Euromines Association Brochure 2015

e u r o m i n e s a s s o c i a t i o n

r e p r e s e n t i n g

12-25 Colt resources

26-41 Cleveland Potash

42-57 eldorado Gold

58-75 Compass minerals

76-97 Lundin mining

european Association of mining industries, metal ores & industrial mineralsSelf-promotion helps Euromines capitalise on continental promiseWritten by: Matthew Staff Produced by: James Pepper

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european Association of mining industries, metal ores & industrial mineralsSelf-promotion helps Euromines capitalise on continental promiseWritten by: Matthew Staff Produced by: James Pepper

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euromines

Under the Presidency of Mark Rachovides, The European Association of Mining Industries, Metal Ores & Industrial

Minerals (Euromines) is striving to lay to bed assertions of the past to encourage its members about the potential of the future.

Mining in Europe, and indeed across the world, has often come in for criticism but through a strong focus on external industry collaboration and internal optimism, the association is well on its way to changing industry standards and consequently, public perceptions.

Existing as a not-for-profit organisation in its current form since 1996, Euromines represents more than 40 different metals and minerals, more than 100 companies and about 350,000 jobs across its member states, and

Conference field trip, Aitik mine, Sweden

“We should be doing exploration and mining and processing and supplying to the people that need those raw materials”– Mark Rachovides, President

b E l g I u M

www.euromines .org 5

euromines

Rachovides is positive that Europe can become a partner of choice within the mining industry.

“The important thing through what we do is to point out where mining fits in the value chain and to get away from those old stereotypes,” he said. “We need a balanced, responsible approach to keep the value chains in the Eu because it won’t contribute to our renaissance or our future if part of the value chain is being sourced outside when we have the ability to do it here.

“We should be doing exploration and mining and processing and supplying to the people that need those raw materials. We can do the whole thing and that should make us the partner of choice because we should be showing ourselves as the leaders in terms of sustainable use of our resources.

Key Personnel Mark RachovidesPresident

Mark Rachovides is a consultant to Eldorado Gold Corporation and until recently was Chairman of Deva Gold, Eldorado’s subsidiary in Romania. He was formerly an Executive Director of European Goldfields which was acquired by Eldorado in early 2012. Rachovides is a well-known specialist in South East Europe and Chairman of the Euromines Gold Group.

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euromines

“That’s what we want to achieve; to set the standard that’s higher than everyone else.”

Present virtuesManufacturing in Europe currently accounts for 75 percent of the Eu’s exports and many of these manufactured products depend on raw materials. It is figures like these which the Association aims to make clearer to the business world moving forward.

“Europe is surprisingly underexplored and underinvested for exploration”– Mark Rachovides

Vykleky quarry in the Czech Republic after rehabilitation

M I n I n g


euromines

Europe is rich in

natural resources

“Europe is surprisingly underexplored and underinvested for exploration, but in terms of technology, we’re very advanced, so we are increasingly developing the ability to mine more complex deposits and have more automated machinery,” Rachovides said. “We ultimately look to a future of state-of-the-art modern mining in Europe.”

The Association is therefore striving, through affiliations with organisations and

Xxxxxxxxxx

Wealth Creation by Mineral Extraction in Europe, organised by Euromines

on 3rd December 2013 in Brussels

Vykleky quarry in the Czech Republic before rehabilitation

b E l g I u M


euromines

conferences at high profile events, to start getting that positive industry message across.

This can only come with a collaborative and integrated drive among its members too though, and Rachovides is adamant that all are responsible in that push and none are burying their heads in the sand.

“Most of our members need and do talk more about our good stewardship and the added value that we bring across the spectrum of our activities,” he added. “A lot of the criticisms are the sins of our past and we need to talk more about the virtues of our present and our future.

“Our performance today in Europe speaks for itself. We have excellent health and safety records, very low numbers of fatalities and rank very highly in terms of productivity. We invent a lot of technologies used worldwide because we are constructive, responsible, intelligent people.”

Globally competitiveStructured through a series of committees, comprising a decision-making steering committee, a think-tank policy committee, and some more specialised sector committees – environment, health and safety, emission training standards, communication, gold mining and magnesia production – Euromines is set up to be the recognised representative for mining in Europe; a voice and point of reference in relation to the European institutions, and a sounding board for members regarding

Key Personnel Corina HebestreitDirector

Dr. Hebestreit is the Director of Euromines. She has 20 years of experience in the mining sector, from primary raw materials to marketing of end products. Over the years she has built an extensive network in the industry and academia.

Johannes DreilsmaDeputy Director of Euromines

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euromines

policy matters and technical issues.The main goal as a consequence of these

ongoing discussions, forums, collaborations with global organisations and monitoring of international trends, is to ensure that the Eu maintains and builds upon its position as a responsible and balanced source of minerals.

Complementing the effective stewardship, innovation and people that the Eu mining sector can boast is also a wealth of deposit opportunities where the industry can expand its footprint, and this is what Euromines will be smoothing the pathway towards

EU mining sector

can boast a wealth of

deposit opportunities

Wealth Creation by Mineral Extraction in Europe

b E l g I u M

www.euromines .org 1 1

euromines

over the coming months and years. “There is certainly a lot of money in Europe and

we also have a tremendous amount of intellectual capital and industrial capital in terms of making and inventing things,” Rachovides concluded.

“If you look at our competitive positioning, we are heavily regulated, have a large population, not a lot of land mass, but still manage to compete in an international market on a company-by-company basis successfully.

“We’ve dealt with the questions of the past and can now be innovative and adopt competitive solutions to problems of the future.”

Association Information

A s s o C i AT i o n

T Y P e

Mining

L o C AT i o n

Brussels, Belgium

f o u n d e d

1996

no. of members

N/A

https://www.facebook.com/Euromines

https://twitter.com/euromines

https://www.linkedin.com/company/euromines

Company ProfilesCanaDa

Lundin MiningRamps up base metals production

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http://issuu.com/action/page?page=78

C O n T E n T S

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uniteD kinGDoM

Cleveland PotashRemains at forefront of the mining industry

uniteD kinGDoM

Compass MineralsAdvanced mining technologies and expanding deepstore division maintain Compass Minerals UK’s continuous improvement ethos

CanaDa

eldorado GoldOperating successfully in emerging jurisdictions

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30CanaDa

Colt ResourcesOn course to revive Portugal’s gold and tungsten mining





Pioneering work with an extremely rare mineral and sustained investment in resources have seen the UK-based company thriveWritten by: Sam Jermy Produced by: James Pepper

Cleveland Potash remains at forefront of the mining industry

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Photo credit: Michael Jagger

http://www.geolocation.ws/v/W/File%3AView%20towards%20Boulby%20Potash%20Mine%20-%20geograph.org.uk%20-%201752884.jpg/-/en

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CLeveLAnd PoTAsh

cleveland Potash, the world’s first commercial producers of the rare evaporate mineral, polyhalite, is currently

undergoing a £250 million investment in a revamping its facilities, which has created new jobs.

The 80-acre boulby mine, in north Yorkshire, England, is currently two year’s into a five-year project which will include the upgrade of existing underground machinery fleet such as larger continuous miners, drills, bolters, conveyors and shuttle cars.

A proportion of the investment will go towards strengthening mine infrastructure to support the polyhalite extraction. It is reopening old roadways

Pioneering work with an extremely rare mineral and sustained investment in resources have seen the UK-based company thrive

Boulby mine

M I n I n gCLeveLAnd PoTAsh

www.c leve landpotash .co .uk 1 7

and widening out existing roadways as well as commissioning, building and augmentation of underground bunkers.

The firm, which is a subsidiary of Israel Chemicals (ICl), has undertook numerous improvement works at the surface too; everything from the £16m rock shaft head tower renewal to improve hoisting and capacity potential to 5.3 million tonnes, to logistical improvements at its Tees Port facility. Significant investment is also planned to improve the efficiency of the surface potash process plant.

Phil baines, Managing Director and general Manager of Cleveland Potash, said: “We are very

Arches at Boulby

Main plant

http://www.clevelandpotash.co.uk

Within Infrastructure we operate in the specialist areas of mining services and moving structures, such as lock gates and swing bridges. Our Environmental business is focused

upon flood defence. In the Energy sector our clients include all the major utilities such as E.ON, SSE and Magnox; for

whom we create and maintain assets in nuclear, coal, gas, hydro and wind. With over 1,000 in-house staff we deliver

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CLeveLAnd PoTAsh u n I T E D k I n g D O M


much improving all facets of the company and the site. Part of our plan was to specifically increase the workforce underground.

