2014年1月14日星期二

Paladin Energy uranium mine sale expected in coming weeks


Paladin Energy said talks around the sale of its Langer Heinrich uranium mine were progressing as the price for uranium continues to deteriorate.
The Perth-based miner flagged its intentions to sell its stake in the African mine in August when it announced a raft of cost-cutting measures to combat the weakening price of uranium.
While it was widely thought a deal would be inked before Christmas, Paladin chief executive John Borshoff said more details would become available in the next few weeks, The West Australian reported.
"Things are progressing and we will see what the next month or so will bring," he said.
The company’s quarterly report is due this week, but yesterday Paladin released an update for its Manyingee deposit, 80km east of Onslow.
The project has been upgraded, with the company reporting it now holds an inferred and indicated resource of 25.9 million pounds at an average grade of 850ppm, making it WA's fifth largest uranium project.
While Borshoff the project was a long-term play for the miner, he said the stubbornly low uranium price meant all new developments had been put on the backburner.
"It's unsustainable at the moment," Borshoff said.
"Everyone has declared a moratorium on new projects. It's all hanging by a thread and at some point this year it has got to turn."
Last year the company made a $US173 million loss in the three months to June.
Paladin signalled it would slash corporate and exploration costs by $US10.8 million, a 24 per cent reduction.
While capital expenditure will be cut by $US12.4 million over the next two financial years.
The miner said production costs have fallen 12 per cent at Langer Heinrich, with further targets aimed at reducing this to 15 per cent.
While cash costs at Kayelekera have dropped by 20 per cent, with the company aiming for a 22 per cent totat.
Paladin has five uranium exploration projects operating in Australia.

The 'sea bass' euphemism


In 1977 an American businessman began importing a new fish from South America to the U.S.: a monstrosity with leathery lips and a mouth evolved for sucking up prey in the blink of an eye -- the kind of looks you'd expect of a fish that lurks in the dark, as deep as 13,000 feet. Slicing the fish into skinless fillets relieved it of its appearance, and the businessman erased its last vestige of ugliness by changing its name from Patagonian toothfish to Chilean sea bass.
The fish was a hit in restaurants, prompting fishermen to look for it in other places. Their attention eventually turned to a closely related species, the Antarctic toothfish, which inhabits the world's southernmost waters. Commercial harvesting of Antarctic toothfish began in 1996, in Antarctica's Ross Sea.
Vessels fishing for toothfish carry scientific observers and are tracked by GPS; and a few fish are tagged and released in order to monitor the population. All this makes it "one of the best managed, most sustainable, environmentally benign fisheries in the world," says Martin Exel, a senior manager at Austral Fisheries, a company based in Perth, Australia, that fishes for toothfish.
But Arthur Devries, a marine biologist at the University of Illinois in Urbana, sees another story unfolding. In dozens of visits since the 1970s to McMurdo Station, the main U.S. Antarctic base, he has studied toothfish in the Ross Sea. Each day while there, he rode a snowmobile several miles out onto the sea ice covering McMurdo Sound. He fired up a winch and hauled 1,500 feet of cable and fishhooks up through a hole in the ice. He often found a dozen toothfish snagged on the hooks; he tagged and released most of them.
"We could catch them in great numbers and did so for 30 years," he says -- but no longer. Dr. Devries caught not a single fish in the summer of 2006. He and his students have caught only a couple dozen toothfish since then -- less than a tenth of their previous catch -- and the fish are smaller. "The fishing industry must be taking enough of the population so that they don't come into McMurdo Sound in the numbers they used to," he says.
The current health or peril of the Antarctic toothfish population remains unresolved. So does the fundamental question of how much the world's most pristine waters should be fished, period, and that is becoming a political problem. In November, a proposal to set aside 500,000 square miles more of the Ross Sea as an unfished preserve was vetoed by Russia, Ukraine, and China.
Telltale signs suggest that the southern continent holds other resources, whose discovery could pose difficult political questions.

