New Zealand billionaires the Todd family have struck a deal with the WA government to develop a new $5 billion-plus Pilbara iron ore project.

The Todd Corporation says construction of a 50 million tonne a year 162km railway and port between Karratha and Port Hedland that would create 3300 jobs during construction and 910 once operational.

The success of the project is dependent on Todd Corp striking a deal with ASX-listed Flinders Mines, which owns and wants to develop the Flinders Pilbara iron ore project.

Todd Corporation is Flinders' largest shareholder with a 53 per cent stake.
Todd group subsidiary BBI Group's chairman Jon Young said there was a lot of "stranded" iron ore deposits in the region that could be developed through the train line.
"The growth environment is not spectacular, it is nice and steady ... there's another 500 million (in China) going to be
urbanised in the next 20 years, the demands are incredible," he told reporters.

Construction on the rail could begin in 2018.

WA Premier Colin Barnett said the state contributed to about half of the international trade in iron ore and that meant there would always be new projects and new mines needed to replace and maintain existing rates."To all those people willing to write off the resources sector in Western Australia, you're wrong," he said.

BHP Billiton has reported a record amount of iron ore production across its mines in Western Australia for the second half of 2016 due to the ramp up of its Jimblebar mine in the Pilbara.

The world's biggest miner produced 136 million tonnes of iron ore at its Western Australian iron ore mines for the six months to the end of December, up 4 per cent from the same time a year ago.

Iron ore production rose 9 per cent over the December quarter to 70 million tonnes. BHP said it received an average price of $US55 a tonne over the December half-year, up 28 per cent from the same time in 2015.
Iron ore prices doubled in 2016 amid a jump in Chinese demand, but new supply coming onto the market this year is expected to hurt prices.

The result keeps the miner on track to meet its production forecast for the year of 265 to 275 million tonnes of iron ore. 
It also maintained its production forecast for petroleum and coal.

Mining and processing at the Samarco mine in Brazil remains suspended following a catastrophic dam collapse in late-2015. 
BHP Billiton chief executive Andrew Mackenzie said a rise in iron ore prices had helped the company's bottom line.

The company, a subsidiary of mining giant LKAB, will from February start shipping MagnaDence to a pipe coating facility in Altamira, Mexico. The iron ore product will form a key component in the 800 km long Sur De Texas-Tuxpan natural gas pipeline, a piece of infrastructure which is to run across the Mexican-U.S border.

The deal between LKAB Minerals and company Shawcor Ltd was signed this week, the Swedish company informs.
From February, shiploads of the Swedish ore will on regular basis head from the company port of Narvik, Norway, and towards Mexico.

The value of the contract is not disclosed, but is substantial, LKAB Minerals CEO Leif Boström comments. “There are only a few of these large scale projects available on a yearly basis, for LKAB Minerals it proves that our focus on finding non-steel applications for magnetite is successful and value adding in a number of industries», he says in a press release.

MagnaDense is an iron ore product produced from the mineral magnetite. It is used extensively as material for pipe coating in several major gas pipeline projects.
LKAB is based in the Arctic Swedish region of Norrbotten. The company runs major mining and processing facilities in the area around the town of Kiruna.

Nucor Corporation announced that it has acquired the assets of Omega Joist, a subsidiary of Samuel, Son & Co., Limited. Omega Joist produces open web steel joists at its manufacturing facility located in Nisku, Alberta, and also has sales offices in western British Columbia and southern Alberta.

"We are excited to grow our joist and decking business in Canada with the acquisition of Omega Joist. This acquisition complements the Vulcraft facility we are currently constructing in Ancaster, Ontario," said Ray Napolitan, Executive Vice President, Fabricated Construction Products. "We are committed to growing our joist and deck business in Canada and this acquisition is another important step in our growth strategy."

Omega Joist has 43 employees, will operate as Vulcraft-Omega and will become part of Nucor's eleven other joist and deck production facilities. Nucor plans to add additional products to Vulcraft-Omega's product portfolio, including steel deck.

Vulcraft-Omega is Nucor's fifth facility in Alberta, joining three Harris Rebar facilities and one Fisher & Ludlow facility. Vulcraft-Omega teammates join Nucor's nearly 2000 teammates in Canada.

Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Rio Tinto subsidiary Iron Ore Company of Canada (IOC) has announced its plans to proceed with the Wabush 3 project after securing approval for a C$79m ($60.33m) investment.