“This facilitates four potash mining teams to work at any one time and independently deploy salt mining crews to push out the strategic roadways.

“We’ve actually completed that employment programme now and it has grown the workforce by about 120 over the past 18 months, bringing our underground workforce to more than700, with nearly 1,200 employees in total.”

World leaders A significant development of Cleveland Potash is the polyhalite seam, which sits beneath the potash. The north York Moors coastline is home

The company’s under-

ground workforce has

increased to more than

700, with an overall

total of just under 1,200

Within Infrastructure we operate in the specialist areas of mining services and moving structures, such as lock gates and swing bridges. Our Environmental business is focused

upon flood defence. In the Energy sector our clients include all the major utilities such as E.ON, SSE and Magnox; for

whom we create and maintain assets in nuclear, coal, gas, hydro and wind. With over 1,000 in-house staff we deliver

nationally but are organised regionally.

AMCO is a specialist contractor providing sustainable, multi-disciplinary

solutions to the Infrastructure, Environmental and Energy sectors.

www.amco-construction.co.uk

‘We add value by combining innovation with commercial awareness’

Amalgamated Construction (AMCO) provides a diverse range of specialist construction and engineering services. We create and maintain assets for both public and private sector customers in the specialist sectors of rail and engineering.

AMCO has evolved through a combination of structured acquisition and organic growth into a ‘contractor of choice’. Our business relationships are based on trust, mutual respect, best value, whole life costs and continuous improvement.

Website: www.amco-construction.co.uk

supplier profileAmco




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CLeveLAnd PoTAsh

to a previously unheard amount of polyhalite deposit, and is something which makes the organisation unique. It is the only one in the entire world mining the rare material used as a speciality fertilizers.

Part of the five-year plan is to ramp up the annual polyhalite production tonnage to 600,000 by 2017.

borehole information on the mine dates as far back as the 1930’s. Planning permission was granted in a joint venture between Chartered Consolidated and ICI Chemicals which started shaft sinking in 1969.

The first potash were hoisted in 1973, full-production came about in 1975 but it was not until recently that polyhalite started to be extracted commercially.

baines said: “We put two drifts down from the current salt horizon within the mine, in the central area, about three years ago now.

“There’s millions of tonnes of it and at this stage, its looks relatively stable and strong, and we have proved you can machine cut it and support the infrastructure very well.

“The compressive strength can be up to 150mpa compared 30mpa for the potash so it is significantly stronger but we have been working on it for two years now, and the mine has stood as firm as an office.

“We also have a third mineral called carnallite so we have multiple options that take different processes which gives us much more flexibility

Saltmine

“With any emerging, new product you have to prove that this new product is just as effective, safe and is generally okay compared to more established brands”

– Phil Baines, Managing Director & General Manager

u n I T E D k I n g D O MCLeveLAnd PoTAsh


with our business plan.”The potassium chloride chemical, known

as muriate of potash (MoP), is a product that typically contains 60 percent potash and is the most widely used form. This fertiliser aids in the formulation of vegetative matter and root production so international markets are quite comfortable as a result as this.

Polyhalite on the other hand, is a more complex equation as there is no previous market or trading values to go by.

baines said: “With any emerging new product you have to prove that this new product is just as

Key PersonnelRonnie ShushanChairman

Phil BainesGeneral Manager and Managing Director

Steven DegenDirector

Rainer MarxDirector

Howard ClarkSales & Marketing DirectorSea view of mining operation at Boulby


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effective, safe and is generally okay compared to more established brands.

“So it’s just the same with this polyhalite, we have the potential to mine it and up the tonnage and slowly we have got to develop the market.

“It’s not going to be straightforward and it is a different product as although it is a fertiliser, polyhalite has got different constituents and has different uses so it is going to be steady and a waiting game.

“Over the last seven to 10 years, we have done agronomic trials with the polyhalite and it’s fair to say that every single pot test and trial it has not shown any detriment to any crop.”

Polyhalite contains magnesium and calcium sulphate too and lighter, lumpier soil is where it has optimum effectiveness. It has excellent

Face cleaned up ready for drilling - Polyhalite

Million tonnes of rock salt

mined by the company

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CLeveLAnd PoTAsh

potential as an organic fertiliser, as well as a sulphate, which could work to Cleveland Potash’s benefit as uk and European soil tends to be sulphur deficient.

The firm’s main product is 2-4mm granular potash made from a compaction process, and fertilizers are very much the core product. It can also mine anything between 500,000 and one million tonnes of rock salt, helping to de-ice uk and uS roads in winter time.

Company developmentnew technology and equipment such as the flexible conveyor train, which helps to mine a much greater tonnage, enables Cleveland Potash to achieve improved efficiency.

The underground diesel fleet is 150 vehicles strong and there is an onsite diesel vehicle workshop. Once it goes underground, nothing

‘The (Polyhalite) compressive strength can be up to 150mpa compared 30mpa for the potash so it is significantly stronger…but the mine has stood as firm as an office’– Phil Baines

The company has invested in new equipment

CLeveLAnd PoTAsh M I n I n g


comes to the surface for services.In co-ordination with parent company

ICl, Cleveland Potash has garnered major international clients such as growHow, Yara International and Roullier groupe and sells to clients as far away as brazil. It does not ordinarily sell to Asia because its sister mine Iber Potash does this.

When baines joined the organisation a decade ago it was on the back of the closure of the Selby coalfield and he soon capitilised on the skillset readily available.

He said: “Some were doing schooling on their

Clearing up face ready for drilling

Operations inside

Boulby mine


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own and doing degrees in engineering. It was evident to me there were people who had been here 30 years who were really good, practical guys.

“I really set about trying to formalise this. I’m now President of the Midland Institute of Mining Engineers and through this, I promote best practice and strive to develop people.

“Through the Institute and HM Inspectorate of Mines, we looked at competence and leadership in particular.

In the past five years staff have been sponsored to go to Camborne School of Mines to do Msc in Mining Engineering, and various staff such as geologists, surveyors, mechanical and electrical

Staff have been sponsored to go

to Camborne School of Mines to

do Msc in Mining Engineering

“A massive strategic advantage from a logistics sense is being just 30 kilometres away from the deep-water Tees Port in Middlesbrough”– Phil Baines

2 8

engineers have been supported to broaden their knowledge by undertaking postgraduate study.

Every workman has the nEbOSH working safely qualification and has a minimum two training days a year, and the avenue to go from workman to supervisor and middle-management all the way up to the upper echelons of Cleveland Potash is quite fluid.

Most people live within a 20 mile radius and many businesses on its vendors list are firms from within Cleveland. It donates funds to local football, rugby and cricket clubs, as well as the RnlI and Air Ambulance charities’ illustrating how ingrained Cleveland Potash is in the local community.

Looking forwardEvery company has its business and operational

Loading facilities at

Tees dock

u n I T E D k I n g D O M


challenges and for Cleveland Potash it is going to be its cost per tonne, as it is a big mine with extensive facilities and expensive running costs.

World commodity, global prices affects it too of course but baines has faith in its business plan.

He added: “A massive strategic advantage from a logistics sense is being just 30 kilometres away from the deep-water Port in Middlesbrough, as it can load anything from 1,100 tonne to 65,000 tonne Panamax vessels at Tees dock. It makes us accessible to a wide range of clients.

“going forward Cleveland Potash will be developing the market for polyhalite, maintaining the level of potash production and looking into carnallite more. Further exploration and maintaining its reserve base is of paramount importance.”

Company Information

i n d u s T rY

Mining

h e A d q u A rT e r s

Cleveland, UK

f o u n d e d

Planning permission

granted in 1968

e m P L o Y e e s

1,200

r e v e n u e

£162 million (2012)

P r o d u C T s /

s e r v i C e s

Potash fertilizers for

agriculture


http://www.youtube.com/watch?v=w9F2VMzb0vs

3 1

With exploration in advanced stages at two flagship projects the company can look to generate

important cash flow in the next few years to drive further activity in the country and across the world

Written by: tom Wadlow Produced by: James Pepper

Colt resources is on course to revive Portugal’s gold and tungsten mining

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CoLT resourCes

colt Resources has already invested €60 million in its plan to begin gold and tungsten mining at two sites in Portugal

which once under construction will deliver hundreds of jobs for local people, thus helping to boost the country’s economic recovery.

