Week in Review: Discover Everything You Missed Including Stories, Videos and Pictures
Glencore Begins $589M Expansion of Copper Mine in Queensland
Swiss-based Glencore has invested $589 million into the expansion of the Ernest Henry Mine in Queensland. The investment aims to increase production and extend the life of the mine by transitioning the copper site from an open-pit to underground shaft mine.
[VIDEO] Women in Mining: Kinross Gold
Mining has always been a male dominated industry. The appeal of digging giant holes in the ground with loud and heavy equipment has always attracted an overwhelming majority of male occupants. The number of female occupants, however, is not so much.
Lulo Project Could Become Angloa’s Biggest Diamond Mine Ever
ASX-listed Lucapa Diamond Company has announced a two-year plan to construct an Angolan mine that many expect will replace the country’s largest diamond mine, Catoca.
The Lulo deposit, which is 700 kilometers east of Luanda, has potential to knock Catoca out of the top spot for volume of carats extracted. Stones from the deposit are fetching $6,533 a carat compared to the Catoca deposit, which only bring in $100 per carat.
Top 10 Richest People in the Mining Sector
#10 –Beny Steinmetz - $3.5 million
Beny Steinmetz is an Israeli businessman who has earned his wealth through mining, diamonds, and real estate. The billionaire, who inherited the Geneva-based Steinmetz Diamond Group from his father, has gone on to form the Beny Steinmetz Group Resources (BSGR), and recently acquired one of the world’s largest untapped iron ore deposits in Simandou.
Komatsu Rolls Out iPhone App for KOMTRAX
Available through the Komtasu Australia website, the new app gives miners instant access to vital information on KOMTRAX equipped Komatsu machinery. With the touch of a button the app provides users with real-time updates on equipment fuel consumption, machine productivity, maintenance updates, and GPS location.
How Anglo American Manages Community Relations
The cold hard truth is community relationships matter. The ability to sustain rapport with surrounding areas can almost guarantee the success a mine site, and company, will have. Things like worker strikes and protests have shown the effects bad relationships can have on mining companies – and it’s not cheap.
REPORT: Freeport-McMoRan and Indonesia Reach Agreement on MoU Contract
US miner Freeport-McMoRan Copper & Gold Inc. has agreed on a Memorandum of Understanding (MoU) with the Indonesian government over its contract renegotiations, a major step in resuming copper exports from the country.
Interview with BHP Billiton: How the Mining Giant Employs Tech Innovations
The age of technology has finally arrived in the mining sector. Companies are beginning to embrace new technological advancements, implementing a wide range of initiatives into their operations to increase productivity, reduce costs, and enhance overall safety performance. One of the major driving forces in boosting productivity has become automation.
Anglogold Ashanti Appoints New Chief Financial Officer
South African miner Anglogold Ashanti has announced the appointment of new chief financial officer Christine Ramon.
She will replace Richard Duffy, who is stepping down from both the Board and Executive Committee, as both CFO and Executive Director of the Board effective October 1.
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.