jueves, 10 de enero de 2019

Exports from world's second-largest copper mine to drop 85%

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Mining News Digest
Thursday 10 January 2019
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Concentrate shipments from Indonesia's Grasberg mine, will drop because of a lag in output while operations shift from open pit to underground mining.

Surge will continue to hold its interest in its cobalt projects in both Chile and Ontario, and its lithium brine project in Chile.

The Canadian junior expects to mine 230,000 to 265,000 gold ounces this year from both Aurizona mine in Brazil and its recently acquired Mesquite gold operation in California.

The company produced 472,418 ounces of gold at its Egypt-based Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at the operation.

The company said there will be no impact to the mine's ongoing environmental monitoring and remediation program.

Chile's Collahuasi copper mine is seeking "synergies" with companies with operations close to its own mine in the Atacama area.

The plant is operating at half capacity after early last year admitting it had made unlicensed emissions of untreated water.

China plans to introduce policies to boost domestic spending on items such as automobiles and home appliances this year.

Tanzanian President Magufuli said the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency.

While industry fundamentals have improved, current prices won't last as more supply is on the way. The bank expects a decline to $60 in six months.

On the long list of leading indicators that market participants attempt to use to figure out where the economy may be headed, don't overlook aluminum.

Canada-based Strikepoint Gold has completed 4,304 metres of diamond drilling from surface last year at the historic Porter and Silverado mines.

The jeweller tries to become more transparent in a notoriously opaque industry.

The mill treated 40,000 t/d with an average head grade of 0.31% copper.

ALX Uranium and Denison Mines just launched a winter diamond drilling program at the Hook-Carter uranium project.

There is a porphyry copper-molybdenum-gold system at the Espiritu SMR property.

Channel sampling at the Behold zone late last year returned assays as high as 8.6 g/t gold over 0.30 metre and 5.42 g/t over 0.67 metre.

Targets at Wheeler River, Waterbury Lake, and Hook-Carter properties – all in the Athabasca Basin – will be diamond drilled.

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