Point Roberts, WA and Delta, BC – July 23, 2021 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts.
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Exploring Mining Podcast Episode 187 – News from (NYSE: RIO) (NYSE: NEM) (ASX: NCM) (TSXV: VML)
Rio Tinto Group (NYSE:RIO) has approved a $108 million investment in underground development at the Kennecott copper operations in the US. According to the press release, “Kennecott holds the potential for a significant and attractive underground development, with declared Mineral Resources of 20 Mt at 3.65% copper and 1.62 g/t gold1 with further upside potential based on drilling.” Bold Baatar, the Chief Executive of Rio Tinto Copper, said:
“Kennecott holds a range of options to extend our supply of copper and other critical materials, to meet the strong demand being driven by electric vehicles and renewable power technologies. The operation is uniquely positioned to supply these emerging markets, with one of only two operating smelters in the United States that also processes concentrates from third parties, a long history delivering high quality products and significant resources that are yet to be developed.”
Newmont Corporation (NYSE:NEM) has reported results for its second quarter 2021. Highlights include the production of 1.4 million attributable ounces of gold and 303 thousand attributable gold equivalent ounces from co-products. The attributable gold ounce figure represents an increase of 15 percent over the previous year’s quarter, owing to “higher production from sites that were placed into care and maintenance or experienced reduced operations in response to Covid during 2020.”
“We have made significant progress advancing our multiple organic gold and copper growth options during the quarter. At Red Chris and Havieron we commenced decline development works which are the critical path to reaching commercial production. We are also on track to release the outcomes of several of our exciting growth studies through the remainder of the calendar year which we believe will help articulate the future potential of our business.”
“Intensifying phyllic alteration is visibly evident in drill core from numerous Passiflora holes to the depth of around 200 meters. This information, paired with the known volcanic history of the region, suggests that a porphyry system could lie beneath.”
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