Global projects and exploration
Brazil Dual-listing duels
Dual listings are only ever a means to an end , delegates attending the final session at Paydirt ’ s Latin America Down Under Conference in Perth , Australia , were told by panelists . Although companies pursue dual listings for differing purposes , usually related to funding , it is a much simpler road to pick a home market and stick to it .
According to executive director Paul Stephen , the starting point for Crusader Resources pursuing a dual listing on AIM in London was that the Australian market had run out of steam for the company , and it was experiencing investor fatigue with its gold projects located in Brazil . “ The dual listing is a pathway to a single listing ,” said Stephen .
Azure Minerals ’ managing director Tony Rovira said it was definitely easier to raise money now for Latin American exploration and mining projects than it was a decade ago . Azure has a number of exploration projects in Mexico .
“ A lot of our funding comes out of North America , so there ’ s a natural fit for us for raising money in Canada and the US , and working in Mexico ,” said Rovira .
Kazakhstan Digitalisation at the heart of change
Technology group ABB ’ s process and power solution at KAZ Minerals ’ copper plant in Aktogay , Kazakhstan , will double the capacity of the mine ’ s sulphide ore processing plant . KAZ Minerals is the largest copper producer in Kazakhstan .
The processing facilities in Aktogay produce copper in concentrate from a nearby opencast mine , to meet the growing global demand for copper for infrastructure , e-mobility , and consumer industries , including electronics . ABB ’ s delivery is part of a USD1.2-billion expansion that will double the current annual sulphide ore processing capability at this site from 25 million to 50 million tons . In addition to sulphide ore , the company also processes about 12 million tons per annum of oxide ore .
ABB ’ s solution includes all process control and electrification equipment as well as infrastructure for the plant . With digitalisation at its heart , the ABB Ability™ MineOptimize is a framework that encompasses engineering , systems , applications , and services to help mining customers achieve the most efficient design , build , and operation of any opencast , underground , mineral processing or refining facility .
Panama Infrastructure investment pays off
Canada-based First Quantum Minerals ’ decision to continue investing in large-scale infrastructure to support the development of the Cobre Panama copper project , is now paying dividends for the company as it embarks on a staged mining development in Panama .
Cobre Panama is about 20km , by sealed road , from the port and power facility and the associated infrastructure currently being developed on the Caribbean coast . The infrastructure includes two 150MW power generation units ; two marine terminals ; a deep-sea port that will accept the Panamax vessels for copper concentrate export and coal import ; and bulk commodity storage facilities .
First Quantum decided to develop the infrastructure in 2016 , despite a conscious move to slow the mining project down as a result of prevailing market conditions .
According to Gavin Ashley , project manager at First Quantum , Cobre Panama has a 40-year mine life at a relatively low grade of 0.37 % copper , but with a very low strip ratio .
“ We are targeting production of 350 000 tonnes per annum ( tpa ) of copper and the project is 72 % complete ,” says Ashley . “ The focus right now is on construction and we are hoping that the mine will be operational towards the end of the year .”
The investment by First Quantum will be the largest private investment in the history of Panama since the canal expansion , which was a public investment .
Ecuador Exploring untapped potential
Gold and copper exploration company SolGold ’ s country manager , Jason Ward , highlighted the potential of the company ’ s assets in Ecuador on the second day of this year ’ s Paydirt Latin America Down Under Conference in Perth , Australia , recently . SolGold ’ s flagship asset in Ecuador is the Cascabel Project , which hosts the same untapped potential of similar projects in Chile half a century ago .
“ I feel like I ’ ve gone back in time 50 years and I ’ m exploring in northern Chile , because the geology is the same ,” Ward told delegates . “ With 84 geologists on the ground and over 3 000km ² to explore , we are confident that there will be more discoveries in the area ,” said Ward .
SolGold has been operating in Ecuador since 2012 and has spent about USD100-million on exploration during that time , which has since delivered a substantial maiden mineral resource estimate . The company is well funded with about USD80-million cash in the bank , while its share register includes the likes of gold major Newcrest Mining ( 14.5 %) and BlackRock ( 6 %).
“ Ecuador has come a long way in a very short period of time in improving their mining regime ,” said Ward . “ They have invested their revenue from oil very wisely into infrastructure and education , and as a result we see tremendous infrastructure right across the country . “ They ’ ve got first-class roads , hydroelectric power systems , ports and airports , and they operate on 90 % clean energy . All of these things are going to save us and the other
[ 8 ] MINING MIRROR JULY 2018