Hard to boost returns by selling smaller intermed-high grade projects. Perhpas it was the 8 yr mine life?
It will produce less than a 1/3 of the per annum Cu output as RDK's Copper Creek based on underground operation comparable. per recent news releases and research report. .
On Thu, Jun 13, 2013 at 9:57 AM, Jason wrote: Only an eight year mine life… for $325 million plus $400M to complete for 4thQtr 2014 launch… About Eagle Mine : Rio Tinto is the owner, developer and future operator of the Eagle Mine in western Marquette. County of Michigan's Upper Peninsula. Eagle is expected to produce 300 million pounds of nickel, 250 million pounds of copper and small amounts of other metals over its eight year mine life. Eagle will be the only primary nickel mine in the US. See more at: http://www.riotinto.com/media/media-releases-237_8723.aspx#sthash.G4uyKhaw.dpuf
RIO TINTO allowed themselves to get jacked around in far flung corners of the world or make bad acquisitions into aluminum etc and finds themselves in anongoing pickle with ##### and #### govt in Mongolia and then how about the 165M tonne landslide disaster at bingham Canyon. totally got them floundering around in Utah.
Besides Barrick learning a bad lesson at Pascau Lama chile look at Newmont's problem below in Peru. Nevada for big gold opps. in nevada and Arizona for big copper opps. in copper alley.
Peru’s mining conflicts made country’s total social issues climb to 225 in May
Cecilia Jamasmie | June 13, 2013
Peru's ombudsman office, Defensoría del Pueblo, published a report (in Spanish) showing that three new mining conflicts arose in the country last month, taking the nation’s social problems up to a staggering 225, just in May.
From the total, at least 76% social conflicts are still ongoing, said the authority, while the rest are controlled but not solved.
Socio-environmental struggles were the most numerous, with 149 cases (66.2% of the total) related to mining activities (108 cases) and hydrocarbon projects (19 cases).
The body warned about the situation in the gold-rich Cajamarca region, where the world's number two gold producer, Newmont Mining (NYSE: NEM), continues to struggle with its $4.8 billion gold-copper Conga project.Construction at the debated mine, in partnership with local miners Buenaventura and Minera Yanacocha, has been suspended for over a year after violent protests and blockades routes in and out of Cajamarca forced the government to declare a state of emergency in more than one occasion.
Conga is set to begin production in early 2015, but last April Newmont stressed willingness to reallocate capital to projects in other countries such as Australia, Ghana, Indonesia and the US.
The mine will be capable of producing up to 350,000 ounces of gold and 120 million pounds of copper per annum with a 19-year life of mine.
(Image: Anti-Conga protest, by NewsLIVE)