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Wits Gold starts seismic survey at Deelkraal South
Posted by Carel van der Merwe at 23.6.10 0 comments
Why Uranium Mining Could Make Someone Rich
Why Uranium Mining Could Make Someone Rich
The "uranium OPEC" failed. But production today is de facto controlled by a handful of companies.
Consider this. The world's top ten uranium mines account for 59% of global production. (The top mine, Saskatchewan 's McArthur River , alone puts out 15% of the world's supply.)
This is very concentrated, compared to other sectors. In the copper sector, the top ten mines turn out just 30% of global supply. For gold, the number is even lower. About 19%.
This means that what happens at a just few uranium mines around the world makes a big difference to the price for the metal.
For this reason alone, good uranium projects are interesting. Any deposit that could become a significant supplier will garner a lot of interest from would-be producers who want to break the stranglehold existing suppliers have on the market. And from existing suppliers, who want to keep as much control as possible over the sector.
But the severe concentration of global production is just one reason to look at uranium projects. Another, and perhaps better, reason is the extremely skewed grade distribution of the world's uranium mines.
Let's look at some charts. The first two show average reserves grade at the world's top ten biggest-producing copper and gold projects (thanks to Dan Edelstein and Micheal George from the U.S. Geological Survey for help in putting these together). The grade distribution for both is fairly even, forming an orderly curve.
Posted by Carel van der Merwe at 23.6.10 0 comments
Zimbabwe platinum poised for lift-off
Zimbabwe platinum poised for lift-off
[miningmx.com] -- ZIMBABWE’S emerging platinum sector appears to be on the verge of a boom, following Impala Platinum’s (Implats’) decision to invest $500m in the second phase expansion of its Ngezi mine.
Posted by Carel van der Merwe at 22.6.10 0 comments
BHP Billiton in $3bn Liberian iron deal
Resources giant BHP Billiton has increased its drive for African iron ore, a move that will allow it to diversify its reliance on Australian mineral stores in the longer term.
At the weekend it was reported that BHP Billiton has signed a landmark mineral development agreement with the government of Liberia.
The agreement is expected to pave the way for new iron ore operations in Liberia's Nimba, Bong, Grand Bassa and Margibi counties.
According to independent newspaper the Liberian Observer, some details of the agreement released by the government put BHP Billiton's total investment portfolios in the country at about $3bn.
Negotiations reportedly took 18 months to conclude.
Super tax is greatest global risk
The Australian newspaper reported that BHP Billiton was planning to develop an iron ore hub in West Africa.
It said BHP Billiton planned to combine development of its Nimba iron ore deposit in Guinea, on the Liberian border, with that of the four Liberian deposits it has been excavating.
Nimba is expected to cost more than $2bn to develop.
"The company believes the area is home to some of the world's richest deposits of iron ore and says it has parallels to the 1960s start-up of Western Australia's famed Pilbara iron ore region," the newspaper reported.
While there has been no direct connection between the Liberian deal and Australia's new tax regime, BHP Billiton has said the tax would force it to prioritise global investment opportunities ahead of those in Australia.
Mining groups have viewed the proposed new tax as the greatest sovereign risk facing their companies globally.(Source:-Net Bridge | Mon, 14 Jun 2010 18:04
[miningmx.com]
Posted by Carel van der Merwe at 14.6.10 1 comments
Iridium
the nickel and copper deposits the platinum group metals occur assulfides (i.e (Pt,Pd)S), tellurides (i.e. PtBiTe), antimonides (PdSb), and arsenides (i.e. PtAs2). In all of these compounds platinum is exchanged by a small amount of iridium and osmium. As with all of the platinum group metals, iridium can be found naturally in alloys with raw nickel or raw copper.
Iridium price: 12 months
Posted by Carel van der Merwe at 14.6.10
DRC says it wants 35% state ownership of all future mines
DRC says it wants 35% state ownership of all future mines
Posted: Monday , 14 Jun 2010
Posted by Carel van der Merwe at 14.6.10 0 comments
Potash and Phosphates
Potash: 12 months
Phosphates: 12 months
List of potash stocks with latest financial data
Posted by Carel van der Merwe at 14.6.10
Rare Earth Elements
Rare Earth Elements News
Rare Earth Elements market basics
REE Handbook - The ultmate guide to Rare Earth Elements
The results are (almost) in for rare earth competitors
List of tech metals stocks with latest financial data
Rank | Country | World Mine Production, By Country (Metric tons of rare earth oxide equivalent) | |
---|---|---|---|
1 | China | 125,000 | |
2 | India | 2,700 | |
3 | Brazil | 550 | |
4 | Malaysia | 380 |
China sets up rare earth industry association (Resource Investing News, 19 April 2012)
China recently announced that it has set up a rare earth association to speed up the unification of the diverse industry, which has drawn criticism from what many overseas trade partners are calling unfair export quotas.