IOC plans to develop the new pit Wabush 3, which is located within its existing mine operations. This will extend the life of the mine, increase production of quality grade iron concentrates and pellets, and decrease operating costs.

IOC chief executive officer and president Clayton Walker said: “This value-driven investment will deliver significant benefits for our business, employees and surrounding communities in Labrador West and Sept Iles for many years to come, by increasing the life of the mine and allowing us to offer continued employment opportunities.

“The Wabush 3 pit is IOC’s best option to access low-cost, quality ore and provides a compelling opportunity to make our business more competitive by reducing operating costs during a period of increasing iron ore price volatility.


“I would like to thank IOC employees, unions and members of the community for the ongoing support they have  emonstrated, which helps to build trust in our ability to create a viable business for future generations.”


The company has secured all necessary regulatory and environmental approvals."This provides a compelling opportunity to make our business more competitive by reducing operating costs during a period of increasing iron ore price volatility." It intends to start construction in the second quarter of this year.


The mine is expected to produce first ore in the second half of the next year, which will increase IOC’s annual capacity from the exisiting 18 million tonnes to 23 million tonnes. Wabush 3 will be integrated into the IOC’s overall Labrador City Operations. The mine will be developed using the company’s existing maintenance, ore delivery, processing and tailings management facilities in the region.



The New Acland mine is an open-cut, thermal coal mine located near the Acland town, 14km north-west of Oakey Town, Queensland, Australia.

Owned and operated by New Acland Coal (NAC), a subsidiary of Australian mining company New Hope Group, the mine has been in production since 2002.

As the mine reserve was forecast to be depleted by 2017, NAC proposed the New Acland Coal Mine Stage-3 project expansion to extend operation and increase production capacity.

The plan was revised in 2012 and the same received approval from the federal government's Environment Protection and Biodiversity Conservation Act (EPBC) in January 2017. The project awaits approval of the mining leases, environmental authority and associated water licence before the company can consider making the final investment decision.

Once approved, the project is expected to extend the mine's operation by approximately 12 years, while also increasing the mine's thermal coal production capacity to 7.5 million tonnes a year (Mtpa) from the current production levels of 4.8Mtpa.

The mine is estimated to produce 80.4 million tonnes (Mt) of coal over the life of the mine, if the project proceeds.

New Acland Coal Mine Stage-3 details

The plan to expand the New Acland mine operations was first proposed in 2007. NAC, however, revised the project in 2012 to address the concerns raised by the Queensland government and local community about the potential impact of the project.

The revised project envisages the progressive development of two new resource areas within the new mining lease area, including Manning Vale and Willeroo, and three new pits, namely Manning Vale West, Manning Vale East and Willeroo.

"The mine is estimated to produce 80.4 million tonnes (Mt) of coal over the life of the mine." 
The revised project has a considerably reduced disturbance footprint (approximately 63% less) and ensures that the mining operations will be located at least 10km away from Oakey Town.

Other changes include a relocation of the train loading facility from Jondaryan to a remote site closer to the mine and as previously proposed, the train loading arrangement will include a veneering system that seals the exposed coal at the top of each loaded wagon to reduce the potential for dust emissions during transport. This is a practice New Hope initiated and have been doing since 2013.

The estimated capital cost of the revised project is approximately $896m, with operating costs of approximately $450m a year. The estimated expenditure is approximately $6.6bn over the life of the revised project.

New Acland coal mine geology and mineralisation

The two resource areas to be developed as part of the revised project are located within the mineral development licence (MDL) 244, which is located in the north-west of the Moreton Basin over the northerly trending Kumbarilla Ridge, which separates the Moreton and Surat Basins.

While the Surat basin comprises early-Jurassic to early-Cretaceous age non-marine and marine sediments, the Moreton basin is made up of non-marine sediments dating from the late-Triassic.

The Walloon coal measures present in both the basins hold the economic coal-bearing sediments. The main coal bearing unit in MLD 244 is referred to by NAC as the Acland-Sabine Sequence.


The revised Project's JORC-classified reserves within four mining licenses, including MDL 244, for run-of-mine (RoM) tonnes totals 441Mt.

Mining and processing at expanded New Acland coal mine

The truck and excavator/loader method, which has been in use at the open-pit mine since the beginning of its operations, will continue to be used.

