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Red Metal Resources Ltd., a mineral exploration company with copper-gold assets in Chile, today announced that it has completed the purchase of the Che I & Che II mining claims for approximately USD$20,000. These claims cover 76 hectares within Red Metal’s existing Mateo copper-silver-gold project in the Candelaria Iron Oxide Copper-Gold (IOCG) belt in Chile III Region. coal crushing plant
The Mateo project is made up of approximately 2,122 hectares (5,244 acres) of combined mining and exploration licenses. Three of the mining licenses, the Irene, Margarita and Santa Therese, cover ground with a history of artisanal mining and some exploration work. Mateo lies within the Candelaria IOCG belt, 10 kilometers east of the city of Vallenar and only 15 kilometers from the closest Empresa Nacional de la Mineria (ENAMI) processing plant. Geologically the Mateo project is located within the brittle-ductile NS trending Atacama Fault System that is known to host many of the major deposits in the IOCG Belt.
World Wide Minerals Ltd. today commented on current developments in its long-running arbitration with Kazakhstan involving its investments in that country in 1996 – 1997. The issues in the arbitration relate to default by Kazakhstan in repaying loans made to Kazakhstan in 1996-1997 as well as losses suffered by World Wide in Kazakhstan and the net value of uranium deposits and related assets that World Wide had the right to acquire. The arbitration was commenced in 2006 and has been conducted under UN Arbitration Rules. complete crushing and screening plant
In October, 2008, World Wide appointed the initial arbitrator in a panel of three. The Republic of Kazakhstan (ROK) and its nuclear agency, Kazatomprom, then jointly appointed a second arbitrator. The two arbitrators were to appoint a third arbitrator before the end of 2008. In the meantime World Wide and its legal counsel were assembling evidence for the commencement of the substantive arbitration itself.
In September, 2009 the initial arbitration was put on hold when World Wide and the ROK chose to simplify the process by appointing a mutually agreed, sole arbitrator to determine certain preliminary and substantive issues in connection with the November, 1996 Loan Agreement. This was done. Written submissions were made by both parties, an oral hearing was held in London (UK) in December, 2009 (to deal with certain preliminary issues) and a second oral hearing was held in Brussels (Belgium) in July, 2010 (to deal with the remaining issues). At the July hearing the arbitrator reserved his decision. aggregate crushing plant
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