The exploration expert expects to spend another €100-130 million to get both projects off the ground which will ultimately require 150 permanent staff when production is underway.

Once the flagship exploration projects at boa Fé and Tabuaço are in production, the incoming cash flow will allow Colt to upscale activity at other Portuguese gold and tungsten sites, as well as abroad.

business Development Manager luis Martins said: “I want to have both of our mines producing so we can then generate cash flow and invest in our other projects. We want to spread our activities through Europe and the Middle East, and other locations all over the world.”

This includes a venture in Pakistan currently being explored by Colt Middle East, where copper mining could also bring in money to boost funds for the projects in Portugal.

Founded in Canada in 2007, Colt quickly moved to the Iberian nation on receipt of data from previous operators and the Portuguese government, with whom it shares a highly constructive relationship and vision to turn around economic fortunes.

Managers inspect

the Boa Fé site

“I want to have both of our mines producing so we can then generate cash flow and invest in our other projects. We want to spread our activities through Europe and the Middle East, and other locations all over the world”

– Luis Martins, Business Development Manager

CoLT resourCes M I n I n g

www.co l t resources .com 3 3

Boa Fé and tabuaço The open-pit gold resources at boa Fé, 95 kilometres east of lisbon, and underground tungsten supplies at Tabuaço, in the north, represent the springboard for Colt Resources to emerge as a key mining player both in Portugal and elsewhere.

boa Fé hosts several gold deposits such as banhos, Casas novas, Chaminé, ligeiro and braços, and according to preliminary economic assessments contains reported

Visible gold

Drill hole with Scheelite by UV light Tabuaço project

www.coltresources.com

www.teixeiraduarte.pt

[email protected]

“Teixeira Duarte – Engenharia e Construções, S.A.” is a Portuguese company that started operating in 1921 in the fields of Geotechnical and Foundation Engineering, which gradually extended to other fields of engineering, such as Buildings, Infrastructures, Metalworks, as well as underground, mining, railway and maritime works.

Always maintaining the imprint of a true Engineering Company, with recognized expertise in the design, innovation, construction and management of major projects and developments, it has been operating in the field of underground and mining works since 1981, mainly through its subsidiary EPOS, S.A., which, with its acknowledged experience, still has the most advanced technology and equipment for the performance of this type of works, remaining continuously active for more than 30 years in major mining projects, in the fields of prospecting and survey, infrastructure construction and exploration.True to its performance values, Teixeira

Duarte has achieved a steady and sustained growth that has allowed it to build a strong business capacity, detaining means and resources, namely human, which have enabled it to undergo multiple internationalization processes and broaden its areas of expertise.Having achieved a turnover of more

than EUR 1,500 million in 2013,

Teixeira Duarte Group currently has around 12,500 employees operating in 16 countries, in 4 continents, working in 7 different sectors, notably in Construction, Concessions and Services, Real Estate, Hotel Services, Distribution, Energy and Automotive Industry.Teixeira Duarte has been listed on the

stock exchange market since 1998, but it maintains a stable shareholder structure, mostly dominated by the Teixeira Duarte family, which, along with its history and the operational capacity of its teams and resources, gives it the confidence and responsibility to be able to continue to fulfill its mission: Execute, contributing towards the construction of a better world.

Christensen CS14 C drilling rig – Indicative graph of the drilling capacity in meters, at diameters BQ, NQ, HQ and PQ

Gold prospecting for COLT RESOURCES in Escoural, South of Portugal

http://www.teixeiraduarte.pt


[email protected]

“Teixeira Duarte – Engenharia e Construções, S.A.” is a Portuguese company that started operating in 1921 in the fields of Geotechnical and Foundation Engineering, which gradually extended to other fields of engineering, such as Buildings, Infrastructures, Metalworks, as well as underground, mining, railway and maritime works.

Always maintaining the imprint of a true Engineering Company, with recognized expertise in the design, innovation, construction and management of major projects and developments, it has been operating in the field of underground and mining works since 1981, mainly through its subsidiary EPOS, S.A., which, with its acknowledged experience, still has the most advanced technology and equipment for the performance of this type of works, remaining continuously active for more than 30 years in major mining projects, in the fields of prospecting and survey, infrastructure construction and exploration.True to its performance values, Teixeira

Duarte has achieved a steady and sustained growth that has allowed it to build a strong business capacity, detaining means and resources, namely human, which have enabled it to undergo multiple internationalization processes and broaden its areas of expertise.Having achieved a turnover of more

than EUR 1,500 million in 2013,

Teixeira Duarte Group currently has around 12,500 employees operating in 16 countries, in 4 continents, working in 7 different sectors, notably in Construction, Concessions and Services, Real Estate, Hotel Services, Distribution, Energy and Automotive Industry.Teixeira Duarte has been listed on the

stock exchange market since 1998, but it maintains a stable shareholder structure, mostly dominated by the Teixeira Duarte family, which, along with its history and the operational capacity of its teams and resources, gives it the confidence and responsibility to be able to continue to fulfill its mission: Execute, contributing towards the construction of a better world.

Christensen CS14 C drilling rig – Indicative graph of the drilling capacity in meters, at diameters BQ, NQ, HQ and PQ

Gold prospecting for COLT RESOURCES in Escoural, South of Portugal


supplier profile

TeixeirA DuArTe

Employees: Teixeira Duarte Group currently has more than 12,000 employees operating in 14 countries on 4 continents and doing business in seven different sectors.

Established: 1921

Industry: Teixeira Duarte is now leading one of the largest Portuguese Economic Groups.

Services: We are doing business in seven different sectors such as Construction, Concessions and Services, Real Estate, Hotel Services, Distribution, Energy, Automobile.

Today, Teixeira Duarte takes responsibility for the image created by a company with great value and pioneer in the building, where their teams and structures are interconnected to one end result of recognized ability in design, innovation, building and managing large projects and ventures.

Since large-scale infrastructure such as bridges, dams, hospitals, roads and other public works, the large buildings that mark our history, to speak at Teixeira Duarte is now talking a great know-how and constant presence in our day- to-day.

Ongoing Projects: The development of the company will surely be enhanced by the synergy of different sectors and countries that Teixeira Duarte has established itself allows the confidence and responsibility to continue performing its mission: Execute, contributing towards the construction of a better world.

Website: www.teixeiraduarte.pt


C A n A D ACoLT resourCes


indicated resources of 340,310oz and inferred resources of 84,200oz of gold. It has an estimated 11 kilometres of gold mineralisation.

Initial metallurgical test work has demonstrated that the gold at boa Fé is readily recoverable using a combination of conventional methods such as gravity, flotation and cyanide technologies, with Colt looking to start production by the end of 2015.

The Tabuaço Experimental Mining licence (EMl) in north-Eastern Portugal covers a total area of 45.13 square kilometres. Since 2007 Colt has carried out extensive outcrop sampling work, and then embarked on an exploration and evaluation diamond drilling program which to date involved in excess of 100 drill

Since 2007 Colt has carried out extensive outcrop sampling work


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holes, totalling more than 11,400 metres.Martins outlined the importance of

impending bankable feasibility studies to the progress of both projects. “We are looking to conclude this by early next year,” he said.

“We are developing a resource estimation update and are pretty sure there is huge potential, the bank feasibility study will prove this and encourage investment. The strategy is to start production as soon as possible and generate some cash flow.”

“We are open to many avenues of construction and production and for example have had conversations with potential german and Chinese partners about mining at Tabuaço.”

investing in Portugal Several factors combine to explain Colt’s decision to develop the gold and tungsten mining sectors in Portugal.

The country has a mining legacy stretching 2,000 years back to Roman times and Martins points to a continuing enthusiasm and acknowledgement of the industry’s importance to the nation’s economic recovery.

“In 2012 the government published a new strategy about mineral resources that gives clear political support to the mining sector,” he said. “We have a great relationship with them, and also have a beautiful infrastructure, a very good motorway network and our properties are nearby along with ports and prime rail connections.”

