Gold and Bullion Miners Tumble as French Vote Cuts Haven Demand – by David Stringer, Ranjeetha Pakiam and Kevin Crowley (Bloomberg News – April 24, 2017)

https://www.bloomberg.com/

Gold futures fell to the lowest in almost two weeks and bullion mining stocks sank as investors favored riskier assets on expectations that Emmanuel Macron will become France’s next president. Copper and other industrial metals rose.

The metal slipped as much as 1.8 percent in New York and a Bloomberg Intelligence gauge gold miners plunged as much as 2.7 percent after pro-growth centrist Macron and nationalist Marine Le Pen won the first-round vote on Sunday.

Le Pen, who wants to take France out of the euro and cut immigration, has trailed Macron in almost every opinion poll for the runoff. A second round takes place on May 7. With the second-round line-up avoiding the scenario of a contest between Le Pen and communist-backed Jean-Luc Melenchon, widespread relief across markets pushed European stocks and the euro higher, and cut gold’s gain this year to 11 percent. Continue Reading →

Galantas Gold plummets as it halts Irish mine expansion on terrorism fears – by Cecilia Jamasmie (Mining.com – April 24, 2017)

http://www.mining.com/

Shares in Galantas Gold (TSX, LON:GAL) collapsed in London Monday after the Canadian miner announced it had halted expansion work at its Omagh gold mine as the Police Service of Northern Ireland (PSNI) said it was unable to guarantee it the necessary “anti-terrorism cover” for its blasting operations.

The Toronto-based company, which had has begun underground development at Omagh last month, was going to create 130 new jobs due to the expansion, but it now says it was reviewing potential redundancies with recently hired mine staff, and any new recruitment or ongoing investment had been “deferred”.

The stock plummeted on the news and it was down almost 33% to 4.65p at 1:41PM GMT, while it was trading 20% lower in Toronto at 9:38AM. PSNI told the company that due to resource constraints and competing priorities, it was currently only prepared to provide anti-terrorism cover for a maximum of a two-hour period, two days a week. Continue Reading →

NEWS RELEASE: Canadian Orebodies Doubles Land Position at Wire Lake Through Acquisition of the Black Raven Property

http://www.canadianorebodies.com

TORONTO, ONTARIO–(Marketwired – April 24, 2017) – Canadian Orebodies Inc. (the “Company”) (TSX VENTURE:CORE) is pleased to announce the execution of an acquisition agreement (the “Acquisition Agreement”) with StrikePoint Gold Inc. (the “Vendor”) to acquire a 100% interest in 33 mineral claims located 14 kilometres northeast of Marathon, ON, and generally referred to as the “Black Raven Property” or “Smoke Lake Property” (the “Property”).

“This is a highly strategic acquisition which ties directly onto our Wire Lake Property, and is along the known gold bearing trend currently being evaluated by Canadian Orebodies. This transaction more than doubles the size of our land package in the immediate area to over 11,000 hectares,” said Gordon McKinnon, President and CEO of Orebodies.

“This Property not only adds coverage over the extension of the Wire Lake gold trend, but adds numerous other highly prospective targets, including the bonanza grades of 312.90 gpt Au and 95.31 gpt Au from the Crocker Float.” Continue Reading →

Space May Be Next Frontier for Earth’s Crude Oil Giants, Analyst Says – by Dan Murtaugh (Bloomberg News – April 23, 2017)

https://www.bloomberg.com/

The Middle East has an outsize impact on energy here on Earth. One analyst thinks some regional powerhouses may leverage that role into the development of natural resources in space.

Countries like the United Arab Emirates and Saudi Arabia are developing space programs and investing in nascent private space commodity initiatives, said Tom James, a partner at energy consultant Navitas Resources. Doing so could give them a foothold in building extraterrestrial reserves of water — a substance likely to fuel travel within space — and other resources that could be used for in-space manufacturing.

“Water is the new oil of space,” James said in Singapore. “Middle East investment in space is growing as it works to shift from an oil-based to a knowledge-based economy.” Continue Reading →

Mining industry undergoing ‘remarkable transformation’ – by Lindsay Kelly (Northern Ontario Business – April 24, 2017)

https://www.northernontariobusiness.com/

Modern Mining and Technology Week kicks off in Sudbury

At a time when the mining industry is undergoing a sea change in technology and innovation, it’s never been more important to engage youth and educate them about the available opportunities in the sector.

That was the message shared on April 21 during the annual business luncheon to kick off Modern Mining and Technology Week 2017 in Sudbury. The weeklong event features activities geared toward elementary and high school students to educate them about the mining sector and encourage them to consider pursuing careers in the industry.

