Elvis has left the building

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THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.


Appointment and resignation of company directors
 
RMG Limited (ASX: RMG) has appointed Michael Griffiths as a non – executive director.
 
Griffiths is president of TSX-V listed Currie Rose Resources INC, non- executive director of ASX-listed Tiger Resources (ASX: TGS) is an alternate director on the board of Chrysalis Resources (ASX: CYS).

He also currently serves as a consultant to Chalice Gold Mines (ASX: CHN)

RMG also announced the resignation of both Steven Chadwick and Mark Stevenson.


Appointment of executive director
 
Rum Jungle Resources (ASX: RUM) announced the appointment of Chris Tziolis as an executive director to the company’s Board.

Tziolis is currently employed by the company as its Director of Development Projects.

“We are very pleased to see Chris elevated to the Board as an executive director,” Rum Jungle Resources managing director David Muller said in the company’s ASX announcement.

“During his time with the company he has been instrumental in advancing the company’s Barrow Creek 1 phosphate project through its scoping study and we are confident that he will successfully guide the company through its various feasibility studies, leading it towards ultimate development.”


 New director appointment

Latin Resources (ASX: LRS) has appointed Liu Zhongsheng as a non-executive director.

Liu Zhongsheng is currently an executive director and the chief executive officer of Junefield Department Store Group Limited, a company listed on The Stock Exchange of Hong Kong Limited.

Frankie Li has been appointed as an alternate director for Lui Zhongsheng.


Paul Cronin joins Anatolia Energy
 
Anatolia Energy (ASX: AEK) announced the appointment of Paul Cronin to the management team of the company.

Prior to joining Anatolia, Cronin was Vice President at RMB Resources, the specialist resource financing division of FirstRand Bank.

He was formally Director of Nuclear Origination, with Constellation Energy and lead the acquisition of uranium trader Nufcor International in 2008.

“The addition of Paul to our management team is not only reflective of the calibre of the company’s projects, but will enable Anatolia to quickly implement the strategies identified for financing the Temrezli project into production,” Anatolia Energy managing director Jim Graham said.

“We are very pleased that Paul has accepted our offer to join the company”.


Closure of Perth office and appointment of new MD

Grange Resources (ASX: GRR) announced the company’s Perth office will close with all remaining Perth based functions relocating to the company’s Tasmanian office in Burnie in June 2013.

“This change is consistent with Grange’s current operational focus and previous announcements,” Grange Resources chairman Zhiqiang Xi said.

As a consequence of the restructure managing director Richard Mehan will leave the company.

Wayne Bould, most recently the company’s chief operating officer, has joined the Board as managing director with effect from 4 June 2013.

Bould is currently president of the Tasmanian Minerals Council.


Board Changes

Following cost review initiatives Zambezi Resources (ASX: ZRL) has announced that Richard Procter, Simon Durack and Emmanuel Henydrickx have resigned as directors of the company.

They have been replaced on the Board by the appointment of the current executive team of Frank Vanspeybroeck (CEO) who is appointed as the company’s managing director and Marinko Vidovich (Project Manager), who is also appointed as CFO.

“The appointment of Messrs.’ Vanspeybroeck and Vidovich as directors will strengthen the Board and bring technical experience and expertise as the company prepares for the next stage of development of its 100 per cent-owned Kangaluwi copper project in Zambia.” Zambezi Resources non-executive chairman David Vilensky said.


Director Resignation

The Board of Altius Mining (ASX: AYM) advised the market that David Herszberg has resigned as non-executive director.
 
Herszberg has been a director of Altius since February 2012, and has resigned due to an increasing number of other commitments.


Enerji appoints new MD

Enerji Limited (ASX: ERJ) has appointed energy sector specialist Colin Stonehouse as the company’s new managing director and chief executive officer.

The appointment comes after the resignation of Greg Pennefather as MD and CEO.

Pennefather is the founder and developer of Enerji’s Waste Heat to Power Systems (WHPS).

He has agreed to continue with Enerji in a consulting capacity.

The resignation and new appointment will be effective from formal commissioning of Enerji’s first WHPS at Horizon Power’s Carnarvon Power Station.

“These arrangements have occurred as part of succession planning by the board, with Greg’s participation, over the past 12 months,” Enerji chairman Ian Campbell said.

“It was desirable for Greg to see us through to the major milestone of commissioning of Carnarvon.”


