• GLOBAL NEWS
Global news
AUSTRALIA : TORRENS DEBUT WITH STELLAR RUN
Gold and copper-focused Torrens Mining has entered 2021 as the first exploration stock to list on the Australian Securities Exchange ( ASX ) for the year , having done so after successfully closing a USD10-million Initial Public Offering before Christmas .
RUSSIA : METSO TO PROCESS AT TALNAKH
Metso Outotec has signed an agreement to deliver its industry-leading comminution equipment for Nornickel ’ s refurbishment project at the Talnakh processing plant in Norilsk , Russia .
According to Metso Outotec the contract includes delivery of one semi-autogenous grinding ( SAG ) mill and two ball mills with a total installed power of 36MW as well as two HP series pebble crushers . Metso Outotec will also supply spare parts and consumables , including metallic mill liners , and will supervise the installation of the equipment . The delivery is scheduled for 2022 .
" The modernisation of the Talnakh processing plant is one of the priority projects for Norilsk Nickel . Its implementation will significantly increase the volume and efficiency of production . To achieve this , we utilise the most modern technologies from Metso Outotec ," says Sergey Dubovitsky , senior vice president , strategy , strategic projects , logistics & procurement at Norilsk Nickel .
“ We are pleased to continue our partnership with Norilsk Nickel . The supply of leading-edge equipment from Metso Outotec for the reconstruction of the comminution section at the Talnakh concentrator will enable an increase in the amount of ore processed . Our company has taken part in several projects with Norilsk Nickel to boost throughput rates of the processing facilities , and we are grateful for having been again selected to provide reliable solutions for a project as significant as Talnakh ,” says Stephan Kirsch , president , minerals business area , Metso Outotec .
The board lit up green for Torrens on its debut , with shares closing at 29.5 ¢; well above the company ’ s IPO price of 20 ¢. According to Torrens chairman Bill Bloking , the strong investor interest in the company ’ s IPO and its associated exploration portfolio represents a strong endorsement of Torrens ’ assets and management team and the strength of their core strategy – which is to discover and develop gold and copper deposits in Australia and PNG .
Near-term plans for Torrens are said to include aggressive exploration work at its Mt Piper and Club Terrace gold projects in Central and Eastern Victoria respectively , with the company having allocated about USD5.35-million to those activities over two years .
With gold prices rallying above USD1951.60 per ounce recently on the back of US political tension and Covid-19 market uncertainties , analysts are predicting that the precious metal could be primed for another record year in 2021 .
Torrens ’ wholly-owned Mt Piper gold project is located in Central Victoria , a stones-throw from the world ’ s most profitable underground gold mine , Kirkland Lake ’ s Fosterville operation .
The Mt Piper anomaly is associated with historical drilling by mining giant BHP , while previous geochemical exploration at the project has revealed several anomalous gold-antimoy zones . Torrens plans to follow up with further geochemical and geophysical work to refine targets for drilling in 2021 .
The 100 % -owned Club Terrace gold project is located in the historic fault-controlled South Lachlan gold region in Victoria . The fault-controlled orogenic system contains gold-leadcopper-zinc geochemical targets , and there are a number of historical gold mines in the area .
The company also owns 49 % of the Elizabeth Creek coppercobalt project in the Olympic Dam region of South Australia that is managed by Coda Minerals , which itself listed on the ASX just this past October , and the Laloki copper-gold project in Papua New Guinea .
According to Torrens ’ managing director Steve Shedden , the company ’ s successful ASX debut was a landmark milestone for the business . “ It comes on the back of a lot of hard work and dedication by all stakeholders involved ,” he said .
8 • African
Mining • February 2021 www . africanmining . co . za