futrcash welcome to Caledonia Mining Corporation (CALVF) :-) good to see you @ CALVF GOLD Mine bargains -
Caledonia Mining Stefan Hayden, President & CEO, talks about exciting copper project in Zambia (March 2012) and Blanket Gold Mines - highly profitable gold producer in Zimbabwe, growing production and reducing costs, not needing additional capital to fund indigenisation or make investments, positioned to take advantage of growth opportunities in Zimbabwe and Zambia -
China Non-Ferrous Metal Company’s Luanshya Copper Mines (CLM) is set to recruit 1,000 employees in readiness for the beginning of production at the Muliashi open pit mine, taking the total number of workers to more than 3,000. CLM also plans to make an additional investment of more than US$150 million to rehabilitate infrastructure at Luanshya Copper Mine in 2010.
As of 2009, Chinese mining companies had invested $768 million in Zambia, such as this copper mine.
A mine supervisor overlooks Metorox's Chibuluma copper mine, near Kitwe, Zambia. [Photo/ Agencies
“Whatever you may have read about a slowdown in China, don’t let it fool you. China is still buying loads of resources, with copper one of the ones leading the way. Lately many China-related headlines have sounded the theme that the Chinese economy is losing stream. And it’s true that – as Beijing’s leaders intended – growth has moderated from its former breakneck pace. For the month of December, year-over-year growth in imports slowed to 11.8 percent, the lowest rate in two years (though still not what anyone would call a snail’s pace). GDP growth for 2011’s fourth quarter will likely have dipped to below 9 percent.
At the same time, however, Chinese copper imports in December hit nearly 509,000 tons, up 47.7 percent from year-earlier levels and a record high.
This should dispel any notion that China’s demand for resources will grow tepid. While the number might reflect some seasonal factors – for example, stocking up ahead of the Lunar New Year holiday – the figure is still impressively high. It also tells us that China doesn’t believe current price levels, with copper less than $4 per pound, will fast for long. If China did expect copper to remain cheap indefinitely, it wouldn’t be buying so much now, especially given the continuing soft outlook for the global economy. As we’ve noted previously, the Chinese are long-term thinkers who plan decades ahead. They have obviously grasped that the world is moving towards an urgent resource crunch. So even if they can’t use all the resources they’re buying now, they’re perfectly willing to stockpile them for later. China has ambitious energy plans, including massive investment in a nationwide power grid that will make feasible widespread use of renewable energy sources. Copper’s high conductivity makes it the key material for electrical grids. Clearly, China’s huge demand for copper is part and parcel of its development of an alternative energy infrastructure, and indeed, the power sector accounts for around half of China’s copper consumption. While Washington remain hyper partisan and gridlocked, China is moving full stream ahead to secure its future energy independence. And while China isn’t going to floor the accelerator as it did a few years ago, recently, with inflation stabilizing and growth moderating, it appears to have switched into easing mode to ensure the economy won’t decelerate too much. In early December, the People’s Bank of China cut the capital reserve requirement for banks for the first time in almost three years, likely portending a series of moves this year to stimulate domestic consumption and stave off any ill effects from Europe’s travails. Beijing is keeping its thumb on the economy’s pulse and won’t allow a drastic slowdown, which could foment social unrest. So look for China to avoid the oft-trumpeted “hard landing” and continue to be the driver of global growth. partly cont. by S. Leeb,
The Konkola Copper Mine in Zambia, which produces more than 200 000 tons of copper a year. File photo
South Africa's Standard Bank said it has provided a $500 million loan facility to Zambia's largest mining company, Konkola Copper Mines, a unit of London-listed Vedanta Resources.
4 Shaft project which is part of Vedanta's Konkola Copper Mine's (KCM) deep ...basilread.com
Konkola Copper Mine (KCM) The No. 4 Shaft project which is part of Vedanta’s Konkola Copper Mine’s (KCM) deep mining project (KDMP). In June 2006, TWP was awarded the design of the headgear, shaft steelwork and underground and shaft rock handling systems for the new 1, 5 km deep No. 4 Shaft. The new shaft is being sunk by the main contractor, Grinaker- LTA, which is also deepening the existing No. 1 Shaft from 1 km to 1, 5 km. In addition to the shaft design, TWP is involved in designing the underground pumping and settling system, general electrical reticulation and control as well as instrumentation associated with the project.
