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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LOCAL POLITICS FEBRUARY 2018 • E&MJ; 45 www.e-mj.com est-grade copper deposit in development in the world." The planned underground mine would reportedly net 240 jobs with "an average salary of approximately $65,000 per year." The permitting pro- cess began in late 2015. According to its fiscal year report for 2017, published in June, the miner is currently waiting for permits from the state and the USACE. Compare that to the timeline for the Las Bambas copper mine in Cotabambas, Peru, owned by Melbourne's MMG. Explo- ration climaxed there in 2008. The feasi- bility study circulated in 2009. By 2011, the miner had the requisite permits. Ma- jor construction began shortly thereafter, with both commissioning and production of concentrate occurring in 2015. That is three years from exploration to completion of permitting. In 2017, the mine delivered 453,749 mt in its first full year of commer- cial production. That number helped lift the company to a record year for production. In another example, K+S opened its Bethune mine in 2017, shipping out pot- ash via a new rail spur in July from a plant commissioned in May. The mine, on a de- posit of 160 million mt and with a predict- ed long-term annual production capacity of 2.86 million mt, is the first greenfield potash mine in Saskatchewan in more than 40 years. When K+S acquired the property from Potash One in 2011, the latter had only Potash Subsurface Exploration Permits for it. Potash One had drilled and put in minimal water and electrical infrastructure. Within a year, K+S cranked out a feasibility study, and broke ground shortly thereafter. Initial production launched in 2015. Meanwhile, back in the states, Aquilla fits the mold of a miner trying to hold on to seemingly lucrative U.S. properties. In 2016, sitting on three five-year-old Ameri- can projects, it posted a net loss of almost $8 million, up from a $6.2 million net loss the year prior, and stated in its financial reports that "none of the company's prop- erties have advanced to the point where a production decision can be made. As a consequence, the company has no produc- ing properties and no sales or revenues." According to its most recent financial reports, the company is bogged down with obtaining a wetlands protection permit from the state of Michigan. "Our focus re- mains on developing the Back Forty mine in Michigan's Upper Peninsula," Lessard said. That is where the company feels it has its best chance of actually breaking ground in the near future. That mine is the subject of both protests and litigation filed by the Menominee Tribe, who is su- ing the USACE and the U.S. Environmen- tal Protection Agency, alleging both failed to enforce the federal Clean Water Act. Regarding the Bend and Reef pro- jects, the company reported that future exploration was dependent on the avail- ability of funding, the markets, and local government action. "While we do have early-stage assets in Marathon and Taylor counties in Wisconsin, it's far too early to know if these resources will develop into mines," Lessard said. The company's fi- nancial reports include a disclaimer that explains what she means when she says resources. "Mineral resources that are not mineral reserves do not have demonstrated economic viability," Aquilla reported. "The estimate of mineral resources may be ma- terially affected by environmental, permit- ting, legal, title, taxation, sociopolitical, marketing, or other relevant issues." 27825 State Route 7 | Marietta, Ohio 45750 USA 740.374.6608 | www.terrasonicinternational.com Up to 12" casing diameter standard Near in situ core samples 100% core recovery in most formations No premature refusal Y Drill more quickly and with less deviation from vertical than with any other coring or boring methodology Drill sonically from vertical to nearly horizontal The TSi 150 Series Sonic Oscillator is the most powerful and reliable Sonic Head manufactured today Visit www.terrasonicinternational.com/emj to learn more or to schedule a demo E W I F I E C E W I E I C