The existing coal handling and preparation plant (CHPP) will be upgraded to account for the additional RoM coal throughput and a new CHPP Module 3, with a processing capacity of 750t/h of RoM coal, will be constructed.

CHPP Module 3 will be housed in a building, which will have a similar layout as that of the existing CHPP Modules 1 and 2, but will be widened to accommodate a second deslime screen. CHPP Module 3 will also have a larger dense medium cyclone (DMC) reject screen compared to the other modules. An overhead crane will provide access to the DMC.

Major infrastructure developments for the expansion project

NAC revised the access and now propose to construct the Northern Mine Industrial Area Access Road at a new intersection location on Pechey-Maclagan Road west of Cherrys Road. This new road will enter into the new Mine Industrial Area (MIA) and will be designed to the appropriate standards to transport light vehicles into the revised Project site. The existing Jondaryan-Muldu road will be used as an internal haul road.

The existing 33kV mine and district 11kV power lines will be relocated and rebuilt. The current power requirement of the mine is 5MW/5.7MVA a year, which is expected to increase to 12.6MVA a year based on 7.5Mtpa full production.

Water for the Project will be sourced from predominantly onsite storages. NAC will purchase up to 5,500ML of Class A+ recycled water a year from Wetalla Wastewater Reclamation facility (WWRF), through a long-term contract to the year 2055. Additionally, NAC may also receive 150ML of recycled water a year from the Oakey Reverse Osmosis Treatment Plant (ROTP).

Treated in at on-site RO treatment plant, potable water is sourced from groundwater bores present on the site.

The Jondaryan rail load-out facility (JRLF) will also be relocated from the current location, to a new location in the mining lease area. A new 8km rail spur line and balloon loop, a new train load out facility, and a material handling facility will be constructed.

Benefits of New Acland mine expansion

The expansion will create up to 260 construction jobs and increase the number of operational jobs to approximately 410. NAC will encourage the use of local suppliers and contractors during construction and operations.

DDA Trading Bvba is pleased to announce the second sale of Namibian Marine Rough Diamonds in Antwerp. They will be offering approx. 8,900cts of Full ROM, Original Marine Goods of Gem quality.
The goods are from the underwater concessions of Diamond Fields Namibia ML 111. Viewings will take place by appointment only in Antwerp at DDA Trading’s office in the Antwerp Diamond Bank, Pelikaanstraat 54, Floor 6, 2018 Antwerp from Monday 20 to Monday 27 February with the sale closing on Tuesday the 28th of February. Find more information about apointments

DDA Trading website.

DDA Trading organised the IMDH Tender for goods from Namibia on the 22nd of November 2016. It was the 1st IMDH sale through the DDA Trading platform. Goods were presented in a cross market sale over Antwerp and Dubai markets. All of the 40 lots offered were sold in a one bid tender.

OAO Raspadskaya Coal Company, uniting a group of enterprises situated in the Kemerovo region of the Russian Federation, has released the results of its coal businesses for H1 2006.
During the first 6 months of 2006 coal output at all enterprises of OAO Raspadskaya Coal Company totaled 5,135 thousand tons, representing an increase of 5.6% y-o-y. Directly, Raspadskaya coalmine extracted 4,501 thousand tons of coal, including 1,056 thousand tons from its deep mining complex (ZAO Razrez Raspadsky). Output at OAO MUK-96 exceeded 633 thousand tons.

The Raspadskaya enrichment plant processed 3,433 thousand tons of raw coal, creating 2,817 thousand tons of coal concentrate in the first half of 2006. “In developing the production programme, we efficiently organized the operation of all of our coal mines in such a way as to avoid reinstallations and movement from coal bed to coal bed,” said Gennady Kozovoi, General Director of ZAO Raspadskaya Coal Company, which is an asset management company for OAO.

“The launch of our own plant in the summer of 2005 made it possible to control the quality of the end product, and to set up the enrichment process in the direct vicinity of the extraction enterprises, and thus cutting back on transport expenses,” Mr. Kozovoi added. In H1 2006 excavation teams of the group created 20,066 meters of shafts, representing an increase of 5.8% over the same period in 2005. This growth was a result of the successful work of OAO Raspadskaya and OOO Raspadskaya Joy.