 Resignation of Managing Director

Terramin Australia (ASX: TZN) advised that Nic Clift has resigned from his position of managing director and chief executive officer.
 
Michael Kennedy, Terramin’s chairman, will assume executive functions for the immediate future.


Appointment of non-executive director

Ord River Resources (ASX: ORD) announced Michael P Lee has been appointed as a non-executive director.

Although semi-retired, Lee is a non-executive director of Kakande, an alumina project company with bauxite rights in Guinea.

He is also a Senior Adviser – Middle East to Apache Capital, a UK property  company with its  Middle East regional office in the Kingdom of Bahrain; and is an Adviser to Noora Bushehri Law Firm, also based in the Kingdom of Bahrain.


Acquisition of Korean Resources and MD appointment

Directors of Desert Mines and Metals (ASX: DSN) has acquired Korean Resources Limited.

As a result Desert also announced the appointment of Chris Rashleigh as managing director of the company.

Rashleigh is a director of Korean Resources and has been instrumental in establishing its corporate and exploration activities in South Korea.

Dr Robert Taylor has retired from the Desert board.

Beadell Resources commissions iron ore plant in Brazil

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THE BOURSE WHISPERER: Beadell Resources (ASX: BDR) has produced the first iron ore concentrate from the company’s newly-commissioned Magnetic Separation plant in Brazil.

This concentrate is being extracted from the tailings at Beadell’s Tucano gold plant as a by-product.

Beadell anticipates the concentrate to provide a substantial financial credit to its gold operation.

The plant was constructed on time and within the company’s budget of US$11.7 million with commissioning and generation of first product achieved on 27 May.

The company said the plant will now be optimised to maximise the yield of plus-65 per cent iron concentrate.

 

Iron ore concentrate plant. Source: Company announcement

 

The plant consists of three drum magnets as the primary part of the circuit and an additional three cleaning drum magnets followed by a ceramic filter to reduce the moisture of the magnetite product.

The commissioning team is in the process of training and handing over the plant to the operational team.

“This project was completed ahead of schedule and within budget,” Beadell Resources managing director Peter Bowler said in the company’s announcement to the Australian Securities Exchange.

“I am very pleased with our experienced in-house project team which has worked hard to achieve this outcome.

“We are committed to continuing investigation of further cost-saving initiatives at our Tucano gold mine to ensure our cost of production is within the bottom quartile globally.”

The iron ore concentrate Beadell will produce is the subject of an off-take agreement with the Anglo Ferrous group, which operates a large iron ore mine five kilometres from the Tucano mine site.

Payment for the product will be received once Anglo’s ship loading facility in the nearby port of Santana is reinstated in the next few months.

In the meantime, as operating costs are negligible, the high-grade concentrate will be stockpiled in readiness for shipment.

At current iron ore prices, Beadell said the concentrate produced is expected to generate net income of approx. US$30 per tonne and has the potential to reduce the Tucano gold operation’s monthly cash cost by approx. US$1 million.

FairStar loads up with $260 million funding deal

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THE BOURSE WHISPERER: FairStar Resources (ASX: FAS) has secured an irrevocable commitment for $260 million – equating to 80 per cent of funding for the company’s Steeple Hill Iron Project (SHIP), located in the Yilgarn region of Western Australia.

FairStar has struck the funding deal with Alliance Super Holdings, which the company said will transition SHIP to production via a 50/50 profit sharing Joint Venture.

FairStar indicated that as part of its business plan and budget, all the company’s debts will now be retired leaving it debt free.

The company has also secured a line of credit totalling $640 million above and beyond the $260 million invested in SHIP by Alliance, which it said was well in excess of the $320 million capital and funding requirements for the project.

FairStar has confirmed Alliance has the funds in place with the only outstanding requirements to meet being FairStar to secure its 20 per cent and the formal execution of the JV agreement.

The funds have already been earmarked to fund construction and commissioning of a plant at SHIP, as well as for associated infrastructure and working capital.

FairStar said it was already in negotiations with four parties to secure the remaining 20 per cent funding and an offtake agreement covering up to 80 per cent of the initial JORC code-compliant 20 million tonne Indicated Resource plus four million tonnes of ultra-fines.

“The future prospects for FairStar have never looked better and this agreement means the company can retire debt and will emerge debt free, while the 50/50 profit sharing joint venture will have significant funding at its disposal well and above that required to transition SHIP into production,” FairStar Resources managing director Kevin Robertson said in the company’s announcement to the Australian Securities Exchange.

