Regional News - Asia December 2017

CNMC’s Carbon-in-Leach Plant Starts Trial Operation

CNMC Goldmine Holdings Ltd. confirmed that its newly constructed carbon-in-leach (CIL) plant is in the process of conducting trial operation, marking a major milestone in its efforts to ramp up gold output after poor ore grades dented the company’s gold production for the last year.

The CIL facility, which kick-started initial trial production on November 6, will enable CNMC to extract and process at least 500 metric tons per day (mt/d) of higher-grade ore at its flagship Sokor gold field in Kelantan. Construction of the plant began in May and was completed within the budget of RM25 million ($3.8 million).

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Rio Tinto, Sinosteel Extend Channar JV

Rio Tinto and China’s Sinosteel Corp. have agreed to extend their historic Channar Mining joint venture. This third extension of the joint venture, confirmed in Beijing by Rio Tinto Chief Executive J-S Jacques and Sinosteel Chairman Xu Siwei, will see an additional 10 million metric tons (mt) of iron ore delivered into the joint venture from Western Australia.

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Iran Seeks Mining Investment

In the past two months, Iran has had agreements with South Korea, Austria and Denmark, and is on the way to signing similar accords with other countries, according to the Financial Tribune. The country is seeking $50 billion in investment for its mining industries up to 2022 and has signed agreements with several European and Asian banks in the past few months.

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Regional News - Asia November 2017

Eldorado Lowers Guidance on Kişladağ

Citing lower recoveries, Eldorado Gold has revised its 2017 guidance for the Kişladağ gold mine in Turkey to 170,000 ounces (oz) to 180,000 oz at cash costs of $500/oz to $550/oz. At the beginning of the year, the company was expecting Kişladağ to produce 230,000 oz to 240,000 oz. Guidance for 2018 and beyond, according to the company, is currently under review.

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Regional News - Asia October 2017

Polyus Starts Commissioning Natalka Mine in Russia’s Far East

PISC Polyus, Russia’s largest gold producer, has launched the start of hot commissioning of its Natalka mine in the Magadan region of Russia’s Far East. Russian President Vladimir Putin participated in a launching ceremony in early September via video-link from the Eastern Economic Forum then in progress in Vladivostok. Following completion of ramp-up in late 2018, Natalka is scheduled to produce in the range of 420,000 ounces per year (oz/y) to 470,000 oz/y of gold over a mine life of more than 30 years.

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Freeport, Indonesia Agree on Plan for Long-term Operating Rights

Freeport-McMoRan (FCX) and the government of Indonesia have reached an understanding on a framework to support PT Freeport Indonesia’s (PT-FI) long-term investment plans in Papua. PT-FI will convert its Contract of Work to a special license (IUPK), which will provide the company with long-term operating rights through 2041. PT-FI will commit to construct a new smelter in Indonesia within five years. In return, the government of Indonesia will provide certainty of fiscal and legal terms during the term of the IUPK.

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Regional News - Asia September 2017

Thai Government Lifts Suspension of Chatree Mine

Recently, representatives of Kingsgate Consolidated Ltd. met with representatives of the Royal Thai Government to discuss a possible settlement of the company’s claims against the Kingdom of Thailand under the Australia-Thailand Free Trade Agreement (TAFTA).

Shortly before the meeting, the company was informed that the Thai government had lifted the “temporary suspension” of the Chatree mine, which is operated by the company’s subsidiary, Akara Resources Public Co. Ltd. Further, Kingsgate was advised that Akara’s application for renewal of its metallurgical processing license, which expired on December 31, 2016, could now be processed.

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Major Equipment Arrives at Amulsar

This week, Lydian International said major equipment components have arrived at its Amulsar gold project in Armenia. Major pieces of equipment for the crushing plant, including the jaw crusher, a secondary cone crusher, rock breaker, pan feeders, and screen liners have all arrived at the site. The material handling system includes crushing and screening equipment and the overland conveyor, all supplied by Sandvik. Components have been shipping since the second quarter of 2017 as fabrication is completed. Modular steel structures for the overland conveyer and other structural steel components are arriving on site and this will continue throughout the third quarter.

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