International news within the industry of mining and metal, May, 22 2019
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Canadian miner eyes $72M investment in gold project

Photo: Pure Gold
Photo: Pure Gold
Published by
Jaroslaw Adamowski - 13 Feb 2019

To develop gold project Canada’s Pure Gold has unveiled the re-sults of its feasibility study for the construction of a gold mine in the Red Lake mining district of Canada’s Ontario.

 

Under the Madsen gold project, Pure Gold aims to develop a 800 tonne per day underground mining operation which is expected to generate a peak annual production of 125,000 oz, the company said in a statement. The project requires an initial investment of C$95 mil-lion (US$72 million).

 

“The completed study outlines a long life high margin mine, with low initial capital requirements and a fast timeline to production,” said Da-rin Labrenz, the president and chief executive of Pure Gold. “With the completion of the feasibility study being one of the last de-risking steps, we look forward to rapidly advancing Madsen-Red Lake to be-come Canada’s next gold mine.”

Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat
Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat

Chinese control half of the Congo's cobalt