Top 10 mining projects by ore value

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Denison Mines’ Wheeler River Flagship Project in Saskatchewan. Image courtesy of Denison Mines

In mining, grade is king. Across the product spectrum, some of the most anticipated results – which can determine the scope of a mining project – are drill test analytics values.

As one of the most influential figures in the mining industry, Robert Friedland, sums it up:

“Mining 101. The high quality is good. A bad grade is bad.

“The higher the score, the lower the environmental footprint,” Friedland said. “The higher the grade, the smaller the plant; the lower the electricity consumption, the smaller the labor force, the smaller the tailings pond, the less greenhouse gases per unit of metal produced.

The value of the ore is calculated by multiplying the metals and minerals contained per tonne in the proven and probable reserves by the going price for the raw materials.

Canadian projects occupy six spots of the top ten with the list of most valuable minerals, compiled with data provided by our sister company Mining intelligence.

* Commodity prices as of October 27

In the first place is the Russian company Polymetal – Primorskoye-Salut is a key exploration project and is part of the Dukat hub, which is the largest silver deposit in Russia. Primorskoye-Salut has ore reserves valued at $ 2,241 per tonne, for a total value of $ 270 million.

The Denison Mines Wheeler River uranium project in the Canadian province of Saskatchewan comes in second. Wheeler River is the largest undeveloped uranium project in the eastern part of Saskatchewan’s Athabasca Basin, with ore reserves valued at $ 2,028 per tonne, for a total value of $ 2.84 billion.

Third place goes to NextGen Energy’s Rook I uranium project, also in Saskatchewan, which includes the high-grade Arrow deposit, hosted underground, which NexGen says is the “largest uranium deposit in the world. stage of development in Canada ”. Rook 1 has ore reserves valued at $ 1,356 per tonne for a total value of $ 6.2 billion.

Russia’s North Kaluga copper project, which Polymetal sold to North Kaluga Mining last year for $ 27 million, plus royalties, comes in fourth. North Kalgua has ore reserves valued at $ 1,249 per tonne for a total value of $ 400 million.

In fifth position is Ivanhoe Mines / Gécamines’ Kapushi zinc project in the Democratic Republic of Congo, with ore reserves valued at $ 1,152 per tonne for a total value of $ 9.89 billion. Alexo Resource Corp. ranks sixth for its Lucky Queen silver deposit in Canada’s Yukon Territory, part of the Keno Hill Silver District project. Lucky Queen has ore reserves valued at $ 1,131 per tonne for a total value of $ 80 million.

Seventh place goes to Uranium Fission’s Patterson Lake South project and Athabasca Basin in Saskatchewan with ore reserves valued at $ 921 per tonne for a total value of $ 2.1 billion.

Alexo Resource Corp. takes another spot – eighth place – for his Bermigham silver project in the Keno Hills Silver District in Canada’s Yukon Territory. Bermingham has ore reserves valued at $ 818 per tonne for a total value of $ 520 million.

Gold projects round out the top ten. Terramin’s Bird-in Hand project in Australia ranks ninth, with ore reserves valued at $ 760 per tonne for a total value of $ 290 million, while Maritime Resources’ Hammerdown project in Newfoundland and -Labrador in Canada follows with ore reserves valued at $ 738 per tonne for a total value of $ 320 million.

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