Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr
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PROJECT SURVEY 2013 $181 million; while in Canada, for example, the average project cost is $775 million. Chinese mining investment activity outside China remains mostly marginal. China's scramble for resources in Australia, Africa and elsewhere involves minimal investment values despite rapid growth in recent years—but it is growth from an almost 'zero' starting posi- tion. It will take years before Chinese companies become powerful global players in the mining industry, but it will eventually happen. About This Survey Eligibility for a full listing requires each project to have an announced investment cost estimate, reserve/resource data and an estimated annual production figure. Comparability of information from different companies, countries and regions varies, as specific project information or definition may be unclear for various reasons, or the project may also involve large unreported infrastructure costs. Raw Materials Group attempts to resolve these factors, but cannot rectify all discrepancies arising from definitions and comparability. Information contained in the survey is global in scope. However, it should be noted that completely accurate coverage of some regions is difficult to attain due to lack of information or corporate reporting standards and requirements. In total, mine projects are included from more than 70 countries and the survey's aggregate figures are considered to reflect overall investment trends in the mining industry reasonably accurately. For more information, visit www.rmg.se or call +46-8-7440065. E&MJ;'s annual review of metal mining projects is compiled from Raw Materials Group's Raw Materials Projects database (see demo at www.rmg.se). The full database is available from RMG on an annual subscription basis and includes more than 4,400 projects as of December 2012, ranging from those in the prefeasibility stage to those currently under construction. Of the total number of projects listed in the database, more than 1,300 include detailed descriptions of resources/reserves, grades, planned investment cost, and completion date. This survey includes all countries with known projects. In the process chain from ore to metal, its main focus is on the mining stage. Pure smelter projects are not listed. In some cases, however, where the process is fully integrated from mining to refining, such as acid pressure leach hydrometallurgical nickel projects, all stages are included. Magnus Ericsson is CEO and a director of Raw Materials Group and a profesor at Sweden's Luleå University of Technology. Viktoriya Larsson is a research analyst at RMG. Major Mining Investment Projects Worldwide, Year End 2012 Project Name Gold Pascua-Lama Cerro Casale Donlin Creek KSM Galore Creek Dome Mountain Caspiche Metates Tasiast Olimpiada Davidson-Blackwater Livengood Courageous Lake Eleonore Rosia Montana Konevinskoye Natalka Detour Lake South Deep Bakyrchik Bystrinskoye Bloemhoek Hycroft Crofoot/Lewis Golden Meadows Prosperity Fish Lake Meliadine Spanish Mountain Cerro Negro Panimba Brisas Jiama Tropicana Fruta del Norte Lobo/Marte Akyem Lihir Rainy River Morelos Angostura Kiaka Copper Andina Cobre Panam‡ Quebrada Blanca Tampakan Udokan Golpu Oyu Tolgoi Pebble Las Bambas Cerro Verde El Morro www.e-mj.com Location Status Type Products Chile Chile USA Canada Canada Canada Chile Mexico Mauritania Russia Canada USA Canada Canada Romania Russia Russia Canada South Africa Kazakhstan Russia South Africa USA USA Canada Canada Canada Argentina Russia Venezuela China Australia Ecuador Chile Ghana Papua New Guinea Canada Mexico Colombia Burkina Faso Chile Panama Chile Philippines Russia Papua New Guinea Mongolia USA Peru Peru Chile Controlled by Project Cost (US$ M) Construction Prefeasibility Feasibility Feasibility Prefeasibility (Susp.) restart/feasibility Prefeasibility Prefeasibility Operating, exp/constr Operating, expansion/plans Conceptual Conceptual Prefeasibility Construction Feasibility Operating, expansion/plans (Susp.) restart/construction Construction Operating, expansion/plans (Susp.) restart/feasibility Feasibility Feasibility Operating, expansion/feasibility Closed, reopen/plans Feasibility Prefeasibility Prefeasibility Feasibility Conceptual Feasibility Operating, exp/feasib Construction Prefeasibility Prefeasibility Feasibility Operating, expansion/plans Conceptual Feasibility Prefeasibility Prefeasibility OP OP OP OP OP UG OP UG OP OP OP OP OP UG OP OP OP OP OP, UG OP, UG OP UG OP OP OP OP, UG OP UG OP OP OP, UG OP OP OP OP OP OP, UG OP OP, UG OP Au, Ag Au, Ag Au Au, Cu Au, Ag Au Au, Ag Au, Ag Au Au Au, Ag Au, Ag Au Au Au, Ag Au Au Au Au Au Au, Cu Au Au, Ag Au Au, Cu Au Au, Ag Au Au Au, Cu Au, Cu Au Au, Ag Au Au Au Au, Ag Au Au, Ag Au Barrick Barrick, Kinross Gold Barrick, NovaGold Seabridge NovaGold, Teck Metal Mountain Exeter Resource Chesapeake Kinross Gold PolyusGold Inter New Gold Inc Intl Tower Hill Seabridge Goldcorp Gabriel Resources Vertex, Rusfinansgrup PolyusGold Inter Detour Gold Gold Fields Rio Tinto Norilsk Nickel Wits Gold Allied Nevada Vista Gold Taseko Agnico-Eagle Spanish Mountain Goldcorp PolyusGold Inter Gold Reserve CNGC Anglogold, Independence Kinross Gold Kinross Gold Newmont Mining Newcrest Rainy River Resources Torex Gold Eco Oro Volta 8,000 6,000 5,845 5,312 5,208 4,187 2,800 2,701 2,700 2,500 1,800 1,614 1,520 1,414 1,400 1,400 1,200 1,157 1,156 1,124 1,100 1,000 0,985 0,879 0,807 0,793 0,756 0,750 0,739 0,731 0,705 0,702 0,700 0,700 0,700 0,696 0,680 0,675 0,649 0,610 Operating, exp/constr Feasibility Operating, exp/constr Feasibility Prefeasibility Prefeasibility Construction Feasibility Feasibility Operating, expansion/plans Feasibility OP, UG OP OP OP OP OP OP OP, UG OP OP OP Cu, Mo Cu, Au Cu Cu, Au Cu, Ag Cu, Au Cu, Au Cu, Au Cu Cu Cu, Au Codelco Inmet Teck Xstrata, Indophil Resources Metalloinvest Harmony, Newcrest Rio Tinto, State of Mongolia Anglo American, North Dynasty Xstrata FCX, SMM, Buenaventura Goldcorp, New Gold 6,400 6,181 5,600 5,200 5,000 4,845 4,600 4,500 4,200 4,000 3,900 JANUARY 2013 • E&MJ; 31