Mining crowdfunding campaign goes on tour
The team behind the mining industry's first ever crowdfunding campaign has been on a promotional tour across Canada. The Red Cloud Klondike Strike Inc. (RedCloudKS) campaign, with Banyan Gold Corp and Radisson Mining Resource, have been drumming up support for the website, which has been created to attract new capital investment into the mining industry.
By going to www.RedCloudKS.com, investors will get direct access to multiple security offerings of select companies, while mining issuers benefit from an alternative means of capital raising with access to a fresh pool of investors.
This innovative platform addresses the need for change in mining finance," said Chad Williams, P.Eng, President and CEO of Red Cloud Klondike Strike Inc.
This mining-focused, secure, online investment platform enables individual and institutional investors to directly participate in security offerings of publicly-traded and privately-held mining companies.
Important features of the platform:
- Investors get access to security offerings previously only presented to very few individuals or institutions
- Issuers get access to a new pool of investors currently not reached by traditional means
- All security offerings are subject to due diligence checks by a team of mining and finance professionals
- Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer in all provinces of Canada, as well as the Yukon, and is subject to applicable securities regulations
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Unmanned train to allow Vale to reopen iron ore plant
Brazilian miner Vale SA will be able to resume operations at its Timbopeba iron ore dry processing plant in up to two months thanks to the use of an unmanned train, the company said in a statement this week.
Vale - Timbopeba iro ore plant
With the train, Timbopeba will be able to operate at least at 80% of its capacity of 33,000 tonnes of iron ore “fines” per day, reports Reuters.
Vale was forced to shut down the plant in the Alegria mine complex recently after labor authorities in Minas Gerais state banned activities close to the Xingu dam due to concerns of a risk of collapse.
Vale said access by workers and vehicles continues to be suspended in the flood zone of the dam due to the ban even though it remains at emergency level 2, which means there no imminent risk of rupture.
But some workers are allowed entry under strict security precautions and they will get the unmanned train going once it has been tested, which would take between one and two months, the company said.
The unmanned train will travel automatically along 16 kilometers (10 miles) of track operated by a system that can control the speed and activate the brakes, Vale said.
Vale announces first ore at Voisey’s Bay mine extension
Vale has reached the milestone of first ore production at the Reid Brook deposit at the Voisey’s Bay mine expansion project in Northern Labrador, Canada - recognised as the safest mine in Canada.