The company is trying to find the mine’s higher grade zones; it will then designate the barren zones as support pillars in its mine design.
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But only sliver of funds raised destined for mining and metals
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Oyu Tolgoi is expected to produce 125,000 to 155,000 tonnes of copper and 180,000 to 220,000 ounces of gold in concentrates this year.
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Given the positive feedback received following two sales events in New York, the company decided to increase the number of auctions in the United States this year.
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Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.
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The company’s Main Ridge project is located in an area where Spaniards mined placer gold in the 16th Century.
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General Franklimberg Ribeiro de Freitas’s return to the country’s Indigenous Rights Agency (Funai) is seen by many as positive, as the agency has lost funding and authority on land issues.
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The company says the deposits are higher grade than previously thought.
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The company is currently drilling its Coringa gold project and aims to update its resource by the end of 2019’s first quarter.
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The system achieved all key performance indicators.
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