interests in Signal Peak mine to Global Mining Holding Company, a new company that will include various Signal Peak entities.

 

FirstEnergy's subsidiary FirstEnergy Ventures, Boich's subsidiary WMB Marketing and Gunvor Group will each own a third interest in Global Mining Holding.

 

New Gold and Silver Quest Resources have entered into a binding letter agreement, under which New Gold will acquire all the outstanding common share of Silver Quest for a total value of C$131m (US$128m).

 

Under the terms of the agreement, Silver Quest shareholders will receive 0.09 of a New Gold share for each Silver Quest share held and one common share in new precious metals exploration company McIntyre Minerals for every three Silver Quest shares held. silver crusher

 

New Gold and Geo Minerals have entered into a definitive agreement, whereby New Gold will acquire all of the outstanding common shares of Geo for a total value of C$17m (US$16.6m).

 

Under the terms of the agreement, each Geo shareholder will receive C$0.16 (US$0.15) for each Geo share held and one common share of a new exploration company for every 15 Geo common shares held.

 

Australian firm Kagara has received approval from the shareholders of Copper Strike for the acquisition of the Einasleigh copper project in North Queensland for A$16m (US$16.3m).

 

The acquisition will allow Kagara to substantially increase the copper and polymetallic resource base at its Central Mt Garnet province in North Queensland. crushers machine sale

 

Rio Tinto is planning to divest its 13 aluminium assets in different countries to allow Rio Tinto Alcan to concentrate on its strategy to grow the value of its tier one assets and improve the group's financial performance.

 

The company will transfer its interests in six Australian and New Zealand assets into a new business unit called Pacific Aluminium. quarry plant

 

The remaining seven assets located in France, Germany, UK and the US will be managed by Rio Tinto Alcan while it further investigates divestment options.

 

Irish firm Connemara Mining has entered into a joint venture deal with Boliden Tara Mines for the Oldcastle Block of licences in Cavan and Meath, Ireland.

 

Under the terms of the agreement Boliden Tara Mines could potentially earn a 65% stake in the assets.

Thursday, October 20, 2011

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Sunday, October 16, 2011

KITCO NEWS: Atticus Resources to form joint venture with Resgen Resources at Yundamindera Gold Project

Atticus Resources (ASX: ACZ) has agreed to form a joint venture with Resgen Resources Pty Ltd covering the company's Yundamindera Project in Western Australia.

 

The Heads of Agreement proposes a farm‐in and joint venture under which Resgen will spend $200,000 over a three year period to earn 51% of the Yundamindera Project and can then elect to spend an additional $100,000 over a further two year period to earn a total of 90% of the project. iron ore plant



This strategy will allow Atticus to focus on acquiring a substantial new project, while remaining exposed to any exploration success at Yundamindera. The project is currently being explored in partnership with the tenement holders, BrilliantGold Pty Ltd.



Unlisted Resgen is based in Adelaide and intends to list on ASX within the next six months. Upon listing on ASX, Resgen will issue 100,000 fully paid Resgen shares to Atticus, who will manage and fund all exploration activities at the Yundamindera Project until Resgen lists.



The agreement is conditional upon Resgen successfully listing on ASX within 12 months from execution. If Resgen fails to list then they forfeit their right to enter into the proposed joint venture and Atticus and BrilliantGold will continue exploration of the project in their own right. crushers



The Yundamindera gold project is located in the Eastern Goldfields Province of the Yilgarn Craton, 685 kilometres northeast of Perth and 205 kilometres north‐northeast of Kalgoorlie‐Boulder.



Historical gold exploration by a number of previous operators and more recently by Atticus has identified several areas of coherent gold anomalism in near‐surface soil sampling and RAB/aircore drilling that now require extensive drill testing. gold crusher



Atticus said it plans to start testing several of these anomalies with limited aircore drilling later this year, however, upon listing on the ASX, Resgen will continue with further and more extensive drill testing of these and other anomalies generated by the previous work.

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Wednesday, October 12, 2011

mitrail indonesian mining news:,Execution of Long-Term Power Purchase Agreement for a New 2 GW Coal-Fired IPP Project in Indonesia - Adaro Pasok Batu Bara PLTU Jateng

Indonesia's First High Efficiency (USC) Coal-Fired IPP Project and Amongst the Largest in Asia



Itochu Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President and CEO; hereinafter "Itochu"), Electric Power Development Co., Ltd. (headquartered in Chuo-ku, Tokyo; Masayoshi Kitamura, President; hereinafter "J-Power"), and PT Adaro Power, which is a wholly owned subsidiary of PT Adaro Energy Tbk. (IDX: ADRO) (headquartered in Jakarta, Indonesia; Garibaldi Thohir, President Director; hereinafter "Adaro") announced the execution of a long-term Power Purchase Agreement ("PPA") between PT Bhimasena Power Indonesia (headquartered in Jakarta, Republic of Indonesia; Kenichi Seshimo, President; hereinafter "BPI"), a company established by the three-company consortium, and Indonesia's state-owned electricity company, PT. PLN (Persero) ("PLN"), this afternoon in Jakarta. The PPA includes the construction of a coal-fired power plant with a total capacity of 2,000 MW in the province of Central Java ("Central Java Power Plant"/"CJPP") and a 25-year supply of electricity to PLN. The total project cost is approximately US$4 billion.