“The impressive results achieved by our excavation teams made it possible to assimilate new extraction technologies using combine loading conveyors,” noted Mr. Kozovoi. Cargo turnover of the loading and transportation enterprise OAO TPTU in the first half of 2006 amounted to 80,373 thousand tons/km. OOO Montazhnik Raspadskoy, an enterprise that supplies the Company with metal mesh lagging for mining work, manufactured 222,399 sqm of this material.

About the Company

OAO Raspadskaya Coal Company incorporates a group of facilities in the Kemerovo regional coal production complex– Raspadskaya underground coalmine, ZAO Raspadskaya Coke, OAO MUK-96, ZAO Razrez Raspadsky, – as well as an enrichment plant and enterprises related to transport and production infrastructure. The Company is one of the largest players on the Russian coking coal market. Coal products of Raspadskaya Coal Company are distributed to numerous metallurgical and coke-chemical plants in Russia and abroad.

For more information contact:

ZAO (38475) 4 65 30
Galina Kovalchuk

(495) 147 15 16
Alexander Andreev

The PBN Company

(495) 775 00 77
Artem Dovlatov

ENERGA Finance AB – the Baa1/BBB rated finance subsidiary of ENERGA S.A., the Polish state-owned utility – started a roadshow yesterday to convince investors that the bond issuance with which it is planning to raise a minimum of EUR 250 million has nothing to do with a 1000 MW coal-fired power plant in Poland that the parent company is developing with another coal-heavy state-owned utility, ENEA S.A. Two banks – JPMorgan Chase and BNP Paribas – are arranging the deal, putting their credibility up for sale.

Rainforest Action Network, Foundation “Development YES - Open-Pit Mines NO”, and other civil society organizations consider deals like this a climate test for how seriously international financial institutions take their own policies as well as the Paris climate agreement. Less than one year ago, JPMorgan Chase committed that the bank “will not provide project financing or other forms of asset-specific financing where the proceeds will be used to develop a new coal-fired power plant located in a high income OECD country”^1 -- including Poland.^2 Yet JPMorgan Chase has now signed up to underwrite bonds for a wholly owned subsidiary of Energy SA, whose electricity generation mix is 68% coal, and is searching for ways to finance its recently revitalized plans for the Ostrołęka C 1000 MW coal power plant, which will cost EUR 1.5 billion.

ENERGA aims to raise capital by launching eurobonds through its wholly-owned, Sweden-registered subsidiary whose sole purpose is to secure corporate finance for the mother company with no strings attached. The purpose of the bonds is that the money raised will be for the utility’s “general corporate purposes” -- and it shouldn’t be difficult for JPMorgan Chase to see what that means when this one planned coal plant would double ENERGA S.A.’s coal generation capacity.

Poland is the last country in the European Union where new coal-fired power plants are still planned. It is also the country with an energy system most heavily controlled by the state. As one of the four state-controlled coal heavy energy utilities, ENERGA
S.A. is also in talks with the European Investment Bank about financing a hybrid bond launch worth EUR 250 million that would also enable ENERGA to proceed with the Ostrołęka C project.^4 ENERGA S.A. first launched eurobonds in March 2013, when BNP Paribas, Bank of America Merrill Lynch, and HSBC arranged for the company to obtain EUR 500 million.

Back in 2012, ENERGA had shelved its power plant construction plans, but in November 2015 the plans for the Ostrołęka coal plant were restarted. According to the energy consulting company Ecofys, any new coal-fired power plant is inconsistent with a 2°C scenario,^6 and yet there are currently more than 2,000 coal fired power plants under preparation to be built in the world. If all were to be built, according to Climate Action Tracker, coal power emissions in 2030 would be 400% higher than what is consistent with limiting warming to under 2°C.^7

Kuba Gogolewski, Finance Campaigner at Foundation “Development YES - Open-Pit Mines NO”, said:

"By supporting ENERGA's bond issue while it is building a coal plant that would more than double its coal generation capacity, and by helping to keep afloat the country’s collapsing mining sector, JPMorgan and BNP Paribas clearly show that profit comes first and that their climate commitments only go skin deep. Polish communities aspire to a healthier and cleaner future and ENERGA Finance will fund the opposite. Investors buying ENERGA Finance bonds have to know that they will take part of the responsibility for stalling the diversification of the Polish energy system away from coal and keeping Polish citizens away from clean air to breathe. We call on all investors to stay away from ENERGA Finance eurobond launch, and on JPMorgan and BNP Paribas to cut their ties with ENERGA until it drops its coal plans.”

