World Mining Exploration News

Zambia Jan-Sep Copper Output Up 10.7% On Year - Official

Zambian copper production in the first nine months of the year increased by 10.7% on year as copper mines recovered from operational disruptions suffered earlier in the year, a government official told Dow Jones Newswires Wednesday.
An official with the ministry of mines and mineral development said central bank data indicates that Zambian mines produced a total of 421,519 metric tons of copper between January and September, compared with 380,907 tons in the same period last year.
Copper mines were hit by a nationwide power failure in January, which hurt mining operations. The mines have since acquired more fuel-fired generators.
The central Bank is expected to release a detailed report on the sector later Wednesday, he said.
Zambia remains on course to double its output in the medium term despite the turmoil in the global copper market because most investments in the sector were undertaken before the current global financial crisis, said Razia Khan, head of research at Standard Chartered Bank. Read the rest of this entry »

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Research and Markets: Mining Industry - Global Strategic Business Report Includes Indexed, Easy-To-Refer, Fact-Finder Directory Listing

Research and Markets has announced the addition of the “Mining Industry - Global Strategic Business Report” report to their offering.
The global outlook series on the Mining Industry provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a bird’s eye view of the industry, and highlights the implications boded by the consolidation wave, and rising mineral prices. The discussion on the global market is laced with 61 statistically rich, market data tables evaluating demand and consumption patterns by country/region and end-use applications, across market verticals such as, Platinum Group Elements, Bauxite and Alumina, Fluorspar, Feldspar and Nepheline Syenite, Copper, Lead, Manganese, Nickel, Cobalt, Zinc, Tin, Zirconium, Gold, and Iron Ore, among others. The reader also stands to gain an introductory prelude to regional markets such as the US, Canada, Armenia, Russia, Spain, Australia, China, India, Indonesia, the Philippines, Africa, Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador and Peru. Read the rest of this entry »

Posted in Coal, Copper, Gold, Iron, Iron ore, Metal, Mining Industry, Mining Investment, Nickel, Silver, Trade & Market, Uranium | No Comments »

Nord Resources’ Johnson Camp mine production estimate raised in scoping study

Nord Resources Corp said a scoping study has found that the company can cost-effectively increase its production from the Johnson Camp copper mine in Arizona to an estimated rate of 40 million pounds of copper per year from the current plan of 25 million pounds.

The study by Bateman Litwin, an international firm of mining and processing consultants, estimates the 60 percent increase in the targeted annual production rate to 40 million pounds of can be achieved with an additional capital investment of less than US$20 million, Nord Resources said.

President and chief executive officer John Perry said: “We have been making excellent progress at the mine towards meeting our schedule to commence the production of new copper ore in the first quarter of 2009. We continue to expect to reach a rate of 25 million cathode pounds per year by next spring.
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Chinalco, China bank agree $2 bln Peru mine loan

China’s Chinalco (601600.SS: Quote, Profile, Research, Stock Buzz) and a Chinese bank will announce this week a $2 billion loan to develop the Toromocho copper project in Peru, a Peruvian government official said Tuesday.

Peru is the world’s second largest producer of copper and the Toromocho mine could lift the country’s annual output by as much as 25 percent.

“China’s bank of foreign financing and Chinalco are set to finalize a finance operation for the development of Toromocho,” Foreign Minister Jose Antonio Garcia Belaunde said on local radio.

The project is Chinalco’s first investment in Peru.
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Zambia: Mining Operations to Go On

IN the past few months, there has been uncertainty in the economy and there were fears that Zambia might lose the gains that have been achieved so far.

The Kwacha strength against convertible currencies declined, copper prices tumbled on the international market, inflation began to rise and it generally appeared as if investors were withholding their funds because of the global financial crunch.