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In addition to the PPA, a Guarantee Agreement ("GA") was also signed by and among the Government of the Republic of Indonesia (represented by the Ministry of Finance), PT Penjaminan Infrastruktur Indonesia (Persero) ("PII") or also known as the Indonesia Infrastructure Guarantee Fund ("IIGF") and BPI. IIGF was established by the Government of the Republic of Indonesia to provide guarantees for Government Contracting Agencies' contractual obligations under cooperation agreement between the Government and private sector, in this case,

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guarantee of PLN's payment obligation for the CJPP project under the PPA. This is the first actualized public-private partnership ("PPP") in Indonesia under a guarantee provided by the IIGF. This initiative is also part of the Master Plan for Acceleration and Expansion of Indonesian Economic Development ("MP3EI").



J-Power-Adaro-Itochu consortium established a project company, BPI, in July 2011 to build, own and operate a coal-fired power plant, which would be amongst the largest in Asia. On June 17th 2011, the three company consortium received a Letter of Intent ("LoI") after winning an international competitive tender process. It is the first power plant in Indonesia to use advanced environmentally friendly, ultra-supercritical ("USC") technology and will serve as a model of high-efficiency power generation. An important feature of the project is it will utilize Indonesian sub-bituminous coal as fuel.

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The Engineering, Procurement and Construction ("EPC") contractor will soon be appointed and shall use Japanese advanced technology. It is expected the financial closure will be completed next year. The construction is expected to begin in October 2012 and commercial operations are expected to start in late 2016.



J-Power has been actively engaged in the overseas power generation business (approximately 3,700 MW net capacity of 29 projects under the operation that produce approximately 15,000MW gross capacity) while owning and operating coal-fired power plants with a total capacity of approximately 8,400MW in Japan. In addition to this model project for development of high efficiency coal-fired power generation in Asia, J-Power is developing nine projects in Thailand to produce about 4,000 MW, and will continue to steadily engage in the power generation business abroad.



Adaro is an integrated coal mining and

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energy company, which currently operates the largest single-site coal mine in the Southern hemisphere and is the largest coal supplier to the Indonesian domestic market. In 2010, ADARO produced and sold 42.2 million tones and 43.8 million tonnes respectively. As the only local company in the consortium, Adaro's contribution will mainly be as regards the local market expertise and logistics, as well as the coal procurement. Adaro Energy's President Director, Mr. Garibaldi Thohir, said, "We are delighted to take part in this 2,000MW power plant project to help boost Indonesia's power generation capacity and contribute to national development. We expect good returns and more predictable cash flow and demand for Adaro's E 4000 (Wara) coal. This project is part of our vision to be a leading Indonesian mining and energy group."



Itochu has defined the IPP business as a priority area in its medium-term management plan Brand-New Deal 2012, given its potential to generate sustainable earnings over the long term. In addition to North America, 

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where it has consistently accumulated prime assets, Itochu will be working actively to add prime power generation assets in Indonesia, where the PPA was executed, as well as in the rest of Asia, Europe, the Middle East, and other regions.



In parallel with that, Itochu will be moving forward with power generation projects using more environmentally friendly technologies including wind, biomass, and geothermal power generation as well as the high efficiency coal-fired technology used, for instance, in this Indonesian project.

mitrais Indonesia mining nes: , Research on Post Mining Closure Policy in Indonesia -

The Indonesian Center for Environmental Law is providing civil society groups and other actors with information they can use to influence policy discussions surrounding mine closure and rehabilitation policy.



In 2008 the Indonesian Government passed a law that decentralizes the management of mining resources in Indonesia. The law contains provisions regulating how mine closure and rehabilitation programs are financed. stone crusher in indonesia



Successful mine closure and rehabilitation programs can transform former mining areas into land suitable for other commercial or industrial uses. Environmental Financial Assurance (EFA) models provide iron ore crusher indonesia funds to the government or other third parties to carry out mine closure and rehabilitation programs when the mine operator cannot.



However, there currently is no clear EFA models and inadequate information about the management and taxation of different types of mining. In addition, existing mine closure and rehabilitation policies have no public participation mechanisms, environmental protection clauses or multi-stakeholder oversight.



