Thursday, May 28, 2015

Rio Tinto's Bunder project

The Bunder deposit is located in the Bundelkhand region of Madhya Pradesh, 500km south east of Delhi. Rio Tinto discovered the deposit in 2004 as part of a regional exploration reconnaissance programme which began in 2002. The order of magnitude study in October 2008 indicated that the Bunder deposit was likely to yield 37.4 million tonnes of kimberlite containing about 27.4 million carats of diamonds.
Additional core drilling, sampling and analysis of the results enabled the previous estimate to be revised up to 53.7 million tonnes of kimberlite with an estimated diamond content of 34.2 million carats.

Rio Tinto has constructed a state-of-the-art sample plant to process bulk samples of ore on the project site and help further evaluate the value and grade of the Bunder deposit. This is critical to the development of a world-class diamond mine. The total investment to develop the mine is estimated at least 2,000 crore rupees (US$500 million).
The Bunder project is Rio Tinto's most advanced diamond mining project.

It is the first new diamond mine in India in over 40 years.

The Bunder project includes a cluster of eight lamproite pipes hosted by flat-lying Proterozoic sedimentary rocks. Drilling and sampling has so far focussed on the Atri lamproite, two coalesced pipes with a surface area of 16.6 hectares. The pipe is exposed along its south-western margin but elsewhere is covered by up to 23 metres of colluvium.
The Bunder Mine Plan was prepared and submitted to the Indian Bureau of Mines and was approved in July 2013. The Mining Lease is anticipated to be granted in 2015 with production commencing after a two to three year construction period.

The Bunder Deposit is estimated to be seven times richer than the Panna mine (also located in Madhya Pradesh), with a likely production rate at least 30 times greater. Madhya Pradesh would therefore rank, in terms of volume and value, in the top ten diamond producing regions of the world.
August 2012 - Rio Tinto unveiled the inaugural Bunder diamond jewellry collection comprising diamonds from the sampling from the Bunder project in Madhya Pradesh.

"The Courageous Spirit jewellry collection holds a very special place in Indian diamond history as it has been at least a century since India has mined, designed and manufactured its own diamond jewelry," said Dr Nik Senapati, Managing Director of Rio Tinto India. "The Bunder project, likely to come into commercial production in 2016, presents enormous opportunities not only for the Madhya Pradesh region, but for the broader Indian diamond industry as well, with Rio Tinto presenting a unique opportunity for India to mine, manufacture and market its own diamonds."




Teck Resources Limited - TCK.b.t

Teck Resources Limited - TCK.b.t is a significant producer of copper, the second largest seaborne exporter of steelmaking coal and the third largest producer of zinc concentrate. The Company also produces molybdenum and specialty metals.

Teck has interests in oil sands development assets, 13 mines in Canada, the USA, Chile and Peru as well as one metallurgical complex in Canada.

On May 28, 2015 the company released News

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today it will be implementing temporary shutdowns in the third quarter at its six Canadian steelmaking coal operations in order to align production and inventories with changing coal market conditions.

Each of Teck’s steelmaking coal operations will be temporarily shut down for approximately three weeks in the quarter. Shutdowns will be staggered over the summer months among the operations. Teck will continue to meet all contracted and committed coal sales for its entire suite of products.

Third quarter production will be reduced by approximately 1.5 million tonnes (Mt) to 5.7 Mt, a reduction of 22% for the quarter, with expected sales in the range of 6.0 – 6.5 Mt. Annual coal production is now estimated at 25 – 26 Mt. Additional coal production adjustments will be considered over the course of 2015 as market conditions continue to evolve.

Guidance for unit operating and distribution costs for the year is unchanged. Capitalized stripping is expected to be about $65 million lower than original guidance reflecting lower coal production and reduced stripping costs this year due to lower diesel costs and productivity improvements since the start of the year.

“Rather than push incremental tonnes into an over-supplied market, we are taking a disciplined approach to managing our mine production in line with market conditions,” said Don Lindsay, President and CEO. “We will continue to focus on reducing costs and improving efficiency to ensure our mines are cash positive throughout the cycle and well-positioned when markets improve.”

This measure builds on cost reductions previously undertaken across Teck – which have resulted in $640 million in annualized savings to date – and the margin improvement program for 2015, which is on track to exceed the $100 million target previously announced.


Wednesday, May 27, 2015

New Batmobile rips through Toronto

The new Batmobile has made an appearance on the streets of Toronto.
Filming of "Suicide Squad" on Monday night in Toronto captured Batman's new ride in action as it chased the Joker's purple Lamborghini.

See ----->