Glint of gold lures a helicopter to land

Laura Crispini first glimpsed one of those signs out the window of a helicopter passing low over the Bowers Mountains in Antarctica on Dec. 8, 2005. The helo was following a ridge of greenish rock rising above the glaciers when she spotted a band of yellow-white stone slicing across it.
Dr. Crispini, a geologist from the University of Genoa in Italy, had come here to map tectonic faults -- but the discovery of this particular fault would have implications beyond basic science. She asked the pilot to land, and she scrambled with a co-worker down the ridge, past bands of white quartz and iron-rich carbonates many feet across. Near the center of the white zone she saw a metallic glint in the rock: narrow, stringy veins of gold, pure and soft enough to dint with her pocketknife.
The veins had formed millions of years before as superheated water and carbon dioxide, from thousands of feet below, spurted up like espresso through cracks, leaching trace amounts of gold from the stone along the way. The fluids cooled as they rose, and the gold that had accumulated in them coalesced into metallic crystals.
Antarctica may hold plenty of mineral resources. Three hundred million years ago, it lay at the center of a supercontinent, Gondwana, which also included South America, Africa, Australia, and New Zealand. Folding of Earth's crust caused plumes of magma and superheated fluids to rise, concentrating minerals near the surface of Gondwana: copper, tin, silver, lead, and zinc along what are now the South American Andes; and gold, copper, lead, zinc, nickel, and cobalt in southeastern Australia.
"Just by extrapolating, you might expect that Antarctica should have geology similar to those other continental areas," says John Goodge, a tectonic geologist at the University of Minnesota Duluth. He and others have reconstructed the jigsaw puzzle of Gondwana to identify where these same mineral-rich belts cut through Antarctica.
Harsh climate and ice cover pose extreme barriers to profitable mining in Antarctica, but this hasn't stopped the topic from coming up. In the 1980s a group of nations including the US and Russia sought to negotiate a framework within the Antarctic Treaty that would permit drilling and mining. But it was vetoed by France and Australia, and a ban on mining and drilling was adopted in 1991; it runs through 2048. But that may not be the end of it.
"The question of mineral exploitation hasn't gone away in Antarctica," says Anne-Marie Brady, a specialist in polar politics at the Woodrow Wilson International Center for Scholars in Washington, D.C.
As the Antarctic Treaty has grown in recent decades, some nations eager to join it and build bases in Antarctica appear to have long-term interest in the continent's mineral and energy resources. A number of countries fall equally within this category, including Russia, Ukraine, Belarus, China, Korea, and India -- but as a Mandarin speaker, Ms. Brady has performed an especially large number of interviews and reviews of government documents in China. "The mainstream point of view" in China, she says, "is that it's only a matter of time that Antarctic minerals and energy resources will be exploited."
Conditions in Antarctica will be tough, but rising commodity prices and improving technology may eventually make it worthwhile, says Brady: "People whom I've talked to in China about this issue, they're confident that the technology will be worked out."
These discussions of resources fly beneath the radar, confined to a country's native language, but signs surface now and then. For example, there were reports published in 2013 by Ukrainian scientists prospecting for offshore natural gas in Antarctica. If minerals or hydrocarbons are harvested even decades from now, the land claims, human settlements, and symbolism employed by countries like Argentina and Chile will make sense. "It builds up arguments for a future that the Antarctic Treaty will be renegotiated," Avango says of a time when territory claims that the treaty put in limbo could well be revived.
The U.S. has no territorial claim in Antarctica but maintains the right to make one in the future -- and has by far the largest research footprint there: McMurdo Station alone houses 20 percent of the continent's 4,400 summer inhabitants. McMurdo is nourished by a tenuous lifeline: Two ships each summer deliver 7 million gallons of fuel and 10 million pounds of food and supplies. The ships could never make it if not for an icebreaker that clears a path through six feet of sea ice choking McMurdo Sound. But from 2006 to 2013, the U.S. possessed only two functional icebreakers -- forcing it to hire vessels from Sweden and Russia for this vital task. And in October, the U.S. Antarctic Program faced an undignifying setback as the government shutdown disrupted cargo flights and summer preparations at McMurdo -- canceling or postponing research projects that had been planned for half a decade.
Every nation that hopes to play a role in shaping the future of the poles -- whether for exploitation, territory, or conservation -- will require certain strategic assets: scientific research that maintains prestige and expertise; well-placed ports, airfields, and research bases in the polar regions; experience landing and launching large military cargo planes on glacial ice; and, of course, icebreakers. Negotiating a future for the poles will take decades, beyond the oft-shortsighted view of politics, elections, and funding cycles. But the outcome of that process could be profound, influencing the world's political, economic, and environmental order for a century to come.
Douglas Fox is a northern California based science and environmental writer whose work has appeared in the annual anthology "The Best American Science and Nature Writing," as well as in The Christian Science Monitor, National Geographic, Nature, and Scientific American. His last trip to Antarctica -- a two-month expedition in 2013 with scientists looking for life in subglacial Lake Whillans -- was funded by the National Science Foundation. 