He also said that the project contains one of North America’s largest undeveloped niobium deposits in terms of grade and tonnage, and is the only primary niobium deposit under development in the US.
Dominating the World: China and the Rare Earth Industry
The rare earths are a relatively abundant group of 17 elements composed of the lanthanides plus scandium and yttrium.
- Rainbow Rare Earths Gakara project.The Gakara Rare Earth Project is one of the world’s richest rare earth deposits. It is located in Western Burundi, approximately 20km south-southeast of Bujumbura and covers a combined area of approximately 135km². There is good infrastructure near to the Gakara Project, with good road links to Dar es Salaam, Tanzania and Mombasa, Kenya. Rainbow was granted a mining licence in March 2015 and is valid for 25 years, and is renewable thereafter. Rainbow has a 90% interest in the Gakara Project with a non-dilutable 10% owned by the State. Historical mining at the site demonstrates the consistency of the grade and mineralisation of the concentrate whilst also providing significant detail and validation of the vein/stockwork rare earth mineralisation system. In September 2016, the Company commissioned MSA Group to prepare an independent Competent Person’s Report on the Gakara Project. To see the full Competent Person’s Report, click here The Gakara Project is considered by MSA Group to be an Exploration Target, as defined in the JORC Code. MSA Group has calculated an Exploration Target of between 20,000 and 80,000 tonnes of mineralised material grading 47-67% total REO. The potential tonnage and grade is conceptual in nature as there is insufficient exploration data to define a Mineral Resource and it is uncertain if future exploration will result in the Exploration Target being reported as a Mineral Resource. MSA Group notes that there is scope for further exploration in the Gakara Project area which may result in additional potential being identified. Trial mining is a process undertaken to confirm procedures and methodologies to be applied in full-scale commercial mining of a project. Together with MSA Group, Rainbow has developed detailed trial mining plans for Gasagwe and Gashirwe West, which is projected to last for a total of 27 months and will be used to assess the economic viability of the Gakara Project. Mining of ore at the Gakara Project will be undertaken manually and the trial mining period will be used to effectively train the local workforce to identify and efficiently extract vein material from the host rock. The trial mining will also allow the Company to establish if the grade, width and lateral and down-dip continuity of individual veins are sufficiently developed on a local scale to support a profitable operation. In order to facilitate the production of rare earth concentrate from the run of mine material produced during trial mining, the Company will construct a processing plant at Gakara which has been designed to operate on a batch basis with the capacity to produce over 5,000 tpa of rare earth concentrate without incremental capital expenditure. The run of mine material will be processed simply by physically separating the mineralised vein material from the waste rock without requiring chemical processing. Test work indicates that a combination of crushing, jigs and shaking tables could be used to upgrade the Gakara ore to consistently achieve a concentrate grade of at least 55% total REO, at recoveries of 82-93%. Due to the plant’s small scale and that it will be comprised primarily of standard machinery, the construction is considered low-risk and is estimated to take nine months until full construction.
Namibia Rare Earths files maiden Lofdal resource, confirms HREE
By: Henry Lazenby
Published: 26th September 2012
TORONTO (miningweekly.com) –
Namibia Rare Earths(NRE) had filed a maiden resource for its Lofdal rare earths elements project, confirming the presence of high levels of heavy rare-earth enrichment (HREE) in certain areas of the project.
The National Instrument 43-101-compliant resource estimate, covering Area 4 of the project located in the north-west of Namibia, pointed to “exceptional”
levels of HREE of between 75% and 93% HREE, depending on the cut-off grade, with corresponding total rare earth oxide grades (TREO) ranging from
0.27% to 1.26%.
What distinguishes the project from many other juniors that have entered the market in response to China’s reduction of exports over the past four years
– the country produces over 95% of the world’s rareearth’s supply – is its concentration of what are called heavy rare earths. “Given current rare-earth prices, over 90% of the value in this deposit lies in the four critical heavy rare
earths – europium, terbium, dysprosium and yttrium – with less than 2% of the value relating to lanthanum and cerium, the most common light rare earths,” NRE president Don Burton said in a prepared
statement.
