Production Begins at Doris
TMAC Resources announced that commercial production was achieved on May 15 at its Doris mine and mill complex situated on the company’s Hope Bay property located in the Kitikmeot region of Nunavut, Canada.
Path Cleared for Pebble Project Permitting
Northern Dynasty Minerals and the U.S. Environmental Protection Agency (EPA) have reached a settlement agreement that will allow normal course permitting to proceed for the controversial Pebble copper-gold-molybdenum-silver project in southwest Alaska. The operating company for the project, Pebble Ltd. Partnership (PLP), is a wholly-owned subsidiary of Northern Dynasty. The current agreement settled a legal dispute that had been ongoing since 2014, when EPA action effectively blocked further work on the permitting process.
Arizona Mining Raises Funds for Taylor Deposit Development
Arizona Mining Inc. has signed a binding private placement agreement with South32 Ltd. for 45 million Arizona Mining common shares at a price of C$2.45/share for gross proceeds of C$110.3 million. The proceeds will be used to add drill rigs to fully test high-priority targets at Arizona Mining’s Taylor zinc-lead-silver deposit in southern Arizona, as well as to advance the deposit to the feasibility and permitting stage.
Teck Sells Waneta Dam Interest
Teck Resources and Fortis Inc. have announced an agreement under which Fortis will purchase Teck’s two-third interest in the Waneta Dam and related transmission assets in British Columbia for C$1.2 billion cash. The Waneta Dam is located on the Pend d’Oreille river near Trail, British Columbia, and supplies power to Teck’s Trail Operations, one of the world’s largest fully integrated zinc and lead smelting and refining complexes, which also produces a variety of precious and specialty metals, chemicals and fertilizer products.
Cliffs Produces Mustang Pellets at United Taconite
Cliffs Natural Resources announced that production of the new Mustang superflux pellet has started at its United Taconite mine. The startup of the new production equipment, including supporting infrastructure, was executed on schedule, after nine months of construction, and within the original total investment budget of $75 million.