Archive for the ‘NEW DISCOVERIES’ Category

Large coal and iron ore reserves found & proved up in Iran

Wednesday, March 4th, 2015

vintage map showing the Middle East, including Iran

Two large coal and iron ore reserves have been discovered in Iran, according to a top official.

The claim by Mehdi Karbasian, Deputy Minister of Industry, Mines and Trade, was reported on Tuesday in the country’s state media, Islamic Republic News Agency (IRNA). Karbasian, who is also chairman of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) told IRNA that 200 million tons of iron ore reserves and 120 million tons of coal reserves respectively were discovered in the Sangan mine, in the eastern province of Khorasan Razavi, during the first half of the current Iranian calendar year, which begins within a day after March 21 of the Gregorian calendar.

The discovery adds to “huge reserves of high-quality iron ore in the country’s central Lut Desert” found last year, according to IRNA.

More detail was provided on Sangan in a paper given at a tailings waste conference in Vancouver, Canada, in 2011, which studied tailings disposal options at the mine:

The Sangan iron ore deposits form part of the east-west trending Kuh-e-Taleb mountain range, and in the Khorasan-Razavi Province in north-eastern Iran (Figure 1). The deposits lie approximately 300 km south of the city of Mashhad, 30 km west of the Afghanistan border and some 18 km north-east of the Sangan town. The deposits can be accessed from Mashhad via two separate ways, one via Torbat Heydariyeh and the other via Torbat Jam.

Iran was the 10th largest iron ore producer in 2012, according to the USGS, when it extracted 28 million tons of the steelmaking ingredient. MINING.com reported the same year that while there is no formal ban on the iron ore trade with Iran, ranking sixth in terms of exports, shipping firms and traders in Europe nevertheless are balking at the financial and political risks in dealing with the country, considering US-led sanctions over its nuclear program.

Canada approves world’s largest copper-gold mining project

Saturday, December 20th, 2014

Copper & Gold ore of 130,000 tonnes per day over a mine life of 52 years

KSM-Mitchell-looking-SE-canada copper gold image www.www-globalcommodities.com

Canada’s minister of the environment on Friday gave the green light to Seabridge Gold’s KSM project in British Columbia, the world’s largest undeveloped gold-copper project by reserves.

The joint harmonized federal and provincial environmental assessment process took nearly seven-years and KSM is only the second metal mine in five years to receive approval by Canada and BC.

Since 2006, Seabridge has spent more than $176 million in exploration, engineering and environmental work to bring the project this far.

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Seabridge Gold plans combined open-pit and underground gold copper silver and molydenum mine in the Kerr, Sulphurets, and Mitchell Creek watersheds located approximately 65 kilometres northwest of Stewart, BC and roughly 35 km northeast of the Alaska border.

The deposit boasts 38.2 million ounces of gold, 9.9 billion pounds of copper, 191 million ounces of silver and 213 million pounds of molybdenum provable and probable reserves.

The mine is expected to process 130,000 tonnes per day of ore over an anticipated mine life of 52 years.

KSM forecasts 1,800 direct and 4,770 indirect jobs across Canada during the five-year construction period and 1,040 direct jobs annually while in production.

During construction, Seabridge will spend $3.5 billion in British Columbia and $6 billion in Canada. Over the life of the mine’s operations, more than $400 million in GDP will be produced for British Columbia and more than $42 billion for Canada.

Seabridge Gold holds a 100% interest in several North American gold resource projects with its Courageous Lake gold project located in the Northwest Territories its principal asset outside KSM.

project & construction finance banner image www.money-au.com (3)

Henry Sapiecha

Rio, BHP on the verge of developing U.S. largest copper mine

Friday, December 5th, 2014

rio-bhp-getting-close-to-develop-u-s-largest-copper-mine image www.www-globalcommodities.com

Arizona’s lawmakers slipped Tuesday night a piece of legislation that would allow mining giants Rio Tinto (LON:RIO) and BHP Billiton (ASX:BHP) to jointly build a massive copper mine in the state as part of a deal with the U.S. Government.

According to Arizona Republic the bill —set to be passed before the end of the year— would allow Rio to acquire 2,400 acres of the federally protected Tonto National Forest in southeast Arizona in exchange for 5,000 acres in parcels scattered around the state.

The land land-swap bill was added into the 1,600-page National Defense Authorization Act, the annual defense appropriation legislation that must be passed each year, according to the report.

Both miners have said they expect operations at their Resolution Copper project —55%-45% owned by Rio and BHP— to start as early as 2020. But they have had to deal with legal hurdles and opposition by the San Carlos Apache Tribe and other southwestern nations, who claim the massive project would weaken the ground beneath their sacred Native American lands.

Analysts are confident this time the miners will get their wish granted.

