MINING WELCOME 欢迎采矿 - The ASIA Miner

More documents

Recommendations

Info

Central Asia Kazakhstan world’s largest uranium miner KAZAKHSTAN’S international energy image is now that of one of the world’s rising oil exporters, an extraordinary feat given that, two decades ago its hydrocarbon output was beyond insignificant when the USSR collapsed, and the vast Central Asian nation, larger than Western Europe, has quietly passed another energy milestone. Kazakhstan produces 33% of world’s mined uranium, followed by Canada at 18% and Australia with 11% while Kazakhstan contains the world’s second-largest uranium reserves, estimated at 1.5 million tonnes. Until two years ago Kazakhstan was No 3, following Australia and Canada. The trio is responsible for about 62% of global production. According to Kazakhstan’s State Corporation for Atomic Energy, Kazatomprom, during January-September 2011, the country mined almost 14,000 tonnes of uranium, 11% higher than the same period in 2010. Kazatomprom’s revenues also soared 72% year-on-year. Kazatomprom is the national operator for the export of uranium, as well as rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-purpose materials. To put this accomplishment in context, just five years ago Kazakhstan produced 5279 tonnes of uranium. While the disaster at Japan’s Fukuhima nuclear complex caused several European nations to reassess their commitment to nuclear power, Kazakhstan’s regional markets seem assured in Asia’s rising economic powerhouses China and India. While Beijing reacted to Fukushima by ordering thorough inspections of nuclear power plants, China’s Commission of Science Technology and Industry for National Defence in its 11th Five-Year Plan for the Nuclear Industry announced China intended to produce 40 gigawatts of nuclear power electrical generating capacity within a decade, even though nuclear power currently accounts for just 1.4% of China’s electrical power generation. If China follows through with its nuclear power plant construction plans the country will need an estimated 44 million pounds of uranium annually, as by 2020 the country will have a total of 77 planned and proposed new reactors. Of China’s 11 nuclear power plants, the oldest, Qingshan-1, only came online in 1991. India’s nuclear ambitions parallel China’s. While nuclear power accounts for only 3-4% of the country’s electrical output, India has 19 planned and proposed nuclear power reactors on the drawing board. The Japanese nuclear crisis has not overshadowed Astana’s optimism. Speaking at the Minex conference in Astana, Kazatomprom president Vladimir Shkol’nik stated that the Fukushima debacle would not greatly influence the Kazakh state atomic company’s plans. Kazakhstan is moving beyond mining of uranium to producing nuclear fuel rods. On November 4 French Industry and Energy Minister Eric Besson signed a contract with the Kazakh government allowing France’s Areva to open a nuclear fuel plant with Kazatomprom. A statement from Besson’s office noted, “This deal commits to the creation in Kazakhstan of a nuclear fuel production plant dedicated to the Asian market. The construction of this plant could start as soon as the feasibility study is completed by the end of the first quarter of 2012.” According to the agreement, the facility will consist of a new production line at Kazakhstan’s ULBA metallurgical plant that will be 51% owned by Kazatomprom and 49% by Areva. And flush with cash, Kazatomprom may buy into the Russian Federation’s Urals Electrochemical Integrated Plant, the largest uranium enrichment facility within Russian State Nuclear Energy Corporation Rosatom. Rosatom’s CEO Sergei Kirienko said, “We are involved in purely technical procedures now, taking into account the organization and relevant restrictions (of a closed nuclear facility). We are moving within a set timetable. We have a plan - to complete all work in 2012. And we should begin working with Kazatomprom in 2012.” In the final quarter of 2011, the International Energy Agency released its ‘World Energy Outlook’ which states that if the world is serious about global warming, it should consider the continued use of nuclear power to reduce greenhouse emissions. With Kazakhstan’s daily oil exports running at 1.74 million barrels and it being the world’s largest uranium miner, it would seem Astana is going to continue to rake in the cash no matter what energy policies the world adopts in the short term. —By John CK Daly of http://oilprice.com Chaarat on track for Tulkubash production CHAARAT Gold Holdings is on track to begin production at the Tulkubash deposit of its Chaarat Gold Project in northwest Kyrgyz Republic in the second quarter of 2013. The company has been encouraged by a 56% increase in resources to 501,000 ounces. The company has been upgrading the resource to reserve status and increasing the overall project size and production rate as well as carrying out permitting, design and detailed engineering. Ongoing work also includes infrastructure development and construction as well as recruitment and team building. Exploration has focused on improving the resource and generating reserves from the open pittable section of the Central Tulkubash ore body, both of which provided encouraging results. This has helped improve Chaarat’s understanding of the project to the extent that it believes the resource may have the capability of supporting a larger daily production base of 2500 tonnes. A total of 15,413 metres of drilling generated an open pittable resource of 404,000 ounces from a total of 501,000 ounces. Further drill results to the south and north indicate the reserve can be increased significantly. The strike extension and the geometry of the pit mean production can be increased without changing the strip ratio and without interrupting mining activities. Drilling in the Tulkubash zone suggests that the mineralized zone extends by a few kilometres due north and that this extension should make it possible to significantly increase production. The generation of a feedstock that is amenable to free milling from a low strip ratio open pit will provide cash generation opportunities. The engineering of the process plant has been mandated to ProMet from South Africa, which is affiliated to a large Chinese engineering and construction company, Dadi Engineering. As such a large part of the detailed design work is being executed in China. 46 | ASIA Miner | January/February 2012
