Regional News - Europe May 2017

Boliden: Mine Production Attains Record Level

Boliden’s first quarter report was characterized by strong levels of mined production and stable production at the copper smelters. “The metal prices trend was favorable throughout the quarter, as is reflected in the fact that both [mining and smelting] posted strong operating profits,” said says Lennart Evrell, president and CEO of Boliden. “This was particularly true for mines, which achieved a new record level for a single quarter. Production levels continued to be good, and Kevitsa, which was acquired last year, is developing well. Furthermore, production at the copper smelters was stable.”

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Rusal Increases Alumina Production

UC Rusal recently a commissioned a new R1.1 billion digestion train at the Urals Aluminum Smelter (UAZ). The new digestion train, which consists of 82 units, will expand the refinery’s alumina production by 130,000 metric tons per year (mt/y). Total annual output of UAZ will grow to 900,000 mt of alumina.

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Eldorado: Olympias Phase II Commissioning on Track

Eldorado Gold Corp. reported that it has received multiple tenders for significantly better concentrate sales terms at Olympias Phase II, where wet commissioning at the project is currently underway. Under the new sales terms, gold payability rates have increased from 58% up to a maximum of 71%, which is expected to result in an increase of approximately 15,000 oz of payable gold production per year. Phase II production is now estimated to be approximately 85,000 oz/yr of gold (from 72,000 oz/yr previously) plus approximately 55,000 oz of gold equivalent production.

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EUROPE - JANUARY 2017

Berkeley Nears Construction Start at Salamanca U3O8 Project • Dalradian Eyes Curraghinalt Mine Development in Northern Ireland

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Sirius Gets Key Approval for York Potash Project

Sirius Minerals has received approval from the North York Moors National Park Authority for the underground mine and mineral transport system that are the key components of its proposed York potash project in North York, England. Sirius expects final details of the project approval process to be completed by the end of September. The company is currently working with its financial advisers to arrange financing for the project.

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