Posts Tagged ‘copper mining’

ASX Company News: Ludowici Secures Its Largest Copper Screen Contract

Thursday, February 23rd, 2012

Ludowici (LDW) is pleased to announce it has been awarded its largest contract for vibrating screens in copper processing. The contract from an existing client in Peru is valued at approximately USD15m and is for a quantity of Ludowici’s high capacity vibrating screens and will be used in a copper crushing and grinding operation.

Company CEO and Managing Director Patrick Largier said “We are delighted to have been awarded this contract from one of our most important clients in one of our most important markets. Ludowici vibrating screens are leading edge products which perform extremely well in the world’s most demanding mineral processing environments. Our continued growth within the major global mining markets is very encouraging and gives us the opportunity to push on with our plans for further expansion of our footprint, allowing us to provide local service and support to our client base wherever they are located”.

In recent months Ludowici has successfully participated in major mining projects within Australia, Africa, North America, Latin America and China, clearly demonstrating the strength of the global brand. Ludowici Limited (LDW) is proud of its 150+ year record of innovation in engineering and design. Having been established in 1858, Ludowici’s activities today revolve around the global mining industry – designing, manufacturing and marketing mineral processing equipment. The Company’s products and services include vibrating screens, reflux classifiers, coal centrifuges, an extensive range of wear resistant products, and a variety of other products and services. Ludowici has a proven commitment to research and development to ensure its clients continue to benefit from the latest advancements in engineering design and technology. The Company’s diverse range of products and services is testimony to its reputation for innovation.

www.ludowici.com.au

http://www.traderdealer.com.au/fundamentals/ldw

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ASX Company News: Sandfire Resources Sells Copper Gold Direct Shipping Ore

Friday, December 16th, 2011

Sandfire Resources NL (SFR) is pleased to advise that it has entered into a contract for the product (DSO) to be produced from its 100%-owned DeGrussa Copper-Gold Project in Western Australia. The contract is for the purchase of a minimum of 70,000 dry metric tonnes (dmt) of DSO between April 2012 and March 2013, representing the remaining 50 per cent of DSO production. The DSO will be produced as part of an initial open pit mining operation which is well advanced and on track to extract first chalcocite DSO in March 2012. Yunnan Copper will purchase the DSO on a CIF (Cost, Insurance and Freight) basis with the remaining commercial terms of the contract being confidential. The first shipment under the contract is scheduled for the second Quarter of 2012.

“I would like to take this opportunity to thank everyone within the Sandfire team for the diligent and focused way they have gone about their business this year, ensuring that 2012 will be the most important sales agreement with Yunnan Copper Corporation Ltd for the remaining high-grade Direct Shipping Ore second-largest alumina producer and largest aluminium producer in China, holds a controlling stake in Yunnan Copper. Sandfire’s Managing Director, Mr Karl Simich, said he was pleased to have commenced a relationship with one of China’s leading copper producers for the sale of DSO which completes off-take arrangements for DSO production from the DeGrussa Project. “This builds on the strong relationships and strategic partnerships we already have in place globally and ensures that we have comprehensive off-take arrangements in place to cover the entire output of high- grade direct shipping ore that will be produced during 2012 and into early 2013,” Mr Simich said.

www.sandfire.com.au

http://www.traderdealer.com.au/fundamentals/sfr

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ASX Company News: Ishine Enters Joint Venture With Chinese Company

