NEW YORK, March 7, 2017 /PRNewswire/ --
Base metals affect the growth of the utilities, infrastructure, and manufacturing sectors of all the countries across the globe. A report by Transparency Market Research published, indicates that base metal mining includes major industrial non-ferrous metals, such as copper, nickel, lead-zinc, aluminum, and tin. According to this report, global base metal mining market stood at 103.33 million metric tonnes (MMT) in terms of volume in 2014, and is projected to reach 160.19 MMT by 2023 at a CAGR of 5.01% from 2015 to 2023. Darnley Bay Resources ltd. (OTC: DNLYF) (TSX-V: DBL), Ivanhoe Mines Ltd. (OTC: IVPAF), General Moly, Inc. (NYSE: GMO), Nevsun Resources (NYSE: NSU), Trilogy Metals Inc. (NYSE: TMQ)
The role base metals play across a wide range of industries is crucial. According to the report, the base metal mining industry is expected to grow during the forecast period, on account of increasing infrastructure development across the globe. Increasing demand for energy and rising urbanization are some of the important factors affecting the demand for base metals. Base metals are essential for the manufacturing sector.
Darnley Bay Resources ltd. (OTC: DNLYF) (TSX-V: DBL) announced on March 4th that, 'it has received an updated National Instrument, 43-101 resource report on its 100% owned Pine Point lead-zinc project, near Hay River, Northwest Territories. Based on drilling and other work from previous operators, the resources cover 15 of the 60 known historical deposits on the 21,000-hectare property. There has been more than 1.3 million metres of drilling on the Pine Point property by previous operators, including Cominco, Westmin and Tamerlane. The Report was prepared by independent consultants, Albert Daniel Siega, P. Eng., and Paul Gann, P. Geo., and will be filed on SEDAR within 45 days of this news release, to support the mineral resource estimate.'
"This updated resource model will now be turned over to JDS Energy & Mining team, to be incorporated into a revised and expanded mine design in the Preliminary Economic Assesment (PEA) and the PEA will include, at least 11 of these deposits in our mine plan," said Jamie Levy, President and Chief Executive Officer of Darnley Bay.
"The Pine Point Project had past production of 64 million tonnes, grading 7.0% zinc and 3.1% lead, from 52 deposits when it was operated by Cominco from 1964-1987. Albert Daniel Siega, PEng, and Paul Gann, PGeo, qualified persons under NI 43-101, reviewed and approved the scientific and technical information presented in this press release."
Ivanhoe Mines Ltd. (OTCQX: IVPAF) is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula copper discovery on the Central African Copperbelt in the DRC. Earlier in February, the company announced it had received the fourth installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co. Ltd., as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in Kamoa Holding Limited, that holds the interest in the Kamoa-Kakula copper discovery, now being jointly developed by Ivanhoe and Zijin in the Democratic Republic of Congo.
General Moly, Inc. (NYSE: GMO) is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT and the Toronto Stock Exchange under the symbol GMO. The Company's primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. This January, the company announced that effective May 12, 2017 Lee M. Shumway, Chief Financial Officer and Principal Accounting Officer, will depart from the Company. Mr. Shumway informed the Company last week that, effective July 1, 2017 he has accepted the call from The Church of Jesus Christ of Latter-day Saints, to serve as one of the Church's international mission presidents. Through mid-May, Mr. Shumway will continue with the Company in his current roles.
Nevsun Resources (NYSE: NSU) is the 100% owner of the high-grade copper-gold Timok Upper Zone in Serbia and 60% owner of the high-grade copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned with a strong debt-free balance sheet, to grow shareholder value through advancing the Timok project to production. On February 27th, the company revealed new assay results from on-going infill drilling of the Upper Zone at the Company's Timok copper-gold project. Nevsun CEO, Cliff Davis, commented, "The ultra-high-grade assays reported today are part of the in-fill drilling to confirm and upgrade the resource of the Timok Upper Zone mineralization. This drilling is enabling the development of an improved geological and geotechnical model, for the deposit that will be incorporated in our Pre-Feasibility Study. This study is progressing well and is expected to be completed on schedule in September 2017."
Trilogy Metals Inc. (NYSE: TMQ) announced yesterday, that the permitting process is advancing on the Ambler Mining District Industrial Access Project. The Notice of Intent initiating the permitting process under the National Environmental Policy Act, for the preparation of an Environmental Impact Statement on the AMDIAP was published on February 28, 2017 by the Bureau of Land Management in the U.S. Federal Register. The BLM is the lead Federal agency for the EIS. This notice initiates the public scoping process for the EIS with comments due by May 30, 2017.
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