Engineering & Mining Journal

OCT 2018

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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NEWS-LEADING DEVELOPMENTS OCTOBER 2018 • E&MJ 5 www.e-mj.com dex in 2007, and has been included on the DJSI North America Index every year since 2006. "This recognition is an important re- flection of how well we are doing to cre- ate value and improve lives for all of our stakeholders," said Gary Goldberg, presi- dent and chief executive officer. "Employ- ees at our sites around the globe know that leading in profitability and responsi- bility go hand-in-hand, and that their day- to-day work can have positive and lasting impacts on local communities." In addition to being recognized as the metals and mining sector's sustainability leader, Newmont achieved outstanding per- formance in a number of areas including: • Economic: Corporate Governance, Risk and Crisis Management, and Policy Influence; • Environmental: Biodiversity, Climate Strategy, and Water-related Risks; and • Social: Labor Practice Indicators, Hu- man Rights, Corporate Citizenship and Philanthropy, and Asset Closure Management. RobecoSAM evaluated 600 data points for nearly 2,100 companies to determine inclusion and ranking on the DJSI. Areas evaluated included corporate governance; risk and crisis management; supply chain management; climate strat- egy; human rights; talent attraction and retention; safety; environmental man- age-ment and performance; codes of business conduct; local community de- velopment; and labor practices. Cliffs Completes Sale of Asia-Pacific Assets Cleveland-Cliffs has closed the sale of its Asia Pacific Iron Ore assets to Mineral Re- sources Ltd. (MRL) at the end of August. With the transaction, Cliffs' previously disclosed costs of closing the Australian operations were reduced by approximate- ly $85 million, which included asset re- tirement obligations assumed by MRL. "With the closure of the sale of the Australian assets, we have now complet- ed our multiyear transformation back to our roots as a supplier of high-grade iron units to the Great Lakes steel industry," said Lourenco Goncalves, Cliffs chair- man, president and CEO. s a result of the transaction, in the third quarter, Cliffs will be recording a reversal of its currency translation ad- just-ment, which will result in a positive Century Mine Reopens The official reopening of the New Century Resources Ltd.'s Century mine started on September 14. The opening was marked with a formal event on site, with the New Century team welcoming guests from state and federal government, the in- vestment community and the media. The company was particularly pleased to wel- come Federal Minister for Resources and Northern Australia, Sen. the Hon. Matt Canavan, along with the Hon. Bob Kat- ter, member of parliament, Robbie Katter, member of parliament, local mayors and representatives of the Waanyi community. Guests on the site visit were treated to an inspection of the New Century Re- sources tailings reprocessing operations, providing a close-up view of Australia's largest ever hydraulic mining operation. Phase 1 operations at the Century mine are under way, which involve the mining and reprocessing of 8 million tons per year of tailings and production of zinc concentrate to be exported via the com- pany's port facility at Karumba. The com- pany is targeting the progressive ramp up of operations to 15 million t/y via the re- furbishment of the northern flotation train and further supporting infrastructure at the Century mine. New Century Resources' Managing Di- rector Patrick Walta said, "New Century Resources is dedicated to implementing its economic mine rehabilitation strategy and to establishing a successful business that creates improved environmental out- comes and continued community benefits. The reinvigorated Century mine operations have also created ongoing indigenous employment opportunities and local com- munity development initiatives through the continued implementation of the Gulf Communities Native Title Agreement." For several years, the Waanyi-Downer Joint Venture has been actively engaged at Century through ongoing care and maintenance works and delivery of train- ing and development programs for local indigenous peoples. In May, New Century announced it had executed a Cultural Heritage Manage- ment Plan (CHMP) and a Mining Services Agreement (MSA) with the WDJV to under- take works associated with the company's insitu Mineral Resource at South Block. The WDJV is a 50/50 joint venture between Waanyi Enterprises Pty Ltd. and Downer EDI Mining Pty Ltd., representing the interests of both the Waanyi People (Traditional Owners of the Century Mining Lease area) and Downer Group's Mining Services Division. The WDJV is chaired by Warren Mundine, former head of the prime minister's Indigenous Advisory Council. The incorporation of the MSA with- in the compensation arrangements for a CHMP is a first for the mining indus- try and provides a viable mechanism to properly recognize the significant value of Indigenous Cultural Heritage, while also empowering Traditional Owner communi- ties with mining developments occurring within their traditional lands. Minister Canavan said, "I am passionate about the mining industry and this Project demonstrates why: it brings income and jobs to regional areas and improves the state and national economies as well." New Century Resources Managing Director Patrick Walta and Sen. the Hon. Matt Canavan (right) touring the hydraulic mining facilities at the Century zinc mine.

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