Analysts are confident this time the miners will get their wish granted.

“This land swap has faced a long and bumpy road in Congress,” Caitlin Webber, a Bloomberg Intelligence analyst told The Daily Telegraph.

“Finally being tucked into this must-pass bill is the closest it’s been to enactment,” she added.

Resolution Copper, located in Arizona’s famous Copper Corridor, is expected to create 3,700 direct and indirect jobs and bring more than $6o billion in economic benefits to the state over its 66-year life. Rio and BHP estimate that output from the mine will meet 25% of the U.S. total demand, which will make it North America’s largest copper mine.

Learn more about the project:

5,000 workers to be hired for a new huge $15bn coal mine in Australia

Monday, November 10th, 2014

coal stack image www.www-globalcommodities.com

 

 

 

 

 

The developer of Australia’s US$15bn Carmichael coal mine, one of the world’s largest fossil fuel projects, said it will start hiring the over 5,000 people it needs for the construction phase beginning next year.

With the announcement, Adani Group —an Indian conglomerate with interests spanning mining, energy and logistics— has doubled the estimates made when the coal mine and rail project got its final approval.

carmichael-coal-mine-map image www.www-globalcommodities.com

 

 

 

 

Map from the Queensland’s Department of State Development, Infrastructure and Planning web site.

Designed to eventually produce 60 million tonnes of thermal coal a year, the project consists of six open-cut pits and up to five underground mines, to supply coal-hungry Indian power plants with enough of the fossil fuel to generate electricity for up to 100 million people.

According to Ferret Group Media, Adani is accepting resume submissions through its website. It will be hiring for coal exploration, coal mining, rail construction and operations, infrastructure construction, and port expansion and operations.

The port Adani will use, Abbot Point, has been the centre of heated debate, as conservationists opposed a proposed expansion on the ground the project would dredge up 3 million cubic metres of sand and then dump it near the Great Barrier Reef.

Opposition to the port expansion and the proposed Galilee basin coal mines has grown in recent weeks. First UNESCO warned it might place the Great Barrier Reef on its endangered list as a result of the port expansion. And last week US ice cream company Ben & Jerry’s launched a Save the Reef campaign that prompted authorities to call a boycott from Australian consumers, as they claim it is “propaganda” that has damaged the reputation of the reef, jeopardizing jobs and tourism dollars.

Henry Sapiecha

Evironmental Protection Agency grants Kimberley rare earth mine approval in Western Australia

Monday, August 18th, 2014

trucks working on mine site image www.www-globalcommodities.com

A rare earth elements mine in the Kimberley has been recommended for conditional environmental approval.

Northern Minerals’ flagship venture the Browns Range Project, which is about 160 kilometres south-east of Halls Creek, received the Environmental Protection Authority’s recommendation on Monday.

The mine straddles the West Australian and Northern Territory border on the Browns Range Dome and is expected to produce 279,000 kgs of dysprosium a year over its 10-year mine life.

A Northern Minerals spokeswoman said production was targeted to begin in 2016.

EPA chairman Paul Vogel said the agency recommended several conditions for the mine, including the development of a significant fauna conservation plan before any ground-disturbing activities began.

The EPA’s report will be open for appeal until September 1.

AAP

Henry Sapiecha

SHALE OIL DISCOVERED IN SOUTH OF ENGLAND BY THE BILLIONS OF BARRELS

Saturday, May 24th, 2014

BILLIONS OF BARRELS OF SHALE OIL DISCOVERED IN THE SOUTH OF ENGLAND

billions-of-barrels-worth-of-shale-oil-found-in-southern-england image www.www-globalcommodities.com

About 4.4 billion barrels-worth of shale oil have been found in the ground beneath the south of England, according to a report published Friday by the British Geological Survey (BGS).

 

The study, commissioned by the Department for Energy and Climate Change and released this morning, says the huge oil reserves lie under the Weald Basin in Kent and parts of Sussex and Surrey.

 

How much of this is recoverable is not yet known — further drilling and testing of new wells will be needed to establish this, but the discovery is set to spark a new stage in the battle between environmentalists and energy firms over the controversial topic of fracking.

 

The discovery has already pushed British authorities to start mulling plans to ease rules on accessing shale oil and gas, including drilling without landowners’ permission

The discovery has already pushed British authorities to start mulling plans to ease rules on accessing shale oil and gas, including drilling without landowners’ permission, reports Reuters.

 

Under the new plans, energy firms will be allowed to dig 300 metres (1,000ft) down for shale gas and deep geothermal operations provided they notify local communities and give them a “voluntary community payment” for access to the land of US$34,000 per well.

