Canoe Mining Forges Strong Partnerships and Gains New Location
Canoe Mining announces it has purchased the Hanlon property in Ontario, a highly prospective mining project
Focused on mining exploration and acquisitions in six different location in Canada, Canoe Mining Ventures Corp is excited to announce that on May 12, 2014, it has signed an agreement with Glencore Canada Corporation, Rainy Mountain Royalty Corp., and Mega Uranium Limited to purchase one hundred percent interest in the Hamlin-Deaty Creek Property, a gold belt located in Shebandowan Belt 110 Kilometers west of Thunder Bay, Ontario.
Duane Parnham, a director of Canoe Mining, stated: "The Hamlin property compliments our current holdings and furthers our strategic objective to consolidate the Shebandowan copper gold belt into a single major mining camp. There are currently unprecedentedly low acquisition costs for metal deposits in Canada and this, together with a trend for major mining companies to divest their exploration and development projects, has enabled Canoe Mining to capitalize on current market factors and acquire a highly prospective project from Glencore. We envision that Canoe will benefit from being well positioned with an excellent copper gold mining project in the future when markets will potentially recognize a significant increase in this property's valuation and reward Canoe for its efforts to enhance this asset." Prior to the agreement, the property was originally owned by Rainy Mountain and in 2003 a partnership was formed with Mega Uranium and they continued to develop the land, successfully completing 58 diamond drill holes by 2006 containing copper, gold, silver and molybdenum mineralization. It was in 2007 when Glencore earned its 51% interest by spending a total of 3 million dollars on the operation in Hamlin, leaving Mega Uranium and Rainy Mountain both owning 24.5% interest. The trio continued to develop the area and complete 23 additional drill holes, extending the deposit down to 200 meters below ground level.
Included in the terms of the agreement for canoe Mining to be included on this clearly profitable mining location, Canoe Mining is paying $50,000 to Glencore and is issuing one million common shares of Canoe Mining to Rainy Mountain and Mega Uranium. Under this agreement, the project will now be supervised by Canoe Mining’s Exploration manager, R.S. Middleton. What makes Middleton an excellent leader for this task is that he led the team that made the original discovery of the Hamlin deposit therefore he is very familiar with the area and will be a great contribution. Middleton states, "I am deeply familiar with the Hamlin property and deposit and know first-hand the potential of this Property. Our objective is to build a 60-100 million tonne copper-gold-silver deposit similar to the producing Mount Polley Mine in BC (Imperial Metals), or the Troilus Mine near Chibougamau (Inmet now First Quantum)." Middleton’s experience in this area supports the decision for Canoe Mining to forge this partnership and the company looks forward to the public acclaim this new acquisition will bring forth.
Anglo American: FutureSmart Mining
Anglo American’s approach to technology, digitalisation and sustainability is changing the nature of the way the company mines. These are the step-change innovations that will transform the nature of mining – how the company sources, mines, processes, moves and markets its products – and how its stakeholders experience that business. Anglo American is transforming its physical and societal footprint with FutureSmart Mining.
“FutureSmart Mining is our innovation-led approach to sustainable mining,” Anglo American’s Tom McCulley told Mining Gllobal. In his role as CEO for Anglo American Peru & Group Head of Projects he has overseen investment of more than $5bn at the company’s Quellaveco copper project in Peru.
“These are the step-change innovations that will transform the nature of mining – how we source, mine, process, move and market our products – and how our stakeholders experience our business. It’s about transforming our physical and societal footprint.”
Anglo is undertaking a feasibility study to assess the possibility of rolling out one of its FutureSmart technologies, Coarse Particle Recovery (CPR), at Quellaveco. “CPR crushes particles to 2.5 times larger than normal, reducing energy consumption and mill time, leading to a 20% increase in throughput and 85% water recovery - a key issue in Peru given the concerns around water scarcity,” says McCulley.
“By allowing water to release from the much coarser particles, CPR will reduce the risks associated with wet tailings and ultimately help eliminate them altogether. When combined with low cost additives, it is possible to dewater residual waste and produce dry stackable tailings. This technology remains a focus area for us as water sent to tailings facilities often represents the largest water loss at a mine.”
Quellaveco is going to be the first mine to run the FutureSmart operating model from day one. Anglo’s idea is to build a stable base on which it can layer new technologies, CPR being one of them.
“We will also be a fully digital mine, which brings us future benefits in terms of understanding and applying changes in real time,” adds McCulley. “Our trucks and our drills will be automation-ready. We have taken the approach that, when we decide to move into an autonomous operation, no jobs will be lost, but the nature of some people’s jobs will have to change.”
FutureSmart is a blend of technology and sustainability,” said McCulley in an interview with Global Business Reports. “If you go back to the vision and design of Quellaveco, it has really been focused on the long-term sustainability of the mine through effective use of things like water, energy and the environment. Quellaveco has been focused on technology such as automation, with digital and analytical tools all coming together. We will be looking at future technologies to bolt on as we go to ensure that we are optimizing the sustainable use of resources and remaining cost-effective.”
Anglo American’s Quellaveco copper project in Peru has created 15,000 jobs during construction and approximately 2,500 jobs are planned for operations, increasing Peru’s copper production by a forecast 300,000 tonnes per year. The mine’s first copper production is expected in 2022. To learn more about Anglo American's Quellaveco copper project read our feature here.