CoLT resourCes

Workers on site

Country Properties

Portugal


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CoLT resourCes

Colt has also been able to draw vital investment from a number of Portuguese sources, part of a batch of investors including a Canadian pension fund and several institutions and individuals from germany, Switzerland, China and Hong kong.

Construction company Teixeira Duarte is a key partner. “They are a big construction group working not only here but in brazil and Angola,” Martins added.

“They have a mining division which is developing several works for Portugal’s main copper mine neves-Corvo and can help us to develop our projects. All our investors share our view and strategy and feel that they will see a good reward on their investment.”

So far investment into the two projects has exceeded €60 million with Martins predicting another €100-130 million be needed before both sites become operational, making

‘The country has a mining legacy stretching 2,000 years back to Roman times and Martins points to a continuing enthusiasm and acknowledgement of the industry’s importance to the nation’s economic recovery’

Drilling works are well underway

CoLT resourCes M I n I n g


the banking feasibility studies of utmost importance in order to secure the remaining funds and deliver new jobs for locals.

Colt’s current 25 staff and 50 sub-contracted exploration workers benefit from the years of expertise in the company through internal training. It also has fruitful relations with several Portuguese universities such as the university if lisbon and university of Évora and Aveiro located near boa Fé and Tabuaço.

“This is about building local partnerships in an academic and vocational point of view as well,” Martins said. “We are already conceptualising the hiring of more people for the construction and production with our subcontractors.”

into the Middle east Away from boa Fé and Tabuaço Colt has several other promising exploration works

Key Personnel Luis MartinsBusiness Development Manager

Luis Martins is a geologist with 30 years of experience in the exploration and mining sector.

Colt is working closely with the government Staff are key to success


4 2

progressing both in Portugal and in Pakistan. In Portugal, the company is exploring for

gold at Santo António, Montemor, Cercal and Cedovim, while finding reserves of gold and copper in a joint venture with junior british company Star Mining at borba in the east.

It has also established Colt Middle East, for which it owns a majority share of 38 percent. This is a unit dedicated to exploring copper potential in Pakistan near the world-renowned supply at Reko Diq, one of the biggest porphyry copper deposits in the world.

Colt Middle East has entered an agreement with Australian-based company lake Resources, and is working closely with local communities and the government of balochistan to develop

“This is about building local partnerships in an academic and vocational point of view as well”– Luis Martins

Exploration work

https://twitter.com/ColtResources

https://www.linkedin.com/company/548157

C A n A D A


CoLT resourCes

Company Information

i n d u s T rY

Mining - mineral

exploration


Canada

f o u n d e d

2007

e m P L o Y e e s

75

r e v e n u e

Not disclosed

P r o d u C T s /

s e r v i C e s

Gold and Tungsten

mining

what it hopes will become a world class asset in the Chagai Hills copper and gold district.

Martins said: “If successful this could completely change the dimension of the company and could provide important funding for our projects in Portugal. “There are political and social issues but still we are working with the local communities to obtain the social license and I think the people will take care of us and we will return a safe and secure investment.”With promising signs to be seen both in Portugal and in Pakistan, Martins believes the company can look further afield in the future. “We can bring benefits to our shareholders and the people in the areas we look to operate in,” he concluded.

https://www.linkedin.com/company/548157


https://www.linkedin.com/company/548157?trk=tyah&trkInfo=tas%3Acolt+resources%2Cidx%3A1-1-1

4 5

Written by: Matthew Staff Produced by: James Pepper

Compass Minerals

Advanced Mining Technologies and Expanding Deepstore Division Maintain Compass Minerals

UK’s Continuous Improvement Ethos

ComPAss minerALs uK LTd

4 6

compass Minerals uk ltd’s levels of annual success may be dependent on factors out of its control, but has for the past two

decades ensured that its flexible approach, high-quality mining techniques and commitment to continuous improvement keeps the company prepared for any eventuality.

As one of the uk’s primary miners, storers and distributors of rock salt to de-ice the country’s roads each winter, the unpredictable nature of the industry means that the ability to remain entrepreneurial and innovative is imperative, and this is something that Compass Minerals uk has been able to achieve amid the core backdrop of key customer collaboration, employee

Aerial photo of the Compass Minerals main site

The company known as Salt Union Ltd until recently is ensuring the ongoing development of a business which can be traced back to the 1840’s through its commitment to flexibility, safety and value-added operations

u n I T E D k I n g D O MComPAss minerALs uK LTd

www.compassminera ls .com 4 7

improvement and service diversification.In such a niche market, building a reputation

is paramount, but Compass Minerals uk, formerly known as Salt union, has certainly been around long enough to boast such acclaim.

Director of Compass Minerals uk’s Salt business, Ian gordon explained: “We have just recently changed our name from Salt union limited to Compass Minerals uk ltd. unifying ourselves as one Compass Minerals allows us to build on our long history of which Salt union has helped build.

“We have been owned by Compass Minerals since 2001 and Compass Minerals floated on the new York Stock Exchange in 2003. We are able to leverage the expertise that they have in the uS and Canada in areas of salt and agricultural specialty fertiliser products, while carrying on the same good work we’ve always done as Salt union under various ownerships.”

In the uk, the company now consists of the one salt mine in Winsford, Cheshire where it has the capability to mine 1.5 million tonnes a year to a customer base comprising local authorities as well as the highways agency to ensure the safety of uk roads.

Sustainable investmentsWith such a long and reputable history in the uk, it would be easy for a company to become embroiled in old-fashioned methods or complacency in its operations, but Compass

Ian Gordon,

Salt Business Director

Gordon Dunn,

Managing Director

More Power Means More ProductivityTo meet the challenges of hard-rock, industrial mineral mining, we’ve engineered our most powerful and most productive continuous miner yet.

Outfitted with a solid head or RipperveyorTM drum, the Joy HM series continuous miner provides smooth, fast cutting action through the toughest of bedded materials. When equipped with our FACEBOSS® control platform, mine operations can push productivity even further with optimised cutting rates during cycles and automated sequences that keep the material flowing — even during shift changes.

To get more power and more productivity, go with the proven solution for industrial mineral mines around the world — the Joy continuous miner HM series.

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JOY GLOBAL Mining Global Oct HM Series.indd 1 10/6/14 9:20 AM


ComPAss minerALs uK LTd u n I T E D k I n g D O M


Minerals is certainly not a brand to rest on its laurels and has subsequently invested heavily into the ongoing development of its equipment, mining techniques and overall sustainability.

“We currently mine almost exclusively with Joy global’s heavy duty continuous miners, moving on from the drill and blast method that was used in the past,” said Managing Director, gordon Dunn. “As mining has developed it has been an ideal application in the salt mine to use continuous miners and we’ve recently purchased our third which we’re building now.

“We’ve also spent the past two years developing into new reserves, 100 metres below where we’ve historically worked, in a lower bed of salt, and we will be in those reserves for the next 30 years.”

Continuous miner

excavator machine

More Power Means More ProductivityTo meet the challenges of hard-rock, industrial mineral mining, we’ve engineered our most powerful and most productive continuous miner yet.

Outfitted with a solid head or RipperveyorTM drum, the Joy HM series continuous miner provides smooth, fast cutting action through the toughest of bedded materials. When equipped with our FACEBOSS® control platform, mine operations can push productivity even further with optimised cutting rates during cycles and automated sequences that keep the material flowing — even during shift changes.

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Joy Global Inc. is a worldwide leader in high-productivity mining solutions. Through its market-leading Surface and Underground Business Segments, Joy Global manufactures and markets original equipment and aftermarket parts and services for the mining industries. Joy Global’s products and related services are used extensively for the mining of coal, copper, iron ore, oil sands, gold and other mineral resources.

Website: www.joyglobal.com

supplier profileJoy GlobAl



5 0


Operations in Winsford Mine

Setting up now for long-term sustainability is a hallmark of Compass Minerals’ success in the uk, and the benefits of the continuous miners has not gone unnoticed, with the parent company replicating the investments and operations in Canada to strive for the same results.

Dunn continued: “Over a five-year period, Compass Minerals has invested more in the




uk than it had done in the previous 15 years.“We’ve put in the new continuous miner

and a new hoisting system, we’re installing the new heavy duty drift conveyor that is a mile long and can pull 1,800 tonnes per hour for a mile, and we’ve also invested heavily into crushing and screening.