The sinking portion of the permanent steel headgear was designed to South African standards and the contract for manufacture was awarded to DSE Structural Engineers and Contractors in December 2006. Delivery of the sinking portion of the headgear began in March 2007. At the request of the client, TWP designed the permanent portion of the steel headgear to Chinese “GB” standards utilising Chinese grade steel. The design of the permanent headgear was completed in March 2007 and the contract for the manufacture of this portion of the headgear was awarded to a Chinese supplier, Shanghai Matsuo Steel Structure Co. Ltd.
Caledonia Mining Corporation NAMA Mining Properties -
Caledonia Mining NAMA Konkola Project -
Konkola Copper Mine Copperbelt Zambia -
Caledonia Mining Corporation NAMA Konkola Copper Drill Targets -
Bright future in growing industry - Zambia is currently ranked as the world’s seventh largest copper producer – generating 3.3 percent of the western world’s production – and Bloomberg’s recent note on the future of mining stated that the country could become the world’s fifth largest copper producer by 2013.
Nama Copper/Cobalt Exploration Project, Zambia: Summary of Results of the 2011 Exploration Programme and Outline of the 2012 Exploration Programme
TORONTO, March 12, 2012 /CNW Telbec/ -
Caledonia Mining Corporation (the "Company") (TSX: CAL) (OTCQX: CALVF) (AIM: CMCL) is pleased to announce the results summary of the 2011 exploration programme at its Nama Copper/Cobalt Project in Zambia and outline the exploration programme for 2012.
Highlights
The results from the 2011 drilling programme demonstrate a new and very exciting aspect to the Nama Copper/Cobalt Project
A new mineralised copper zone has been identified Estimated weighted average copper grade - 0.47%
Estimated weighted average thickness - 41 metres
Intersected depths of between 280 and 450 metres
A sufficiently large, near-surface resource up-dip from the existing drill holes may provide the basis for a future open- pit mining operation
The 2012 exploration programme will now commence as soon as possible and will include the following three phases of drilling:
Phase 1: 2,400 metre drill programme to explore for potential shallower up-dip continuation of the new mineralised zone to surface
Phase 2: 6,000 metre drill programme to explore for potential deeper down-dip continuation of the new mineralised zone
Phase 3: A possible resource drilling programme to quantify the shallower up-dip resources.
This phase cannot be finalised at this stage as the scope of this programme is entirely dependent on the evaluation of the
Phase 1 programme results. The costs of these drilling programmes will be fully funded from current cash resources.
Commenting on these exploration results, Stefan Hayden, Caledonia's Chief Executive Officer and President said: "The 2011 drilling programme at Nama identified a new and very exciting aspect to Nama.
What we have found differs markedly in mineralisation style to other properties in the region in that the zone we have identified occurs in an atypical Copperbelt setting and occurs in rocks overlying the Ore Shale.
This zone of mineralisation occurs at relatively shallow depth relative to the depth of the Ore Shale in the area and possibly extends to surface.
A sufficiently large, near-surface resource depth may therefore provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter. The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential. Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity."
Background to the Nama Project
Caledonia holds four, contiguous large scale mining licences covering approximately 800 square kilometres on the Zambian Copperbelt. The northern boundary of Caledonia's licenced area is the DRC border and the eastern boundary abuts the licence area that is held by a joint venture between Vale and African Rainbow Minerals where a new copper mine is currently under construction.
Prior to the 2011 programme, exploration activities had defined three main styles of mineralization in the Nama Licence area:
a) "A-type" cobalt oxide mineralisation; b) "D-type' iron oxide bodies which are mostly enriched in Cobalt; and c) Copper dominated ore shale hosted copper-cobalt mineralisation, commonly observed elsewhere in the Copperbelt and which is being exploited by neighbouring mines to the east and south of the Nama Licence Areas.
