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
Issue link: https://emj.epubxp.com/i/70939
REGIONAL NEWS - ASIA copper concentrate at facilities in the city of Tongling, alongside the Yangtze river, and then smelt the concentrate at its smelting facilities. The purchase price to be paid by Tongling will be based on the quality of the copper concentrate pro- duced. The agreement covers a period of three years, beginning with the first deliv- ery of product from Solwara 1, targeted for the fourth quarter of 2013. The agreement includes a mechanism for an early payment of 90% of the price upon loading of the export vessel in Papua New Guinea. Final payment is based on the recovery of copper, gold and silver reporting to the copper concen- trate, with deductions for capped logis- tics and processing costs, smelter treat- ment and refining charges, allowances for plant fixed capital recoveries, and Tongling's tolling fee on concentrator plant processing costs. The price payable for copper will be based London Metal Exchange copper prices, and the price payable for silver and gold will be based on London Bullion Market Association prices. Further value may be realized through a 50%:50% profit-sharing scheme based on incre- mental byproduct revenue realized in China, including gold-bearing pyrite. Material from the process can be roasted in China to produce gold and sulphuric acid, and the remaining calcine may be sold to cement manufacturers or as iron ore fines. "With minimal waste, Tong- ling's process brings significant benefits consistent with Nautilus' commitment to minimize environmental impacts," the company said. Nautilus will issue a bank guarantee to Tongling in three stages over nine months, which will not exceed approxi- mately $11.5 million, as a security for 50% of Tongling's concentrator invest- ment costs, starting with the first order of major equipment. Nautilus is currently progressing the build of equipment, including the seafloor production tools and production support vessel, for the Solwara 1 project. Nautilus CEO Stephen Rogers said the company is looking forward to working with Tongling to realize the full potential of the high- grade material extracted from Solwara 1. "We have now closed the value chain on the project, established our first customer for seafloor massive sulphides, and look forward to building a long-term relation- ship with Tongling," he said. COMPANY PROFILE-PAID ADVERTISEMENT ASSA ABLOY Entrance Systems ASSA ABLOY Entrance Systems introduces its combined offering of Albany and Megadoor industrial door solutions for the mining industry. ASSA ABLOY Entrance Systems (AAES), a divi- sion within ASSA ABLOY, is a leading supplier of entrance automation for the efficient flow of goods and people. We offer complete pedestrian, industrial and high-performance door solutions dedicated to satisfying end-user needs for safe, secure, convenient and sustainable operations. For the mining industry, AAES offers a range of strong solutions from two product brands: Albany, the world's leader in high performance door solutions and Megadoor, designed for com- mercial buildings, tough environments and very large openings. AAES brings together industry- leading technologies from both Albany and Megadoor to meet the demanding door require- ments of the mining industry. From truck shops, wash bays and maintenance facilities to loading docks and parking garages, AAES can provide entrance solutions for all applications. Megadoor's vertical lifting fabric door is designed to withstand extreme temperatures, high wind conditions, dirt, sand and grit. It features a flex- ible design, which means there are no practical limits to the size and configuration. The door can be designed around an existing crane and crane 44 E&MJ; • JUNE 2012 rails for rapid and reliable operation, and can be customized to meet a wide variety of demands. Plus, the Megadoor can be built with a translu- cent fabric that will let in natural light to create a better working environment. Albany's high performance rubber door features a ¼" thick rubber panel, heavy-duty steel side frames and a patented, Windlok guide system. Combined, these features provide resiliency against damage, extreme conditions and high wind loads of up to 88 mph. Plus Albany's rub- ber door can take a hit. The curtain and break away bottom beam is designed to withstand acci- dental impact and remain operational. With a minimum of moving parts, it is the only door of it's size that can be repaired in minutes without special tools. Both Megadoor and Albany put safety first. The Megadoor is designed with patented safety arrestors which prevent a "fee-fall" condition in the event the lifting mechanisms fail. Sophisticated controls and sensors protect the Megadoor and continuously monitor the opening. Albany's rubber door has through beam photo eyes that detect objects in the doorway and safe- ly opens the door before contact, as well as a fail- safe electric bottom edge—with any slight con- tact, the door will automatically reverse to the open position. Albany's TruckGuard safety system provides a full six-foot high curtain of continuous, protective photo beams on both sides of the door. Megadoor and Albany design industrial doors that will provide a lifetime of strength and relia- bility. Our reliable entrance solutions are recog- nized for their low cost of ownership throughout the lifetime of the door. We are proud to combine our extensive knowl- edge on automated entrance solutions to the mining industry. Both brands have effectively served the mining industry for years. We know what is needed in rugged mining conditions: Doors that provide safe and reliable operation, airtight seals and are fast and resilient. About ASSA ABLOY— the global leader in door opening solutions As the world's leading lock group, ASSA ABLOY offers a complete range of door opening solu- tions with a portfolio that includes locks; cylin- ders and security doors; electronic access and identity; and automatic entrance solutions. Since its formation in 1994, ASSA ABLOY has grown into an international group with around 40,000 employees and sales of around SEK 41 billion. ASSA ABLOY is represented worldwide, with leading positions in much of Europe, North America, Asia and the Pacific. www.e-mj.com Basic Element and Norinco Expand Partnership Oleg Deripaska, CEO, Basic Element (and UC Rusal and president of En+ Group), and Zhang Guoqing, president of China North Industries Corp., signed a cooperative agreement for the joint implementation of projects in the engi- neering, mining and metal sectors. Basic Element and Norinco plan to boost the value of their economic and trade coop- eration to more than $1 billion within three years. In particular, UC Rusal has undertaken to expand its export of aluminum products to China through sales to North United Aluminum (Shenzhen) Co. Ltd., a joint venture company established by the part- ners in China on the basis of Shenzhen North Investments, a Norinco subsidiary trading company with 15-year experience in Chinese non-ferrous metals market. UC Rusal will also study the feasibility of inviting Norinco to supply anode produc- tion equipment for the Taishet aluminum smelter which is under construction. En+ Group and Norinco agreed to dis- cuss Norinco's participation in a project to create Russia's largest aluminum rolling mill on the basis of the