Wednesday, April 26, 2017

Diatomite

Chinese mining firm Chuanshan will invest $40 million in exploration and mining of diatomite in Kenya's Baringo County. This will be the second such operation in the Rift Valley.

Diatomite, also known as diatomaceous earth, is the naturally occurring fossilized remains of diatoms. Diatoms are single cell aquatic algae. The properties which make diatomite valuable include low density, high porosity, high surface area, abrasiveness, insulating properties, inertness, absorptive capacity, brightness, and high silica content. Diatomite has a wide variety of uses, and is a component in hundreds of products, or vital to the manufacturing process of thousands more.
The Greeks first used diatomite over 2,000 years ago in pottery and brick. Today diatomite is used for manufacturing paints, toothpaste, plastics, absorbents and many other products.
There are many diatomite deposits throughout the world, but those of high-purity which are commercially viable are rare.

Untreated, pure diatomaceous earth food grade (85%+ pri­marily composed of amorphous silicon dioxide (SiO2) is becoming known for a list of health benefits. It is non-toxic with no known side effects.

Nicknamed the 'grass of the sea' some are calling it mother nature's best kept secret.

Mountain Province Diamonds - MPVD.t

Mountain Province Diamonds - MPVD.t is a Canadian diamond exploration and development company headquartered in Toronto, Ontario.

In joint venture with De Beers, Mountain Province is developing the Gahcho Kué Project, located in Canada's Northwest Territories.





On April 25, 2017 the company released News

Mountain Province Diamonds Inc. today released its production figures for the first quarter ended March 31, 2017, from the Gahcho Kue (GK) diamond mine.

The GK mine declared commercial production on March 1, 2017, having achieved more than 70 per cent of nameplate capacity of 8,333 tonnes per day over the preceding 30-day period. Mining of overburden, waste rock and ore in the 5034 open pit for the three months ended March 31, 2017, was approximately 7.7 million tonnes, with approximately 222,600 tonnes of ore (100-per-cent basis) stockpiled at period-end. For the three months ended March 31, the GK mine treated approximately 492,000 tonnes of ore through the process plant and recovered approximately 867,000 carats on a 100-per-cent basis for an average grade of approximately 1.76 carats per tonne. The company's attributable share of first quarter diamond production was approximately 424,830 carats.

In addition, the company anticipates achieving a realized diamond price for the balance of 2017 of between $70 (U.S.) and $90 (U.S.) per carat.










http://canadastockjournal.blogspot.com/2016/08/mountain-province-diamonds-mpvt.html

Tuesday, April 25, 2017

Debswana starts processing Cut 8 ore

Botswana's Debswana Diamond Company has started processing ore from the $3-billion expansion of its Jwaneng diamond mine, known as Cut 8.
88% of an estimated 500-million tonnes of waste above diamond bearing ore had been stripped away by the end of March. Debswana, jointly owned by Botswana's government and De Beers is expected to produce about 20.5-million carats this year.
Figures by Anglo American, which owns 85% of DeBeers, show that Debswana's production dropped slightly to 5.2-million carats in the first quarter of 2017 compared with the same period in 2016. Cut 8 will extend Jwaneng's life span by seven years to 2024. Jwaneng is the largest producing mine in the world by value. In 2015, it produced more than 11 million carats, with a total value of over $2.3 billion.

Cut-8 will bring the depth of the mine to 850 meters and produce an open pit that will be 2.7 km long and 1.8 km wide. This will put it in the category of a global ‘super-pit’, among the largest in the world for any mining operation.

Barrick Gold Corporation - ABX.t

Barrick Gold Corporation - ABX.t is the world’s largest gold producer, with a portfolio of 27 operating mines and advanced exploration and development projects located across five continents.

Barrick produced 6.12 million ounces of gold in 2015 at AISC of $831 per ounce.
On April 24, 2017 the company released Numbers

•Barrick reported first quarter net earnings attributable to equity holders ("net earnings") of $679 million ($0.58 per share), and adjusted net earnings1 of $162 million ($0.14 per share).
•The Company reported first quarter revenues of $1.99 billion, net cash provided by operating activities ("operating cash flow") of $495 million, and free cash flow2 of $161 million.
•Gold production in the first quarter was 1.31 million ounces, at a cost of sales applicable to gold of $833 per ounce, and all-in sustaining costs3 of $772 per ounce.
•We announced a Strategic Cooperation Agreement with Shandong Gold, including the sale of 50 percent of Veladero for $960 million. As a next step, both companies will jointly explore the potential development of Pascua-Lama, and will evaluate additional investment opportunities.
•We further optimized our portfolio through the creation of a new joint venture with Goldcorp at the Cerro Casale project.
•Total debt was reduced by $178 million in the first quarter.
•Full-year gold production is now expected to be 5.3-5.6 million ounces, down from our previous range of 5.6-5.9 million ounces. Approximately two-thirds of this reduction is attributable to the anticipated sale of 50 percent of Veladero. Cost of sales and all-in sustaining cost guidance for the full year remains unchanged.















http://canadastockjournal.blogspot.com/2014/11/barrick-gold-corporation-abxt.html