It may not warm your heart; it’s nonetheless a hot discussion

Pope Francis added Catholic’s Church view on the climate change and environment’s degradation to an already polemic issue.

I have just been sent a link to Bloomberg Business website on the issue. Good scientific journalism: simple yet rigorous information. I hope it will help you build an informed opinion: http://www.bloomberg.com/graphics/2015-whats-warming-the-world/.

New mining code published in Portugal

The new mining code been published a few days ago (June 22). You may obtain it here: lei_54_2015_regimejuridico (in Portuguese).

Drop me a line if you are planing to invest in the Portuguese mineral sector (new opportunities created by the new law; hopefully no new obstacles): a comment here or a message to luischambel@sinese.pt; I will get back to you (currently in London for the Mining on Top: Africa).

Nova lei dos recursos geológicos em Portugal

Foi publicada no passado dia 22 a nova lei dos recursos geológicos em Portugal – aqui está: lei_54_2015_regimejuridico (Bases do regime jurídico da revelação e do aproveitamento dos recursos geológicos existentes no território nacional, incluindo os localizados no espaço marítimo nacional)

Ainda não li, mas já me transmitiram opiniões negativas. Confesso que as minhas expectativas são baixas mas vou ler para poder ter e dar uma opinião fundamentada. Já alguém conhece? Opiniões? Vai criar obstáculos novos à exploração de recursos minerais em Portugal, ou pelo contrário, vai facilitá-la? Quais os pontos positivos? E os negativos?

Avrupa and Lowell Copper sign option agreement on Alvito Project (iron-oxide-copper-gold, southern Portugal)

June 22, 2015

Avrupa Minerals Ltd. (AVU:TSXV) and Lowell Copper Ltd. (JDL:TSXV) have signed an option agreement to explore the Alvito iron-oxide-copper-gold (“IOCG”) project in southern Portugal. Lowell Copper can earn up to an 80% interest in the project by incurring total exploration expenditures on the project of US$4.4 million and completing a pre-feasibility study over an 8-year period.

Paul Kuhn, President & CEO of Avrupa, stated that “We are pleased to have attracted a technically strong joint venture partner in Lowell Copper to our Alvito Project. The track records of Mr. David Lowell and other key management and shareholders of the company are impressive and will aid in ensuring that the Alvito project is well-explored.”

David Lowell, Chairman & CEO of Lowell Copper, noted that “The Alvito IOCG project has large potential, and we are looking forward to working with the Avrupa team in this prolific mining region of Portugal.”

You may see the full news release at AVRUPA’s website or download the pdf document from here: nr_2015_06_22.

Attending MINING ON TOP: AFRICA – London Summit in the next days

Anyone for a chat in London? I will be attending Mining on Top: Africa – London Summit, 24th-26th June, London, UK.

I am especially focused on the development of deposits of diamonds (and other gems), tantalite and specialty metals, industrial rocks and minerals (including natural stone), pegmatites and carbonatites in Angola, Mozambique, Republic of Congo and DRC (but also other Portuguese speaking countries and their neighbours – also including the other side of Atlantic: Brazil, Uruguay).

Anyone for a chat during those days? Drop me a message at luischambel@sinese.pt.

Diamonds discovered in Mozambique – Mustang Resources’ Save Project

Diamonds (and rumours of their existence) are not new in Mozambique since colonial times (DIAMANG’s DIAMOC subsidiary had some activity in Mozambique). Later on, kimberlite were discovered/confirmed by soviet teams in the (then already independent) country.

Until now, the country has seen no industrial diamond production (or large scale diamond garimpo activity). That is perhaps about to change. Mustang Resources Limited (an Australian company) has just announced the discovery of alluvial diamonds in the gravels of their concessions along the Save River, in southwestern Mozambique. You may read the full news releases here: Mustang Discovers Diamonds – JORC Table 1 (June 16, 2015), Mustang Discovers Diamonds in Mozambique  (June 15, 2015) and their previous (June 10, 2015) Save River Diamonds Project Update; the company’s October 2014 presentation in OGIGROUPLTD PROJECTS_28Oct. Or, if rather prefer, at ASX website.

Mustang Resources Limited (ASX:MUS), formally called OGI Group Limited, is an ASX listed company focussing on diamond and graphite exploration and mining in Mozambique. You may refer to company’s website for further info on the project:  http://mustangresources.com.au/mozambique-overview/diamond-project/; I also suggest you read the details of the information and comments about sampling and geological models included in Mustang Discovers Diamonds – JORC Table 1 (especially the last pages of the document).

Results and my comments (both very preliminary; the comments, of course, subjective)

16 diamonds (classified as gems) were recovered from 5 pits (9.68 ct with an average stone size of 0,60 ct/stone in a total of 4.732 m3).

It is a very early stage; it is a success to find diamonds in the first tests. Nonetheless, overall grade is small and stone size good (please note, these are preliminary results and they may not be considered representative of the potential  mineralization contained in the gravels).

The company is using a rotary pan as a concentration process. Although extensively used in South African gravel fields, I would rather use a DMS small scale plant (or a jig based system).

Location

The Save River Diamonds Project is located in southern Mozambique, next to the border with Zimbabwe. The area of interest is along the Save River, after the confluence with the Runde River.

The licence areas are located where gravels, conglomerates and grits have been mapped on the surface. The tertiary to quaternary aged sediments are potentially associated with alluvial diamonds.

Metallogenical model (summary)

The geological model for this project is based on the Save and Runde Rivers having drained areas some 200 kms upstream with rich diamondiferous conglomerates and kimberlites (Murowa and Marange diamond fields in Zimbabwe) over millions of years.

The profile of the Save/Runde Rivers from the Marange/Murowa areas in Zimbabwe to the Save River Diamonds Project shows a very steep gradient resulting in a high energy environment which the Save River maintains until it reaches the confluence with the Runde River. The topography then changes to a gentle and almost flat surface at the confluence of the rivers. This has resulted in a massive deposition of gravels on the concession area which is a substantial 40km x 10km in size.

Lower than planned revenue – PETRA DIAMONDS announces for FY015

In a news release published today, PETRA DIAMONDS updates FY2015 targets (update on June 12 for a FY ending June 30).

Carat production is maintained at 3.2 million carats (as a 5 Mct long term – 2019 – target), yet revenues are downgraded to 430 M USD for FY2015. The lower than planned revenue is explained by high variability in ore mix due to their underground production at Finsch and Cullinan being sourced from mature and diluted mining areas, (…) the lower incidence of high quality stones and higher volumes of smaller diamonds reduces the average prices achieved on sale.

You may read the full news release clicking here.