Central Asia Studies boost value of Shambesai project MANAS Resources’ Shambesai Gold Project in the Kyrgyz Republic is expected to generate net cash flows of up to US$190 million during the first five years of production, with more than 200,000 ounces of gold being produced. A revised mining evaluation and pit optimization study has upgraded the project’s potential, with increases to throughput, cash flows and mine life prompted by further oxide ore discoveries and future sulphide ore treatment. Estimated net cash flows attributable to indicated oxide resource material only totals more than US$137 million over five years with a further possible US$53 million from inferred oxide resource. The current probable reserve of oxide material is estimated to be 180,000 ounces over the five-year mine-life with the potential of a further 40,000 ounces from currently inferred oxide material that is contained within the pit shell. Annual production is expected to peak at 50,000 ounces in year 3 and average 40,000 ounces for the five years of the projected mine life from the indicated and inferred oxides. More than 75,000 ounces of gold contained within sulphide material stockpiled during oxide mining is not included in the cash flow estimates. Cash costs are estimated at US$370 per ounce for the first four years and US$465 per ounce for life-of-mine. Manas’ managing director Stephen Ross says, “We are extremely pleased with the updated cash flow numbers from the pit optimization study which, when compared to the November 2010 scoping study, demonstrate that we can expect a much improved production rate and subsequent improved cash flows for the Shambesai shallow oxides alone. “Despite this conservative approach to the mining plan focusing on the near-surface oxide material only, project cash flows from the updated pit optimization work have almost doubled. We look forward to the granting of our mining licence and an early move into the implementation phase of the Shambesai gold project.” Shambesai is in the Tien Shan Belt and is expected to be one of the world’s lowestcost gold operations. Manas is the largest and most active gold explorer in the Kyrgyz Republic with nine projects under exploration. The company’s second largest gold project, Obdilla, is 7km from Shambesai and has a resource estimate of 485,000 ounces. The project’s feasibility study, which was scheduled for completion by the end of 2011, includes the recently completed mining evaluation and pit optimization study as well as basic engineering for the proposed processing plant and updated capital and operating costs. In September, Shambesai was upgraded to an indicated and inferred resource of 11.6 million tonnes @ 2.1 grams/tonne gold for 766,000 ounces of gold. An impression of the mineral inventory in the preliminary pit at Manas’ Shambesai project. Raisama lifts Kashkasu interest to 97.5% RAISAMA Limited has completed the acquisition of a further 22.5% interest in the Kashkasu II Uranium Project in the Kyrgyz Republic from Orca Energy and now holds 97.5%. This acquisition has removed any future joint venture funding issues that may have arisen given Orca no longer considered its interest in this project as a core asset. As part consideration for the purchase of this further interest Raisama has issued 870,000 fully paid shares to Orca. Moving to a 97.5% position will allow the ASX-listed company to plan the future of the project with a greater degree of certainty. Raisama has completed its 2011 field season exploration activities at the Kashkasu II project, including its phase 4 drill program. This program targeted down-dip and structural extensions of the known mineralization within the Turakavak formation. Due to difficult conditions in the uranium market as a result of the Fukushima Nuclear incident the company decided to halt the program after completing four holes. Despite that, the drilling intersections have more than doubled the known extent of mineralization down-dip, with economic uranium mineralization at depths of up to 394 metres. The best drill intersection was 10 metres @ 2130 ppm U3O8 and this section included 0.5 metres @ 14,458 ppm U3O8. The highest individual assay was 14,941 ppm U3O8, or 1.5% U3O8, from 274.5 metres to 274.75 metres depth down hole. A total of four mineralized zones were encountered within this hole, including the deepest of the project so far. Uranium is present both in sandstone and coal-bearing beds of the Turakavak formation. Structural interpretation has also highlighted the potential for additional zones of mineralization to be present due to folding and possible thrust faulting of the mineralized stratigraphy. January/February 2012 | ASIA Miner | 47
Page 1: January/February 2012 | Volume 9 |
Page 4: From The Editor Precious metals the
Page 7 and 8: Asian Intelligence Exploration budg
Page 10: Papau New Guinea Nautilus increases
Page 14: Papau New Guinea Yandera DFS progre
Page 18: Papau New Guinea High-grade gold as
Page 21 and 22: Company Profile An aerial view of t
Page 24 and 25: Papau New Guinea Maiden gold resour
Page 26 and 27: Australia High grade copper results
Page 28: Australia KBL updates Mineral Hill
Page 32 and 33: Mongolia Oyu Tolgoi 70% complete bu
Page 34 and 35: Mongolia Haranga increases Selenge
Page 36 and 37: China Exploration at Zhongqu and Di
Page 38 and 39: China Production delayed at Eastern
Page 40 and 41: China More balanced approach to res
Page 42 and 43: Indonesia Deep drilling success at
Page 44 and 45: Indonesia New alliance covers manga
Page 46 and 47: Philippines Mining Group to acquire
Page 50: India Astra secures third iron ore
Page 53 and 54: Vietnam Phuoc Son mill now at desig
Page 55 and 56: Chinese Investments Abroad Drilling
Page 57 and 58: Chinese Investments Abroad DFS conf
Page 59 and 60: Chinese Investments Abroad Sundance
Page 61 and 62: Chinese Investments Abroad Scope of
Page 64 and 65: Education Training Money Mining Int
Page 66: Supplier News New Caterpillar plant
Page 69 and 70: Supplier News Boart Longyear expand
Page 71 and 72: Product News New T-thread system
Page 73 and 74: ADVERTISING INDEX Aden Services 51

MINING WELCOME 欢迎采矿 - The ASIA Miner

Create successful ePaper yourself

Delete template?

Save as template?