Mine
Centerra reports higher output, lower costs at Boroo
Centerra Gold has reported that gold production at the Boroo mine in the fourth quarter of 2012 was 29,878 ounces, compared to 12,866 ounces in the same period of 2011. The production increase of 12,614 ounces is a result of processing higher grade ore from Pit 6 and the addition of 7,486 ounces of production from the heap leach operation which resumed in October 2012.
Complex challenges face Mongolia’s coal industry
The government of Mongolia recognises both that exploitation of its mineral wealth is essential if the economy is to grow and that it must establish a sustainable way forward if it is to avoid the problems that have affected several other resource rich developing countries in the past.
Oyu Tolgoi produces first concentrate
Turquoise Hill Resources has announced that its 65%-owned Oyu Tolgoi copper/gold project has now produced its first copper/gold concentrate after it processed first ore through the concentrator in early January.
Altan Rio intersects 1.77 gt gold over 8.05 m at Chandman-Yol
Toronto-listed Altan Rio Minerals has announced results from the recently completed drilling programme at its 100%-owned Chandman-Yol copper-gold porphyry project, including 8.05 m at 1.77 g/t gold only 16.30 m from surface, at the recently discovered Takhilt target.
No E-TT IPO in 2013
The Tavan Tolgoi coal project is facing financial difficulties and an initial public offering for the mine originally scheduled for this year will not go ahead, its chief executive has said. Ya.
Mongolia tapping Shenhua to replace Chalco
Mongolian ambassador Ts. Sukhbaatar has said his country is reaching out to China’s largest coal producer China Shenhua Energy in an effort to break a deadlock over the terms of the souring coal supply deal with Chalco. The impasse has led in part to Tavan Tolgoi being unable to continue to pay for the logistical operations of transporting and exporting the coal to China, he said.
Mining Minister commissions OT concentrator
The very last week of 2012 saw Oyu Tolgoi LLC take a big step towards the future. With MPs, cabinet members, and ambassadors watching, Mining Minister D. Gankhuyag pressed the activation button on the concentrator to formally mark the commissioning of the largest and most technologically advanced machine ever built in Mongolia.
Ovoot review confirms project economics, says Aspire
Following a review of the prefeasibility study (PFS) of its Ovoot coking coal project, Aspire Mining believes it could be one of the lowest-cost potential sources of coal bound for China. The PFS review confirms the project’s economics, with a net present value of $1.7 billion and a life-of-mine net cash surplus, after taxes and capital of $8.3 billion, based on a medium-term average coking coal price of $200/t.
Boroo Gold gets permission to resume heap leach operations
Toronto-based Centerra Gold has received regulatory approval to resume heap leach operations at its Boroo mine, where operations were suspended in June, 2009, following charges of impropriety by the Mongolian government on issues such as record keeping, land use, and operational procedures.
Peabody is invited to cooperate in developing the West Tsankhi
Erdenes Tavantolgoi , which has started to develop the Tavantolgoi’s “second” mine known as West Tsankhi , taken next step to progress its operation. The company’s sent to the Peabody Energy the proposal to cooperate in developing the West Tsankhi as a contract miner.
Petro Matad extends exploration period for XX block for 5 years
Petro Matad has said it will spend up to US$47 million on exploration programmes on the XX block in Mongolia over the next five years. This comes as the Mongolian authorities extended the exploration period under the production sharing contract (PSC) for the block. Work at block XX has up until now focused on the DavsanTolgoi target, which disappointed last year.