August 7, 2008
August 7th (Steel Guru) – BNamericas reported that Australia’s Strike Resources along with Apurímac Ferrum and two other Peruvian partners are planning to launch a 20 million tonnes per annum iron ore mine in Peru in mid 2012.
A recent pre feasibility study on the project in south central Peru’s Apurímac department laid out a USD 2.6 billion CAPEX, 15 year mine life and 20 million tonnes per annum production, making it the largest iron ore mine in Peru.
But before a positive final feasibility study can be carried out for the mine, it must increase the roughly 172 million tonnes of inferred resources grading 62.3% iron ore to at least 300 million tonnes and upgrade the category of mineralization.
Mr Federico Schwalb GM of Apurímac Ferrum said that the study contemplates construction of an open pit, processing plant, a port and a roughly 360 kilometers long pipeline to transport the product from the mine to the port. He added that the companies involved are also considering transporting the product by train.
In addition, the project’s partners are involved in a dispute concerning their respective stakes in the property, but which does not impact Apurímac Ferrum and also is not obstructing the advance of the project.
Strike Resources is also involved with Apurímac Ferrum in a project in Cuzco department, which is at a conceptual stage, although exploration is being carried out. Presently Shougang Hierro Perú, which operates in Ica department, is the country’s only iron ore producer. Shougang sold 7.71 million tonnes of iron ore in 2007 and is planning to double capacity to 16 million tonnes per annum by mid 2010.
July 24, 2008
The strike had started nine days ago at the mine, owned by Shougang of China, and it was the latest in a string of walkouts workers have held this year at mines across Peru to demand a bigger share of surging corporate profits.
“The strike has ended,” said Raul Vera, the mine’s general manager. Union officials said the Labor Ministry asked workers to end the strike at the mine, which produced 5.1 million tons of iron ore last year.
Union leaders at several mines have said companies have threatened to fire workers who had participated in a nationwide mining strike this month.
June 17th (Living in Peru) – Shougang Hierro Peru agreed Monday to start the project of its iron mine new zone in Marcona (Ica), which will demand an investment of around 1 billion dollars.
In the board of directors session carried out today the company approved the development of new mines, the implementation of infrastructure that includes a new benefit plant and a pellet plant.
The project aims to obtain an increase in the annual production capacity of eight million tons. Last year, the company production totaled seven million 711,000 tons of mineral.
Shougang Hierro Peru is a company of iron ore that belongs to the Chinese group Shougang from 1993.
Its mining center of metallurgical operations is located on the Peruvian coast, to 530 kilometers ( Lima’s south), in the district of San Juan de Marcona, Nazca province (Ica).
Shougang’s production obtained in Peru is mainly sent to the Chinese market.
Cardero Receives Drill Permit for Pampa de Pongo Project; 43-101 Inferred Resource 953Mt @ 44.7% Iron
May 28, 2008
May 28 (CNN Money) – Cardero Resource Corp. (“Cardero” or the “Company”) (TSX: CDU)(AMEX: CDY)(FRANKFURT: CR5) is pleased to announce that a drill permit has been received for its Pampa de Pongo project, Marcona Iron District, southern coastal Peru. The Company is in discussions with diamond drilling contractors and will begin drilling at the earliest opportunity. The drill program will focus, initially, on testing the very significant, high priority, newly identified magnetic anomaly with the aim of considerably increasing the present 953Mt inferred resource (NR08-10). The southern edge of the anomaly was previously tested by Rio Tinto drillhole PPD004, which intersected 282 metres @ 31.3% iron, including 191 metres of massive magnetite, where composite grades range from 43.57% to 48.52% iron.
The Company is also pleased to provide an update on the planned commercial-scale metallurgical test work (see NR08-13). A 560 kilogram sample has been collected and delivered to Natural Resources Research Institute of the University of Minnesota at Duluth, Minnesota (NRRI), one of the world’s leading iron ore metallurgical testing facilities. Testing is expected to be completed within 6-8 weeks.
Cardero has received a drill permit for 20 drillholes at the Pampa de Pongo project. The drill program is planned to assess the project’s considerable exploration potential in addition to resource definition drilling for the current mining prefeasibility study underway by SRK Consulting Engineers and Scientists (SRK). In tandem with this, the Company is also initiating a significant environmental monitoring program to ensure a smooth transition to the next phase of drill permitting.
Planned Exploration Drilling
Cardero is planning to test the new magnetic anomaly (East Zone) following completion of the interpretation of ground magnetic data collected in March 2008 (NR08-10).
Previous drilling of 3D geophysical models in 2004 resulted in an excellent correlation between the dimensions of the model and ore-grade mineralization (To view Figure 1 & 2, please click on the following link: http://media3.marketwire.com/docs/Figure1_2_CDU.pdf). It is anticipated that similar positive results will be achieved during the forthcoming drill program.
The new magnetic anomaly has previously been tested by drillhole PPD-004, which intersected 191 metres of massive magnetite mineralization on the southern edge of the anomaly (Figure 2). The Company believes that this considerably decreases the technical risk and increases confidence that the high priority anomaly represents a significant body of massive magnetite mineralization.
Planned Definition Drilling
The current NI 43-101 compliant inferred resource for the Pampa de Pongo deposit is 953Mt @ 44.7% iron and 0.12% copper. Moving forward from the current SRK scoping study, the Company is proposing to undertake 30,000 metres of definition drilling with the intent of upgrading the current inferred resources to indicated and measured status.
Cardero is moving quickly to complete pilot-scale metallurgical test work (which is commercially scalable) for inclusion in the SRK Mine Scoping Study currently underway.
A 560 kilogram sample has been delivered to NRRI, one of the world’s leading iron ore metallurgical testing facilities. NRRI were selected because their personnel bring previous experience beneficiating similar iron ore from the Marcona Mine, located approximately 35 kilometres to the northwest of Pampa de Pongo, and they have vast experience beneficiating and pelletizing iron ores throughout the world, including the magnetic taconites in Michigan and Minnesota in the United States and in Canada. Details of the proposed metallurgical testing were previously outlined in NR08-13. The Company anticipates that full test results should be available in 6-8 weeks.
The inclusion of positive, commercial-scale metallurgical work into the SRK Mine Scoping Study is expected to add significant value to the Pampa de Pongo project.