“Compass Minerals is investing heavily into the sustainability of the overall facility here in the uk.”

DeepStoreSafeguarding the future of the company even further, one of Compass Minerals’ key areas of growth in recent years has been the initiation and development of its vast storage space with its DeepStore business.

Established in 1998 at its Winsford site before acquiring two further locations in london in 2007, the concept behind DeepStore is to fill the void left behind after mining has occurred to store archives, documents and possessions 150 metres underground in what has been a highly complex and successful initiative.

gordon explained: “We effectively create rooms in the space left behind when the salt has been taken out of the mine, and we store documents for some very well-known customers.”

These customers include financial institutions, police departments, universities and hospitals making the operation not only highly significant but also massive in its stature; the area equivalent to that of 700 football pitches.

The mine has a long

and successful history

“Compass Minerals is investing heavily into the sustainability of the overall facility here in the UK”– Gordon Dunn, Managing Director, Compass Minerals UK Ltd

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We are pleased to have been associated with compass minerals as a prime haulier since the year 2000. You see us everywhere

E: [email protected] [email protected] T: 0152464115 F: 0152436221

Safecote Limited is an innovative winter services solutions company offering tailored products to help local authorities improve the effectiveness of their winter snow and ice management.

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The idea behind DeepStore was to create a storage facility naturally free from the dangers of ultraviolet light, vermin or flooding, and as the mining operation expands, so too will the areas of space left behind to develop the business further.

“It’s a very green re-use of mined areas of the mine, so essentially a great way of getting further value out of it,” Dunn said. “We currently have around two million boxes stored underground, with customers such as The national Archives, capitalising on the ideal temperature and humidity, which is an ideal environment for long term archives and especially paper records.”

Having been awarded ISO9001 and ISO14001 certifications already as a result of its four-pronged security, technology, quality and sustainability model, Compass Minerals is keen to push forward DeepStore even further in the future as a much more consistent and stable source of value to support its salt operations.

Dunn added: “DeepStore is part of our plan to expand the alternative uses of the mine, which

Inside Deepstore

“We currently have around two million boxes stored underground, with customers such as The National Archives, capitalising on the ideal temperature and humidity, which is an ideal environment for long term archives and especially paper records”

– Gordon Dunn

Storing the paper

records inside

Deepstore

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Email: [email protected] Bulk & Haulage Ltd has over 30 years experience in the bulk haulage tipping industry collecting and delivering throughout the UK.

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isn’t just records management, to grow and support the mine so it is less weather effected.”

Flexible business modelDeepStore is just one example of the levels of flexibility that Compass Minerals has historically had to engrain within the fabric of the organisation, stemming from the simple fact that weather is uncontrollable and unpredictable.

Severe winters in the uk can lead to excessive need for rock salt on the roads, sometimes even beyond what’s available and stored within each local facility. Conversely, mild winters can lead to too much salt being stored over that year.

“Our average production rate over 10 years is

Mining operations are prepared to cater for extreme requirements

“DeepStore is part of our plan to expand the alternative uses of the mine, which isn’t just records management, to grow and support the mine so it is less weather effected”

– Gordon Dunn

5 6


around 1 million tonnes,” gordon said. “However, over those 10 years we’ve never had an average year. It’s either at one extreme or the other which requires a very flexible business model.

“We therefore run a steady state model where we produce a fixed amount each month, and let the stocks on the surface float depending on the demand to ensure we can supply our customers.”

This strategy is not only dependent on the weather at the end of the yearly cycle, but is also dependent on close collaboration with the company’s key customers and them setting their own demand levels correctly.

gordon continued: “We encourage customers to hold a certain level of stock. We provide guidelines on holding a certain

Waste mine services

Loading waste onto

trucks



Waste removal inside the mine

number of days’ worth in the event of a winter or snow crisis kicking in.

“We help to make sure they are adequately stocked and ready for the next winter period from December into January and February, because severe weather limits how much we can dispatch from the mine each day and can cause logistical challenges on restocking customers to their needs on a timely basis.

“That’s why it’s so important that we have the right equipment in place and the flexibility of man power contracts too for when these events occur.”

“We encourage customers to hold a certain level of stock. We provide guidelines on holding a certain number of days”– Gordon Dunn

T: 01709 527400 E: [email protected]

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Continuous improvementComplementing Compass Minerals uk’s flexible business model, diverse service range and proactive capital investment strategy, is arguably its most important internal facet in the form of its own continuous improvement ethos and forward-thinking approach.

Having invested a lot into continuous improvement programmes across the company in the search for incremental development, there is special focus turned to the bottom line and the progression of the people within the business.

“We invest very heavily in training and monitor, as a kPI (key Performance Indicator), the amount of training per employee and the value to make sure we’re putting the right amount in,” Dunn said. “In regards to the new equipment, all the

Continuous mining

6 0

ComPAss minerALs

Storage areas in the mine



ComPAss minerALs

craftsmen that would be using the equipment will have been sent to the manufacturer in the uS to have hands-on experience with them, ensuring better maintenance performance for the company in the future.

“We make sure the workforce feels part of the incremental improvements in efficiency and have a say in all of it, and they’re happy to do so because they can see the improvements being made in their methods of work which are now safer, cleaner and less labour intensive.”

looking forward and Compass Minerals uk plans to have moved completely into the new mining area over the next five years, as well as enjoying a new power supply to the mine to enforce even more flexibility and safety in matching demand.

Dunn concluded: “We’re always focused on improving and we aim to run more equipment simultaneously in the future to be more flexible dependent on the weather.

“Part of the value we provide is this guaranteed level of service. Our customers know we will be here for the next 30 years and that we will be able to provide for them for at least that length of time.”

Company Information

i n d u s T rY

Mining


Cheshire, UK

f o u n d e d

1992

e m P L o Y e e s

200

r e v e n u e

£50m (2013)

P r o d u C T s /

s e r v i C e s

Salt mining

“We’re always focused on improving and we aim to run more equipment simultaneously in the future to be more flexible…”– Gordon Dunn

http://linkd.in/1ppMgsF

eldorado Gold:Operating Successfully in Emerging JurisdictionsCEO Paul Wright discusses the company’s two Turkish assets – Kisladag and Efemcukuru – and explains what the future holds for the gold mining companyWritten by: Robert Spence Produced by: James Pepper

6 3

6 4

eLdorAdo GoLd

e ldorado gold Corporation is a 750,000 ounce gold producer with mining, development and exploration operations in

Turkey, China, greece, Romania and brazil. The Canadian-based company owns and operates seven mines and is developing six projects.

The Company’s success to date is based on a low-cost strategy, a highly skilled and dedicated workforce, safe and responsible operations, and long-term partnerships with the communities Gold pour

M I n I n g

www.e ldoradogo ld .com 6 5

eLdorAdo GoLd

where it operates. It’s a disciplined approach that makes for a pragmatic culture; a culture that is honest, forthright and preservers to find solutions. It’s an approach that is shared across Eldorado gold’s diverse global operations.

This ethos has seen Eldorado double production, increase its resources and reserves, and maintain cash operating costs in the lowest quartile of the global cost curve over the past five years. Eldorado’s pipeline of of high-quality,

‘The Canadian-based company owns and operates seven mines and is developing six projects.’

Underground at Efemcukuru mine

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eLdorAdo GoLd M I n I n g


long-lived projects has the potential to make the Company a 1.5 million ounce gold producer. Eldorado gold is now working to develop its assets, particularly those in greece, that will become a major component to its capital growth.

assets in placeEldorado gold’s success is exemplified by its two Turkish mining assets – the kisladag and Efemcukuru gold mines. Although the country hasn’t traditionally been a top location for mining investment, Eldorado saw Turkey’s potential.

“We elected to go into jurisdictions that aren’t typically viewed as mainstream countries for gold mining,” said Eldorado gold CEO Paul Wright. “greece and Turkey have a long history, an ancient history, of gold mining and are very Kisladag Gold Mine

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Joy Global Inc. is a worldwide leader in high-productivity mining solutions. Through its market-leading Surface and Underground Business Segments, Joy Global manufactures and markets original equipment and aftermarket parts and services for the mining industries. Joy Global’s products and related services are used extensively for the mining of coal, copper, iron ore, oil sands, gold and other mineral resources.

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C A n A D A

prospective. That’s our target.“Turkey has been incredibly successful for us.