 

Last year, the BGS published a study of the Bowland Shale in northern England, which, it said, contained about 1,300tn cubic feet of gas. Analyst say that even if only a tenth of that were extracted, it would be the equivalent of 40 years’ gas supply for the UK.

weald-basin map image www.www-globalcommodities.com

Henry Sapiecha

 

LIQUIFIED NATURAL GAS IS HUGE IN AUSTRALIA BUT COST BLOWOUTS WITH UNION ACTIVITIES COULD STIFLE IT

Tuesday, May 28th, 2013

THE MASSIVE EXPANSION OF LNG IN AUSTRALIA & UNION THREAT

LNG PIPES IMAGE www.www-globalcommodities.com

The speed and scale of Australia’s liquefied natural gas boom are big reasons for the industry’s growing cost pressures, Resources Minister Gary Gray says, while conceding that ”unreasonable” union wage demands are also contributing to the problem.

As the oil and gas industry heaps pressure on governments to tackle rising labour and construction costs – or risk losing out on more than $100 billion of future investment – Mr Gray said the unprecedented boom, with three major gas plants being built in Gladstone, was unforeseen.

”And so some cost pressures grow because of the very large impact of what it is that companies are actually doing,” he said. ”Nowhere in the world has anyone attempted the kind of ramp-up in LNG that we have in prospect in Australia.”

But speaking to reporters at the Australian Petroleum Production and Exploration Association conference in Brisbane on Monday, Mr Gray said militant behaviour by certain unions, including the Maritime Union in Western Australia, was ”unreasonable”.

”We do have to be conscious that unreasonable wage demands do place pressures on projects,” he said. ”My observations are not anti-union, my observations are about how prudent that behaviour is.”

But the oil and gas industry remains hell-bent on government action, not just on labour cost but other productivity issues such as the removal of perceived duplication in environmental approval processes.

Exxon Mobil vice-president Mark Nolan said Australia was an attractive place to invest in but also had ”significant disadvantages in labour costs and labour productivity. I think the government has a role to help us manage labour relations, there’s no question about that, it’s a significant factor. As we consider projects around the world, those sorts of issues drive our decisions.”

Exxon Mobil is operating the Scarborough gas field in a $10 billion joint venture with BHP Billiton. Mr Nolan said it remained a ”very challenged” project owing to the dry gas and the shallow, broad nature of the field, requiring expensive horizontal drilling.

Other oil and gas industry leaders, including Chevron managing director Roy Krzywosinski and APPEA chief executive David Byers, warned that government inaction on rising costs could cost the economy $100 billion in projects.

And Royal Dutch Shell global chief executive Peter Voser told the conference ”the policy decisions made today will have a profound effect on your economy and society”.

The commentary prompted Infrastructure Minister Anthony Albanese to brand the energy industry as ”self-interested”.

But opposition resources spokesman Ian Macfarlane said Mr Albanese was ”on his own” if he thought Australian wages were internationally competitive.

”A cook on an oil rig gets paid more than Anthony Albanese,” Mr Macfarlane said. ”If it’s costing twice as much to do a project here as it is somewhere else in the world, we’re not being competitive.”

The government has also come under pressure from the manufacturing sector, which is concerned that soaring gas prices and a looming east coast gas crisis will exacerbate widespread job losses.

Amid claims from Manufacturing Australia that 200,000 jobs were at risk, Mr Gray outlined a ”comprehensive” government analysis of the domestic gas market.

But the government did not agree that a domestic gas reservation would keep gas prices down or put more gas into the local market. ”In our view it would create uncertainty and deter investment in new gas supply,” Mr Gray said

20130515152755-300x250

Henry Sapiecha

fine gold line

AUSTRALIA THE RESOURCES RICH NATION UNEARTHS HUGE PINK DIAMOND IN RIO TINTO ARGYLE MINE

Wednesday, February 22nd, 2012

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THERE ARE DIAMONDS & THEN THERE ARE DIAMONDS LIKE THE ARGYLE PINK JUBILEE

Mining giant Rio Tinto sources said that Rio has unearthed a “remarkable” 12.76 carat pink diamond in Australia, the largest of the rare and most precious stones ever found in the resources-rich nation.

Named the Argyle Pink Jubilee, the huge rough stone was found at Rio’s pink diamond holdings in the Kimberley region of western Australia and would take almost 2 weeks to cut and polish, it was said.

“This rare diamond find is generating incredible excitement. A diamond of this calibre is unprecedented — it has taken 26 years of Argyle production to unearth this precious gem and we may never see one like this again,” said Josephine Johnson from Rio’s Argyle Pink Diamonds division.

Gold Company

“The individual who gets to wear this remarkable pink diamond will be an  incredibly lucky person.”

The light pink Argyle Jubilee has similar colour tones to the 24-carat Williamson Pink given to Britain’s Queen Elizabeth II as a wedding gift which was later re-set into a Cartier brooch for her coronation.

