Merlin
http://www.inovaresources.com
molybdenumcamp, FiFo
Phone:
Address:
Level 9, 303 Coronation Dr, Milton, QLD, 4064
State: Level 9, 303 Coronation Dr, Milton, QLD, 4064
Email:
The Merlin Molybdenum and Rhenium Project is located at Cloncurry inQueensland and is part of existing mining leases owned by Chinesecompany Chinova. From 2008 to 2013 the leases were owned by Ivanhoe Australia that became a publicly listed company and was consequentlynamed Inova during the 2013/14 financial year.
Chinova Resources, the Owner of the Merlin Project, is a WhollyOwned Chinese Private Company
Chinova Resources (Inova) was acquired by a privately owned Chinesecompany, Shanxi Donghui Coal Coking and Chemicals Group CompanyLimited in December 2013. This was the first such acquisition thecompany had made outside of China itself. Chinova started life as theAustralian based arm of its Canadian parent company, Chinova Resources,which, at that time was the largest mineral exploration company inAustralia. Since its inception Chinova has grown substantially, mainlywithin the Mount Isa Region of north western Queensland. ChinovaResources became a wholly owned private company in January 2014. Thecompany also operates the Kulthor and Osborne copper mines in theCloncurry region as well as having rights to 30 mining leases and 39mineral exploration permits.Much Infrastructure is In place for the Merlin Project
The Merlin Project is fortunate to already have in place a gas fired powerstation, a service corridor to the Osborne mine, a water supply, a tailings dam and an airport. An employees residential village is being relocated to the site, as is a paste fill plant, as well as a concrete batch plant. New infrastructure will include a crusher, offices and a process plant, as well as power lines.Merlin Molybdenum is Sourced From Molybdenite
The molybdenum mined at the Merlin mine will be sourced frommolybdenite. It is a dense silvery metal that is able to withstand extremetemperature without softening or expanding to any significant extent. Thismakes it very useful for applications that require intense heat.Most of the world's production of molybdenum, around 200ktpa, is derived as a by-product of copper. The Merlin mine will be able to produce around 2.5 percent of the world's needs, with over 80 percent of its molybdenum production being used as a alloy for stainless and structural steel. Most steel alloys requiring high strength need from 0.25 to 8 percent molybdenum to give it its required strength.Molybdenum is not toxic to humans and is an essential nutrient for the growing of plants.
The other element to be mined at the Merlin mine is Rhenium. Rhenium isalways ductile and was identified for the first time in 1925. It is a silvery transition metal that will not fracture no matter what the temperature. It has the third highest known melting point and is used in superalloys in aerospace turbines. This allows the making of turbines that have an improved fuel efficiency, lower greenhouse gas emissions and an ability to reach much higher speeds. For these reasons it is used in the turbines of the A380, joint strike fighter and the dreamliner aircrafts.
Chinova Resources is carrying out further exploration 5,000 kilometressouth of Cloncurry, as well as being involved in joint venture projects with Red Metal and Exco targeting large gold, copper and iron oxide deposits, that are of a similar nature to that of Osborne and Mount Elliot/Swan deposits. The company also plans to explore palaeochannel uranium deposits early in 2015 in conjunction with the Queensland Government.
