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.
July 12, 2008
Workers were on strike at the mine last week as part of a nationwide mining walkout, and say they have unresolved complaints the Chinese company should address.
Julio Ortiz, a union leader, told Reuters the strike would start Monday morning at 8:00 local time (1300 GMT).
“It is for solution of the miners’ demands,” Ortiz said about the walkout, which is over benefits and wages.
Miners at Shougang lifted their strike last week after the government declared the nationwide walkout illegal, paving the way for companies to fire miners who did not return to work.
Dozens of protests have been held this year as Peruvians demand a bigger slice of the country’s six-year economic boom. Peru’s economy is one of the fastest growing in the world, though the poverty rate remains near 40 percent.
June 21, 2008
June 21st (Steel Guru) – Interfax China quoted China’s Ministry of Commerce in an announcement said that Shougang Hierro Peru SAA, a Peru based Shougang subsidiary will begin development of new mining zones at Marcona in Peru to double its annual iron ore production which will require investment of USD 1 billion.
According to the released, Shougang Hierro plans to construct an ore processing plant and a 3 million tonne pellet plant at the mine which would in turn double its annual capacity of iron ore.
Mr Wu Bin president of Shougang Hierro said the company intends to first increase iron ore production by 8 million tonnes and then reach final annual production capacity of 20 million tonnes within four years.
Shougang officials were not available for comment when reached by Interfax today.
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.
June 9th (NewsArticle) – Cuervo Resources Inc. (IRON – CNQ, CRR – FWB), (“Cuervo” or the “Company”) reports the results from eleven new holes on its Cerro Ccopane iron ore project in southern Peru. These latest results have a weighted average iron content of 51.85% Fe over 752.05 m of sampling and include intersections of 51.70% Fe over 361.30 m in ODH – 70 (including 58.64% Fe over 170.60 m) and 53.11% Fe over 108.70 m in ODH – 72. These results, along with those from the 69 holes previously reported on, provide further confirmation of the consistent high values of iron mineralization in the Orcopura zone and extend the known strike length of mineralization from 750 m to at least 900 m. The Orcopura zone is first of the five zones identified on the wholly owned Cerro Ccopane property to be drilled. An NI 43-101-compliant resource study on the Orcopura zone of mineralization is expected to be completed this month.
Three diamond drills are operating on the property; two drills are completing the current program at Orcopura while the third has commenced drilling on the Huillque zone. Previous results were announced in press releases dated October 22nd, October 30th, November 1st, November 15th and December 6th 2007 and January 15th, February 5th , February 12th, March 18th and May 14th, 2008 and included intersections of up to 57.31% Fe over 131.25 m (ODH – 01) and 41.29% Fe over 356.50 m (ODH – 33).
June 2, 2008
June 1st (WA Business News) – Strike Resources Ltd has exercised its Options to purchase a 38.5 per cent interest in Peruvian company Apurimac Ferrum S.A. for a total cash sum of over $36.2 million ($US34.5 million).
AF is the 100 per cent owner of the Cuzco and Apurimac iron ore projects in Peru.
From a pre-existing 12.5 per cent direct interest and a 17.15 per cent indirect interest in AF, Strike has now taken its total interest in AF to 68.15 pre cent.
In relation to this matter, it has come to Strike’s attention from D&C Group S.A.C, a shareholder of AF, that it is taking steps to suspend, the effects of the AF Shareholders Agreement as to Strike´s right to exercise the Options.
Based on clear and unequivocal advice from its Peruvian counsel, Strike believes that there is no legal basis for D&C Group’s claim.
Strike regards this action by D&C Group as a commercially opportunistic claim, designed
simply to secure a windfall gain, arising as a consequence of the increase in value of AF as a result of Strike’s good management of AF’s Peruvian iron ore projects.