The Williamson was discovered in Tanzania in 1947 and  ranks among the finest pink diamonds in existence.

Rio produces more than 90 percent of the world’s pink diamonds from the Argyle mine, and said, typically large stones like the Jubilee typically went to museums, were gifted to royalty or end up at prestigious auction houses like Christie’s for sale to the highest bidder.

Christie’s had only auctioned 18 polished pink diamonds larger than 10 carats in its 244-year history, Rio said.

When the Jubilee pink diamond has been cut and polished it will be graded by international experts and showcased globally before being sold by invitation-only tender later this year.

This 12.76 carat sparkling gem which was discovered at the Rio Tinto Argyle mine is among the largest and most valuable pink diamonds in the world.

The rarest of diamonds, pink diamonds have been  known to fetch about $1 million a carat on the market.

Sourced & published by Henry Sapiecha

 

PERUVIAN CONGA GOLD MINE PROJECT NEEDS TO PACIFY OBJECTORS FIRST

Tuesday, January 17th, 2012


Ka Gold Jewelry

CONGA GOLD PROJECT IN PERU IN STALL MODE BUT HOPEFUL TO PROCEED

The Wall Street Journal reports Peru on Friday announced a programme of social and infrastructure investments in its poor Cajamarca region aimed at winning over local protesters who have brought to halt Newmont Mining’s $4.8 billion Conga project over environmental concerns.

Protestors, led by Cajamarca’s Maoist governor Gregorio Santos, say Conga will destroy the environment by transforming four high Andean lakes into reservoirs for mining operations.

In December the government was forced to declare a state of emergency after boulders were used to block exits from the regional capital of more than 200,000 inhabitants, schools, hospitals and business were closed and dozens injured in clashes with police.
A gift with a meaning by the artist David Weitzman.
For yourself or your love one’s.

The Wall Street Journal reports Peru’s new Prime Minister, Oscar Valdés, who was elevated to the position after a cabinet shake-up prompted by the Conga crisis said late Thursday that he thought work on the project which was stopped in November could restart by March:

On Friday, René Cornejo Diaz, the housing minister, was sent to Cajamarca to tout the federal government’s program to invest 4.3 billion soles, about $1.6 billion, in infrastructure and expanded antipoverty programs in Cajamarca.

But Cajamarca leaders, including the governor, Gregorio Santos, didn’t seem likely to be swayed by government largess. “The position of the regional government is clear, Conga is not going ahead,” Máximo Léon, a top adviser to Mr. Santos, said in a telephone interview.

Conga has gold deposits worth about $15 billion at current prices and would be the biggest investment ever in Peru mining.

Conga has turned into a political nightmare for President Ollanta Humala who took office last year and who has on many occasions publicly backed the project. The bitter dispute is seen as a test case for scores of conflicts triggered by mining investments in the country.

At least 200 communities nationwide in Peru have organized to stop mining or oil projects, usually over environmental concerns or to demand direct economic benefits in rural towns.


Ka Gold Jewelry

Sourced & published by Henry Sapiecha

 

WORLDS LARGEST NATURAL GAS PLANT TO BE BUILT IN AUSTRALIA @ AROUND $34BILLION

Friday, January 13th, 2012

North Australia to have a liquiefied natural gas plant built by Japan

Japan’s largest energy explorer has today committed to build the $34 billion Ichthys liquefied natural gas project in Australia, which would become one of the world’s biggest LNG facilities with an estimated 40-year life of processing gas from WA’s Browse Basin.

Inpex chair Naoki Kuroda announced the much anticipated final investment decision in Darwin, the site elected to build the project’s onshore gas processing facility after early plans to build the hub north of Broome.

The investment would be the single-largest in Australia from the Asian nation and create an initial 3000 jobs in Darwin with 1000 more off the WA coast. Once the project is fully operational it would shrink to 700 permanent staff.

The project would provide long term stable supply of energy to Japan after the Dai-Ichi nuclear station in Fukushima was crippled from an earthquake and tsunami in March.

Ichthys is among $200 billion worth of LNG developments planned, or under construction, in Australia as the country moves toward the top spot in the global rankings of LNG suppliers.

Australia, with projects led by Chevron, Royal Dutch Shell, Woodside, will “rival” Qatar as the world’s biggest exporter by 2016, Energy Minister Martin Ferguson has said.

“Ichthys will contribute significantly to the growth of the Australian economy while strengthening friendly ties between Japan and Australia,” Mr Kurodo said.

He said construction on the project was expected to begin at the Blaydin Point site in Darwin within the next month.

Mr Karudo said tenders for the project would have to demonstrate how they would maximise use of Australian products and services to be successful.

Sourced & published by Henry  Sapiecha
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