Mongolia Takes Another Step Toward Ovoot Mine Railway Concession

Aspire Mining’s Mongolian rail subsidiary, Northern Railways, has received a formal letter from the Mongolian government confirming that a multidepartmental working group has been established to negotiate a rail concession for the Erdenet to Ovoot Railway. The letter was received from the Mongolian Investment Agency, which is the body charged with negotiating concession agreements, and is in accordance with a cabinet resolution.

 

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Indian Iron Ore Import Dependency to Increase

With iron ore exports in the western Indian coastal province of Goa unlikely to resume before the onset of the monsoon rains and several Indian steel mills firming up iron ore imports, the country’s net import dependency on iron ore was expected to increase during the current fiscal period.

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Alacer Proceeding with Çöpler Sulphide Project

Alacer Gold will move ahead of development for a sulphide ore processing project at the Çöpler mine in eastern Turkey.Alacer Gold’s board of directors has approved development of the Çöpler sulphide project at its 80%-owned Çöpler gold mine in Erzincan province, eastern Turkey. The Çöpler mine has been processing oxide ore via an open-pit, heap leach process since late 2010. A definitive feasibility study of sulphide ore processing via whole-ore pressure oxidation was completed in June 2014. The sulphide project is forecast to extend Çöpler mine life by 22 years, producing a total of 3.9 million oz of gold at all-in sustaining costs averaging $637/oz.

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Rusal Opens Russia’s Deepest Mine

Russian aluminum producer UC Rusal has announced the start-up of the Cheremoukhovskaya-Gloubokaya mine at its North Urals bauxite mine complex in Severouralsk, Russia. At a depth of 1,550 m, the mine becomes Russia’s deepest and accesses bauxite deposits estimated at 42 million mt.

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