Vale has focused on sales of better quality iron ore, mostly from its S11D project in Pará state, as demand for the cleaner and less polluting product rises in China, its main market.
This will mean Geoscience Australia and the United States Geological Survey (USGS) will work closely on exploration, extraction, processing and research and development.
The world’s No.1 miner had decided to offload Cerro Colorado mine in May last year, as part of chief executive Andrew Mackenzie’s bid to focus on large assets in commodities such as iron ore, copper and oil.
Combined indicated and inferred resources for the satellite deposit, located 15 km northwest of its Essakane operation in Burkina Faso, amount to 376,000 gold ounces.
VanadiumCorp and Electrochem Technologies and Materials have signed a patent option agreement allowing Ultra Pure Systems to purchase an exclusive licence to their VanadiumCorp-Electrochem processing technology (VEPT)