It is therefore a good sign of confidence building that Lumwana which is one of the largest investors in Zambia has restated that they will continue with the development plans of the mines despite the decline in copper prices.
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Beacon Redevelopment Industrial Corporation Completes Purchase and Development Agreements of its Coal Mining Rights and Receives Valuation Estimates

Beacon Redevelopment Industrial Corporation (Pink Sheets: BCND) today announced that it’s wholly owned subsidiary Beacon Energy Corporation has finalized and completed the purchase of 100% of the coal rights for two parcels of land totaling 1020 acres in Westmoreland County, Pennsylvania. The coal forms part of the Upper and Thick Freeport Coal Seams in Western Pennsylvania.
Beacon Energy Corporation will contract with a qualified mining company that will utilize modern equipment and technologies, thus allowing Beacon Energy to secure the maximum amount of coal output using longwall methods of extraction. Beacon’s consultants estimate that these rights will provide the company access up to 2.5 million tons of coal production during the extraction period.
“This is another source of capital for our company, but the process will be lengthy and ultimately provide steady and significant revenues over a five year period,” said Beacon’s President, Adam Marek. “Pennsylvania coal has been sold at a rate of $40 to $150 per ton over the past year, The Company’s objective at this point is to achieve annual revenues in the area of $.0037 per share to $.005 after mining.” Read the rest of this entry »

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Learn about the World Mining Industry Market Brief

The global outlook series on the Mining Industry provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a bird’s eye view of the industry, and highlights the implications boded by the consolidation wave, and rising mineral prices. The discussion on the global market is laced with 61 statistically rich, market data tables evaluating demand and consumption patterns by country/region and end-use applications, across market verticals such as, Platinum Group Elements, Bauxite and Alumina, Fluorspar, Feldspar and Nepheline Syenite, Copper, Lead, Manganese, Nickel, Cobalt, Zinc, Tin, Zirconium, Gold, and Iron Ore, among others. The reader also stands to gain an introductory prelude to regional markets such as the US, Canada, Armenia, Russia, Spain, Australia, China, India, Indonesia, the Philippines, Africa, Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador and Peru. The report provides a recapitulation of recent mergers, acquisitions, and other noteworthy strategic corporate developments in addition to an included indexed, Read the rest of this entry »

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Asian Stocks Decline as Japan Slides Into Recession; BHP Falls

Asian stocks retreated, led by financial companies and commodity producers, as recession in Japan and Hong Kong and declining oil prices heightened concern a global economic slowdown is deepening.

Mitsubishi Estate Co., Japan’s largest developer by market value, sank 5.4 percent after the Nikkei newspaper said Tokyo office rents retreated for the first time in six years. Hong Kong Exchanges & Clearing Ltd., which runs the city’s equities market, slid 7.2 percent after Morgan Stanley cut its share price target. BHP Billiton Ltd. sank 4.9 percent in Sydney after China National Petroleum Corp., China’s largest crude producer, said oil demand contracted “sharply.”

“The concern is how deep and protracted this synchronized global recession is going to be,” said Daphne Roth, the Singapore-based head of equity research at ABN Amro Private Bank, which manages about $30 billion of Asian assets. Read the rest of this entry »

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Energy economics Small cities not dependent on Barnett Shale bounties

The booming Barnett Shale production during the past five years has been a boon to some of North Texas’ sparsely populated yet gas-rich cities, but city officials said they aren’t counting their chickens before they hatch.

Bridgeport and Decatur are prime examples of the impact an industry can have on economic and community development. The former, a city of about 5,000 residents, hit it big in the 1950s when oil and gas were discovered, but it wasn’t until Mitchell Energy & Development Corp.’s technological advancements in the late 1990s solidified the Barnett Shale as a leading play, and Wise County as a major beneficiary.

Oklahoma City-based Devon Energy Corp. purchased Mitchell Energy in 2001 for $3.5 billion, and is a major player in the Barnett Shale, Read the rest of this entry »

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KGHM sees 2009 copper production in line with 2008

KGHM KGHM.WA, Europe’s biggest copper miner, expects its output in 2009 to be in line with this year’s even though it expects a 2-1/2 month maintenance shutdown of its Glogow mine, its chief financial officer said on Monday.

In its full-year budget, KGHM sees its copper output at 512,000 tonnes in 2008, with a quarter of the goal still to be attained after three quarters.

“We have to take into account that we have a 2-1/2 month maintenance shutdown in our Glogow mine that will start in the second quarter,” Maciej Tybura told analysts in a results conference call.

“Nevertheless, we expect 2009 production to be at a level close to 2008.”
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