In the recent quarter, Molycorp Inc. initiated the start-up of its new mill, flotation separator, and paste tailings facility at its Mountain Pass rare-earths property in eastern California. The company also announced a 36% expansion of its proven and probable rare-earth reserves at Mountain Pass, confirming 18.4 million short tons of rare-earth ore at...
Mercator Minerals Ltd. reported 1Q12 revenues of $65.2 million, an increase of 17% over 1Q11, while gross profit was $17.9 million in the recent period, an increase of 12% over the comparable three months of 2011. Cash flow from operations (before changes in non-cash working capital items) was $7.1 million in 1Q12, compared to...
Ucore Rare Metals Inc. has received an underground mine-design study of the Bokan heavy-rare-earth project on Prince of Wales Island in Alaska, it reported this morning. The design was completed by Stantec, of Tempe, Ariz. The objective of the study was to recommend the most advantageous mining methodology from a range of alternatives and estimate...
The revised mine plan for the Hycroft mine in Nevada supports a 19-year operating life and exploits the current mineral reserve of 12.7 million ounces of gold and 481.9 million ounces of silver (1.1 billion tons grading 0.011 opt Au and 0.42 opt Ag), Allied Nevada Gold Corp. reported this morning. The following operating...
Augusta Resource Corp. said this morning that its Rosemont copper/moly/silver mine south of Tucson has been issued its Aquifer Protection Permit by the Arizona Department of Environmental Quality. The APP establishes the operating standards and controls to ensure the protection of ground water and is effective for the life of the mine. Rosemont has now...
Proven and probable reserves of rare-earth minerals at its Mountain Pass, California facility have increased by 36%, according to a new independent estimate, Molycorp Inc. reported this morning. The updated estimate, based on the SEC’s rigorous “Industry Guide 7″ definition of proven and probable mineral reserves, expands Molycorp’s reserves to 18.4 million tons of...
Commercial production is now under way at its Summit silver/gold mine in southwest New Mexico, Santa Fe Gold Corp. reported this morning. Initial development of the mine has been successfully completed, mechanized mining of the ore body has begun and production levels are steadily increasing, the company said. Beginning with the June 2012 quarter,...
International Tower Hill Mines Ltd. said this morning that the State of Alaska has reached a landmark settlement with major oil producers BP PLC, Exxon Mobil Corp. and ConocoPhillips for the study of a major liquefied natural gas pipeline at the Point Thompson gas field on the North Slope of Alaska’s northernmost coast. A...
United Silver Corp. has started on the company’s phased, property-wide, $23 million, four-year plan to further explore and develop the Crescent silver mine resource in Idaho’s Silver Valley, it reported this morning. The objectives of the plan are to further explore the existing silver resource, develop the existing resource and explore for additional resources...
