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MCC Board of Directors to decide on deal with Sri Lanka

A delegation from the U.S. Government’s Millennium Challenge Corporation (MCC), led by Managing Director for Europe, Asia, Pacific, and Latin America Caroline Nguyen and Managing Director for Selection, Eligibility, and Policy Performance Daniel Barnes, visited Sri Lanka this week to gather information and assess the current situation, the MCC said in a statement.Over the last two years, MCC and the Government of Sri Lanka have worked to develop the proposed MCC Sri Lanka Compact – a large-scale five-year grant program designed to promote economic growth. The proposed MCC Sri Lanka Compact is designed to spur economic growth and would invest in projects in the transport and land sectors. MCC expects all of its country partners to remain committed to democratic governance, which includes respect for the rule of law, political rights and civil liberties for all.MCC is an innovative foreign assistance agency of the United States Government established in 2004 that has signed compacts with over 30 countries around the world. Before the proposed compact can move forward, MCC’s Board of Directors must review and approve the program, as it does with all compacts. “MCC has been monitoring developments in Sri Lanka over the last few months. This visit is an opportunity to engage with senior government officials, the private sector and civil society to understand their perspectives about the current situation and Sri Lanka’s commitment to the proposed MCC compact and to MCC’s eligibility criteria,” said Managing Director, Europe, Asia, Pacific, and Latin America Caroline Nguyen. “Our conversations will inform deliberations by the MCC Board of Directors.” read more

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Degrussa coppergold makes good progress in Western Australia

first_imgSandfire Resources reports good progress of construction, mining and copper production at DeGrussa. The first shipment of Direct Shipping Ore (DSO) grading approximately 30% Cu has departed from Geraldton for delivery to customers in China. Open pit Stage 1 mining is progressing on schedule with a total of 6.5 million bank cubic metres (bcm) of material mined to date. A further 1.2 million bcm has been mined from Stage 2.Underground mine development is progressing on schedule with the Evans Decline currently advanced to 1,350 m from the portal and 220 m below surface. A total of 4,000 m of development has been completed to date. From the underground mine, 20,000 t of massive sulphide ore has been mined and placed on the ROM pad ready for processing. Construction of the process plant continues on schedule for completion in the third quarter of 2012. Construction of the Tailing Storage Facility (TSF) is complete. The Power Station became operational in April 2012, supplying power to the underground mine, workshops, batch plant and exploration and village areas.The DeGrussa copper-gold mine is located 900 km north of Perth and approximately 150 km north of the regional mining centre of Meekatharra in the Peak Hill mineral field of Western Australia.last_img read more