It’s a very good country to operate in because you have a rule of law, strong work ethic, and a healthy degree of pragmatism. Plus, there’s a rich mining tradition.”

The company’s most successful gold mine to date is the kisladag project in Turkey. As the first open-pit heap leach mine in Europe, the mine produces over 300,000 ounces of gold per year, and is the largest gold producing mine in the country.

“It’s been a very successful, predictable, low cost operation for us. It’s the cornerstone of the company,” Wright added.

The mine, which began production in 2006,

Working on Kisladag Leach Pad

New mine fleet at

Kisladag

7 0

eLdorAdo GoLd

was first discovered by Eldorado using traditional grass roots techniques including satellite imagery followed up by geochemical sampling, drilling and then various stages of engineering, permitting and construction.

Wright added: “We’re currently going through an expansion so we’ll be looking at increasing annual production from 12.5 million tonnes to 20 million tonnes. The expansion will bring the mine life to 16 years.” Eldorado is looking to add a parallel crushing circuit and expanding the ADR plant to provide for the additional capacity.

located in Western Turkey, the Efemcukuru mine is a high grade, underground gold operation. While one of the smaller mines for Eldorado, the project is currently processing over 400,000 tonnes per year.

“It’s an impressive operation not only because of the ore body and the operating performance, but also because the project is only 30 kilometres away from a city of 3 million people,” said Wright. “We put an immense amount of effort and resources to build an operation in a manner that is as low impact as possible.”

Eldorado consulted extensively with local communities on mine design and process flowsheet.

“We made various investment decisions that you normally wouldn’t see with a mine this size. It was designed to reduce visual and environmental impacts, including moving crushers underground. It’s nicely tucked away in the hillsides.”

Trucking ore from the

Kisladag open pit

“We’re currently going through an expansion so we’ll be looking at increasing annual production from 12.5 million tonnes to 20 million tonnes”– Paul Wright, CEO

M I n I n g


eLdorAdo GoLd

Kisladag gold bars

Developing future assetsAlong with its Turkish mines, Eldorado gold is developing additional long-lived assets.

According to Wright, the company has projects in place that will provide major growth capital for years to come.

“We’ve been very deliberate in building a company through exploration and careful

Efemcukuru mine site at night

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C A n A D A

acquisition. We’re building a portfolio of extremely high quality, long-lived assets.”

The company is currently focused on the development of two projects in greece: Olympias and Skouries.

“The Olympias mine was a pre-existing polymetallic mine producing silver, lead, zinc and gold,” said Wright. “We’re currently developing it in three phases.”

The first phase is a rehabilitation project, where Eldorado is cleaning up 2.4 million tonnes of pre-existing surface tailings.

“We’re half way through the cleanup where we are treating the tailings by running them through a refurbished processing plant,” added Wright.

The second phase will include the reactivation of the mine.

“We’re in the process of rehabilitating and redeveloping the underground mine and we’ll be looking at processing ore through the existing, refurbished mill using a flotation process to produce three concentrates: lead-silver, zinc and gold-bearing pyrite-arsenopyrite” said Wright. “We’re looking at an initial run rate of approximately 400,000 tonnes per year from the underground mine.”

The third and final stage will be doubling the throughput of the underground mine, including a new plant facility, which will be roughly eight kilometres from the mine.

“We’re in the process of driving an eight km tunnel to connect the new plant location with the

Main access portal at

Olympias

‘The Olympias mine was a pre-existing polymetallic mine producing silver, lead, zinc and gold’– Paul Wright, CEO

Olympias site

eLdorAdo GoLd

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bottom of the underground mine,” said Wright. “That tunnel is currently 1.6 kilometres complete.

“Although this is a number of years out, you’ll see us removing all of the infrastructure around the Olympias mine site, reclaiming almost all areas, including dismantling the current processing plant.”

Another exciting project for Eldorado gold is its Skouries asset in northern greece. The high-grade gold-copper porphyry deposit will operate in two phases with the initial phase consisting of a small, open pit mine. The production of the mine, which is expected to commence in late 2016, will be roughly 8 million tonnes per year.

Olympias tunnel

development

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eLdorAdo GoLd C A n A D A

Skouries main adit

“The project will be followed by 20 plus years at 4 million tonnes per year with the underground aspect” said Wright. “We’re in full construction now,”

The mine will also include a simple metallurgical process that will produce a clean copper-gold concentrate via flotation as well as doré form a gravity circuit.

Long-term PartnershipsEldorado has built a strong track record as a responsible producer that delivers on its commitments. Operating with integrity is one of Eldorado’s top priorities and it implements

Skouries mineralisation

7 6

eLdorAdo GoLd

world-class technical, environmental and safety practices at all its assets. The Company recognises that its success is contingent on building and maintaining long-lasting relationships with its stakeholders.

“Around the world communities continue to be resistant to mining projects and developments. based on our experiences, we’ve learnt to be open and transparent and engaged in the society from the moment you’ve stepped foot in their community. From the very beginning, companies need to develop rapport and trust that responsible mining can be beneficial to society.”

“You have to take a holistic view, recognise your impacts and develop ways to manage and

Coarse Ore

Noise sampling at Kisladag


eLdorAdo GoLd C A n A D A

mitigate these from project inception through to reclamation, closure and life after,” said Wright. “There’s no point in hiding from that reality. Most people expect you to be open and have dialogue.”

For Eldorado, integrity means being honest, straightforward and accountable. This is achieved through transparent practices such as conducting local mine tours or having community groups test the operations themselves for environmental compliance.

Wright concluded: “We spent a lot of time in teahouses in Turkey answering all types of questions about our operations. Without a doubt, it was this engagement that was fundamental to our success in the country”.

Company Information

i n d u s T rY

Gold mining


Vancouver, Canada

f o u n d e d

1992

e m P L o Y e e s

Over 7,000

r e v e n u e

US$ 1,124 million

P r o d u C T s /

s e r v i C e s

Gold, Silver, Lead, Zinc,

Iron Ore

Planting trees at Kislada

https://www.facebook.com/EldoradoGoldCorp

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Ramps up base metals production Written by: tom Wadlow Produced by: James Pepper

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Lundin mininG

L undin Mining is bolstering its presence across Europe and beyond with a number of promising expansions, along with

exploration and mine construction projects which will see the company head towards its 500,000-ton production target in the next two to three years.

Such ambition is amply demonstrated by the drive to more than double zinc output at lundin’s neves-Corvo mine in Portugal, while a $715 million investment into a new nickel-copper mine in Michigan, uSA, is now operational.

The American acquisition from Rio Tinto extends the company’s reach beyond its European heartland, where mines in Portugal, Sweden and Spain are also performing well and have life ahead of them.

Away from wholly-owned operations, lundin Mining also holds a 24 percent stake in joint ventures with Freeport in a high quality copper-cobalt operation in the Democratic Republic of Congo (DRC) and in a cobalt refinery in Finland, granting vertical integration into the world of cobalt mining.

While current performance and growth has been steady, CEO Paul Conibear is aware that the business needs to keep exploring for the next high-grade copper discoveries and bring more assets on board.

“Our metal production is around 300,000 tons this year and I would like to get us up to 500,000 tons in the next two to three years which means

The mid-tier producing copper, zinc and nickel specialist has just commenced production from its $715 million investment at the Eagle Mine in Michigan and is reviewing expanding zinc production at its long-life Neves-Corvo mine in Portugal

Map showing

worldwide operations

https://s3.amazonaws.com/wdmstreaming2014/Static_Images/HCG/Map-test/Map-showing-worldwide-operations.jpg

www. lund inmin ing .com 8 1

Lundin mininG M I n I n g

“Our metal production is around 300,000 tons this year and I would like to get us up to 500,000

tons in the next two to three years”– Paul Conibear, CEO

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Lundin mininG

an additional one or two more mines,” he said. “This will lift lundin Mining to the sort of scale we want to be at, operating five or six strong mines.”

neves-Corvo Approximately 220 kilometres southeast of lisbon in the Alentejo district of southern Portugal lies neves-Corvo, lundin Mining’s most significant European asset run by its native subsidiary Somincor, and one which could have up to 30 more years of life ahead of it.

Already producing 50-60,000 tons of copper and 60-65,000 tons of zinc annually from five separate ore deposits, the company is conducting a feasibility study which could see it more than double zinc output by 2017.

