Archive for November, 2011

SMALL GOLD MINES IN CHINA TO BE SHUT DOWN

Wednesday, November 30th, 2011

CHINA TO WIND DOWN SMALL GOLD MINES

China’s Ministry of Industry and Information Technology (MIIT) is putting together new standards for the gold industry which will raise the startup barriers, and entities with daily gold processing capacity of less than 50 tons will have to get out of the industry, the Shanghai Securities News said on Tuesday.

Local governments, Reuters reports, have already received orders to shut small gold miners down.  The industry ministry is planning to go even further, by closing mines with a daily gold processing capacity of below 100 tonnes and halting approvals for small ore processing companies.

In addition, large gold miners will be encouraged to expand overseas in order to increase resource supplies.

China, the world’s largest bullion producer, currently has no limits on gold production and production is determined by the gold producers, adds the report.

The record-high prices over the past two years has encouraged miners to boost gold output at all costs, including dubious & dangerous practices that have heavily polluted rivers and soil and, according to Reuters, caused cancer-related deaths to soar in soeveral areas.

Sourced & published by Henry Sapiecha

MINING INVESTMENT IN AUSTRALIA REACHES RECORD LEVELS

Wednesday, November 30th, 2011

Australian mining investments

reach a new historic record

Cecilia Jamasmie | November 29, 2011 Print Article

Australia’s total investment in the mining & resources industry soared by 30% in the past six months to a record $231.8 billion, according to the Bureau of Resources and Energy Economics latest Mining Industry Major Projects – October 2011 report.

The study, issued today, includes a record 102 projects at an advanced stage of development, including 40 minerals projects, 37 energy projects, 21 infrastructure projects and four mineral processing projects.

“Although uncertainty surrounds the outlook for futures prices in commodities, exploration expenditure is expected to remain high, providing resource prices stay high,” the report says.

Lead author and bureau resources manager Alan Copeland said 93 per cent of the projects involved oil, gas, iron ore and coal and totalled $6.2 billion – just shy of the highest amount on record and double the average of the past 30 years.

Canberra Times reports that the figures come just before Treasurer Wayne Swan issues the mid-year Budget update, which will show the turmoil in Europe has helped strip a further $20 billion from revenue over the next four years. He is expected to reveal further cuts to spending.

Western Australia accounts for around 64 per cent of expenditure on advanced projects with final investment decisions announced for the Wheatstone and Prelude LNG projects in the last six months.

There are now a record 102 minerals and energy projects that have reached a final investment decision.

Sourced & published by Henry Sapiecha

OIL & GAS DISCOVERIES OFF MADAGASCAR COAST

Tuesday, November 29th, 2011

HUGE DEPOSITS OF OIL & GAS FOUND OFF THE COAST OF MOZAMBIQUE


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Anadarko Petroleum, the US oil and gas independent, has more than doubled the estimated size of its biggest natural gas discovery, located off the coast of Mozambique.

“This could be one of the most important natural gasfields discovered in the last 10 years,’’ Jim Hackett, Anadarko’s chief executive, told the Financial Times.

Mr Hackett said the Barquentine-3 appraisal well encountered more than 662 net feet of natural gas pay. That expanded the estimated recoverable resource range to 15 to 30 plus trillion cubic feet (Tcf) of natural gas, with an estimated 30 to 50 plus Tcf of natural gas in place.

Anadarko has not released how much it plans to invest but the size of the find indicates it could easily surpass $10bn over the life of the field. “There is no question this will be a commercial project,’’ Mr Hackett said.

The well is in the same offshore Mozambique deepwater in which Eni, the Italian oil group, said in late October it had made an extensive gas discovery. Eni estimated the size of its find at 15,000bn-20,000bn cubic feet. The well was then deepened, and Eni put the size at 22,500bn cubic feet.

Anadarko, which has drilled six successful wells in the area, has a working interest of 36.6 per cent in 2.6m-acre field known as Offshore Area 1. It has five junior partners with Mitsui E&P Mozambique holding 20 per cent.

Anadarko said it will be accelerating its drilling programme with two dedicated rigs. “We will be advancing this very aggressively,’’ Mr Hackett said.

The exploration and appraisal will determine the ultimate size of recoverable resources but Mr Hackett said the target was to begin construction in 2013 with a goal to bring the resources to market in 2018.

Anadarko is planning a large liquefied natural gas (LNG) development to support the field. It is being designed to consist of at least two trains – facilities to liquefy the gas – with the flexibility to expand to six.

The announcement follows Anadarko’s agreement last month to pay $4bn to BP to settle claims related to the Macondo oil spill in the Gulf of Mexico, an attempt to draw a line under the disaster. The spill had weighed on the company, which was a junior partner in that well.

While Anadarko had compartmentalised the risk and continued a strong exploration programme that has yielded significant finds in recent years, ranging from west Africa to Brazil to the US, the uncertainty over how much it would be forced to commit to Macondo claims had kept investors from fully valuing its pipeline of development projects.

