NovaGold clears the decks for Donlin development
12th Jun 2012
JUNE 12 – NovaGold Resources will focus exclusively on its Donlin Gold project (50-50 NovaGold and Barrick Gold International) in Alaska, USA after agreeing to transfer the mothballed Rock Creek gold mine in Nome to the Bering Straits Native Corporation.
With 39Moz gold measured and indicated (541Mt at 2.2g/t), Donlin Gold is predicted to produce about 1.5Moz pa for the first five years followed by decades of 1Moz-plus pa.
CEO Gregory A Lang says NovaGold is committed to working with Barrick Gold’s new leadership and all key stakeholders to advance Donlin Gold up the value chain.
Lang says the Bering States Native Corporation, which owns substantial mineral rights in the Rock Creek region, has been involved in the mine closure and reclamation plans, and is well positioned to explore future opportunities there.
Also in the June 6 - 12, 2012 edition
- AFRICA
- Japan raises banner of hope for would-be developers
- Minbos confident of fast start
- ASIA DESK
- Elemental offers more food for thought
- CENTRAL ASIA
- Sihayo lifts Indonesia gold resource again
- COAL
- Aspirations beyond the great divide
- EVENTS
- It's show time for organisers
- EXPLORATION
- Indonesia in, Australia out for Kingsrose
- FINANCE
- BC looks afar for corporate evolution
- Indo cut will boost nickel
- FROM THE CAPITAL
- Iron ore profit forecasts defy market pressures
- GOLD
- Azimuth finding more gold, maybe a CEO
- HEAVY METAL
- Good year for OTR tyre supply ... coming soon
- INTERCEPTS
- $385M Russian gold deal on again
- $3M capital raising for Greenland tantalum quest
- Acquisitions boost Coal of Africa resources
- Adroit $536,000 raising
- Ambitious Eastern Resources’ 6-year plan for 500,000oz pa
- Ausenco named for Minas Rio project studies
- ‘Brown Sugar’ sweetener for Aust Bauxite
- Bell Copper’s Mexican project in default
- BHP snaps up more Dam land
- Big upgrade expected from Latin’s Peru project
- Brumby gallops to Oakover scoping study
- Buckley takes top role at Tiaro
- Castlemaine doubles Ballarat output
- Central Asia switches to toll-treatment route
- CMQ raising from major shareholder
- Crocodile rocks on gold-backed $74m facility
- Decmil to deliver new mining village
- Diamondcorp lifts tailing production
- Driller dies in ground fall
- Drummond denies Colombian coal assets sale
- Eastplats shuts CRM stopes for redevelopment
- Endeavour starts Cote d’Ivoire mine construction
- ENK to drill again at Zambales
- ERA approves $A57M Ranger Deeps study
- First Uranium’s $405m assets offload hits another snag
- Forbes Coal heads for more growth
- Gold One takes a hard line on illegal strike
- Golden River investment in Canadian Acadian
- Herencia switches to Chile openpit plan
- Hughes blasts through to new drill contract
- Indonesia approves Essar’s Kalimantan coal mine
- Jobs Board to counter visa attacks
- Kolar lifts its Indian gold resource
- Leighton raises $A425M
- Lynas to pilot new process for Mt Weld deposit
- Marikana platinum mine to shut
- Mutiny sets its Deflector targets
- New Age secures big UK coal project
- New Australan titanium company for NYSE listing
- New union deal to cost Teck $34m
- Newcrest invests $A20M in PNG project
- Nkwe ponders dramatic Garatau mining change
- NSL finalises heritage pacts
- NUM in strike talks with Gold One
- Orica to fight Yarwun pollution charges
- Overland halts Yukon base metal mine work
- Pallinghurst boosts investment funds by ZAR800M
- PanTerra’s Dominican gold production delayed
- Police clash with sacked Modder East workers
- Polymetal realises quick result on Russian gold deal
- Production downgrade for Gran Colombia Gold
- Queenston buys more of Mistango
- Rambler beats budget at 1806 Zone
- Russian court rejects Flinders appeal
- Safety order shuts Stone Resources plant
- San Gold buys more of the Bissett neighbourhood
- Soviet ‘secrets’ saver for GB Energy
- Spanish coal miners protest subsidy cuts
- St Augustine checks its King-King rights
- Study supports re-start to Serabi’s Brazil mine
- Sundance to raise Mbalam cash
- Tyhee closes in on Yellowknife feasibility
- Underground option likely for Xtierra’s Bilbao mine
- Universal lifts Kangala coal services
- Whitehaven confirms Tinkler approach
- Yellowstone climbs to TSX listing
- ZCI comes to the aid of African Copper
- MINING IT
- MICROMINE introduces Pitram in Spain
- The A-E of gaining control
- PEOPLE
- New firm joins recruitment ranks
- PROJECT WATCH
- Stonehenge moves ahead on range of fronts
- SOUTH AMERICA
- Gold, iron and a silver bullet
- UnCUT
- Collision avoiding controversy
- UNDERGROUND
- Too big to fail
- VIEW FROM THE WEST END
- Show me the money