Honorary chair Don Duval said the sector is in the midst of a “remarkable transformation” that is seeing the industry adopt innovation and new technology at an extraordinary rate, and he’s witnessing this change firsthand in his capacity as executive director of Sudbury’s Northern Centre for Advanced Technology (NORCAT). Continue Reading →

Canada’s a global leader on clean air – by Lorrie Goldstein (Toronto Sun – April 20, 2017)

http://www.torontosun.com/

The question now is whether carbon pricing to reduce greenhouse gases is
worth the added cost to Canadians in terms of the higher taxes and prices
they will have to pay for almost all goods and services, considering that
Canada produces only 1.6% of global greenhouse gas emissions.

A Fraser Institute study released Thursday comes as a welcome breath of fresh air to Canadians tired of being harangued by politicians and so-called “green” activists as environmental laggards. The study shows a dramatic improvement in Canadian air quality since 1970, despite economic growth, an increasing population and greater energy consumption, making Canada a world leader in reducing air pollution.

It won’t change the debate over man-made climate change because the Fraser Institute is talking about traditional sources of air pollution, rather than industrial greenhouse gases – primarily carbon dioxide – linked to global warming.

But the study by University of Guelph economics professor Ross McKitrick and economist Elmira Aliakbari entitled, “Canada’s Air Quality since 1970: An Environmental Success Story” lives up to its name. Continue Reading →

Anglo American reports 9 percent rise in output – by Barbara Lewis and Sanjeeban Sarkar (Reuters U.K. – April 24, 2017)

http://uk.reuters.com/

Anglo American (AAL.L) reported a 9 percent rise in overall production for the first quarter of 2017 compared with 2016, but copper output fell 3 percent due to poorer grades and a temporary suspension at the El Soldado mine in Chile.

The miner also said Cyclone Debbie in Australia had led to coal production losses in the last week of March and affected the rail network, which is expected to affect sales volumes in the second quarter.

Anglo was among the miners hardest hit by a slump in commodity prices in 2015 and early 2016. In the depths of the downturn, it said it was narrowing its focus to a group of core, high-value commodities, but after becoming the top performer in Britain’s benchmark FTSE 100 index .FTSE, boosted by a recovery in raw materials prices, it said it would no longer be a forced seller of assets. Continue Reading →

Harte Gold Corporation’s Developing Mine: A New Camp in the Making Adjacent to Hemlo? – by Stan Sudol  (March 2017)

Harte Gold Corporation is one of those “under the radar” junior explorers that is now well on its way to developing a high grade underground gold mine adjacent to northern Ontario’s world-class Hemlo camp where roughly 22 million ounces of gold have been produced to date since 1985.

Back in September 2008, when Stephen G. Roman and his partners sold their Gold Eagle Mine project in Ontario’s Red Lake gold camp, to Goldcorp for $1.5 billion, it took just one month for him to start investigating another project.

By early 2009, Roman took charge of Harte Gold, an underperforming gold exploration company that was on the verge of being de-listed. It took him about a year and half to put the corporation’s finances in order and acquire Corona Gold Corp’s 51% ownership of the property. Continue Reading →

Investors look for financial restraint as good times roll for gold miners – by Josh O’Kane (Globe and Mail – April 23, 2017)

http://www.theglobeandmail.com/

With Canada’s biggest gold miners back in the mode of making deals and striking partnerships, analysts will be watching the companies’ self-discipline as first-quarter financials start rolling in.

Last year was a period of recovery for gold producers: balance sheets got better, gold prices were healthy and rising and share prices climbed. The S&P/TSX global gold index went up 50 per cent in 2016, and it’s up another 12 per cent so far this year.

In the past, strong gold markets have led to a round of mergers, acquisitions and mine-building, followed by a painful reckoning. Investors haven’t forgotten, so free cash flow, cost savings and debt reduction remain in their sights as precious-metal miners mull new projects in their march out of the commodity slump. Continue Reading →

If the eco-fanatics hate Justin Trudeau this much, imagine what they think of you – by Rex Murphy (National Post – April 22, 2017)

http://news.nationalpost.com/

That Justin Trudeau is a genial and pleasant-tempered man may not be “a truth universally acknowledged,” but that he is as close to that perfect status as any human being is likely to get is not a proposition inviting dissent. From Flare to Vogue the oracles agree that our Prime Minister is the very model of a modern Major-General … er, Prime Minister.

Just last week a grand covey of the rich and gorgeous at the Women in the World Conference pronounced him as “near perfect” as perfect can be (his only deficit “that he is not a woman,” a failing that, properly speaking, is more the mischief of blind Nature, than a flaw of his own devising).

Now, beyond the borders of rational opinion, out in the badlands of raw outrage and wild surmise, a distempered few offer bitterly dismissive terms on the subject of Trudeau. One of the volatile tribunes of Toronto’s Black Lives Matter movement, yearning for a cheap headline and clearly out of the reach of any plausible dictionary, called Trudeau “a white supremacist terrorist.” Continue Reading →

In the quest of yet another Koh-i-noor – by Appaji Reddem (The Hindu – April 23, 2017)

http://www.thehindu.com/

Prospectors flock to Kollur mine area as the KL Sagar waters recede

While India’s battle to reclaim the Koh-i-noor diamond continues, summer has given a new lease of life to the mines along the Krishna river that spawned the crown jewel. They have surfaced after months under the waters of the Pulichintala irrigation project in Guntur district.

