USGS releases first study to assess global earthquake risk to mineral supplies
Earthquakes have the potential to substantially affect mining operations, leading to supply chain disruptions that adversely affect the global economy.
A Chinese fund has contributed $3 million in financing to explorations for copper, gold, zinc and silver at two project sites in Alaska.
The Anchorage Daily News reports that Sino-Canada Natural Resources Fund, which represents the interests of a group of Chinese investors, is providing the $3 million investment to Heatherdale Resources (TSX.V:HTR) with a two year term and an annual interest rate of 8%, as well as the option to convert the investment into common shares further down the road.
Vancouver-based Heatherdale Resources has interests in two Alaskan mining projects – a 100% stake in the advanced exploration stage Niblack project, whose mineral resources are believed to contain copper, gold, zinc and silver, and a 60% stake in the mid-stage Delta project, which is exploring for copper, gold, silver and lead.
Under the funding agreement Sino-Canada may nominate one person to Heatherdale’s technical advisory committee at present as well as nominate one person for appointment as a Heatherdale director contingent upon fulfilling “certain share ownership or voting conditions.”
The investment comes just as Canadian mining juniors face tight capital markets at home while cash-flush Chinese companies splurge on resource and mining assets abroad.
In just the past week China’s CNOOC obtained approval for the $15.1 billion takeover of energy giant Nexen – the largest ever overseas acquisition by a Chinese company, while PetroChina obtained a minority stake in a shale gas development in Alberta for $1.2 billion
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robert
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