Mining and Exploration

Turkish mine Çayeli Bakir is the only mine in the north-eastern province of Rize. Jane McCallion talks to managing director Iain Anderson about the mine’s recent multi-million dollar capital investment programme and its close relationship with the local community.

Çayeli Bakir is an underground copper and zinc mine located in the north-east of Turkey, close to the Black Sea coast. The facility, a wholly owned subsidiary of Canada’s Inmet Mining, became operational in 1994 and is expected to run until at least 2017.

Wessex Exploration has received a surprise takeover offer from French oil major Total, sending the Bristol-based company’s shares rocketing by over 30 per cent.

Total said it is looking to buy Wessex, which has interests in the south of England and offshore Africa, for around £71 million.

Atacama Pacific has entered into an option agreement with AMX de Chile to explore for and acquire water use rights near its Cerro Maricunga gold project.

"We are very pleased to have taken another significant step forward towards the potential development of the Cerro Maricunga project," said Carl Hansen, president and CEO of Atacama Pacific.

Providence Resources has announced that its Barryroe well has delivered the first commercial flow rate of oil offshore Ireland.

Barryroe is located at a depth of 100 metres in the North Celtic Sea Basin, approximately 50 kilometres offshore southern Ireland. Oil and gas is successfully flowing from the well at double the rate expected.

Providence holds an 80 per cent interest in Barryroe, with Lansdowne Oil & Gas holding the remaining 20 per cent.

In the 15 months since listing on the Australian Securities Exchange, junior exploration company Radar Iron (ASX: RAD) has established a pipeline of iron ore prospects in the Yilgarn region of Western Australia. Managing director Jonathan Lea talks to Gay Sutton about the thrill of the chase.

With more than half a million ounces of gold resource outlined in its 614 square kilometre properties in New South Wales, and the expectation of going on to discover 10 times that amount, Hill End Gold is on the brink of commencing production.

Morano Resources has entered into an option agreement to purchase Zarmadan Resources Corporation and its Rumri gold project in Tajikistan, it has been announced.

The Rumri project is located in the Tavildara region of Tajikistan, about 250 kilometres east of Dushanbe, near the village of Sangvor in the southern Tien Shan gold belt. The belt hosts a number of world-class gold deposits and globally significant gold producers.

Lindsay Shankland, managing director of Manitou Southern Africa, talks to Gay Sutton about building a materials handling brand for the mining sector and taking those products worldwide.

It’s not everyone who can say they truly love the business they are in; but Alan Swaby talks to one such manager currently working deep in the African bush.

In its first partial year of production, Osisko Mining Corporation has reported net profit of $37.8 million for Q4 2011.

The Canadian Malartic mine reached commercial production on 19 May, 2011, contributing to a net profit of $18 million for the year, compared to a loss of $17.8 million in 2010.

Mine operating profits during the fourth quarter totaled $39.5 million, and $79.5 million for 2011.