400,000 gallons of crude oil spilled in North Dakota train crash


About 400,000 gallons of crude oil spilled from 18 rail cars after after a Dec. 30 derailment near Casselton, N.D., the National Transportation Safety Board said in a preliminary investigation report Monday.

An ensuing explosion sent a massive mushroom cloud of fire above the prairie and forced the evacuation of 1,400 residents.
Damage was estimated at $6.1 million, the NTSB said.
The accident occurred when a BNSF Railway grain train derailed on the  westbound tracks, obstructing the eastbound tracks less than a minute before the 106-car oil train arrived.  

The NTSB's preliminary report shed little new light on what may have caused the grain train to derail. Twenty-one cars on the oil train derailed, including 20 carrying crude and one carrying sand ballast.
Both trains were under the 60 mph speed limit for freights. The oil train was traveling at 43 mph when the crew triggered emergency brakes, and had slowed to 42 mph when it crashed into a car obstructing its track.  The grain train was traveling about 28 mph when it derailed.

The cause of the grain train's derailment remains under investigation. The NTSB has shipped a broken axle and two wheels from that train to its laboratory in Washington for analysis.

In an earlier statement, investigators said they could not be sure whether the broken axle caused the crash or resulted from it. Investigators also said in the earlier statement that the derailment occurred on or near a switch to a side track,  although the switch appeared to be properly aligned.

In the days after the accident, the Pipeline and Hazard Material Safety Administration issued a safety alert that the Bakken crude being hauled by the BNSF train was more flammable than expected. The agency, which is part of the federal Transportation Department, said it was conducting further investigation into the crude's flammability.

Over the last six months, there have been five major rail accidents in North America, including one Wednesday in New Brunswick, Canada, in which crude hauled in tanker cars burned or exploded. 

2014年1月13日星期一

Few asteroids are worth mining, suggests Harvard study


A new study might contain some bad news for companies hoping to mine asteroids for their valuable ores.
In the last couple of years, start-ups - including one backed by Sir Richard Branson - have announced plans to extract resources from space rocks.
But calculations by Dr Martin Elvis suggest our cosmic neighbourhood might not be such a treasure trove after all.
The Harvard astrophysicist argues just 10 near-Earth asteroids might be suitable for commercial-scale mining.
But Eric Anderson, co-founder of asteroid mining company Planetary Resources, told BBC News that the values quoted in the study were off - conservatively - by a factor of 100.
Dr Elvis, from the Harvard-Smithsonian Center for Astrophysics in Cambridge, US, has developed an equation to estimate the number of asteroids in the Solar System that could be exploited in a cost-effective way.

Start Quote

All-in-all, asteroid mining may be a plausible future space industry. But it would require significant capital investment”
Prof Alan FitzsimmonsQueen's University Belfast
His research paper is in press at the journal Planetary and Space Science, and has been posted on the pre-print server Arxiv.org.
In 2012, Planetary Resources, backed by billionaire investors including Hollywood director James Cameron as well as Google executives Larry Page and Eric Schmidt, unveiled their vision of using robotic spacecraft to squeeze the chemical components of fuel as well as minerals out of asteroid rocks.
Several months later, the company was joined by a competitor - Deep Space Industries - which plans to use low-cost spacecraft called Fireflies and Dragonflies to reconnoitre and return samples from near-Earth asteroids.
Advocates of asteroid mining say it could turn into a trillion-dollar business, but some experts have been sceptical of the idea.
Concentrating efforts
In the latest study, Dr Elvis worked out the factors that would make an asteroid commercially viable to mine and what fraction of known space rocks met these requirements. He emphasised there were large uncertainties in the values and called for more thorough surveys of what's out there.
He assumed that mining operations would want to focus on iron-nickel asteroids (known as M-type), considered the most promising targets for finding so-called platinum-group metals. These include platinum, along with iridium, palladium and others.