To rectify the ambiguity and loopholes surrounding EFA models, the Indonesian Center for Environmental Law (ICEL) is conducting research on existing policies and practices for EFA systems in Indonesia, iron ore processing machine in other countries and at the international level. ICEL is publishing the results in a final report that includes recommendations for the government to consider as it finalizes its new regulations.



With RWI support, this research will enable

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civil society groups and local governments to actively weigh in on the formation of new EFA models and Indonesia's new mine reclamation and rehabilitation programs.



ICEL was founded in 1993
Indonesia: Shanbao crusher as a non-governmental institution that specializes in research, capacity building, advocacy and community empowerment. It seeks to defend public interests by pursuing the recognition of the public's rights with respect to the environment and natural resources.

 

KITCO NEWS: Comex Gold Ends With Solid Gains As U.S. Dollar Index Sinks

Comex December gold futures ended the U.S. day session solidly higher Wednesday. Prices hit a fresh three-week high as gold market bulls have gained upside technical momentum recently. A sharply lower U.S. dollar index Wednesday was the bullish outside force for the precious metals. December gold last traded up $21.60 at $1,682.60 an ounce. Spot gold last traded up $17.60 an ounce at $1,681.50. December Comex silver last traded up $0.797 at $32.795 an ounce.

 

The U.S. dollar index traded sharply lower Wednesday and hit a fresh three-week low. The dollar index bulls are fading fast and near-term chart damage has been inflicted to suggest quarry crusher the index has put in a near-term market top. That is a significantly bullish development for the precious metals market bulls. Crude oil futures prices are traded choppy and near steady levels Wednesday. Still, crude oil bulls have some upside technical momentum to suggest that prices can trade sideways to higher in the near term. This is also a bullish scenario for the precious metals .

 

Strong recent physical demand for gold coming out of Asia has supported higher prices. The festival season in India finds stronger demand for physical gold coming out of that nation.

 

U.S. and European stock markets were higher Wednesday despite a Slovakian no vote on expanded the European Union bailout mechanism. The Slovak vote was the last country of the 17 EU members to vote. Many reckoned the Slovaks would vote down the bailout expansion, but another vote is expected soon and the measure is expected to pass this time. The market place ostensibly ignored the Slovak no vote. This suggests investor risk appetite has increased recently and that investors are trying to move past the EU debt crisis. Still, the EU debt crisis is far from being fully repaired and it remains a bullish underlying factor for gold. 

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The London P.M. gold fixing was $1,682.00 versus the previous P.M. fixing of $1,663.00.

 

Technically, December gold futures prices closed nearer the session high Wednesday and hit another fresh three-week high. Bulls have gained good upside near-term technical momentum recently and have regained the slight near-term technical advantage. Prices have been trending higher on the daily chart for three weeks. Bulls' next upside technical objective is to produce a close above solid technical resistance at $1,705.40. Bears' next near-term downside price objective is closing prices below psychological Rock Crusher support at $1,600.00. First resistance is seen at Wednesday's high of $1,693.90 and then at $1,705.40. First support is seen at Wednesday's low of $1,662.00 and then at $1,650.50. Wyckoff's Market Rating: 5.5.

 

December silver futures prices closed nearer the session high Wednesday and hit a fresh three-week high. Silver bulls and bears are on a level near-term technical playing field. Silver bulls' next upside price objective is producing a close above strong technical resistance vertical mill at $33.585 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at last week's low of $28.435. First resistance is seen at Wednesday's high of $33.10 and then at $33.585. Next support is seen at $32.50 and then at $32.00. Wyckoff's Market Rating: 5.0.

 

December N.Y. copper closed up 965 points 338.70 cents Wednesday. mobile crushers plant for sale Prices closed nearer the session high and hit a fresh two-week high. More short covering was featured and the market was also boosted by a sharply lower U.S. dollar index. Copper bears still have the overall near-term technical advantage as a nine-week-old downtrend is still in place on the daily bar chart. Copper bulls' next upside breakout objective is pushing and closing prices above solid technical resistance at 350.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at 300.00 cents. First resistance is seen at Wednesday's high of 341.15 cents and then at 345.00 cents. First support is seen at 335.00 cents and then at 330.00 cents. Wyckoff's Market Rating: 3.5.

Sunday, October 9, 2011

Pacific Coal announces third quarter operational update

Pacific Coal Resources Ltd. (TSX-V: PAK) announced today an operational update on its producing mines, La Caypa and Cerro Largo -La Divisa.



Luis Carvajales, Chief Executive Officer of Pacific Coal, commented: "We are very pleased with the third quarter performance of both La Caypa and Cerro Largo. La Caypa's production and strip ratio results are still ahead of management's projections, while the progress at Cerro Largo that we have achieved in such a short amount of time will continue into the next quarter, keeping us on track to reach production of 1.6 million to 1.8 million tonnes by year-end. We are also satisfied with the advancement of our other projects, including the exploration program at La Tigra and the increased installed capacity for coke production at CI Jam."



