base metals overview erika ingvald, henrik schiellerup...
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NORDIC MINING DAY 2018NORDIC COMMODITY UPDATES
BASE METALS OVERVIEWErika Ingvald, Henrik Schiellerup, Juhani Ojala, Johan Söderhielm
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Trends and background
Zinc – closing of zinc mines and increasing demand from ChinaNickel – increasing demand from stainless steel industry and battery productionCopper – increasing demandfrom ChinaLead – strong growth in vehicle production in China
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Fennoscandian geology
• More than 3 billion years of geologic history
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Fennoscandian Ore Districts
Major base metal deposit types• Caledonides
• Köli Nappe – VMS• Rödingsfjäll Nappe - VMS• Caledonian front – MVT
• Skellefte district – VMS• Bergslagen – Stratiform and stratabound• Northern Norrbotten – IOCG and Porphyry
copper• Sveconorwegian – Sedimenthosted Co, Cu• Svecofennian – Sedimenthosted Cu, Ag, Au
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Base metal mines in SwedenMine
(Company)
Commodity Production
start
Tonnage
(Mt)
Grade
%- g/t
Ore district
Aitik
(Boliden)
Cu, Au 1968 4054,7 0,21 Cu
0,17 Au
Northern
Norrbotten
Kristineberg
(Boliden)
Cu, Zn, Pb,
Au, Ag
1935 41,91 1,1 Cu
6,09 Zn
0,26 Pb
1,2 Au
47,8 Ag
Skellefte district
Maurliden V
(Boliden)
Zn, Cu, Au,
Ag, Pb
2000 5,02 3,4 Zn
0,2 Cu
0,9 Au
49 Ag
0,4 Pb
Skellefte district
Renström
(Boliden)
Zn, Cu, Pb,
Au, Ag
1948 19,96 7,26 Zn
1,44 Pb
0,81 Cu
2,8 Au
151 Ag
Skellefte district
Garpenberg
(Boliden)
Zn, Pb, Ag 375 BCE 109,3 5,0 Zn
2,3 Pb
140 Ag
Bergslagen
Lovisagruvan
(Lovisagruvan
AB)
Zn, Pb 1992 0,93 11 Zn
7 Pb
Bergslagen
Zinkgruvan
(Zinkgruvan
Mining)
Zn, Pb, Ag 1849 65,6 9,4 Zn
4,3 Pb
83 Ag
Bergslagen
Aitik open pitPhoto: Boliden
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Major projects - Sweden
Laver Cu-Au-MoPorphyry Style
Classification Tonnes (Mt) Cu (%) Au (g/t) Mo(g/t)Measured Resource 1.1 0.20 0.11 18Indicated Resource 512.4 0.22 0.13 36Inferred Resource 550.6 0.21 0.10 33
Images from Boliden
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Major projects - Sweden
Name Classification Tonnes (Mt) Cu Grade (%)A Zone Measured Resource 14.439 1.7
Indicated Resource 4.69 1.2Inferred Resource 2.48 1.0
B Zone Measured Resource 0.123 1.3Indicated Resource 4.118 0.7Inferred Resource 15.41 0.8
D Zone Indicated Resource 10.36 1.2Inferred Resource 0.78 1.6
Viscaria CuVMS, IOCG
A and B Zone VMS Besshi typeD Zone IOCG or VMS replacement
Sunstone Metals
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Major projects - Sweden
Classification Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t)Indicated Resource 8.2 1.7 0.9 5.0Inferred Resource 7.5 1.5 0.6 7.0
Nautanen Cu-AuIOCG
Photo: J. Kruse
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Major projects - NorwayNussir and Ulveryggen
