Global projects and exploration
Vital acquired the project in 2015 for its tungsten
prospectivity, which was mined in Zschorlau in
the western part of the permit area from quartz-
wolframite veins between 1917 and 1959.
Strizek said the company was keen to take
a closer look at the cobalt potential at Aue.
“The permit is right in the heart of Europe’s
technology and manufacturing centre. We are
seeing incredibly strong demand that shows
no sign of slowing and the government is
very supportive of the development of these
technology metals. After reviewing the data
we have on Aue, we are confident that using
modern exploration techniques, we can unlock
its potential as a cobalt play, and we are looking
forward to accelerating our efforts there,” says
Strizek.
Australia
Rio Tinto disposes of Hail Creek
Diversified mining company Rio Tinto has sold
its interests in the Hail Creek coal mine and the
Valeria coal development project in Queensland,
Australia, to Glencore for AUD1.7-billion.
The sale includes Rio Tinto’s 82.0% interest
in the Hail Creek operating mine and its 71.2%
interest in the Valeria project.
J-S Jacques, CEO of Rio Tinto, says that the
sale of Hail Creek and Valeria delivers compelling
value for the company’s shareholders and continues
its strategy of strengthening Rio Tinto’s portfolio,
focusing on highest returns, maintaining a strong
balance sheet, and allocating capital to the highest
value opportunities.
“We expect that Hail Creek will continue to
perform strongly under its new owner, securing
long-term jobs and continuing its contribution to
the State of Queensland,” says Jacques.
Italy
Cobalt high in demand
In the new cobalt rush, Alta Zinc, which holds
a number of zinc projects in northern Italy, has
applied for an exploration licence (EL) over a
historical cobalt production area in the Piedmont
region of Italy. Several old mining sites are present
in the Punta Corna mountain area, located in the
central part of the EL application area.
The peak of mining activity occurred during the
so-called Age of Cobalt (1753–1823). According to
archival records, the mines produced approximately
55t of cobalt, which was exported to Wurttemberg
in Germany as dye medium (cobalt blue). The EL
application covers 14.3km² and, once granted, will
be valid for two years.
Israel
Shefa bulk tests gems
Israeli company Shefa Yamim has received results
from the 10th, 11th, and 12th samples of the 14
bulk samples taken during an exploration campaign
to determine a resource estimate for gem and other
heavy minerals in Zone 1 of the Kishon Mid-
Reach project in Israel.
A total of 744.8 carats (ct) of heavy minerals
were recovered from 1485t of basal gravels with
an overall heavy mineral grade of 50.1ct per one
hundred tonnes (cpht).
The largest stones recovered were a 5.52ct
sapphire and a 4.86ct Carmel sapphire. The
variety of gemstones recovered is consistent
with previous bulk sample results, making Shefa
Yamim a multi-commodity company.
The company has now processed some 6 010t
from a total of 6 386t of bulk sample material
sampled by Shefa Yamim. The Carmel sapphire is
the dominant gem mineral in most of the Zone
1 bulk samples to date; the southernmost bulk
samples of BS-1226 and BS-1227 have returned
higher sapphire values than the Carmel sapphire.
In BS-1227, the recovery of 55.3ct of sapphire
was the highest for a single bulk sample to date,
while the individual sapphire recovered, weighing
5.52ct, was close to the largest ever discovered by
Shefa Yamim, which was 5.72ct.
The concentration of minerals in these samples
confirms the nugget effect in heavy mineral
concentration expected in this alluvial deposit.
The variation in overall grades is also in line with
what might be expected for a placer with semi-
mobile trap sites.
Chile
Wealth into lithium
Wealth Minerals, a company whose main focus
is the acquisition of lithium projects in South
America, has entered into an agreement with the
fully state-owned National Mining Company of
Chile (ENAMI). According to the agreement, the
parties will form a strategic alliance to develop and
commercialise the company’s projects in the Salar
de Atacama and Laguna Verde.
The agreement provides that the parties will
have 24 months during which to study and assess
the aforementioned properties and to form a
partnership for the exploration, development,
and mining thereof and for the marketing of the
products from the projects.
The agreement contemplates that the JV will
take the form of an incorporated joint venture
company in which ENAMI will own 10% and
have a 10% free-carried interest, while Wealth will
own the remaining 90% of the JV. The agreement
provides that the parties will have 24 months to
enter into a definitive agreement that will govern
the formation and operation of the JV.
“Not only are we now able to draw upon
ENAMI’s experience and knowledge for
successfully mining and processing resources in
Chile, we have gained a strong state partner that
can help fulfill our goals of full-scale development
to achieve production of lithium and by-pr oducts
in Chile. This will enable Wealth and ENAMI to
meet the world’s growing demand for lithium and
secure Chile’s position as a premier player in global
lithium markets,” says Hendrik van Alphen, CEO
at Wealth Minerals.
MAY 2018 MINING MIRROR
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