PEA shows 22-year life for B.C. copper-gold-moly mine
A preliminary economic assessment for a mine on Vancouver Island, British Columbia is showing promising economics - despite being in a jurisdiction challenging to build mines.
Top global miner BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.
Leighton Holdings subsidiaries Thiess and Leighton Contractors have announced three important new contracts. Thiess has secured a $166 million contract to provide bulk earth works and selected infrastructure for BHP Billiton Iron Ore’s Jimblebar mine near Newman in Western Australia.
Global gold miner AngloGold Ashanti reported record earnings in 2010, and credited higher gold prices for the stellar results.
In a suite of reports released today, the South Africa-based company said it earned US$787 million last year, up from $708 million in 2009. Revenues were up 41%, from $3.916 billion in 2009 to $5.514 billion in 2010.
Image by AngloGold Ashanti
Strait Gold Corporation (TSX-V:SRD), is pleased to report final assay results from a 2000-metre drill program at its Alicia copper-gold project in southern Peru. Highlights include:
- 134.0 metres of 0.29% copper, 0.03 grams per tonne (g/t) gold in hole ALC11-16, including 9.75 metres of 1.27% copper, 0.07 g/t gold and 0.032% molybdenite; and,
- 18.5 metres of 1.25% copper, 0.15g/t gold, 13.3 g/t silver and 0.012% molybdenite in ALC11-17.
Image from Strait Gold Corporation
Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea.
The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.
As Comex gold hit a fresh record high, Societe Generale commodities skeptic Dylan Grice - of the ‘long-term return on commodities is zero' fame - wrote a stirring paean to gold in his latest research report.
Marked by his characteristic erudition, with references to gold's use as a hedge in the world of antiquity, Grice's report is worth reading and thinking about.