Sediment-hosted Cu
Photo: J. Kruse
NussirClassification Tonnes (Mt) Cu (%) Indicated Resource 64.3 1.17 + Ag, Au(JORC)
UlveryggenClassification Tonnes (Mt) Cu (%)Indicated Resource 7.7 0.81 (JORC)
Nussir –in dolarenite and argillitic dolostone
Ulveryggen –in quartzitic to feldspathic sandstone and conglomerate
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Major projects - NorwayModum
Sediment-hosted Co, Cu, Au
Photo: J. Kruse
Historic cobalt minesworld producer of blue pigment in the 19th CenturyProduction: 1.0 Mt @ 0.2 % Co
New exploration ongoing
Drilling in 2013 (NGU and BTV):8.3 m intersection @ 1.28 % Cu, 0.03 % Co, 0.26 ppm Au
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Major projects - Norway
Classification Tonnes (Mt) Cu (%) Zn (%)Indicated Resource 5.55 1.05 1.27
Above a 1.0 % Cu-eq cut-off
Hersjø Cu-ZnVMS
Photo: J. KruseHersjø – 3D modelFrom North Atlantic Minerals Ltd. (northatlanticminerals.com)
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Major projects - Norway
SkiftesmyrClassification Tonnes (Mt) Cu (%) Zn (%)Indicated Resource 3.51 1.0 1.5Inferred resource 0.57 1.0 1.6Above a 0.5 % Cu-eq cut-off (NI 43-101)
GodejordClassification Tonnes (Mt) Cu (%) Zn (%) Ag (ppm) Au (ppm)Inferred resource 0.25 0.6 4.2 15 0.4Above a 0.5 % Cu-eq cut-off
Skiftesmyr Cu-Zn, Godejord Zn-Pb-AgVMS
Photo: J. Kruse
SkiftesmyrFrom Metal Prospecting AS (www.metproas.no)
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Mining in FinlandKittilä Au
Kemi Cr
Pyhäsalmi Cu-Zn
Talvivaara Ni-Zn
Jokisivu Au
Parainen
calcite
Ilomantsi Au
Lappeenranta
calcite,
wollastonite
Orivesi Au
Punasuo talc
Kylylahti Cu
Polvijärvi talc
Lohja
calcite
Siilinjärvi P
Kevitsa Ni-Cu-Pd-Pt
Metals
Industrial minerals
2015 ore output (Mt)
< 0.1
0.1 - 0.5
0.5 - 1.0
1.0 - 10
> 10
In production 2016
• 12 metal mines
• 30 industrial minerals mines
• Mine investments 2008–2014: 2300 M€
– 242 M€ in 2016
• Estimated investments 2016–2025: 3000 M€
• Turnover 1500 M€ in 2015
• Mining and metal-related exports 6700 M€ in 2014
Mines in Finland
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Mine development projects - Finland
14
Kolari
Suhanko
Sokli
Taivaljärvi
Sakatti
Project Commodity Resource/Reserve Company
Sakatti Ni, Cu, PGM 44.4 Mt3 @ 1.9% Cu, 0.96% Ni, 1.37 g/t 2PGM+Au
Anglo American
Suhanko PGM, Ni, Cu, Au 208 Mt1 @1.83 g/t 2PGM Goldfields
Taivaljärvi Ag, Au, Pb, Zn 2.76 Mt5 @124 g/t Ag Sotkamo Silver
Kolari Fe, Cu, Au 115 Mt5 @32.4% Fe, 0.2% Cu, 0.1 g/t Au
Hannukainen Mining Oy
KuusamoHaarakumpu
Co, Cu 0.9 Mt @ 0.46% Cu and 0.34% Cu5 Latitude 66 Cobalt
Koillismaa PGM, Cu, Ni, Au 46.8 Mt3 @0.43-0.99 g/t 2PGM, twodeposits
Nortec
Hautalampi Cu, Co, Ni 2.2 Mt @ 0.38 Ni, 0.32 Cu, 0.1% Co Vulcan HautalampiOy
1 Measured, Indicated and Inferred, 2 Measured and Indicated, 3 Indicated and Inferred, 4 Inferred, 5 Proven and Probable
Koillismaa
Hautalampi
Kuusamo