ZMDC and Essar Africa Explore Iron Ore Deposits
The Zimbabwe Mining Development Corporation has teamed up with Essar Africa, the Indian steel conglomerate which has significant interests in minerals, to explore iron ore deposits.
Through its subsidiary, NewZim Minerals, Essar owns 80 percent of iron ore claims at Buchwa Mine, Ripple Creek and Manhize Ranch, while the Zimbabwe government owns 20 percent.
In an AllAfrica report, Industry and Commerce Minister Mike Bimha said extensive exploration was on course after ironing out a number of issues regarding the claims.
He was reported as saying: “There have been some exploration work done by Essar in the area before, but we have resolved that this should be done in partnership with ZMDC.”
The Minister explained that once it was sure of resources for mining then the ore from Manhize would be blended with ore from other areas to reach Essar’s required grades.
In the long term, Essar also plans to set up a benefication plant which would assist in developing local communities by creating new jobs and empowering local businesses.
Essar Minerals owns a growing portfolio of iron ore and coal mines in India, Indonesia, Mozambique and the USA.
It also has an iron ore prospecting license in Brazil and various states in India. The company has access to more than 1.6billion tonnes of iron ore reserves and 450 million tonnes of coal reserves.
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.