Start Quote

We've been studying this with some of the brightest people in the world for the last three years. We are intimately familiar with the risks and other factors”
Eric AndersonCo-chairman, Planetary Resources
These are rare in the Earth's crust because they dissolve in molten iron, instead being mainly concentrated in the planet's core. Platinum and palladium are the most economically important, having a wide range of uses in industry. But according to the analysis, just 1% of near-Earth asteroids are rich in these elements.
Suitable asteroids also need to be relatively easy to reach, further narrowing the pool by ruling out all but the nearest objects to Earth. The operative parameter here is delta-v - the change in velocity needed to send mining equipment to the target and return with a larger mass of ore.
The size of the target is also a factor; the paper suggests it wouldn't be worth mining asteroids smaller than about 100m because the total value of the ore they would produce wouldn't be enough to cover the costs of a space mission.
However, Dr Elvis points out that the ore values in his analysis range from a low of $800m to a high of $8.8bn.
"Such a large range of values could greatly change the profitability of a venture, making more accurate assays necessary," he explained.
Broader range
But Eric Anderson pointed to what he said were key errors in the study.
"Number one, the author points to an assumption of only wanting to go to M-type asteroids," he told BBC News.
"Assuming we were only going after platinum-group metals, the most platinum-rich asteroids are the C-class ones." Fragments of these asteroids are known as carbonaceous chondrites when they fall to Earth.
In addition, Planetary Resources' engineers were prepared to include objects that required a delta-v of 7km/s, a more ambitious limit than the 4.5km/s used in Dr Elvis' study.
"I think the study is probably off by a factor of 100, conservatively, and I think it's off by a factor of 1,000 optimistically," Mr Anderson added.

"We've been studying this with some of the brightest people in the world for the last three years. We are intimately familiar with the risks and other factors.
"We have only discovered 1% of the asteroids in the Solar System - and we are discovering them at a larger and larger rate. We discover two or three asteroids a day. If we get from 1% to 10%, then the 650,000 asteroids we have discovered jumps to 6.5 million."
The analysis also looked at the number of asteroids that could be profitably mined for water, which could be used in space for life support or separated into hydrogen and oxygen for rocket fuel. The number of suitable water-bearing asteroids larger than 100m was around 18.
Dr Elvis told BBC News: "I want to stress that my paper does not mean that there is no commercial future for asteroid mining. It does mean that gold mines are rare, which shouldn't be too surprising. Not every mountain on Earth hides a fortune, and not every flying mountain in space will either."
Still unknown
Prof Alan Fitzsimmons, from Queen's University Belfast, UK, who was not involved with the study, said the calculations were "plausible", but that he would have placed even more emphasis on the uncertainties.
"The make-up of small near-Earth asteroids is still relatively unknown," he told BBC News.
"There are large uncertainties in the total number of platinum group-rich asteroids that come near the Earth. This is because it is still difficult to unambiguously determine the mineral makeup of small asteroids.
"We know they exist, as pieces are found as meteorites on Earth. The small asteroid that formed Meteor Crater in Arizona some 50,000 years ago was one such object."
Dr Elvis added: "Any individual number in my paper can be improved on (and I discuss this at length), but the bottom line is not likely to change.
"I talk about maybe reaching 100 platinum-rich asteroids if we relax the tough rocketry limitation I imposed (delta-v), but getting to 1,000 will be hard, until we can get to the Main Belt asteroids."
Prof Fitzsimmons said: "All-in-all, asteroid mining may be a plausible future space industry. But it would require significant capital investment to start such an industry. The practical problems of mining, refining and transport back to Earth are still unsolved right now."


