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Kaloti Building New Gold and Precious Metals Refinery in Dubai
Kaloti Jewellery Group, one of the world’s largest gold and precious metals refiners and trading houses, has begun construction of one of world’s largest gold and precious metal refineries in the Jumeirah Lakes Towers Free Zone, Dubai. The refinery is expected to be completed in late 2014.
Landslide Buries Workers’ Camp in Tibet
Early in the morning of March 29, 2013, a major landslide engulfed a worker’s camp of China Gold International’s Jiama copper-gold mine 68 km northeast of Lhasa, Tibet. A total of 83 workers were buried under the rubble, and 66 bodies were recovered within a week of the disaster. No survivors were found. The mineworkers buried in the landslide were employed by four external independent contractors engaged by Tibet Huatailong Mining Development Ltd., a wholly-owned subsidiary of China Gold International.
Indonesia May Ease Smelter Requirements for Major Producers
In another twist to the controversy surrounding Indonesia’s ban on raw mineral exports, officials are allowing major miners extensions to build their own smelters—or sign pacts with smelters already under construction—before the 2014 regulation takes effect.
Frontier Mining to Expand Benkala SX-EW Plant
Officials at Frontier Mining Ltd., a private copper producer in Kazakhstan, announced further $17.9 million in financing from Sberbank Kazakhstan, allowing for expansion at its Benkala solvent extraction/electro-winning (SX-EW) plant. A further $6 million in capital expenditures will bring capacity to 10,000 metric tons per year.
Emirates Aluminum Awards $500M in Contracts to GE
Emirates Aluminium (EMAL) has awarded contracts totaling approximately $500 million to GE to provide equipment and long-term services, directly and via engineering procurement contractors, for the EMAL aluminum smelter in Abu Dhabi. The project is expected to result in lower emissions and to enable EMAL to produce aluminum with better fuel efficiency.
Ma’aden in $7B Phosphate JV with Mosaic and SABIC
The Saudi Arabian Mining Co. (Ma’aden) has signed a heads of agreement to develop jointly a fully integrated, world-class phosphate production facility in Saudi Arabia with The Mosaic Co. and Saudi Basic Industries Corp. (SABIC). The cost of the project is estimated at SR26 billion ($7 billion). Ma’aden, Mosaic and SABIC will own 60%, 25% and 15% of the joint venture, respectively.
Sumitomo Building Scandium Recovery Plant at Coral Bay
Sumitomo Metal Mining is building a scandium recovery pilot plant at Coral Bay Nickel Corp., its majority-owned subsidiary located on Palawan Island in the Philippines. Small quantities of the rare earth element scandium are contained in the ore processed at Coral Bay to produce a nickel-cobalt mixed sulphide product, using Sumitomo’s high-pressure acid leach (HPAL) technology. The nickel-cobalt mixed sulphide product is an intermediate product in the nickel refining process.
NSL Confirms New JV to Expand Iron Operations
NSL Consolidated has signed a US$12.2 million joint venture with a prominent Andhra Pradesh-based company in a bid to expand its iron ore operations in the Indian state.
Oyu Tolgoi Phase-one Construction Nearing Completion
Turquoise Hill Resources, formerly Ivanhoe Mines, reported in mid-August 2012 that overall construction of the first phase of development of the Oyu Tolgoi copper-gold-silver project in the South Gobi region of Mongolia reached 90% completion at the end of the second quarter of 2012 and had advanced to 94% completion by the end of July.
Positive Prefeasibility Study for Aği Daği and Kirazli
Alamos Gold has reported a positive prefeasibility study for its 100%-owned Aği Daği and Kirazli gold projects on the Biga Peninsula in northwest Turkey. The projects are located about 19 km apart and would be developed as separate open-pit, heap leach operations; however, the prefeasibility study treats them as a single development project. The study assumes that a contract miner will be hired.
OceanaGold Signs Didipio Concentrate Offtake Agreement
OceanaGold reported in mid-July 2012 the signing of a Heads of Agreement with Trafigura in relation to the sale and purchase of copper-gold concentrate from Oceana’s Didipio project, located about 270 km north of Manila on Luzon island in the Philippines. Trafigura is a commodity trader that specializes in the supply and transport of concentrates and owns and operates concentrate storage facilities in China and worldwide that support its trading activity.
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