Mining and Exploration

Over recent years, Cortez Hills has yielded well over a million ounces of gold annually, in the first quarter of last year at a cash cost of $308 an ounce, well below industry averages of between $400 and $500. The key to the success of this operation lies in the nature of the deposit, says George Fennemore, Barrick’s Manager of Corporate Social Responsibility and regional permitting specialist for the company.

Prime Minister David Cameron unveiled the three-year funding programme to support the Afghan Ministry of Mines at an event at Downing Street attended by a host of UK investors and mining contractors.

Estimates of what lies underground in Afghanistan range from $1-3 trillion worth of gold, gems, iron ore, and oil and gas.

The Afghan Minister of Mines, Wahidullah Shahrani, welcomed the new support, saying what Afghanistan needed was "sustainable development for its people in the long term."

Six short months can make a big difference: when we last spoke to Ed Rochette, the energetic chairman of Vancouver-based East Asia Minerals (EAS) his burden seemed heavy. Today it is a lot lighter. Let us recap. When Rochette came in as the chairman of the company he was alarmed by the heavy burn rate of capital.

Wednesday 30th January 2013 was a particular significant date for Canada Fluorspar Inc (CFI). It was on this day that the company proudly announced the results of a newly completed Preliminary Feasibility Study (PFS) for its St Lawrence fluorspar project in Newfoundland.

Historically used in aluminium production, protective clothing containing Kevlar, Teflon for non-stick frying pans, and refrigerants and air conditioning, fluorspar is a halide mineral of increasing importance, specifically when it comes to new manufacturing technologies.

African Minerals (AML) started life in 1996 as the Sierra Leone Diamond Company, focused on Sierra Leone’s deposits of alluvial diamonds. In 2005 it raised £20 million on London’s AIM market and three years later confirmed its Tonkolili magnetite resource in Sierra Leone’s Northern Province.

In the same way that it had a hugely symbolic meaning to ancient Egyptian culture, gold was just as central to ancient Greeks, in this case as a financial commodity. In fact it was as early as 550 BC that the Greeks had begun mining for gold across the Mediterranean and into Middle Eastern territory. By 325 BC, the Greeks had successfully mined across an area spanning from Gibraltar to Asia Minor and Egypt.

The company’s 12 percent profit rise, to the tune of £443 million, was underpinned by the strong performance of its minerals division.

Weir Minerals, which specialises in supplying slurry handling equipment, was boosted by continued demand growth in Chinese and emerging markets for key commodities such as copper.

Weir also said cost efficiencies helped it achieve a record year, which saw revenue up by 12 percent to more than £2.5 billion.

Alberto Salas, president, La Sociedad Nacional de Minería (the national mining society of Chile)

What is the historical role of SONAMI?
La Sociedad Nacional de Minería (SONAMI) is one of the oldest business organizations in Chile. This year we’ll have been running for 129 years and during that time we have played a key role in the development of the mining sector.

Chile is currently responsible for over a third of worldwide copper production. It has been the leading global producer of copper since the 1990s when the government’s liberalisation policy opened the country to the international mining community.