2014年1月7日星期二

Canadian resources, mining sector optimistic despite less business – Hays


 Skills shortages remain top of mind for Canadian resources and mining sector employers, after 75% of companies polled in a recent international recruitment agency Hays Canada survey described the shortage as “moderate” to “significant”.
Hays Canada’s ‘2014 Salary Guide’, which collected data from more than 150 industry-specific employers in November, had found that the Canadian resources and mining sector experienced a drastic reduction in business and hiring activity in 2013.
The survey found that there was a 30-point difference between expected and real decreases in business activity last year. Eleven per cent of the respondents expected a dip in activity, and yet 42% actually experienced one.
This translated into fewer people being hired for permanent positions. Ten per cent of businesses expected to decrease their permanent headcount in 2013, when in fact 45% did.
When asked about potential causes for skills shortages 24% cited a lack of training and professional development, while 39% thought too few people were entering the labour market.
SILVER LINING
However business optimism remained high, perhaps owing to a resurging forestry industry. Almost half (45%) of Canadian resources and mining employers expected business activity to increase in 2014, and a quarter (25%) expected permanent staff levels to increase, while half (51%) expected staff levels to stay the same.
“During the downturn we anticipate that larger owner operators will focus on efficiency projects and hire improvement and maintenance professionals to reduce the cost of production. It’s also possible that mining professionals with highly transferable skills will move over to the forestry industry because of rising global demand for timber; particularly process and mechanical engineers and maintenance staff,” Hays Canada president Rowan O’Grady said.
The survey found that 28% of employers believed that the economy would strengthen in the next 6 to 12 months, while 60% believed it would remain the same.
Twenty-five per cent of employers expected permanent staff to increase in the upcoming year, as opposed to 24% expecting it to decrease, and 51% expecting it to remain the same.
When it came to salaries, 44% of employers expected to increase salaries by 3% over the next 12 months, 32% expected to increase salaries by 3% to 6%, and 4% expected to increase salaries by 6% to 10%.
The top five benefits offered by Canadian employers included extended health benefits; individual performance-related bonuses; more than ten days vacation for new hires; pension/registered retirement savings plan contribution matching; and training and/or certification support.
KNOWLEDGE TRANSFER
There were, however, several options at employers’ disposal, despite the frustration at the inability to find skilled professionals, particularly at the mid-management level, where there was additional pressure to fill vacancies.
Hays said it was possible to hire a slightly less experienced candidate with transferable skills who could be trained and mentored to develop into the ideal employee. However, employers would have to invest more in their human capital to achieve the desired results.
Succession planning should also play a role. Knowledge transfer would become a critical issue for many companies that would lose the baby boomer generation to retirement in the coming years. While 57% of companies had or were implementing a succession plan, that number was too low.
“Unsuccessfully transferring knowledge from one demographic to the next would only serve to exacerbate shortages in all industries,” Hays said.

Here are 3 Canadian projects with new gold, uranium targets about to be drilled


Always with a focus on new targets, today I hit on three projects: two gold and one uranium, all located in Canada. 
NELLIGAN PROJECT, QUEBEC
Vanstar Mining's president and CEO Guy Morisette filled me in last week about Vanstar's coming drill program at the Liam target on the Nelligan gold project in Quebec. Nelligan, and the Liam target have been lightly drilled with some strong intercepts late last year. Vanstar cut as much as 12 metres @ 4.69 g/t gold
Weather permitting, Morissette said drilling would start mid-January. The scale of the program might grow, depending on initial results, but would start off with about1,000 metres in six drillholes peppered along strike a 900-metre-long gravity anomaly at Liam. So far it's mostly undrilled apart from a handful of drillholes at its southeast extent, which produced the aforementioned intercept (image below). Morissette said several geologists, looking at results so far, have told him it looks like "strong system."
The Nelligan project is in the vicinity of TomaGold's Monster Lake project (which is 15 km to the northwest) where intercepts began picking up high grades last year. Iamgold subsequently optioned Monster Lake.
TSX-V: VSR
24.3 million shares outstanding
C$3.6 million marketcap
C$0.15 shareprice

2014年1月6日星期一

About 1,000 shortlisted for one-way trip to Mars


A mission to build the first human settlement on Mars, which drew 200,000 applicants, said it has already shortlisted about a thousand candidates who will now be tested to come up with a final list of 24 people who will go live in the red planet by 2025.
Mars One, a Dutch non-profit agency said the finalists would undergo eight years of extensive training before launch. They must be happy with the idea of never returning to this planet — Mars One's mission is a one-way trip.
The 1,058 candidates who got through to the first round came from all over the world, said the organization. By far the largest number —297— is from the US, followed by 75 Canadians and 62 Indians.
Those who were not selected in this round, still have a chance to reapply at a later, but still undetermined date, said Mars One co-founder Bas Lansdorp.
“US astronaut Clayton Anderson was rejected by NASA for its astronaut training program 15 times, yet in 2007 he boarded the Space Shuttle Atlantis for a trip to the International Space Station. He proved anything can happen and the door is never completely closed,” he said in a statement.
The estimated cost of the mission is close to $6 billion, and Mars One plans to broadcast every aspect of the mission in a reality-style TV program.
“We anticipate our remaining candidates to become celebrities in their towns, cities, and in many cases, countries. It’s about to get very interesting,” he added.
In November last year, the US space agency (NASA) partnered with asteroid mining firm Planetary Resources to detect, track and characterize near-Earth objects (NEOs).