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FINANCING: $640M promised for Kitsault moly mine
BRITISH COLUMBIA – Avanti Mining of Vancouver has signed a mandate letter with five lenders for up to $640 million to be used to develop the Kitsault molybdenum mine 140 km northeast of Prince Rupert. The key terms are $560 million senior…
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IRON-TITANIUM RESOURCE: Fancamp gets Magpie numbers
QUEBEC – Fancamp Exploration of Vancouver has received the first 43-101-compliant in-pit mineral resource estimate for the Magpie No.2 deposit from P&E Mining Consultants. The report puts 635.2 million tonnes at 42.49% Fe and 11.20%…
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TUNGSTEN STUDY: Updated PEA for Grey River deposit remains positive
NEWFOUNDLAND – Playfair Mining of Vancouver says the preliminary economic assessment for its 100% owned Grey River tungsten deposit on the south coast indicates that a mining project is potentially viable and will return a positive net…
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GOLD-COPPER-TUNGSTEN EXPLORATION: Aurizon reports on Rex South
QUEBEC – Azimut Exploration of Longueuil, QC, is encouraged by the results of a regional exploration program that its partner Aurizon Mines of Vancouver did last year on the Rex South property. The property is located in Nunavik and owned…
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CHROMITE RESOURCE: Numbers triple at Noront’s Blackbird deposit
ONTARIO – Noront Resources of Toronto says the resource estimate at the Blackbird chromite deposit continues to grow. The deposit is part of the company’s McFaulds Lake project in the Ring of Fire, James Bay Lowlands.
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PERSPECTIVE: Rio Tinto believes in tax transparency
This is the time of year that individuals begin to complain about filing their taxes. It’s a national pastime to wish your taxes were lower. Just be thankful your income tax obligations don’t add up to $10.2 billion (all amounts are…
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INVESTMENT: Berkshire Hathaway backs Woulfe’s Korean tungsten venture
VANCOUVER – If their were a “deal of the week award”, Woulfe Mining would be in the running for attracting investment from Warren Buffet to its Sandong tungsten-molybdenum project in South Korea. Not Buffet personally, but IMC…
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TUNGSTEN-MOLY DEVELOPMENT: Adex updates plans for Mount Pleasant mine
NEW BRUNSWICK – Adex Mining of Toronto has updated its development plan for the Mount Pleasant mine 80 km south of Fredericton. The company has decided on restarting production from the Fire Tower zone (FTZ) containing tungsten,…
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SMELTING: First AP60 cell delivered to Rio Tinto Alcan
QUEBEC – Rio Tinto Alcan of Montreal says the first AP60 cell has arrived at the Arvida AP60 Technology Centre in Saguenay-Lac-Saint-Jean. The company believes the AP60 technology will become an aluminum industry benchmark due to its low…
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FINANCING: Canada Lithium secures $75-M toward lithium project
QUEBEC – Canada Lithium of Toronto has secured a five-year debt facility worth C$75 million. The money will be used to advance the Quebec Lithium open pit mine and mill 60 km north of Val d’Or. The money will be supplied by the Bank…
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MINERAL PROCESSING: New Endako moly mill reaches target throughput
BRITISH COLUMBIA – Denver-based Thompson Creek Metals reports that the new Endako molybdenum concentrator near the town of the same name reached its commercial production rate of 55,000 t/d on Feb. 1, 2012. That is a 77% increase over the old…
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The “Ring” Revisted
Richard Fink, Vice President, Technology, with Cleveland-based Cliffs Natural Resources, is a mining industry veteran who knows that discretion is sometimes the better part of valour when it comes to discussing mineral deposits, and the…