“The study is not complete yet but we are optimistic,” Conibear added. “The global resource is more than 100 million tons of better than six percent zinc and only 1.2 million tons a year is being processed.

Neves-Corvo

‘Approximately 220 kilometres southeast of Lisbon in the Alentejo district of southern Portugal lies Neves-Corvo, Lundin Mining’s most significant European asset’


Lundin mininG C A n A D A

“There is huge potential if we can get the capital investment right. Worldwide there are very few western companies who have an asset base like this, so it is a unique opportunity for us to look at something which has been underexplored over the past decade.”

The study should be completed by the end of Q1 2015, with lundin keen to get construction underway which would involve deep bottlenecking, improving shaft capacity and doubling the zinc plant above ground. The company is also looking to expand tailings management storage and advanced water treatment facilities.

Despite the upcoming focus on boosting zinc production, copper will continue to provide 50 percent or more of revenues from this asset, home to 2,000 of lundin’s 3,000 global workforce.

into the americas lundin Mining’s newest Michigan asset fits perfectly into Conibear’s plan to find new deposits of the highest quality.

Having acquired the nickel-copper site from Rio Tinto in July 2013 for $315 million, a further $400 million has brought the project to operational status ahead of schedule with a view to it becoming the company’s eventual biggest earner.

Conibear said: “This is an extremely high-grade deposit, and nickel has taken a big step forward recently as a highly valuable commodity so we are hitting the cycle at an ideal time.

Tons of copper currently being produced from

the Neves-Corvo mine

60,000


TEIXEIRA DUARTE – ENGENHARIA E CONSTRUÇÕES, S.A. is a Portuguese company that started operating in 1921 in the fields of Geotechnical and Foundation Engineering, which gradually extended to other fields of engineering, such as Buildings, Infrastructures , Metalworks , as well as Underground , Mining, Railway and Maritime works

Always maintaining the imprint of a true Engineering Company, with recognized expertise in the design, innovation, construction and management of major projects and developments, it has been operating in the field of underground and mining works since 1981, mainly through its subsidiary EPOS, S.A. which, with its acknowledged experience, still has the most advanced technology and equipment for the performance of this type of works, remaining continuously active for more than 30 years in major mining projects, in the fields of prospecting and survey, infrastructure construction and exploration.

True to its performance values, Teixeira Duarte has achieved a steady and sustained growth that has allowed it to build a strong business capacity, detaining means and resources, namely human, which have enabled it to undergo multiple internationalization processes and broaden its areas of expertise. Having achieved a turnover of more than EUR 1,500 million in 2013, Teixeira Duarte Group currently has around 12,500 employees operating in 16 countries, in 4 continents, working in 7 different sectors, notably in Construction, Concessions and Services, Real Estate, Hotel Services, Distribution, Energy and Automotive Industry. Teixeira Duarte has been listed on the stock exchange market since 1998, but it maintains a stable shareholder structure, mostly dominated by the Teixeira Duarte family, which, along with its history and the operational capacity of its teams and resources, gives it the confidence and responsibility to be able to continue to fulfill its mission: Execute, contributing towards the construction of a better world.

www.epos.pt

Water reservoir – Neves Corvo Mine, Portugal

Mine infrastruture development – Aguablanca Mine, Spain Equipment maintence

Mine infrastruture development – Aguablanca Mine, Spain

Mine infrastruture development – Neves Corvo Mine, Portugal www.teixeiraduarte.pt




www.epos.pt




Mine infrastruture development – Neves Corvo Mine, Portugal

http://www.epos.pt






www.epos.pt




Mine infrastruture development – Neves Corvo Mine, Portugal www.teixeiraduarte.pt




www.epos.pt




Mine infrastruture development – Neves Corvo Mine, Portugal

http://www.epos.pt

supplier profile

epos

Established: Early 1980’s

Industry: Construction

Services: EPOS - Empresa Portuguesa de Obras Subterrâneas, S.A. is a leading Portuguese company for large underground construction contracts of all types, holding an extensive experience in this type of work. Founded in 1986, the company quickly affirmed itself as the specialised contractor in its field. More than 20 years on, EPOS is today recognised in the market for the high technology of its production facilities, both human and equipment, that are clearly reflected in the high standard of its outstanding works. EPOS is confident in the future, emphasised by the ever increasing demands of the different works it has been awarded. EPOS faces its challenges, strengthened by this confidence, as it reaffirms its leadership and ongoing commitment on quality, safety, its team, cutting edge technology, respect for the environment as well as social responsibilities and the continuous improvement in profitability that guarantees the satisfaction of customers, shareholders and investors.

Management: President - Dr. José Pedro Poiares Cobra Ferreira

Website: www.epos.pt

http://www.epos.pt

C A n A D A


Lundin mininG

“Currently the life is eight years and there is a satellite deposit we are drilling now to see if we can expand the life beyond this. There are not many new mines being built these days so we are very pleased with how this has developed.”

The CEO said that lundin should be able to produce at around $2 per pound of nickel, and with prices currently sitting at roughly $8, the margins are extremely encouraging, especially given annual production is expected to reach respective amounts of 23,000 and 20,000 tons of nickel and copper.

The 300 metre long, 85 metre wide and 340 metre deep high grade deposit will also produce some cobalt, platinum, palladium and gold by-products.

Just recently announced is lundin Mining’s acquisition from Freeport of an 80 percent stake in the renowned Candelaria copper/gold mine in Chile. This $1.8 billion acquisition vaults lundin up into the top 20 copper producers, more than doubling 2015 copper production.

lundin is pursuing upside opportunities at Candelaria with an aggressive exploration programme to extend the life of the large open pit and three existing underground mines that make up the Candelaria Mine Complex.

Closer to home back in Sweden, lundin Mining is celebrating its 10th anniversary of operating the Zinkgruvan zinc and copper mine, which has at least another

‘Just recently announced is Lundin Mining’s acquisition from Freeport of an 80 percent stake in the renowned Candelaria copper/gold mine in Chile’

Unparalelled perfectionOur vision is to continue as an innovative oil & gas engineering servicing and procurement company, supporting strong local ties with other foreign partners and to further the company’s commitment to remain amongst the leaders and ‘best in class’ in our core business areas.

Dredging/Pipeline Services | Engineering & Technical Services | Leasing | Procurement

[email protected]

Contact us today to see what we can do for you

Huberman Ltd

60 Mbonu street D/Line Port Harcourt, Rivers Statet: 08036771817 - Ben Hadome t: 08082474008 - Daniels Emiri

IJC Conrad & Associates Ltd

1 Lawrence Drive off Peter Odili Road Port Harcourt, Rivers Statet: 08033418486 - Emeka Nwamemofuma t: 08085122227 - Azubike Arguba

By employing a policy of blending local knowledge and experience with the technical expertise and quality practices of internationally reputable organizations, Huberman Ltd/IJC Conrad & Associates Lmited (JV) today is a multidisciplinary service organization providing substantial Nigerian input in a wide range of services areas.

[email protected]

We are currently partnered with RIVTAF on their GOLF ESTATE project, doing the reclamation of the swamp land and the sand mining for the entire project.

mailto:hubermanltd%40gmail.com?subject=



Unparalelled perfectionOur vision is to continue as an innovative oil & gas engineering servicing and procurement company, supporting strong local ties with other foreign partners and to further the company’s commitment to remain amongst the leaders and ‘best in class’ in our core business areas.

Dredging/Pipeline Services | Engineering & Technical Services | Leasing | Procurement

[email protected]

Contact us today to see what we can do for you

Huberman Ltd

60 Mbonu street D/Line Port Harcourt, Rivers Statet: 08036771817 - Ben Hadome t: 08082474008 - Daniels Emiri

IJC Conrad & Associates Ltd

1 Lawrence Drive off Peter Odili Road Port Harcourt, Rivers Statet: 08033418486 - Emeka Nwamemofuma t: 08085122227 - Azubike Arguba

By employing a policy of blending local knowledge and experience with the technical expertise and quality practices of internationally reputable organizations, Huberman Ltd/IJC Conrad & Associates Lmited (JV) today is a multidisciplinary service organization providing substantial Nigerian input in a wide range of services areas.