“This is a significant milestone for FairStar and the company wants to thank all its loyal shareholders for their continued support through some challenging times.”

The company expects the funding to enable it to continue its work of delineating the full mineral potential at SHIP.

JORC Resource drilling is also anticipated to commence at the company’s North SHIP tenement as soon as possible.

“A full program of works for North SHIP has been approved and in house estimates believe it is possible that the total amount of ore at North SHIP could be multiples of SHIP,” Robertson said.

“The vast unlocked potential of our SHIP and North SHIP deposits means we are literally looking at the tip of the iceberg in terms of future value for the company.

“We are confident the Alliance Super Holdings transaction will put FairStar on the map as an emerging powerhouse in Western Australian resources.”

Global Geoscience strikes major copper JV agreement with Antofagasta

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THE BOURSE WHISPERER: Australian exploration company, Global Geoscience (ASX: GSC) has formed an alliance with global Chilean copper major, Antofagasta to explore for copper in the United States.

Global Geoscience has signed a non-binding letter of intent with Antofagasta to search for copper in Arizona in the United States of America.

Antofagasta will fully fund the alliance, while Global will be the operator, including for the first two years of any project the major judges to be a Designated Project.

“The proposed exploration alliance with Antofagasta is a major development for our company and a strong endorsement of our focus on greenfield exploration,” Global Geoscience managing director Bernard Rowe said in the company’s announcement to the Australian Securities Exchange.

“The alliance will allow Global to explore and rapidly advance its targets in one of the world’s great copper provinces.

“Combined with our existing partnership with another large producer – Osisko Mining – for gold in Nevada, Global will have a very significant copper and gold presence in south-western USA.”

Global explained the initial focus of the alliance will be 13 target areas it has identified using its in-house targeting method.

The alliance will complete reconnaissance exploration on the 13 targets and, where justified, conduct follow-up exploration and apply for and/or acquire tenure.

Antofagasta has the right to select any or all of the targets for further exploration, and these will be deemed Designated Projects.

The copper major will then have an option to earn a 51 per cent interest in any Designated Project by spending US$1 million within two years.

It has a further option to increase its interest from 51 per cent to 70 per cent by spending an additional US$4 million over an additional four years.

Expenditure requirements are per project.

The alliance is conditional upon the two entities completing a formal agreement.

Antofagasta is one of the world’s largest copper producers with four operating mines in Chile.

Orbis Gold to cash in from tenements sale

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THE BOURSE WHISPERER: Orbis Gold (ASX: OBS) has entered into a Sale and Purchase Agreement with Syndicated Metals (ASX: SMD) for the sale of the former’s interest in the Leichardt project area tenements, located in the Mount Isa region of north‐west Queensland.

The granted tenements and tenement applications subject of the agreement include:

–    A minority (41.3 per cent) interest in tenements within the West Leichardt Joint Venture – which include part of the Barbara copper‐gold deposit; and

–    Four additional 100 per cent‐owned tenements and tenement applications.

 

Orbis project areas in the Mount Isa region. Source: Company announcement

 

Orbis indicated the $1 million cash payment it is to receive for the sale of the tenements will be used to advance the company’s portfolio of gold exploration and development projects in Burkina Faso, West Africa as well as providing working capital.

Orbis recently announced the discovery of a new gold deposit at the company’s Natougou prospect in eastern Burkina Faso, where it is currently in the final stages of completing a drilling program for a maiden resource estimate.

Completion of the sale to Syndicated Metals is subject to conditions which include:

–    Approval being given by the Queensland Minister for Mines for transfer of the 100 per cent Orbis‐owned granted tenements to Syndicated Metals; and

–    Syndicated Metals entering into a legally binding agreement with Exco Resources Limited in respect of the sale of Application for Mineral Development License (MDL) 499 (1).

These conditions are to be satisfied within 60 days of the agreement.

“The sale of the Leichardt project area tenements by Orbis is aligned with its strategy of seeking to divest its tenement interests in the Mount Isa region or to advance exploration by third party funding,” Orbis Gold said in its ASX announcement.

“Following completion of the sale Orbis will retain an interest in two exploration project areas in the Mount Isa region comprising the Gregory (Orbis 100 per cent) and Boomara projects (Xstrata earning up to 80 per cent).

