GLOBAL NEWS
AUSTRALIA:
RALEIGH PUT ON CARE-AND-
MAINTENANCE
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AUSTRALIA:
URANIUM INTEREST ON THE RISE
The global uranium market has been relatively uncertain
in recent years. A report released by the World Nuclear
Association (WNA) said that an oversaturated market led to a
general decline in production, reducing globally from 62 200
tonnes (t) in 2016 to 53 500t in 2018. Prices have also been
seen to drop from a January 2019 average of USD28.90 a
pound to USD25.30 a pound in August 2019.
However, according to Global Data’s mining technology
writer Scarlett Evans, the same report found a change
in global policies is marking a favourable return for the
material, a shift many hope will be echoed in Australia. “With
a history of regulations blocking the use of nuclear power,
the Minerals Council Australia (MCA) has this year revitalised
the debate over utilising this resource, and mining company
Boss Resources has recently unveiled plans to revive their
South Australian Honeymoon project. While the benefits of
harnessing nuclear remains contested, there is a sense that
change is beginning to be seen.”
According to Ian Hore-Lacy, senior advisor at the World
Nuclear Association, the current state of nuclear power in
Australia is zero. “There is none and there are no immediate
prospects of any. However, quite apart from that, there is
widespread support for uranium mining and export, and that
has been ongoing really since the Fox enquiry in the 1970s,”
says Hore-Lacy.
“It would seem such calls are beginning to be heard, with a
number of legal developments in the country over the past
decade. Commonwealth support for uranium mining, the
lifting of bans on uranium mining in Western Australia and
Queensland, and the New South Wales Government’s repeal
of the ban on uranium exploration have sparked optimism
amongst industry members. Public support for nuclear energy
has also been found to be on the rise, with recent surveys
showing a majority of Australians support a role for nuclear in
the nation’s energy mix,” says Evans.
12
African Mining March 2020
The East Kundana Joint Venture (EKJV), in which ASX-listed Rand
Mining holds a 12.25% interest, has recommended that the
Raleigh underground gold mine in Kalgoorie, Australia, be placed
on care-and-maintenance in April 2020 as a result of a significant
seismic response following the firing of stoping panels in the
southern mining area of Raleigh during January 2020.
The seismic response occurred around the 6 000 to 5 949 levels
of the mine, with each of these levels sustaining substantial
damage, with significant rehabilitation required to re-establish
access. The southern mining area has been deemed unsafe and
is now excluded from all underground activity.
No personnel were underground at the time of the firing.
EKJVM has proposed a revised mining plan that would see
underground mining suspended at Raleigh in April 2020. The life
of mine plan previously presented to the company in October
2019 saw Raleigh production continuing to 2026 to exploit the
ore reserves reported by Northern Star in August 2019.
It is currently anticipated that Raleigh will be placed on care-and-
maintenance from April 2020 to allow time for EKJVM to conduct
a detailed assessment of the potential to recommence mining.
Underground mining at the other deposits within the EKJV
remains unaffected and is continuing as planned.
PERU:
FIRST RESULTS AT GABAN
Australian exploration company Winshear Gold has reported its
first sampling results from the Gaban gold project located in the
Puno Orogenic Gold Belt in south-eastern Peru.
Winshear is conducting exploration to locate the hard-rock
source of alluvial gold in the Yanamayo and Piquitiri rivers,
which drain into the Madre de Dios basin. In 2018, a heli-borne
geophysical survey was flown over Gaban as part of a systematic
exploration programme that outlined regional structures with
the potential to host gold mineralisation. To date five shear
zones have been identified on the property.
Winshear acquired the property in September 2019, and
completed its first field campaign in October 2019, with the
goal of identifying the most prospective sections of these newly
identified structures. According to the company, a second
campaign was conducted in November and December last year
and will be reported as results are received.
BRAZIL:
EXPLORATION UNDERWAY AT
TUCANO
NYSE- and TSX-listed Great Panther has made significant
progress with its exploration programme at the Tucano gold
mine in Brazil last year. Great panther acquired the mine in
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