Mining and Exploration

As global financial markets stagger, the metal that used to underpin them all is becoming very attractive. Toronto based and listed Continental Gold is focused on Colombia and is just two years away from large scale production.

As nations run out of money, gold returns to underpin global economics: it’s a good time to be producing it and Detour Gold has got its timing just right in its bid to exploit Canada’s largest gold deposit.

BHP Billiton announced today that it is reviewing its presence in the diamond business, which currently consists of its interests in the EKATI Diamond Mine and the Chidliak exploration project in Canada.

South Afrcia’s Wescoal is to acquire 51 per cent of the Pegasus project in Mpumalanga Province, it has been announced.

The project—an undeveloped metallurgical and export quality thermal coal deposit with a resource of approximately 15 million tons—was previously owned by BHP Billiton Energy Coal South Africa. The project is located approximately 10 kilometres from Witbank, next to Exxaro’s Inyanda colliery.

Khnaiguiyah Mining Company (KMC), a joint venture between United Arabian Mining Company and Alara Resources, is one of the most exciting projects in Saudi Arabia’s newly established mining industry. Chief operating officer Sohan Singh Rathore talks to Jane Alverca.

Technip, a world leader in project management, engineering and construction for the energy industry, is particularly busy in Australia, where its local entity Technip Oceania is keeping its finger on the pulse.

Barrick Gold’s Granny Smith mine in Western Australia has already been in operation for 21 years. General manager Julie Shuttleworth talks to Gay Sutton about the enormous potential for expansion.

Statoil Canada has announced it is investing $1 million into research expertise in reservoir engineering.

The investment is to be matched by the Research & Development Corporation (RDC), and will create the Statoil Chair and Statoil Associate Chair in Reservoir Engineering at Memorial University, Newfoundland, fostering the development of a new Petroleum Engineering research program in the Faculty of Engineering and Applied Science.

Statoil Canada and RDC will each contribute a total of $1 million over the next five years.

Vancouver-based Silvercorp has acquired China’s SX Gold Mining Company for US$22.75 million, it has been announced.

The company has made the purchase through its 77.5 percent owned subsidiary Henan Found Mining Co. A payment of $19.6 million has already been made, with the balance due upon completion of the share transaction and the transfer of the mining and exploration permits. 

Continental Coal Ltd has rapidly shifted from being a junior player in the coal exploration market to achieving profitability as a mid-tier producer. CEO Don Turvey talks to Jayne Alverca.