JOHANNESBURG (Keith Campbell at miningweekly.com) – China’s Shougang group, the country’s fourth-largest steelmaker, has announced that it is going to invest $1-billion in its Peruvian iron-ore mining subsidiary, Shougang Hierro Peru.
This was announced by Shougang group President Wu Bin after a meeting with Peruvian President Alan Garcia.
This investment will boost Shougang Hierro’s production capacity to 10-million tons a year of iron-ore by late 2010. This will double the Peruvian operation’s production.
Shougang has been active in Peru since 1993 and Shougang Hierro is a wholly owned subsidiary of the Chinese group.
With its head office in Lima, Shougang Hierro is the largest iron-ore producer on the west coast of the Americas. It operates a mine with openpits, beneficiation plants and a port.
These are located on the Peruvian coast, some 525 km south of Lima. Read more
Arianne Resources Inc. previously announced on August 21, 2008, the filing of a preliminary prospectus in order to list its subsidiary Oroplata Exploration inc. (“Oroplata”) on the TSX Venture Exchange. The financial crisis happened shortly after and the Company could not complete the IPO for Oroplata. Arianne wishes to inform its shareholders that it is actively working on Oroplata’s financing and confirms that the Oroplata share distribution dividend will take place as soon as market conditions improve. Oroplata owns two mining properties in Mexico including El Rey that contains historical resources in gold and silver.
2008 exploration results from El Rey, Sinaloa, Mexico : Following an IP geophysical survey and recent field works, Oroplata is pleased to announce the presence of a highly anomalous zone located in the North-West sector of the survey grid. The anomalous sector covers an area of 100,000 square metres and shows a magnetic relief generally flat to moderate. It is constituted of many PP anomalies of moderate intensity that could be oriented NW-SE to W.SW-E.NE, that will require more definition. To this day, this zone remains open in the west part of the survey grid (www.arianne-inc.com/fichiers/oroplata_overview.pdf)
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