Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Latest issue of International Mining Project News available (September 11): There has been an influx of iron ore news in the last fortnight with this issue covering reports from 15 prospective projects. Gindalbie Metals has received final state environmental approval for its Karara project in Western Australia; FerrAus has executed two binding agreements with China Railway Materials for development of its East Pilbara iron ore projects and Northern Iron is undertaking a A$61 million equity raising for its Sydvaranger project in northern Norway. There is still some huge news in other metals though. Terrane Metals Corp has received the Mines Act Permit for its Mt Milligan copper-gold project in Canada; Paladin Energy has outlined its expansion plans at the Langer Heinrich mine in Namibia; Cougar Energy has taken part in a capital raising and share placement to develop its Kingaroy underground coal gasification (UCG) project in Queensland; and Barrick Gold has signed an agreement with Silver Wheaton Corp to sell 25% of the life-of-mine silver production from its Pascua-Lama project on the border between Chile and Argentina (see IM June 2009, pp 52-53 for more info). (more…)
