Rio Tinto is to invest almost US$1.10 billion in two of its iron-ore assets. The UK-headquartered company has confirmed a 16-year extension to its wholly-owned Marandoo iron-ore mine in the Pilbara, and a resumption of the expansion programme at 58.7%-owned Iron Ore Company of Canada (IOC).Rio Tinto has approved a US$933 million investment to extend the life of the 15Mt/y Marandoo iron-ore mine by 16 years to 2030. The life of the operation will be extended by developing adjacent reserves below the water table.
<p>The group's chief executive Iron Ore and Australia, Sam Walsh, said "With a high iron and low phosphorus content, Marandoo's Marra Mamba ore assists in maintaining the Pilbara Blend grade requirements, and maximising the value of
symons cone crusher our integrated Pilbara operations. It also underlines our ability to develop projects to sustain tonnage at the same time as expanding our overall production capability."</p>
<p>The project includes the construction of a wet processing plant, accommodation and construction camp, additional mining fleet and a water-management strategy. The latter will include priority water delivery to the Tom Price township (35km away), the reinjection of water into the Southern Fortescue borefield to the north and a proposed irrigated agriculture scheme.</p>
<p>In the group's second major iron-ore investment announced this week, subsidiary IOC gave the go-ahead to a further US$277 million investment in a project that will ultimately raise its concentrate production capacity by 40% to 26Mt/y. The other shareholders in IOC are Mitsubishi Corp (26.2%) and Labrador Iron Ore Royalty Corp (15.1%).Phase two of IOC's three-stage programme to expand its
symons cone crusher concentrate capacity was suspended in 2008 due to the global financial crisis. Resumption of the programme will lift IOC's annual concentrate capacity from 22Mt to 23.3Mt from 2013.</p>
<p>Rio Tinto noted that recent studies have highlighted "an opportunity to improve time to market through bringing forward some capital items from the third stage, resulting in higher level of production earlier". The third stage of the planned expansion is being studied, and a final investment decision is expected by 2012.Mr Walsh commented "global seaborne iron-ore demand is projected to increase substantially over the next decade, and IOC's concentrate is well placed to complement the increasing use of lower-quality ore to meet that demand. With high iron content and very low levels of impurities, IOC's concentrate provides significant value to steel producers as ore grades from direct shipping mines continue to decline."</p>
<p>The first stage of IOC's concentrate expansion programme (scheduled to be completed by the end of this year) comprised an overland conveyor, a fourth autogenous grinding mill, and associated mine and rail equipment.Construction of the second stage will start immediately (to capitalise on the brief Labrador construction season) and be fully commissioned by the end of 2012. This programme
symons cone crusher will see IOC expand its magnetite-processing facility and add new spiral lines to its gravity separation circuit. It will also include the purchase of additional mining equipment, railway cars and a locomotive, as well as upgrades at the Wabush terminal sub-substation.</p>
<p>Yankee Hat Minerals Ltd. is pleased to provide an update on its drill program at the Fran Property, located in central BC. All eight planned holes have been drilled, with the Company receiving assays for the first three holes confirming the extensions of the known gold zones at depth.The holes completed at the Fran Property are the first new holes drilled since 2007, and the assay results confirm the continuity of gold mineralization below historical drilling. All three holes assayed to date encountered gold, and the results include 6.47 g/t Au over 2.43m in hole FR-10-081, 9.93 g/t Au over 0.7m in hole FR-10-082, and 1.81 g/t Au over 4.67m in hole FR-10-080.</p>
<p>The current drill program was intended to determine the extent of the mineralized gold zones identified from historic results. In this regard, Yankee Hat has generated a 3D Gemcom model which clearly shows four gold zones extending for over 700 meters along strike. The results from the first three holes confirm and expand these known gold zones which have extended the known zones for up to 140
symons cone crusher metres below the historic drilling. The assay results from the remaining 5 holes will be released when available and the 3D Gemcom model accompanied with new long-sections.</p>
<p>The gold mineralization is hosted into a series of sub-vertical, northwest trending, structures containing quartz veining and significant pyrite. Assay results from previous drill programs testing the structures include 27.1 g/t Au over 1.3 (FR-07-071), 32.49 g/t Au over 2.1 m (FR-07-074), 17.03 g/t Au over 2.4 m including 25.2 g/t Au over 1.36 m (FR-05-048), 9.43 g/t Au over 8.24 m including 87.97 g/t Au over 0.52 m and 13.86 g/t Au over 0.9 m (FR-06-055).
symons cone crusher</p>
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