And as the deserted villages in the 2.4 lakh sq. km. catchment area reappear, prospectors flock to the area, hoping to find another Koh-i-Noor. The Kollur mine, the ‘Eldorado’ that yielded the enigmatic diamond and the eponymous village in Andhra Pradesh lie in a forested region some 100 km from Vijayawada, enveloped by Pulichintala project or the Dr KL Rao Sagar project on the Krishna river.

The region has been home to diamond mining for centuries, reaching its zenith under the Qutub Shahi dynasty with their capital Golconda a global hub of the trade. Millions of carats of diamonds are believed to have been mined from Kollur between the 15th and the 19th century. Continue Reading →

Mount Isa, a city of mining, huge distances and a close-knit community – by Oliver Lewis (Suff.co.nz/ – April 23, 2017)

http://www.stuff.co.nz/

Dressed in an orange jumpsuit, large white gumboots and a hard hat with a torch on the front we descend into the mine. I’m in Mount Isa, deep in the north-west of the Queensland Outback. It is a city built by mining, rising from the arid red dirt of the landscape in 1923, after prospector John Campbell Miles first discovered lead ore here.

From the air, the land surrounding Mount Isa, or The Isa as it is known by locals, looks like the scarred surface of an alien planet. From my window seat in the plane, the rocks below reflect back beams of light from the setting sun, hinting at the great seams of zinc, copper, lead and silver buried under the dirt.

We’re on the Hard Times Mine Underground Tour , just beside the Outback at Isa visitor centre, in the middle of the city of around 22,000. Because of health and safety precautions, tours into the actual mines closed a few decades ago, so the city built its own mock mine, with around 1.2 kilometre of tunnels. Our tour group is led by Alan Rackham, a miner of 49 years who over the course of the next two-and-a-half hours takes us through the history of mining in the area. Continue Reading →

For First Time Since 1800s, Britain Goes a Day Without Burning Coal for Electricity – by Katrin Bennhold (New York Times – April 21, 2017)

https://www.nytimes.com/

LONDON — Friday was the first full day since the height of the Industrial Revolution that Britain did not burn coal to generate electricity, a development that officials and climate change activists celebrated as a watershed moment.

The accomplishment became official just before 11 p.m., when the 24-hour period ended.
Coal powered Britain into the industrial age and into the 21st century, contributing greatly to the “pea souper” fogs that were thought for decades to be a natural phenomenon of the British climate.

For many living in the mining towns up and down the country, it was not just the backbone of the economy but a way of life. But the industry has been in decline for some time. The last deep coal mine closed in December 2015, though open cast mining has continued. Continue Reading →

Northern Ontario is Canada’s future; Conservative leadership candidate promises he will make Ring of Fire a national priority, boost regional health care – by Erin O’Toole (Thunder Bay Chronicle-Journal – April 23, 2017)

http://www.chroniclejournal.com/

THIS week in Thunder Bay, I visited the Terry Fox memorial and was reminded of the tremendous determination of this iconic Canadian and the community spirit he continues to inspire three decades after his death. Canadians are a generous people who help our neighbours at home and have long played a role in helping around the world from Vimy Ridge to Kandahar.

Northern Ontarians have always gone the extra mile to answer the call of service to help their neighbours. Local leaders know the needs of their communities far better than bureaucrats in Ottawa. That’s why it’s time we empower Northern Ontario to set its own course and become a national economic driver once more.

From Kenora to Thunder Bay to Timmins, northerners know the needs of their communities and the tremendous potential of projects like the Ring of Fire. As an Ontario MP, I also recognize that the development of resources in our north not only creates jobs in this area of the province, but will benefit all Canadians through resource royalties and the addition of secondary processing jobs. Continue Reading →

Towns on the clock: What comes after coal for B.C.’s mining towns? – by By Josh Pagé and Liam Britten (CBC News B.C. – April 22, 2017)

http://www.cbc.ca/news/canada/british-columbia/

Coal has for decades been the way of life for miners in towns like Elkford, Sparwood and Fernie

Mining coal for steelmaking has been the way of life — a good life — for coal miners in towns like Elkford, Sparwood and Fernie for more than a century. But there’s also tension there, as coal truck driver Katie Bulger, who originally moved to the area for the snowboarding, explains.

“It is kind of a huge push and pull between … loving the mountains, being outdoors, and then going to a mine where it is just destroying mountains,” she said. Dean McKerracher, mayor of Elkford, feels tension too, but on a different matter.

While the major mines are expected to be in operation for several more decades, he worries what their inevitable closure will mean for the future of his community. The plan is to try to transition into tourism. Continue Reading →