Tuesday, September 20th, 2011

Ishine International Resources Limited (ISH) is very pleased to announce the signing of a Heads of Agreement with The 8th Institute of Geology and Mineral Exploration in respect to copper exploration in the Mt Watson Project in north-west Queensland. IGME will spend up to $1.7M to earn up to a 51% interest in this project. Following IGME’s site visit, project due diligence and Chinese government approval, the Company and IGME has signed a farm-in agreement to allow IGME to earn an interest in this project with the key terms and conditions as follows.  IGME will pay Ishine $300,000 within 3 months of the effect date of the agreement IGME will spend not less than $300,000 within the first 12 months for exploration in the Mt Watson project (two tenements). IGME will earn a 30% interest in the project if the above two requirements are met in the first 12 months. IGME cannot pull out within the first 12 months. If IGME terminates the agreement after 12 months, its interest will be reduced to 20%. IGME will pay Ishine $250,000 within the first 3 months of the second year. IGME will spend not less than $300,000 within the second 12 months for exploration in the Mt Watson project (two tenements). IGME will earn a 51% interest in the project if its cash payment and exploration expenditure accumulate to $1.7 million. Once IGME earns a 51% interest from Ishine, further investment into this project will be made by both Ishine and IGME on a pro-rata basis.

The 8th Institute of Geology and Mineral Exploration, Shandong Province, is a PRC state-owned geological exploration unit. It provides services such as engineering surveying, hydrological engineering, mineral geology and drilling. The headquarters are located in Rizhao City, Shandong Province, and is equipped with a number of Grade “A” exploration qualifications. Ishine, being listed on the Australian Securities Exchange on the 18th December 2009, has continued its focus on expanding the Company’s exploration portfolio by acquiring quality tenements and continues to explore its current projects.

Managing Director of Ishine, Dr Caigen Wang said, “the involvement of IGME in Ishine’s Mt Watson copper project enhances our technical and financial resources required to fast track the exploration and mineral resource definition of this highly prospective copper project. More importantly, IGME’s participation has paved a way for securing the follow-up funds required for future project development.”

www.ishineresources.com

http://www.traderdealer.com.au/fundamentals/ish

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Exciting Investment Opportunity

Thursday, June 16th, 2011

Exciting Investment Opportunity: Niuminco Limited

Our parent company MDS Financial is inviting Trader Dealer blog readers to take part in an exciting investment opportunity.

Investors in Niuminco Ltd will have access to extensive gold and copper mining interests in Papua New Guinea, where proven gold deposits and a strengthening economic environment have underpinned a booming resources sector.

For more information and to download a prospectus visit www.mdsfinancial.com.au/niuminco

Applications close on July 13th, so get in quick to secure your investment!

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ASX Company News: Phoenix Copper Receives First Payment For Copper Product

Friday, October 8th, 2010

Phoenix Copper Limited (PNX) refers to its ASX announcement dated 31 August 2010 which stated that the Company had produced its first copper product – ahead of schedule – from the refurbished and redesigned Mountain of Light copper project near Leigh Creek in South Australia.   The Company is pleased to announce that it has today received its first payment for copper cement produced at the Mountain of Light copper operation. This first payment comes less than three months after completion of the Company’s purchase of all of the shares in the capital of Leigh Creek Copper Mine Pty Ltd (LCCM).

Phoenix Copper has worked diligently to re-commission the heap leach and copper cement process initially developed by LCCM, but then placed in care and maintenance. This first payment is an important milestone for Phoenix Copper as it begins to consolidate revenues and plans to maximize output from the first of its three copper mining leases.

Mining has recommenced and fresh ore from the Rossman east pit has been placed onto the heap leach pads. This fresh ore – higher in copper grade than had been previously stacked – will allow the ramp up of output and “steady state” production of copper cement product.

The recently announced placement to raise $2,500,000 combined with the Company’s existing cash balance and what will now become a regular revenue stream positions the Company well to fund exciting exploration on the Yorke Peninsula, South Australia and optimize production and development at Leigh Creek. Additionally, exploration at Burra is designed to identify sufficient mineralisation to justify another “Production Hub” at Burra to repeat the cash generation model that has been successfully commissioned at Leigh Creek.

www.phoenixcopper.com.au

http://www.traderdealer.com.au/Fundamentals/pnx

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ASX Company News: Hillgrove Resources Awards Forge Group $40 million Copper Project

Wednesday, September 22nd, 2010

Hillgrove Resources Limited (HGO) is pleased to advise that it has awarded the contract for the construction and commissioning of the Kanmantoo processing plant through its wholly owned subsidiary Hillgrove Copper Pty Limited to Abesque Engineering Limited, a wholly owned subsidiary of the Forge Group Limited (FGE).