The Gregory and Boomara projects both target large‐scale iron‐oxide copper‐gold deposits within interpreted concealed (buried) extensions to Mount Isa Inlier stratigraphy.

“Exploration within the Boomara project area is currently being funded by Xstrata Mount Isa Mines under an Earn‐In and Joint Venture Agreement.”

Minotaur and Falcon strike copper-gold JV in Cloncurry District

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THE BOURSE WHISPERER: Minotaur Exploration (ASX: MEP) has entered into a Joint Venture with Falcon Minerals (ASX: FCN) to explore for copper-gold mineralisation on two Falcon tenements in the Cloncurry district of northwest Queensland.

The Joint Venture into the two Falcon-owned tenements (EPM 18289 and EPMA18313) allows Minotaur to earn a 51 per cent interest by spending $250,000 over two years or a 75 per cent interest by spending a total of $750,000 over a total period of five years.

The JV considers the tenements, which cover approx. 165 square kilometres, to be prospective for structurally controlled IOCG mineralisation of the Ernest Henry, Eloise and Osborne styles.

 

Initial targets on magnetic imagery for the Ernest Henry Mine region northeast of Cloncurry. Source: Company announcement

 

Falcon’s tenement EPM 18289, is located 20 km southwest of Ernest Henry Mine, and in close proximity to two existing Minotaur tenements.

“A combined exploration program will now commence on the granted tenements with initial emphasis on gravity, EM and IP surveys over selected, variably magnetite-dominant targets along the margins of, and selected structural conduits to, Williams-Naraku granitic intrusions,” Minotaur Exploration said in its ASX announcement.

“Particular attention will focus on the Tino, Neutrino, Taurino, Mindino and Marino gravity +/- magnetic features.”

The announcement indicated Falcon’s EPMA 18313, which is located west of the Mount Dore, Mount Elliott, Selwyn and Merlin deposits, is expected to be granted later in the year.

A similar exploration program is planned for the tenement once this has occurred.

Arc Exploration picks up third Australian gold project

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THE BOURSE WHISPERER: Arc Exploration (ASX: ARX) has signed an Option to Farm-in Term Sheet on a gold project located in the Mount Garnet district of Far North Queensland.

The project is the company’s third gold property in Australia.

The Mount Garnet project is held 100 per cent under mining leases by private company Snowmist Pty Ltd.

According to Arc Exploration the project contains an advanced gold target the company considers to have potential to be expanded.

The company also intimated the ML’s also have potential for the discovery of new gold resources.

“The Mount Garnet project is the third area identified by our search for new gold and copper-gold opportunities in eastern Australia, Arc Exploration managing director John Carlile said in the company’s announcement to the Australian Securities Exchange.

“It provides ARX with a more advanced gold prospect with potential for expansion as well as several other gold targets within the leases that remain to be tested.

“As with the two previously announced options to farm-in in New South Wales at Oberon and Junee, Mount Garnet provides ARX with the opportunity to establish a foothold in a major gold and copper-gold producing district.”

 

Location plan showing Mount Garnet project area. Source: Company announcement

 

Key terms of the agreement are:

–    Subject to a 90 day exclusive due diligence period ARX may enter a two year option period for a payment of $50,000 to Snowmist and minimum expenditure of $150,000 during the option period;

–     ARX may then earn a 51 per cent interest by sole funding $500,000 within two years; and

–     ARX may then earn up to an 80 per cent interest by sole funding a further $580,000 within a further one year.

The Mount garnet project currently comprises three small mining leases located in the Hodgkinson Province.

The Triple Crown gold deposit is located on one of the mining leases and is described by Arc Exploration as being a gold-bearing quartz-sulphide stockwork and hydrothermal crackle breccia hosted in the outer shatter edge of a magmatic-hydrothermal breccia pipe that cuts granite porphyry and the metasedimentary country rocks.

The gold mineralisation at surface forms an annular pattern on the margin of the breccia pipe.

The company indicated similar gold deposits that have been mined in the region include Red Dome/Mungana (3 million ounces of gold) and Kidston (4 million ounces of gold).

Arc Exploration has been provided information by Snowmist, which it said indicates Triple Crown contains a modest-sized, low-grade gold and silver resource.

The company will assess Triple Crown further during its due diligence process.