Jason Opeña Disterhoft, Climate and Energy Senior Campaigner, Rainforest Action Network, said:

“The ENERGA bond issue is a test of JPMorgan Chase’s seriousness on climate change. As we approach the one-year anniversary of its new coal policy, the bank is looking to exploit a loophole to finance a new coal-fired power plant in an OECD country that is already locked into coal dependence. Now it has to choose: does it care more about coal or the climate?”

For more information, contact:

Kuba Gogolewski, Private Finance Campaigner, Fundacja “Rozwój TAK – Odkrywki NIE”
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: + 48 661 862 611

Jason Disterhoft,
Climate and Energy Senior Campaigner, Rainforest Action Network

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (415) 398-4404

Halifax, Nova Scotia – Morien Resources Corp. , is pleased to announce that it has received notice from Kameron Collieries ULC , the owner/operator of the Donkin Coal Mine in Cape Breton, Nova Scotia, that production at Donkin has commenced.

Initial production at Donkin is from a single continuous miner, with the addition of a second continuous miner scheduled for later in 2017. A total of 64 full-time employees/contractors are currently working onsite at Donkin, and Kameron is forecasting a total of 135 full-time workers onsite at full production. Construction of a coal handling, preparation and processing plant is anticipated to begin during the first half of 2017. In 2018, two, dual coal sections are anticipated to be operational; a typical coal section consists of two continuous miners, six battery haulers, one feeder breaker, and two roof bolters.

Kameron has indicated that it expects the washed coal quality of Donkin to be a high fluidity, high volatile metallurgical coal, with 3.0% ash, 1.65% sulphur, 13,500+ BTU/lb, 0.88% RO, +25,000 ddpm fluidity, and 120-150 dilation. Kameron has cited the following as key project strengths at Donkin:

• Coal quality
low ash, high energy thermal coal;
high quality metallurgical coal (low ash, high vitrinite content, high fluidity, high crucible swell number (“CSN”));
• Low mining costs – 8.1 raw tonnes per linear foot, 6.9 clean tonnes per linear foot;
• Short truck haul to local power stations and deep water ports; and
• Substantial Resource – 483 million tonnes; 30 year expected project life (2 continuous miner sections)
• The Donkin Coal Technical Report, dated November 2012, found on Morien’s SEDAR profile, supports the above technical disclosures.

Morien Royalty and Milestone Payments

On February 27, 2015, Morien sold its 25% working interest in Donkin to Kameron for aggregate cash consideration of $5.5 million (three payments, see below) and a gross production royalty (see below).
Morien owns a gross production royalty of 2% on the first 500,000 tonnes of coal sales per calendar quarter (excluding the initial 10,000 tonnes of coal produced and sold from Donkin) and 4% on any coal sales from quarterly tonnage above 500,000 tonnes (“Royalty”). The Royalty is payable to Morien on a quarterly basis over the anticipated 30 plus year mine life.

Production is expected to rise to 2.75 million sales tonnes per year (the current permitted production rate) over a three to four year period. Using a range of coal pricing, annual royalty payments could be in the order of $4.0 million to $8.0 million at full production. These values are only estimates based on assumptions that Morien management consider to be reasonable, as approved on February 28, 2017. Actual results and royalties received, if any, and subject primarily to production rates and coal pricing, may vary from those estimated by Morien.

Morien received a $2 million milestone payment on closing of the transaction with Kameron (February 27, 2015) and received a second milestone payment of $2 million on the second anniversary of the closing (February 27, 2017; click here for Morien news release). Morien is entitled to receive an additional $1.5 million on the earlier of first commercial sale of export coal from Donkin and the third anniversary of the closing of the transaction (February 27, 2018).

About Morien

Morien is a Canadian mining exploration and development company, focused on unique mineral industry opportunities in North America with two long-life royalty assets and a strong cash position. Morien has 52,986,614 issued and outstanding common shares and a fully diluted position of 58,189,114. Further information is available at
For more information, please c


John P.A. Budreski, President and CEO
Phone: (416) 930-0914

Dawson Brisco, P.Geo, VP Corporate Development

Phone: (902) 466-7255
This email address is being protected from spambots. You need JavaScript enabled to view it.

Page 10 of 63

Subscribe To Our Newsletter

Security Q:How many eyes has a typical person? (ex: 1)