Mining News
Continental Coal (LON:COOL) Limited (COOL LN, 17.75p, ? 0.0%) announced that Ntshovelo Mining Resources Limited, the joint venture entity that operates the Vlakvarkfontein Coal Mine, has executed a Coal Supply Agreement with South Africa's state utility company, Eskom. The agreement is for the supply of 720,000 tpa of thermal coal of quality suitable for some of Eskom's power stations, over an initial 3 year period commencing 1 March 2012.
GGG Resources (LON:GGG) plc (GGG LN, 19.0p, ? 0.0%) announced that the first phase of exploration drilling for higher grade mineralisation along the regional Gibraltar trend has been completed with 14 holes drilled for a total of 2,805m. Gibraltar is located approximately 7km south-east of the Bullabulling Trend. Results have been returned for the first ten holes drilled beneath the pit at Gibraltar and best results include 13m at 2.87g/t Au, 7m at 3.12g/t Au, and 5m at 11.98g/t Au.
Horizonte Minerals (LON:HZM) plc (HZM LN, 14.6p, ? 1.7%) announced positive results from the preliminary metallurgical testwork, from both pyrometallurgical and hydrometallurgical testing for the Araguaia Nickel Project. Commercial grades of ferronickel were produced in laboratory smelting tests on two ore blends (35.3% nickel to 40.5% nickel) and high nickel recoveries were achieved (94.4% to 96.1%). The atmospheric tank leach ('ATL') tests achieved up to 89% nickel extraction and up to 93% cobalt extraction in 4 hours on ore blend samples. Acid consumption for the ATL laboratory tests ranged from 506 - 752 kg/tonne. ?Bottle roll leach ('BRL') tests achieved up to 89% nickel extraction and 92% cobalt extraction on ore blend samples. Acid consumption for the BRL laboratory tests on ore blend samples ranged from 651 - 729 kg/tonne.
Orosur Mining Inc (LON:OMI) (OMI LN, 53.3p, ? 0.5%) announced that the mining permits have been granted for exploitation of ore from the Arenal Deeps project. Production levels are ramping up and are expected to reach design capacity in the fourth quarter of fiscal 2012. Production for the quarter was 13,668 ounces of gold. A revised target range of 55,000 ounces to 57,500 ounces of production has been established for the 2012 financial year, a reduction of 4%. Target cash costs per ounce have increased to a range of US$930…