Midwinter Resources farms-in to Chilean project

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THE BOURSE WHISPERER: Midwinter Resources (ASX: MWN) has entered into a binding term sheet with Southern Hemisphere Mining (ASX: SUH) to farm-in to a 65 per cent interest in the Mantos Grandes project located in the Province of Limari, in Chile.

Midwinter outlined the features of the Mantos Grandes project to include copper, gold and silver mineralisation, which occurs in outcrops and extends to depths of at least 130 metres below topographic surface exposure.

 

Mantos Grandes location plan. Source: Company announcement

 

The project has a history of production and provides underground access to mineralisation through a network of recently developed mine workings.

An extensive data-base exists of the project, which includes records of diamond drilling, rock chip sampling, underground adit sampling and production as well as a small scale (200 tonnes per day) conventional copper flotation plant.

“The company believes the project has strong potential for definition of high-grade copper mineralisation with significant gold and silver credits within the immediate area of the previous mining activity and within satellite targets identified from geological indicators,” Midwinter Resources said in its ASX announcement.

In a more-detailed description Misdwinter said Mantos Grandes is a hypogene, skarn related copper-gold-silver deposit, which has been mined using small scale underground methods.

According to the company geological data suggests that, in addition to the main skarn deposit, potential exists to discover secondary skarn mineralisation as well as porphyry style mineralisation within the lease areas.
 
“The Mantos Grandes copper gold project represents a target for high grade, hypogene, skarn related copper mineralisation with significant gold and silver credits,” Midwinter explained.

“The former mine exploited a number of moderately sized zones of mineralisation.

“Initial drilling would make use of the existing geological and mining database to target known mineralisation and potential extensions in and around the mine area.

“Surface and underground drilling would be used with the aim of establishing a JORC-compliant Mineral Resource.”

Midwinter indicated it intends to carry out geophysical and geochemical surveys to further evaluate existing prospects and bring new prospects to a drill ready stage.

Metals of Africa acquires East Africa-focused Express Resources

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THE BOURSE WHISPERER: Metals of Africa (ASX: MTA) has signed a binding Share Sale Agreement to acquire 100 per cent of the issued capital of Express Resources.

Express Resources is an unlisted Australian public company based in Perth, Western Australia, with offices in Maputo, Mozambique and Dar Es Salaam, Tanzania.

The company’s portfolio of projects includes eight granted exploration licences and numerous licence applications, of which Metals of Africa anticipates twenty to be granted within the next twelve months.

The projects are in significantly underexplored areas with minimal modern day exploration performed.

“The acquisition of Express provides the company with an unrivalled portfolio of exploration projects in what is largely an underexplored, highly prospective area of East Africa,” Metals of Africa chairman Gilbert George said in the company’s announcement to the Australian Securities Exchange.

“The company will have a well-balanced portfolio of advanced and early stage projects all exhibiting prospective geology for a variety of minerals.

“This is consistent with the company’s stated strategy of developing our project pipeline in East Africa, especially Mozambique, where we have established strong relationships with the government and already boast significant operational capacity.”

Express Resources’ founding shareholders have been living in East Africa – in particular Mozambique and Tanzania for the past two years reviewing projects and available exploration ground.

During this time Express has identified prospective geology in Mozambique and Tanzania based on anomalous geophysical and/or geochemical data.

Express followed up all this work by applying for, what it considered, the most prospective landholdings in these countries with all licenses applied for having undergone a detailed geological appraisal.

The project to emerge as the company’s major focus is the Tanga copper-gold project in Tanzania.

The Tanga project includes three granted licenses located in the Hardeni District, in the northeast of the country.

 

Reconnaissance RC drilling at the Tanga copper-gold project. Source: Company announcement

 

Express has previously conducted soil/rock chip sampling, trenching and a reconnaissance RC drilling program at Tanga, which identified regional soil geochemistry exhibiting elevated copper and gold across a large area which is considered deserving of exploration advancement in the form of additional soil sampling and drilling in order to determine the depth extent of copper-gold mineralisation

“The acquisition delivers Metals a “First mover” advantage in Mozambique and significantly reduces the time taken to develop such a project pipeline organically,” George said.

“The Express personnel will complement the existing Metals team in Mozambique.

“It includes a highly competent geological team capable of assessing multiple resource opportunities, with a history of significant project generation and exploration success in East Africa.”