The contract has an approximate value of $40 million, and is for engineering, design, construction and commissioning of the processing facilities for the Kanmantoo Copper Mines project which is located approximately 65km south east of Adelaide in South Australia, near the town of Callington.  The Construction and Commissioning Contract involves the re-erection of the Pillara Plant, with several modifications and enhancements to meet the specific site conditions and processing requirements at Kanmantoo. Hillgrove Copper and Abesque have been working closely together over the past two years to ensure the plant is ready for the construction phase. The contract works are scheduled for completion in September 2011.

Hillgrove is an Australian mining company listed on the Australian Securities Exchange (HGO) focused on developing its Indonesian and Australian base and precious metals projects. The Company is targeting the discovery of world class epithermal gold and porphyry copper/gold deposits in Eastern Indonesia. Hillgrove’s flagship development is the Kanmantoo Copper Mines, located less than 55km from Adelaide in South Australia.

www.hillgroveresources.com

http://www.traderdealer.com.au/Fundamentals/hgo

www.forgegroup.com.au

http://www.traderdealer.com.au/Fundamentals/fge

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Argo Exploration Enters Copper JV Agreement With XStrata

Wednesday, March 17th, 2010

Argo Exploration Ltd (AXT) announced today that it has entered into a binding agreement with Xstrata Mount Isa Mines Limited to form an exploration Farm-In and Joint Venture fast tracking exploration of its 100%-owned Intercept Hill tenement in South Australia. Landmark binding agreement secures the involvement of one of the world’s leading international mining companies to aggressively advance drill testing of high quality iron oxide copper-gold (IOCG) targets identified by Argo. Two stage agreement: Stage One grants Xstrata Copper the opportunity to earn a 51% interest in Intercept Hill EL4164 by expending A$4 million within 3.5 years; Stage Two allows Xstrata Copper to earn an additional 24% (to take its interest to 75%) by expending an additional A$12 million within a further 4 years.  Xstrata Copper plans to commence work on the project immediately and, under the terms of the agreement, is committed to drill at least one hole to test a basement target in the first year.

Argo’s Managing Director, Dr Hugh Herbert, said “The Company is delighted to have received Xstrata Copper’s endorsement of the quality and potential of the Intercept Hill project. The agreement recognises the project’s results to date, emphasises the ongoing potential for ore deposit discovery and ensures short-term drill testing of identified quality targets at a time when junior explorers are finding it difficult to continue funding high cost exploration of deep targets. Xstrata Copper is a world-class mining company with the resources and expertise to explore, develop and mine major deposits. Argo is seeking to develop world class iron oxide copper-gold deposits in the region. Xstrata Copper is the ideal partner for Argo on this project and we look forward to building a strong partnership. Through the terms of the agreement, Xstrata Copper immediately takes on project and funding responsibilities to ensure targets are tested in an appropriate manner”.

Argo Exploration Limited (AXT) is a junior exploration company searching for IOCG, gold, uranium and base metal deposits in prospective locations of the Gawler Craton, South Australia. Argo is a focused explorer searching for world-class ore deposits within two key project areas, namely Intercept Hill and Toondulya.

www.argoexploration.com.au

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Fox Resources To Start Radio Hill Mine in 2010

Wednesday, December 2nd, 2009

Fox Resources Limited (FXR) is pleased to announce it will commence the development of a base metals heap leaching operation at Radio Hill, located in the Pilbara of Western Australia.

The Company’s aim is to develop an initial five-year mine life with commissioning expected to occur in the September quarter of 2010.  In May 2009, Fox announced that metallurgical testwork was underway to explore the possibility of a new heap leaching operation. In September 2009, the total mineral resources at Radio Hill increased by 307% from 988,000 to 4.02Mt @ 0.51% nickel and 0.89% copper (as announced to the ASX on 23 September 2009).

The testwork was originally expected to take up to 12 months to complete, but based on the most recent successful column recoveries of nickel, copper and cobalt metal and production of high value end products (Figure 1) the Company has decided to proceed with plans to return to production.

