Engineering & Mining Journal

MAY 2019

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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Page 23 of 83

NEWS - CONTINUED 22 E&MJ • MAY 2019 NEWS - CALENDAR OF EVENTS MAY 27-30, 2019: Exponor Chile 2019, Antofagasta, Chile. Contact: Web: JUNE 3-7, 2019: 34 th Annual Elko Mining Expo, Elko Convention Center, Elko, Nevada. Contact: Web: JUNE 4-6, 2019: The 39 th APCOM Mining Goes Digital conference, Wroclaw, Poland. Contact: Web: AUGUST 27-29, 2019: AIMEX, Sydney Showgrounds, Sydney, Australia. Contact: Web: SEPTEMBER 6-7, 2019: Annual Meeting of the Mining Electrical Maintenance and Safety Association, Sheraton Sand Key, Clearwater Beach, Florida. Contact: Web: SEPTEMBER 9-12, 2019: Exposibram, the Brazilian Mining Expo & Congress, Expominas, Belo Horizonte, Brazil. Contact: Web: SEPTEMBER 16-20, 2019: 37 th International Conference and Exhibition of ICSOBA, Krasnoyarsk, Russia. Contact: Web: SEPTEMBER 16-20, 2019: Perumin, Centro de Convenciones Cerro Juli, Arequipa, Peru. Contact: Web: OCTOBER 9-10, 2019: China Mining 2019, Tianjin Meijiang Convention Cen- ter, Tianjin, Peoples Republic of China. Contact: Web: OCTOBER 30-NOVEMBER 2, 2019: China Coal & Mining Expo, New China International Exhibition Center, Beijing, China. Contact: Web: NOVEMBER 19-20, 2019: Smart Mining Conference, Tivoli Conference Center, Aachen, Germany. Contact: Web: DECEMBER 2-6, 2019: The 2019 American Exploration & Mining Association annual meeting, Nugget Casino Resort, Sparks, Nevada, USA. Contact: Web: The company has implemented the Emergency Action Plan for Mining Dams (PAEBM) for the BL1 and BR dams in Tapira (MG) and the BR dam in Catalão (GO), which were classified as emergency level 1, the least critical of the three-cat- egory rating system. Lundin Mining Will Acquire Chapada Mine in Brazil Lundin Mining Corp. has entered into an agreement with Yamana Gold to purchase Maracá Indústria e Comércio S/A, which owns the Chapada copper-gold mine lo- cated in Brazil, for an $800 million cash consideration. In addition, Yamana will retain a 2% net smelter return (NSR) roy- alty on future gold production from the Suruca gold deposit and receive contin- gent consideration of up to $125 million over five years if certain gold price thresh- olds are met and contingent consideration of $100 million on potential construction of a pyrite roaster. "Chapada is a well-run, established operation with an experienced local work- force," Lundin Mining President and CEO Marie Inkster said. "Leveraging our technical expertise, base metals focus and financial strength, we believe further opportunities exist to create meaningful stakeholder value." Located in Brazil's Goiás state, Chapa- da is expected to produce approximately 54,500 metric tons (mt) of copper and 100,000 ounces (oz) of gold, or approx- imately 75,000 mt copper equivalent. In 2018, the operation produced ap- proximately 58,600 mt of copper and 121,000 oz of gold. Since production commenced in 2007 to the end of 2018, the operation has processed 225 million mt of ore grading 0.38% copper and 0.33 g/mt gold, producing approximately 743,500 mt of copper and 1.6 million oz of gold in concentrate. The Chapada orebodies are part of a large copper-gold mineralized system lo- cated approximately 270 km northwest of the national capital of Brasilia. The operation is connected to the national grid via a private powerline with excess capacity for expansion. A traditional open-pit truck and shovel operation with a relatively low strip ratio and benefiting from an in-pit crusher, Chapada is cur- rently producing from three open pits in close proximity. The Chapada concentrator is a con- ventional crush, grind and flotation pro- cessing plant, producing a gold-rich cop- per concentrate. In 2018, the treatment plant processed an average of 63,000 mt/d with average copper and gold re- coveries of 82% and 63%, respectively. Plant expansion opportunities to increase the processing rate to a range from 28 million mt/y to 32 million mt/y are cur- rently being studied by Yamana and Lun- din Mining. Hochschild Will Extend Inmaculada Mine Life Hochschild Mining Co. plans to increase the life of its Inmaculada mining opera- tion by 10 years. This was indicated by Ignacio Bustamante, CEO and director of Hochschild Mining, who presented "Hochschild Mining: Present and Fu- ture," during the Business Breakfasts IIMP organized by the Peruvian Institute of Mining Engineers (IIMP). The executive said that, last year, Inmaculada achieved a record produc- tion of more than 251,000 ounces (oz) of gold equivalent, at a total pro- duction cost of $731/oz. However, he noted that the most important fact was the discovery of an additional 1.3 mil- lion oz, which allowed the company to make the decision to extend the years of operation. "Everything depends on the plant capacity and new processing technolo- gies (ore sorting)," he said. "We can se- lect the mineral better and have a prod- uct with better ore grade. This would shorten mine life a bit, but it would be more profitable." Bustamante also said this finding was due to the start of the first exploration campaign undertaken by Hochschild in the east of the Angela vein, where 17 structures were found. "The geological approach for this year is to continue evaluating these structures, as well as others to the north, south and west of the Angela vein," he said. (Regional News-Latin America - from p. 12)

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