Engineering & Mining Journal

JUN 2012

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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BASE METALS be spent on the feasibility study for taking Chuquicamata underground, with other studies under way on projects at Andina, Radimiro Tomic and San Antonio. In the U.S., BHP Billiton is spending $195 million on restarting its Pinto Valley operation in Arizona, with a year- end start scheduled for a 60,000 mt/y operation. In Chile, it has committed $4.5 billion (along with its partners) for two projects that will expand Escondida's output even further, while confirming new increases in the operation's reserve base. However, the company's major cop- per-orientated development project remains Olympic Dam, where a feasibili- ty study is now in progress. The project, which includes a new open-pit mine and expanded plant facilities, has the poten- tial to increase copper production there from 180,000 mt/y to 750,000 mt/y, plus gold and uranium, with a provision- al price tag of some $8.2 billion. In southern Peru, the first blast at Xstrata Copper's Antapaccay project took place in March. In 2010, the company committed $1.47 billion in capex to develop the deposit, which is 9 km from its existing Tintaya mine. Based on a re- source of 817 million mt grading 0.51% copper, Antapaccay will produce an average 143,000 mt/y of copper over a 22-year life. Greenfield Copper Projects Major new greenfield copper projects that are currently at various stages of devel- opment include Antofagasta and Barrick Gold's Riko Diq in Pakistan, Barrick's Jabal Sayid in Saudi Arabia, and Xstrata's Tempakan in the Philippines. In Mongolia, Rio Tinto and Ivanhoe Mines are developing Oyu Tolgoi, while Rio Tinto and BHP Billiton have their Resolution Copper project in Arizona. In Chile, Antofagasta gave the go-ahead in December for the development of Antucoya at a cost of $1.3 billion and sold a 30% stake in the project to Marubeni—with whom it is already in partnership at its Los Pelambres, El Tesoro and Esperanza mines. According to Antofagasta, Riko Diq now has a porphyry-hosted resource of 5,900 million mt grading 0.41% copper and 0.22 g/mt gold. A feasibility study has indicated an initial output of 190,000 mt/y of copper and 270,000 oz/y of gold COMPANY PROFILE-PAID ADVERTISEMENT Polydeck Screen Corporation For over 34 years, Polydeck Screen Corporation has been the leading provider of modular polyurethane, rubber and spe- cialty screening solutions for the aggregate, coal and mining industries. Their screen panels, frame systems and accessories have helped companies save time, increase production output, extend screen service life, and improve worker safety. 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All this has been accomplished through a philosophy of partnering with their cus- tomers to develop products that exceed the performance, durability and productivity of existing industry solutions while maintain- ing the highest standards of quality and customer service. For more information, please visit polydeckscreen.com. 92 E&MJ; • JUNE 2012 from a 110,000 mt/d operation, with a $3.3-billion capex cost. Last November, however, the Balochistan government refused an application for a mining lease for the project, with the joint venture oper- ating company, Tethyan Copper Co., hav- ing subsequently sought international arbitration to protect its rights. Due on stream mid-this year, Jabal Sayid will add between 45,000 and 60,000 mt/y to Barrick's copper output, which is currently sourced from its Zaldivar mine in Chile and from Lumwana in Zambia, acquired with its takeover of Equinox Minerals last year. Jabal Sayid carries a $400 million con- struction cost, and is based on a 550,000 mt copper reserve. Tempakan, which Xstrata controls through its subsidiary, Sagittarius Mines Inc., has a total resource of 2,940 mil- lion mt grading 0.51% copper and 0.19 g/mt gold. A feasibility study, completed in 2010, envisages an operation with a capacity of 375,000 mt/y of copper and 360,000 oz/y of gold over an initial 17- year life, with a capex cost of $5.9 bil- lion. If permitting is achieved, production could start by 2016, Xstrata believes. Polydeck Screen Corporation 1790 Dewberry Rd. Spartanburg, SC 29307 Tel: 864-579-4594 Email: info@polydeckscreen.com www.polydeckscreen.com www.e-mj.com

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