Joint Venture provides Gold Road with exploration free kick at Central Bore

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THE BOURSE WHISPERER: A chance double meeting at two mining conferences in two different locations set Gold Road Resources on the path to a Joint Venture with a global mining heavyweight.

Gold Road Resources (ASX: GOR) made first contact with Japanese non-ferrous metals and mining company Sumitomo Metal Mining at a Precious Metals Summit in Colorado.

“A few weeks later we were at the 2012 RIU Resources Round Up in Melbourne when we saw somebody wearing a Sumitomo shirt walk past our booth,” Gold Road Resources executive chairman Ian Murray told The Roadhouse.

“He stopped and had a chat, next thing we knew we were sitting down having some serious conversations, which led us to where we are now.”

Where Gold Road is now is in a Joint Venture partnership with Sumitomo Sumitomo Metal Mining Oceania, a subsidiary of Sumitomo Metal Mining over the southern tenements of Gold Road’s Yamarna land holding in Western Australia.

 

Gold Road 100 per cent tenements and Gold Road-Sumitomo South Yamarna JV tenements. Source: Company

 

Under the terms of the South Yamarna JV, Sumitomo can earn up to a 50 per cent interest by funding $8 million of exploration activities over the period to 31 December 2016.

The terms of the agreement include:

–    Sumitomo Metal Mining must spend a minimum of $3.5 million prior to the end of 2014;

–    Sumitomo Metal Mining may earn a 30 per cent interest in the South Yamarna JV by spending $5 million; and

–    Sumitomo Metal Mining may increase its interest to 50 per cent by spending a further $3 million prior to the end of 2016.

“Entering a Joint Venture with a global mining company of Sumitomo’s history, experience and scale is a strong endorsement of the quality of the exploration opportunity Gold Road has throughout its Yamarna greenstone belt in Western Australia,” Murray said.

Sumitomo representatives came out and inspected the Yamarna site and, according to Murray, were impressed by the fact they could, through the JV, gain access to a greenstone belt the size of Yamarna in a politically safe country.

Murray said for him that was the moment that reinforced the strategic value of owning a greenstone belt like Yamarna.

“Yes, you have your short-term ups and downs with the gold price, but at the end of the day, where are the major companies going to find multi-million ounce discoveries?” he asked rhetorically.

The agreement covers 2,720 square kilometres of the Yamarna tenements and expands the company’s exploration activity well beyond the current six square kilometre Central Bore area at no cost to the company.

Sumitomo is required to spend a minimum of $1.75 million by December 2013 and a further $1.75 million by December 2014 to fund exploration of the southern Yamarna tenements.

The agreement includes the option to fund up to $5 million or $8 million by December 2016 to earn up to a 30 per cent or 50 per cent interest in the South Yamarna project respectively.

The deal basically shores up to $8 million in exploration funding that will be spent on bringing forward the testing of exploration targets on the southern portion of Gold Road’s tenements much earlier than the company had originally planned.

In a sense it practically doubles the $9.3 million Gold Road currently has in the bank as that can now be solely used to focus on its Central Bore project.

Gold Road plans to commence soil testing at Central Bore ahead of scheduled sub-audio magnetic (SAM) surveys with the intention to potentially commence drilling by October/November 2013.

Gold Road retains a 100 per cent interest at Central Bore and aspires to bring it into production by end-2014.

Central Bore is currently the subject of a prefeasibility study, which is anticipated to be completed by the end of June 2013.

 “Gold Road is focussed on progressing Central Bore through to production, as well as exploring its 100 per cent-owned northern tenements,” Murray explained.

“The Sumitomo JV has enabled us to make a conscious decision to bring forward the testing of exploration targets on the southern portion of our tenements by several years in order to give them the near term attention they deserve.

“Gold Road retains a 100 per cent interest in the northern tenements, which includes the Central Bore project, the Attila gold resource and surrounding exploration opportunities.”

Sumitomo Metal Mining is a major non-ferrous metal mining and manufacturing company, with expertise in gold and copper mining, owning the Hishikari gold mine in Japan and the Pogo mine in Alaska.

Sumitomo Metal Mining also has interests in some of the world’s largest copper (gold-molybdenum) mines with Rio Tinto (Northparkes, NSW), Freeport-McMoran (La Candelaria/Ojo del Salado in Chile, Cerro Verde in Peru and Morenci in USA) and KGHM Polska (Sierra Gorda in Chile).