Sourced & published by Henry Sapiecha

HUGE COPPER DEPOSITS FOUND IN ALASKA.'PEBBLE DEPOSITS' VIDEO EXPLAINS HERE

Sunday, November 27th, 2011

The Pebble Project is a mineral exploration and development project owned by the Pebble Limited Partnership, an Alaska limited partnership formed between a wholly owned US subsidiary of Anglo American PLC and a wholly owned entity of Northern Dynasty Minerals Ltd. Based in Anchorage, Alaska, the Pebble Partnership is focused exclusively on the responsible development of the Pebble Project in a way that will optimize benefits for local communities while protecting important environmental values and traditional ways of life. The partnership was formed to advance the Pebble Project, one of the most important concentrations of copper, gold, molybdenum and silver in the world, toward permitting, construction and operations

http://video.mining.com/?v=2168

Sourced & posted by Henry Sapiecha

AIR & NOISE POLLUTION INFO IN MINING VIDEO

Sunday, November 27th, 2011

Air and noise pollution are two major concerns that communities have about neighboring mining operations. Governmental regulations are in place to limit the amount of air emissions allowed in the mining industry. Two types of air emissions must be controlled, point-source and fugitive emissions. Wet-suppression, Bag-house filtration, or enclosures can reduce point-source dust emissions. Wetting aggregate pile during loading, wetting roadways and controlling the speed limit of vehicles will reduce fugitive emissions. Blasting creates short term dust emissions and ground vibrations. Acceptable blasting times and vibration limits must be adhered to in order to minimize community complains. Enclosures will also reduce the amount of noise pollution emitting from the plant. Shrubs and trees will act as a buffer zone between operational noise and the community. Author: Maryland Center for Environmental Training / College of Southern Maryland Publication D

http://video.mining.com/?v=1164

Sourced & posted by Henry Sapiecha


MINING WATER TREATMENTS VIDEO EXPLAINS DO'S & DONT'S

Sunday, November 27th, 2011

The protection of water resources is essential to mining operations. Process water is generated through plant operations. Process water can be managed through closed-loop process water settling ponds. Stormwater should be directed away from process water. If it comes in contact with process water it must be treated as process water. Regular inspections will ensure that your water controls are working properly. A spill and leak countermeasure control plan must be drawn up and kept onsite. Petroleum products should be properly protected and stored. The plant is responsible for any onsite spill regardless of the source. Author: Maryland Center for Environmental Training / College of Southern Maryland Publication Date: 2000 http://www.p2ric.org/video/index.cfm

http://video.mining.com/?v=1165

Sourced & posted by Henry Sapiecha

MINE TAILINGS TECHNOLOGY APPLIED IN EMERALD AUSTRALIA-VIEW VIDEO HERE

Sunday, November 27th, 2011

Suncor Energy Inc.’s new Tailing Reduction Operations use new technology and management processes that are expected to reduce tailings reclamation time by up to two decades, as compared to current methods. The reduced reclamation time is attributed mainly to a new polymer flocculent that can separate fine clay particles from water in the mature fine tailings (MFT) faster than previous technology. Once separated, water can be recycled back into Suncor’s operations, and the leftover dry matter can be reclaimed in place or moved to another location for final reclamation. By speeding up the drying process, Suncor has increased their ability to process MFT from 1500 tonnes per month (2009) to 25000 to 30000 tonnes per day. Processing MFT faster allows both for faster reclamation times, and also significantly reduces the need for the number of tailings ponds.

http://video.mining.com/?v=3158

Sourced & posted by Henry Sapiecha


IRON ORE PRICES DROP SUBSTANTIALLY TO EFFECT BOTTTOM LINE OF STEEL MAKERS

Friday, November 4th, 2011

More bad news for iron ore, coking coal prices: world’s largest steelmaker profits halve, sees worse ahead

Frik Els, 3 Nov 2011 – PERMALINK

ZeeNews report the world’s largest steel-maker Arcelor Mittal on Thursday reported a dip of over 51% in net income to $659 million for the quarter ended September 30, 2011, due to rising raw material costs and a fall in demand. The Indian giant also said it will face increasing pricing and volume pressures in the final quarter and is idling production as a result – it has mothballed eight furnaces in Europe and permanently retired another just over the last two months. Arcelor’s gloomy outlook prompted one analyst to observe: “We’re in a very dark market environment right now.”

Sourced & published by Henry Sapiecha

ROUGH DIAMONDS.THE WORLDS LARGEST SUPPLIER IS RUSSIA

Wednesday, November 2nd, 2011

Russia is the world’s largest source of diamonds in the rough.

In 2010, it accounted for 23.5% of the total diamond production in terms of volume, and 25% in terms of value.

New assessments from Frost & Sullivan, Outlook of the Russian Diamond Market, find that the market earned revenue of $4.79 billion in 2010 and is estimated to reach $5.74 billion in 2015. Deployment of modern equipment will be essential for productive outcomes in mining low-grade ore.

Sourcd & published by Henry Sapiecha

ROUGH DIAMOND SELLS FOR $16.5 MILLION

Wednesday, November 2nd, 2011

Gem sells rough for $16.5 million and negotiates

for cut of polished profit

Frik Els | October 25, 2011

close-up of man cutting diamond facets on spinning wheel

London-listed Gem Diamonds announced last Tuesday that it has sold the world’s 14th largest white diamond discovered at its Letšeng Mine in Lesotho two months ago for $16.5 million in cash. Gem will also share in the profit of any polished diamond/s cut from the 550 carat Letšeng Star.

Letšeng is fast-becoming the richest source of large diamonds in the world and without the occasional large diamond find, the Letšeng pipe would probably be a marginal deposit, but the mine, 30% owned by the King of Lesotho, has also yielded  the 478 carat Light of Letšeng that went for $18.4 million in 2008 and two other big diamond rocks.

Sourced & published by Henry Sapiecha

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