Sandfire withdraws from Red Mountain Project in Alaska
Sandfire Resources will forgo its rights on the Red Mountain Project, Alaska, but will remain an 11.3pc stake holder of White Rock Minerals Limited. White Rock will retain 100pc ownership of the Red Mountain Project, a high-grade zinc and precious metals VMS project. The potential of the project is highlighted by two high- grade deposits, with an Inferred Mineral Resource1 of 9.1mn mt at 12.9pc ZnEq2, for 1.1mn mt of contained zinc equivalent at the Dry Creek and WTF mines on Red Mountain. White Rock’s project portfolio includes exposure to high-grade zinc and silver through its wholly-owned Red Mountain Project in Alaska.
Thyssenkrupp’s steel CEO to leave end of Feb
The chief executive officer (CEO) of Thyssenkrupp’s steel division will leave at the end of the month, according to German local media citing sources close to the group’s supervisory board. Premal Desai has been heading the steel division since June 2019 and is likely to be succeeded by Bernhard Osburg, currently the unit’s chief commercial officer.
NLMK to install new hot-dip galvanising line
Russia-based Novolipetsk Steel (NLMK) has placed an order for hot-dip galvanizing line for its plant in Lipetsk. The new line supplied by Tenova will have a capacity of 450,000mt/yr. It will enable the company to process interstitial free steel, high-strength steel and advanced high strength steel which have application in the automotive sector.
Ma Steel Mining to produce 7.1mn mt iron ore
Ma Steel Mining Resources Group is planning 32.1mn mt of mining output in 2020, this includes 7.1mn mt of iron ore. In 2019, the company’s earned revenue of CNY6.24bn and total profit CNY903mn. This year company is focusing on iron ore production and is constructing an iron ore concentrate production base of 10mn mt capacity.