[email protected]

We are currently partnered with RIVTAF on their GOLF ESTATE project, doing the reclamation of the swamp land and the sand mining for the entire project.

decade of life to run. This was the company’s first major asset

following the lundin Family’s discovery of its first mine at Storliden, in northern Sweden. The business started out as a junior explorer in the 1990s before making this high-grade zinc and copper breakthrough in 1999, which went into production in 2002 and provided essential capital for acquisition of additional mines.

At Zinkgruvan, in the central-south region of the country, lundin Mining has managed to ramp up extraction of ore from 700,000 annual tons to 1.2 million, with Conibear looking to gain another five to 10 percent by maximising current capabilities.

“Each year we have been successful in discovering more than we’ve milled,” Conibear added. “And as well as producing 75-80,000 tons

Operations in

Zinkgruvan mine

mailto:hubermanltd%40gmail.com?subject=

https://www.youtube.com/watch?v=xgm33QDC45k

crmeyer.com 800.236.6650

Heavy Industrial General ContractorsSpecialists in Mining Construction and Maintenance

Design/Build • Boilermaking • Concrete • DemolitionIronworking • Millwrighting • Piping • O�ces Nationwide

Checking References?


Ours go back 125 yearsmorethan


With gratitude to Lundin Mining for the opportunity to help build the new Eagle Mine and reinvigorate the historic Humboldt Mill in Michigan’s Upper Peninsula.

CR Meyer is proud to be a part of the region’s rich mining history.

http://www.crmeyer.com



crmeyer.com 800.236.6650

Heavy Industrial General ContractorsSpecialists in Mining Construction and Maintenance

Design/Build • Boilermaking • Concrete • DemolitionIronworking • Millwrighting • Piping • O�ces Nationwide





With gratitude to Lundin Mining for the opportunity to help build the new Eagle Mine and reinvigorate the historic Humboldt Mill in Michigan’s Upper Peninsula.

CR Meyer is proud to be a part of the region’s rich mining history.

“As well as producing 75-80,000 tons of very clean zinc, the 30-35,000 tons of lead and 3-4,000 tons of copper by-products makes this mine very cost effective”– Paul Conibear

of very clean zinc, the 30-35,000 tons of lead and 3-4,000 tons of copper by-products makes this mine very cost effective.”

Elsewhere in Europe, lundin is looking to shift production from seven years of open pit to underground extraction of better-quality nickel and copper at Aguablanca in southern Spain.

This will commence at the turn of the year for an initial life of three years with the option to go deeper.

lundin Mining also holds a 24 percent interest in a joint venture with Freeport at Finland’s kokkola cobalt mine.

A similar stake of a Freeport partnership at Tenke Fungurume in the DRC, one of the world’s largest known copper-cobalt resources, has also been established and it delivered $140 million to lundin in cash flow last year.

CR Meyer is a self-performing design/build heavy industrial contractor with eight responsive field offices strategically located across the United States. We are consistently ranked in the top 10 contractors to the pulp and paper industry by Engineering News Record and number 224 overall in the publication’s Top 400 Contractors of 2013. We are experts in boilermaking, carpentry, concrete, demolition, ironworking, masonry, millwrighting and rigging, pile driving.

Website: www.crmeyer.com

supplier profilecr meyer

http://www.crmeyer.com

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Lundin mininG

Eagle Mine

advancing techniques As well as developing its portfolio of high-grade assets, lundin Mining is also eager to make the most out of both tried and tested and new innovations to help see it reach future production targets.

The company is trialling two enormous 60-ton Atlas Copco underground haul trucks at neves-Corvo, where advanced dewatering of tailings is also being put into practice alongside smart technologies to help give enhanced visibility of important mining processes.

Eagle Mine is also home to pioneering techniques. Conibear added: “Water treatment

‘Eagle Mine is also home to pioneering techniques. “Water treatment is an area which the company is stepping up its activity” – Paul Conibear

M I n I n g


Lundin mininG

is an area which the company is stepping up its activity. At Eagle Mine we have two state-of-the-art water treatment plants which I have not even seen in the base metals industry before. These have reverse osmosis capabilities and cost around $60 million.

“Over in Sweden heat recovery has become a priority and something which has helped us conserve energy – we are looking into deploying this in other locations too.”

Responsible In all areas of operations lundin Mining is committed to working responsibly and to the

Value in dollars of two state-of-the-art water

treatment plants

60 million

http://www.cimertex.pt

http://www.cementation.com



benefit of the localities in which it is based. The company’s corporate goals include

‘development of a high performance, motivated culture, achieving a safe, productive and healthy work environment, and to conduct business activities ethically and transparently’.

Each year lundin Mining publishes a detailed Sustainability Report, outlining achievements and areas for improvement in sectors from environment and corporate governance to social and health and safety.

During 2013, overall safety record for the year included a Total Recordable Incident Frequency (TRIF) of 2.01, which represented an improvement of 20 percent over the prior year TRIF of 2.50. The target for 2014 is 1.8.

The company has a strong reputation as being a good corporate citizen, underlined by its support of social programmes including the Zinc Saves kids initiative.

Zinc Saves kids is a scheme designed to improve the survival, growth, and development of undernourished children by funding unICEF’s zinc supplementation and treatment programmes.

This was one of many schemes funded by lundin Mining, with overall company spend on social programmes exceeding $9 million for 2013.

As of January 2013, 0.1 percent of company revenues are being channelled into the lundin Foundation.

Conibear explained in the Sustainability Report

Key Personnel Paul ConibearCEOMr. Conibear has more than 30 years’ experience in corporate and asset management of all phases of mining investments in North and South America, and several African countries including the Democratic Republic of Congo. Originally from the mining centre of Sudbury, he brings a practical background of 18 years in mining project and construction management followed by 12 years as a corporate officer and director for several successful public companies including Tenke Mining Corp.

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2013: “In addition to the provision of traditional community investment programs in the areas of health, education and community infrastructure, the lundin Foundation provides seed grants, technical assistance and risk capital to high-potential small and medium-sized businesses and social enterprises with a view to generating wealth and employment needed to alleviate poverty on a sustained basis.”

Such ongoing work will only continue to strengthen the company’s reputation as a sustainable miner, something which the CEO is determined to preserve and enhance moving forward.

Looking forward As well as helping to improve the lives of others, lundin Mining also invests heavily into developing its own base of employees and prospective workers. This often involves offering work to locally-based people, providing an instant economic boost to the areas operated in.

Equally as important as adopting the latest proven mining techniques and training existing workers is nurturing the mining engineers and directors of tomorrow, something which the company’s successful graduate scheme is actively pursuing.

“We hire a lot of young people; last summer we had 58 students and when they come on board we cycle them through our mines to gain on the job training,” Conibear said. “It has been

The company takes

on graduates from

Portuguese and

Swedish universities

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extremely successful, as every new grad has been deployed and we don’t get them back as they really demonstrate their value to the operations.

“Quite a lot of our graduate hiring comes from Portuguese and Swedish universities and we will attract American and Canadian students with the Eagle Mine. We are based in some outstanding locations for young people to start their working careers.”

uncovering new high-grade deposits is also key to future growth, with lundin Mining spending $35-50 million a year on exploration, primarily in

“..the group has a great exploration record over the past 15 years but Mother Nature is tough – it takes time”– Paul Conibear

Uncovering new high-

grade deposits is also

key to future growth

C A n A D A


Lundin mininG

pursuit of copper. Around half of this is spent around the company’s

existing sites with the rest being invested in the likes of Peru, Chile, Turkey and Romania.

The outcomes of these works could be pivotal to Conibear’s ambitions. He concluded: “being growth oriented brings its challenges, the greatest of which being to find quality investment targets. There are plenty of affordable exploration projects but the grades are hard to find.

“That said the group has a great exploration record over the past 15 years but Mother nature is tough – it takes time.”

Company Information

i n d u s T rY

Mining


Toronto, Canada

f o u n d e d

1994

e m P L o Y e e s

3,000

r e v e n u e

$727.8 million (2013)

P r o d u C T s /

s e r v i C e s

Copper, zinc and nickel

specialist

https://www.linkedin.com/company/lundin-mining-corporation

euromines

Avenue de broqueville 12 1150 brussels, belgium

Tel. +32 2 775 63 31 Fax. +32 2 770 63 03

[email protected] www.euromines.org

Documents

Euromines Association Brochure 2015