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 2014 doubt that the country would be high among the top 10 countries—although Chinese projects are mostly small, with an average project cost of just $193 million. By comparison, the average cost of a mining project in Canada is $840 million. Chinese investments, whether in exploration or into new mine projects outside China, are still marginal. It will take years before About This Survey E&MJ;'s annual review of metal mining projects is based on the Raw Materials Database, which is researched and published by Stockholm-based Raw Materials Group (RMG), part of the IntierraRMG group (www.intierrarmg.com). The database includes more than 4,700 projects, ranging from those in early stages to those currently under construction. Most of these projects are described in detail, including stage of project, location, resource/reserve figures, metals to be mined and owner of the project. Approximately 1,300 current projects include a more detailed description with planned investment cost and often a planned completion date. This survey includes all major metals (except bauxite and magnesium, which are included in the full database) and diamonds. RMG continues to monitor the rare earths, which have attracted rising political interest. Coal projects are not included but are covered in the RMD Coal database. Chinese companies and China becomes a powerful global player in the mining industry, but it will undoubtedly happen. Viktoriya Larsson is a senior research analyst at IntierraRMG. Magnus Ericsson is a co-founder and partner of the Raw Materials Group and professor of mineral economics at the Luleå University of Technology in Sweden. Eligibility for a full listing requires each project to have an announced investment cost estimate, reserve/resource data and anticipated future production figures available. The comparability of figures from different companies, countries and regions varies—for example, project definition may vary among sources, and some project data may include large infrastructure investments. The information contained in the survey is global in scope; however, complete coverage in some regions or countries, such as China, is difficult to achieve. However, the survey includes mine projects from more than 70 countries, and RMG believes its aggregate figures reflect overall investment trends in the mining industry. For more information, please visit Raw Materials Group on the Web at www.intierrarmg.com or call +46-8-7440065. Major Mining Investment Projects Worldwide, Year End 2013 Project Name Gold Cerro Casale Donlin Creek KSM Galore Creek Metates Dome Mountain Caspiche Livengood Tasiast Olimpiada Sukhoy Log Cerro Negro Davidson-Blackwater Natalka Eleonore Courageous Lake Lihir Rosia Montana Konevinskoye Bakyrchik Bystrinskoye Mount Todd South Deep Bloemhoek Hycroft (Crofoot/Lewis) Plavica Golden Meadows Prosperity (Fish Lake) Meliadine Spanish Mountain Volta Grande Brisas Rainy River Jiama Lobo/Marte Panimba Morelos Kibali Angostura Kiaka Back River Golden Highway Tarkwa Copper Udokan Andina Cobre Panamá Frieda River Quebrada Blanca (SX-EW) Quebrada Blanca (primary) Las Bambas Tampakan www.e-mj.com Location Status Type Products Chile USA Canada Canada Mexico Canada Chile USA Mauritania Russia Russia Argentina Canada Russia Canada Canada Papua New Guinea Romania Russia Kazakhstan Russia Australia South Africa South Africa USA Macedonia USA Canada Canada Canada Brazil Venezuela Canada China Chile Russia Mexico Congo (Dem Rep) Colombia Burkina Faso Canada Canada Ghana Russia Chile Panama Papua New Guinea Chile Chile Peru Philippines Controlled by Project Cost (US$ M) Prefeasibility Feasibility Feasibility Prefeasibility Feasibility Suspended, restart/feasibility Prefeasibility Feasibility Operating, exp/constr Operating, exp/plans Feasibility Construction Conceptual Suspended, restart/constr Construction Prefeasibility Operating, exp/plans Feasibility Operating, exp/plans Suspended, restart/feasibility Feasibility Suspended, restart/constr Operating, exp/plans Feasibility Operating, exp/feasibility Conceptual Closed, reopen/plans Feasibility Prefeasibility Prefeasibility Feasibility Feasibility Feasibility Operating, exp/feasibility Prefeasibility Prefeasibility Construction Operating, exp/constr Prefeasibility Feasibility Prefeasibility Conceptual Operating, exp/feasibility OP OP OP OP UG UG OP OP OP OP OP UG OP OP UG OP OP OP OP OP, UG OP OP OP, UG UG OP OP OP OP OP, UG OP OP OP OP, UG OP, UG OP OP OP OP, UG UG OP OP, UG OP OP Au, Ag Au Au, Cu Au, Ag Au, Ag Au Au, Ag Au, Ag Au Au Au, Pt Au Au, Ag Au Au Au Au Au, Ag Au Au Au, Cu Au, Ag Au Au Au, Ag Au, Ag Au Au, Cu Au Au, Ag Au Au, Cu Au, Ag Au, Cu Au Au, Au Au Au Au, Ag Au Au Au Au Barrick, Kinross Gold Barrick, NovaGold Res Seabridge NovaGold Res, Teck Chesapeake Metal Mountain Exeter Resource Intl Tower Hill Kinross Gold Polyus Gold State of Russia Goldcorp New Gold Polyus Gold Goldcorp Seabridge Newcrest Gabriel Res Vertex, Rusfinansgrup Sumeru Norilsk Nickel Vista Gold Gold Fields Wits Gold Allied Nevada Genesis Res Vista Gold Taseko Agnico-Eagle Spanish Mountain Belo Sun Gold Reserve New Gold CNGC Kinross Gold Polyus Gold Torex Gold Prefeasibility Operating, exp/constr Feasibility Feasibility Operating, exp/constr Feasibility Construction Feasibility OP OP, UG OP OP OP OP OP OP Cu, Ag Cu, Mo Cu, Au Cu, Au Cu Cu Cu Cu, Au Metalloinvest Codelco First Quantum Glencore Xstrata Teck Teck Glencore Xstrata Glencore Xstrata, Indophil Res 6,000 5,845 5,312 5,208 4,360 4,187 2,800 2,790 2,700 2,500 2,500 1,800 1,800 1,800 1,751 1,520 1,400 1,400 1,400 1,124 1,100 1,046 1,023 1,000 0,985 0,902 0,879 0,807 0,786 0,756 0,749 0,731 0,717 0,705 0,700 0,699 0,675 Anglogold, Randgold Res, State of Congo (Dem Rep) 0,670 Eco Oro 0,649 Volta 0,610 Sabina Gold 0,608 Moneta 0,608 Gold Fields 0,600 10,500 06,400 06,181 05,600 05,600 05,600 05,200 05,200 JANUARY 2014 • E&MJ; 29