Mining begins at the Teal gold project in Western Australia
Interim Resources, the Australian mining and exploration company has announced that it has completed site mobilisation and commenced pre-strip mining at its Teal gold project in Western Australia.
Intermin Managing Director, Jon Price, said in a statement that contracting partner Resource Mining and the Intermin team have progressed extremely well through mobilisation, site establishment and the commencement of mining.
“We are looking forward to completing the pre-strip and mining our first ore this Quarter and taking advantage of the very strong A$ gold price,” he added.
The pre-stripping process involved clearing, grubbing and topsoil stockpiling of the Teal pit, access roads waste rock dumps and ore pads.
The company has also stated that first expected ore from the open pit mine is scheduled for delivery in the current December quarter.
The Teal gold project
located 11km north west of Kalgoorlie-Boulder in Western Australia, the Teal gold project is situated to make use of a ready workforce, existing transport and toll milling infrastructure available in Kalgoorlie.
Initially, around 15-20,000oz of gold from oxide and transitional ore will be recovered from a shallow open pit mine.
The project has an initial nine-month mine life, but with news that the development of the site and mining operations are on schedule Internim is already exploring financing opportunities to advance operations at the site while also looking at strategies to increase the size of the project.
What is Internim Resources Ltd?
A gold exploration and mining company, Internim focuses on projects in the Kalgoorlie and Menzies areas of Western Australia which are host to some of the richest gold deposits in Australia.
It has been listed on the Australian Stock Exchange for over 20 years.
The company has a number of assets in its portfolio including the Teal Gold Deposit, in which it holds 100 percent ownership.
There is also the Binduli North Gold Project, which is subject to an Earn In Joint Venture agreement with Evolution Mining Limited.
Then there is the Menzies Gold Project, one of the last remaining historic high-grade mining centres to undergo consolidation and modern exploration. Most notably, over 800,000oz has been produced at the site.
Theres also the “exciting growth asset” - the Nanadie Well Copper-Nickel-PGE Joint Venture Project with Mithril Resources Limited (ASX: MTH) near Meekatharra.
To round off the portfolio, Internim is advancing the Calcine Tailings Project, owns a tailing dam in Wiluna, as well as a number of residual project interests, royalties and holdings in ASX-listed companies from which to realise value.
The Price of strong leadership…
The company is headed up by Managing Director Jon Price MAusIMM, MAICD. He has over 25 years’ experience, both in Australia and overseas in construction, exploration, development and mining operations in the gold and advanced minerals sectors. Jon holds a Masters in Mineral Economics from the Western Australia School of Mines and was once the general manager of the Paddington gold and St Ives gold operations in the Western Australian goldfields.
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Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.