The integrated mine plan at Cerro Largo was implemented towards the end of the second quarter, which allowed for less waste rock removal during the third quarter. The Company aims to make further progress at Cerro Largo, which will result in significant improvements in both production and strip ratio over the next few quarters. Management estimates that Cerro Largo will increase production by over 400% and improve its strip ratio by approximately 35% during the fourth quarter of 2011.



From production at both La Caypa and Cerro Largo, exports totaled 448,691 tonnes and the average achieved sale price was US$102.51/tonne FOB, representing revenues of approximately US$46 million for the third quarter of 2011. The increase in export volumes compared to the previous quarter was due to incremental production coming from both La Caypa and Cerro Largo assets, as well as efficiencies achieved in the logistics chain by the incorporation of the new truck fleet.  vibrating screen



Freight on truck ("FOT") sales from Cerro Largo under contracts that were inherited from Norcarbon totaled 5,472.40 tonnes at a price of US$38.84 per tonne.



Exploration at La Caypa and Cerro Largo



Additional exploration at both La Caypa and Cerro Largo mines has been
undertaken in coordination with SRK pursuant to updating the National Instrument 43-101 ("NI 43-101") technical reports in connection with open pit and underground resources at both mines. Additionally, drilling at both mines will include methane emission readings and a geotechnical study to ascertain floor and roof stability in connection with the underground projects to be undertaken at both mines. Exploration at both mines is scheduled to be completed by late-November crusher spare parts
New sales purchase agreement



Pacific Coal has entered into a sales purchase agreement (the "Contract") with LCC Group ("LCC"), an established energy services company based in Ireland, for the supply of 700,000 tonnes per annum, commencing upon the completion of deliveries under their existing long-term contract and extending the relationship between the two companies to 2019. Pricing for deliveries under the Contract is to be agreed upon on an annual basis and shall be based on the forward price curves. The estimated value of the Contract is approximately US$350 million dollars based on management's conservative reference projected
forward price of US$100 per metric tonne, which will provide stable cash flows for both La Caypa and Cerro Largo.  LCC and Pacific Coal have just completed a new screening installation at both the La Caypa and Cerro Largo mines. Coal sold to LCC is shipped to washing and processing facilities at Gijon, Spain; Londonderry and Belfast in Northern Ireland; and Oxelosund in Sweden.



CI Jam



One hundred and sixty ovens are currently operational at CI Jam and coke production is expected to ramp up during the fourth quarter of 2011. The 160 ovens represent an installed capacity of 72,000 tons per annum. A third installation of 100 ovens has been authorized at the property, maximizing the use of actual installed infrastructure and taking total actual capacity to 120,000 tonnes per annum, which will enable Pacific Coal to meet the coke production volumes forecasted for 2014. The new 100 oven battery is expected to be commissioned by the first quarter of 2012.  mining equipment for sale



Metallurgical coal production out of the Cerrejoncito and La Mona underground mines, located in the CI Jam property, has started at levels of 500 tonnes per month, ramping up to 6,500 tonnes per month in 18 months.



La Tigra Asphaltite Deposit Exploration



Exploration at La Tigra progresses according to schedule. Magnetometry,
Gravimetry, Magnetoteluric and Hiperespectral studies have been contracted and 5 drills (3 Longyear LF 70 and 2 Longyear LF 90) were acquired to increase exploration and interpretation efforts of the deposit. Exploration is expected to continue throughout the fourth quarter of 2011 with the objective of the completion of a NI-43-101 resource statement in the first quarter of 2012.



CAW Trials



Industrial sized samples of Colloidal Asphaltite in Water ("CAW") are being
prepared at the Blue Advanced Colloidal Fuel facilities in Panama, using the recently acquired Filmix equipment. Trial burns at the Ohio-based Babcock & Wilcox facilities are now scheduled for late-October to early-November. iron ore equipment



Pyrolysis



Economic and technical prefeasibility evaluation is being conducted on pyrolysis with asphaltite. Pyrolysis has been conducted in the past by other companies and is a proven process with existing technology (delayed coking) that is widely available in the market by different engineering companies, as well as other commercially proven technologies based on the processing of oil shales that could be modified to convert asphaltites.



Barranquilla Port



The Barranquilla Port project continues on schedule and the Company has agreed to a final design and layout provided by Nathan and Associates. Soil surveys have been completed and land movement is scheduled to commence during the fourth quarter of 2011. Pacific Coal has initiated social and work programs within the community of Barranquilla in order to provide improvement of living conditions and opportunities to the people that live in the area of influence of the port. Tender for detailed engineering, equipment, supply and construction is expected to be issued in the first quarter of 2012.  slag processing plant



Third Quarter Financial Results



The Company expects to announce its third quarter financial results on or about November 29, 2011.