This development represents a new approach to the Company’s assets, with cost savings of approximately $16 million expected in year one due to the absence of mining and crushing required for material stockpiled on surface. Surface material is estimated to contain 4,000 tonnes of nickel metal and 4,000 tonnes of copper metal.

Fox Resources’ Managing Director, Mr Bruno Seneque, said the heap leaching operation is very economical with minimal environmental impact.  “Today’s milestone represents an exciting new growth phase for Fox,” said Mr Seneque.

The Company’s existing infrastructure is expected to speed up construction of the back-end processing plant.

Snowden Mining Industry Consultants (Snowden) have been engaged to develop a mining plan for the Radio Hill orebody for the second year of production onwards.

There also exists the potential to utilise disseminated resources available from the Sholl complex (Sholl B2, B1, and Razerline), which has the potential to increase mine life beyond five years.  Disseminated ore from Fox’s Sholl deposit was previously heap leached by Titan Resources NL as part of a large field based, pilot scale operation with a 5,000 tonne heap and another 8,000 tonne heap. Irrigation of the initial 5,000 tonne heap commenced in May 2000 and by October 2000, nickel recovery into solution reached 74%, rising to approximately 90% following re-stacking of the heap.  Work has commenced at the Sholl resource with a view to increasing mine life further.

www.foxresources.com.au

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PacMag Metals Secures New Copper Project

Thursday, September 24th, 2009

The Directors of PacMag Metals Limited (PMH) are pleased to report that the Company has secured a new copper project located in southern Arizona, USA. The project comprising 50 unpatented lode mining claims is situated within the world class Laramide copper province host to some of the largest copper deposits in the world.

Chairman Mike Joyce commented “The Meadow Valley porphyry copper project represents a low cost, low risk opportunity to increase the Company’s exposure to the buoyant world copper market. Potential exists for the delineation of a major porphyry copper deposit at this underexplored property in a pro-mining jurisdiction. The opportunity has arisen because the historic drill records for the project are not publicly available and no significant exploration is thought to have occurred on the project since the mid-seventies. One of PacMag’s North American consultants worked on the discovery drill program in 1974 and has brought the opportunity to PacMag’s attention”.

The Meadow Valley project consists of a total of 50 unpatented lode mining claims, 6 claims optioned to PacMag and subject to a royalty agreement and 44 new wholly owned claims. The project located in southern Arizona lies within the Laramide porphyry copper province of southwestern North America which extends from Arizona into adjacent parts of New Mexico and Sonora (Mexico). The 300-km-long Arizona corridor, which extends from Phoenix to Nogales, lies wholly within the principal copper metallogenic province of the United States. Arizona accounts for about 65% of total U.S. copper production and value, and about 7% of global production.

The Company plans to undertake programs of geological mapping and ground based geophysical surveying to guide the sighting of an initial drill program. Geophysical surveying is anticipated to commence as soon as a suitable contractor is available.

www.pacmag.com.au

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Natasa Mining Takeover Offer for African Copper

Tuesday, May 19th, 2009

Further to the announcement today of Natasa Mining Ltd’s (NSN) acquisition of bonds with a face value of BWP149.6 million (US$21 million) in African Copper Plc’s primary subsidiary, Messina Copper (Botswana) (Pty) Ltd, Natasa announces that it has sent an offer to African Copper plc to recapitalise the company to enable it to settle all of its debts and to proceed to commercialise its Mowana mine as an alternative to the current proposal by Zambian Copper Investments Ltd (ZCI). 

Natasa is now offering to advance sufficient funds to enable  present creditors of the African Copper group to be settled in full. It has also offered to advance sufficient funds to African Copper to enable it to commercialise the Mowana mine, along with ensuring that existing shareholders of African Copper have a resulting equity position of 1% more than under the previously announced transaction with ZCI. Natasa believes that the proposals offer a better deal for stakeholders than the proposals provided by ZCI and invites African Copper to discuss its proposals and the implementation of them. 

www.natasamining.com

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