Engineering & Mining Journal

NOV 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 NOVEMBER 2018 • E&MJ 5 www.e-mj.com as we continue to drive operational im- provements in our more established op- erations and advance programs to extend their mine lives." During the quarter, the Democratic Republic of the Congo's (DRC) Govern- ment has commenced enforcement of el- ements of the 2018 Mining Code, includ- ing increased royalty rates, import duties and environmental taxes. MMG made a formal request for nego- tiation with the DRC Government under the Bilateral Investment Treaty between the DRC and China, and is looking to enter negotiations with the DRC Govern- ment regarding the implementation and application of the 2018 Mining Code. MMG expects to produce 455,000 to 475,000 mt of copper and 210,000 to 230,000 mt of zinc in 2018. RNC Finds High-grade Gold at Beta Hunt RNC Minerals has discovered multiple occurrences of exceptionally high-grade, coarse gold at its Beta Hunt gold-nickel mine south of Kambalda, Western Aus- tralia. Mining has been ongoing at Beta Hunt for 45 years by several different operators. RNC's discoveries have been below previously mined levels that were not subjected to exploration drilling by earlier operators. RNC released information about its discoveries over a period of weeks begin- ning September 9. During the week pri- or to September 9, approximately 9,250 ounces (oz) of high-grade gold was pro- duced from a 44-m 3 cut, 130 metric tons (mt), on 15 level at the Beta Hunt mine, a grade of more than 70 oz/mt. Large spec- imen stones included a 95-kg stone with an estimated gold content of 2,440 oz and a 63-kg stone with an estimated gold content of 1,620 oz. All of the high-grade, coarse gold was hand-picked and immedi- ately sent to the Perth Mint. Follow-up announcements over en- suing weeks included an estimate that 24,000 oz of gold had been extracted from the discovery zone, as well as de- scriptions of the geologic structures that host the gold and suggestions as to why these structures interacted to produce high-grade gold deposits. RNC antic- ipates that understanding the deposi- tional model for the gold mineralization will serve as a guide for future explora- tion within the mine. RNC President and CEO Mark Selby de- scribed Beta Hunt mine geology and why the coarse, high-grade gold at the mine is only now being discovered. He said work to date has only scratched the surface of the mine's gold potential and anticipates that there will be an ongoing flow of news from the mine over the next six months to a year. RNC is a Canadian company headquar- tered in Toronto. In addition to the wholly owned Beta Hunt mine, its holdings in- clude a 28% interest in a nickel joint ven- ture with Waterton that owns the Dumont nickel-cobalt project in the Abitibi region of Quebec, which hosts the world's largest undeveloped nickel reserve and second largest undeveloped cobalt reserve. OZ Earns 51% Interest in West Musgrave Project OZ Minerals has earned a 51% interest in the West Musgrave nickel-copper proj- ect in Western Australia from Cassini Re- sources following an investment of $22 million. The project is located 30 kilome- ters (km) from Jameson, Western Austra- lia, near the state's borders with South Australia and the Northern Territory. OZ and Cassini are conducting a prefeasi- bility study (PFS) of the project, focused to date on further drilling and improving metallurgical recoveries. OZ Minerals is managing the PFS, which is scheduled for completion in the second quarter of 2019. Newmont Suriname has reached 1 mil- lion ounces of gold poured at the Meri- an gold mine in east Suriname two years after commercial production began on October 1, 2016. Merian employs ap- proximately 2,000 people and was built safely, on time and approximately 20% below budget, with total development capital of US$525 million invested by Newmont, the company said. Staatsolie, on behalf of the government of Suriname, owns 25% of the operation. "Our partnerships with the govern- ment, Staatsolie and local Pamaka communities form the foundation of the mine's success and we look forward to many more years of safe, efficient and re- sponsible gold production in Suriname," said Albert Ramdin, Newmont's senior di- rector for external relations in Suriname. In 2018, the second phase of the Merian project was completed safely, on time and within budget with the construc- tion of a primary crusher to process hard- er ores that will be recovered, as the mine gets deeper. Based on current gold Reserves, New- mont Suriname projects a mine life of approximately 15 years for Merian. The company is also conducting exploration activities at Sabajo and in North and South Amazonia, which could further ex- pand and extend production in Suriname. The Merian gold mine is located ap- proximately 60 kilometers (km) south of Moengo, Suriname, and is predominantly in the Pamakan area about 15 km west of the Marowijne River. Newmont Suriname LLC, previously known as Suriname Gold Company LLC, is a subsidiary of Newmont Mining Corp., which operates the mine on behalf of Suriname Gold Project CV, a Su- riname limited partnership. Newmont Su- riname is the managing partner, owning a 75% interest in the limited partnership, and Staatsolie Maatschappij Suriname N.V., Suriname's state-owned oil compa- ny owns the remaining 25% interest. Newmont Suriname Reaches 1M Oz Production Milestone Employees at Newmont's Merian gold mine gather around the dore bar containing the 1-millionth gold ounce.

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