Mining consultancy The MSA Group of South Africa prepared the estimate had identified the presence of an indicated resource, at a 0.3% TREO cut-off, of 900 000 t at 0.62% TREO, with 86% HREE, and an inferred resource of 750 000 t grading 0.56% TREO, with 85% HREE. The resource was drilled to a depth of 150 m and remained open at depth and along strike. At a low-grade cut-off of 0.1% TREO, the resource estimate provided for 2.88-million tons grading 0.32% TREO, with 76% HREE in the indicated category, and 3.28-million tons grading 0.27% TREO, with 75% HREE in the inferred category.
The company said it was still studying the most appropriate cut-off grade. NRE said a metallurgical study programme was also currently underway with Commodas Ultrasort, in Germany, and South African metallurgical specialist Mintek, to demonstrate the viability of extracting the rare earths from Area 4.
Burton also noted that subject to favourable outcomes on the metallurgy studies, the entire mineral resource at Area 4 could be upgraded from indicated and inferred to measured and indicated categories without any further drilling. However, there still remained substantial upside potential to increase the resource through further exploration of the 200 km2 Lofdal carbonatite complex.
The Halifax, Nova Scotia-based company debuted on the TSX in April, after it raised C$25-million in an initial public offering, in preparation for undertaking the resource estimate.
The report states that Steenkampskraal hosted a resource of 131 500 t of rare-earth minerals in the indicated and inferred categories, with about 37 500 t of resources located in the upper and lower tailings dams.
GWMG said it had notified its escrow agent that it had satisfied the escrow release condition of the $90-million convertible bond financing and expects the remaining $10.8-million, earmarked to satisfy interest payments, to be released to the company in due course.
In order to satisfy the escrow release condition, GWMG had to confirm that at least 20 000 t of total rare-earth oxides (TREO) including yttrium, in the sum of the measured, indicated, and inferred resource categories are present at the Steenkampskraal property using a 1% cut-off grade.
The NI 43-101 report pointed to the presence of 13 823.64 t of TREO including yttrium under the indicated resource category and 14 147.76 t under the inferred resource category.
The aspiring integrated rare-earths producer on Wednesday said it had narrowed its first-quarter loss to $3.06-million when compared with the loss of $4.86-million in the same period a year ago.
- Aim-listed African Consolidated Resources (ACR) has signed a joint-venture (JV) agreement with an Australian-based exploration company Rare Earth International (REI) to explore ACR’s Nkombwa Hill rare-earths and phosphate project, in Zambia.
The 720-km2 exploration project was expected to contain a large potential phosphate resource, as well as light rare-earth elements (REEs).
REI would, in terms of the agreement, spend at least $750 000 over the next two years to define an inferred resource to a Joint Ore Reserve Committee- (Jorc-) compliant standard for the project, in order to earn a 30% stake.
It would then spend a further $600 000 over an 18-month period to define an indicated resource to Jorc-compliant standard, the completion of which would lead to an increase in its stake to 50%.
ACR would then have the option to cofund the completion of a prefeasibility study and a bankable feasibility study, with each party maintaining a 50% interest in the project.
However, if it decided not to provide cofunding for the feasibility studies, REI would eventually boost its stake in the project to 75% by providing all the funding.
Corporate finance services provider Ambrian Capital said in a research note that the signing of the JV partnership was a “savvy” move, as it would allow the company to diversify out of its primary country of operation, Zimbabwe.
Further, Ambrian pointed out that while the project’s focus would be phosphate, for which there was plenty of demand in Africa, it would also bring in more experienced partners to focus on the development of the more lucrative REEs.
“There is currently a significant focus on REEs following recent moves by China, the world’s largest supplier or REEs, to restrict exports,” it added.
China plans to allow only a few State-owned enterprises to mine rare-earth metals, as part of a campaign to combat illegal mining and to consolidate its reserves.
Worldwide demand for REEs, which are used in the manufacturing of hybrid cars, superalloys used in the defence industry, cellphones, large wind turbines, missiles and computer monitors, is on the increase, but the majority of the world’s supply, 95%, was still produced by China.
Global demand for REEs was expected to exceed 200 000 t/y by 2014, while a global shortfall of 40 000 t/y was expected by 2015, the US-based Institute for the Analysis of Global Security pointed out in a March report.
This has led to companies relooking at old dormant REEs projects.
Australia’s Lynas Corporation was developing one of the largest REE projects outside China, namely the Mount Weld carbonatite in Western Australia, while US-based Molycorp Minerals had an interest in another large REE resource.
TSX Venture Exchange-listed Great Western Minerals Group also announced earlier this month that it had been granted new-order mining rights for the Steemkampskraal monazite project, in South Africa’s Western Cape province. (Source: miningweekly.com)
Posted by Carel van der Merwe at 12.6.10