2011 Exploration Programme
The 2010 exploration programme identified two resource targets at Nama (being "Konkola East" and "Kafwira") which were characterised as belonging to the ore shale-hosted copper-cobalt style of mineralisation. The 2011 programme was focussed on Konkola East where a four-hole diamond drilling programme was carried out with the primary objective of confirming the existence of Ore Shale member of the Copperbelt stratigraphy. The results of this programme confirmed the existence of Ore Shale in all holes. The Ore Shale intersection in holes 1 & 2 was at depths and copper grades that do not merit further exploration at this stage. Evaluation of the drill core extracted from holes 3 and 4 identified a zone of mineralisation which occurs at considerably shallower depths than the Ore Shale and does not occupy a specific stratigraphic layer as would be expected. Assays of the mineralised zones identified in holes 3 and 4 were sufficiently encouraging to warrant a fifth hole being drilled in late 2011 and which also intersected the newly identified mineralised zone.
Preliminary Evaluation of the Results of the 2011 Drilling Programme
The new mineralised zone identified in holes 3, 4 and 5 is considered to be a contiguous zone. The assay results for the three intersections have a weighted average of 0.47% copper over a weighted average width of 41 metres at depths of between 280 and 450 metres. Holes 3 and 4 are approximately 1,650 metres apart representing a minimum strike length of the mineralisation. The interpreted structure of the mineralised zone suggests that the zone may extend to surface within the Nama Licence.
Although the copper grades of the newly identified zone are lower than existing mines in the region, the zone is relatively shallow and the ore mineralogy appears particularly suited to low-cost metallurgical processing.
2012 Exploration Programme
Caledonia's Board has reviewed the results of the 2011 exploration programme and the recommendations of management and has approved an exploration programme for Nama in 2012 which has the following objectives:
Phase 1: drilling of additional holes comprising approximately 2,400 metres with the objective of identifying a continuation of the newly discovered mineralized zone towards surface. This phase of the exploration programme is expected to start as soon as ground/weather conditions permit and results for this work are expected 4 to 5 months thereafter. Phase 2: drilling of additional holes comprising approximately 6,000 metres with the objective of identifying the nature of a deeper continuation of the above mineralised zone. This work will take place after completion of Phase 1 and is expected to take approximately 8 to 10 months. Phase 3: Provided the results of the Phase 1 programme are positive, a drilling programme focussed on delineating and evaluating resources compliant with NI43-101 will be presented to the Caledonia Board for approval prior to possible commencement. This Phase may commence during Phase 2 activities. Substantial additional exploration work may be required in future years to arrive at a NI43-101 compliant resource statement.
Caledonia has sufficient cash resources to cover all of the exploration costs for 2012. Caledonia intends to manage its cash resources so that it retains the financial capacity to progress this project as far as possible without requiring third party involvement or equity funding.
Dr Pearton, BSc Eng. (Mining Geology), PhD (Geology), and Fellow of the Geological Society of South Africa, is Caledonia's VP Exploration and a "Qualified Person" as defined by NI43-101. Dr Pearton consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
Caution Regarding Forward Looking Statements:
Information included in this release constitutes forward-looking statements. There can be no assurance that future exploration will identify mineralisation that will prove to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits that may be identified or that required regulatory approvals will be obtained.
Collins Stewart Europe Limited John Prior / Sebastian Jones Tel: + 44 20 7523 8350
Collins Stewart LLC Dan Mintz Tel: +1 212 389 8022 DMintz@collinsstewartllc.com
Further information regarding Caledonia's exploration activities and operations along with its latest financials and Management Discussion and Analysis may be found at
Source: Canada Newswire (March 12, 2012 - 8:32 AM EDT)
Caledonia reveals exciting new aspect at Nama project - 12 March 2012 | 10:00am StockMarketWire.com -
Caledonia Mining has revealed a new and very exciting aspect to the Nama copper/cobalt project in Zambia.
It said the latest drilling results differed markedly in mineralisation style to other properties in the region in that the zone.
It says this zone of mineralisation occurs at relatively shallow depth relative to the depth of the ore shale in the area and possibly extends to surface.
Chief executive and president Stefan Hayden said: "A sufficiently large, near-surface resource depth may therefore provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter.
"The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential."
Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity.
At 10:00am: (LON:CMCL) share price was +0.25p at 7.75p
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