29th August 2014

Mineral beneficiation, industrialisation key to development – Finance Minister – by Martin Creamer (MiningWeekly.com – August 29, 2014)

http://www.miningweekly.com/page/americas-home

JOHANNESBURG (miningweekly.com) – The key to the development of South Africa lay in mineral beneficiation and industrialisation in joint development with its regional neighbours, South Africa’s new Finance Minister Nhlanhla Nene told the Centre for Education In Economics and Finance (CEEF).

Speaking at a CEEF dinner in Johannesburg on Thursday evening, Nene said value addition, industrialisation and regional integration were linked to rapid, sustained economic growth in modern economic development, which was a critical reason why the South African government was placing greater emphasis on them.

Resource-endowed countries that had failed to move up the value chain had registered short bursts of growth, but never the kind of relentless growth that had persisted over decades and resulted in intergenerational wealth creation and the reduction of poverty, inequality and unemployment.

He suggested that South Africa’s vast $2.5-trillion nonenergy mineral endowment could be more adequately leveraged within South Africa’s Cabinet-approved beneficiation strategy, which targeted adding value to the country’s gold, platinum, diamonds, iron-ore, chromium, manganese, vanadium, nickel and titanium, energy coal and uranium endowments. Read the rest of this entry »

posted in Africa Mining, International Media Resource Articles | 0 Comments

29th August 2014

CHART: Copper price could follow iron ore over a cliff – by Frik Els (Mining.com – August 28, 2014)

http://www.mining.com/

The price of copper has been swinging wildly since hitting a near four-year low in March. This week is no exception and the red metal is down 3% in since Tuesday erasing most of the gains from a surge in the price last week.

In midday New York trade on Thursday, December copper fell more than 1.5% to a low of $3.1425 a pound without any fresh news that can be blamed fro the sharp pullback. Weak economic news out of China, consumer of 45% of the globe’s copper, is the number one factor for the weakness in the price.

Manufacturing activity in the world’s second largest economy slowed sharply in August and is nearing contractionary levels, a reading of the country’s services industry dropped to nine-year lows in July while bank lending is at financial crisis levels.

Probably most worrying is weakness in China’s property sector – construction accounts for 60% of copper demand.

Latest monthly data show home sales declining by almost a fifth, the sharpest downturn since December 2008. At the same time unsold inventories of real estate in China have risen by more than 25% this year.

The outlook is bleaker still and some economists are predicting a property bust after years of overbuilding that will make the US subprime mortgage crisis seem puny. Read the rest of this entry »

posted in Copper, Northern Ontario/Canada Regional Media | 0 Comments

29th August 2014

Celebrity bullies like the ‘tar sands’ punching bag – by Doug Firby (Troy Media – August 27, 2014)

http://www.troymedia.com/

Doug Firby is Editor-in-Chief and National Affairs columnist for Troy Media.

The latest big hitter to take a swipe at Alberta’s biggest industry is Leonardo DiCaprio. His tour to the northern Alberta “tar sands” comes on the heels of visits by such high-profile heavy hitters as Neil Young, James Cameron and even spiritual leader Archbishop Desmond Tutu. In fairness, it’s hard to think of them as bullies, until they get on their high moral horses.

Tutu is the odd man out in this group, with a track record of courage and conviction from his leadership days on South Africa that puts the Hollywood gang to shame. Even if you don’t agree with his assessment that the oil sands development is “evil”, you still have to respect the man and listen to what he says because of everything that he’s done.

The rest are entertainers, who have made their fortunes through pop culture. Perhaps their celebrity alone gives them a mandate to speak out, but their fame should never be confused with having the credentials necessary to be recognized as authorities on the causes they choose.

They are not scientists who build their case on the foundation of evidence; nor are they reporters, who are expected to vet the facts they are given. Instead, each is a powerful communicator who employs their talent and fame to broadcast the messages on behalf of like-minded comrades in the cause. Read the rest of this entry »

posted in Canadian Media Resource Articles, Oil and Gas Sector-Politics and Image | 0 Comments

29th August 2014

Ring of Fire announcement greeted with shrugs from critics – by Jonathan Migneault (Sudbury Northern Life – August 28, 2014)

http://www.northernlife.ca/

‘When will this horse drink,’ junior miner wonders

The province announced Thursday its plans to establish an interim board for the Ring of Fire development corporation, but critics say the announcement has been too little too late.

“I’m really pleased that we’re in a position today to take this very significant step forward to drive the Ring of Fire project forward,” said Northern Development and Mines Minister Michael Gravelle.

He said the government met its commitment to establish a development corporation for the Ring of Fire chromite deposits in Northwestern Ontario 60 days after Premier Kathleen Wynne’s throne speech, on July 3.

An interim board made up of four senior bureaucrats, and based in Thunder Bay, is expected to bring First Nations, the public and private sectors together to create partnerships and facilitate investment decisions in strategic transportation infrastructure for the Ring of Fire.

Those four civil servants are: Bill Thornton, assistant deputy minister for Northern Development and Mines; Rob Dowler, assistant deputy minister with the Cabinet office; Linda McAusland, assistant deputy minister of Transportation; and Ehren Cory, executive vice-president of Infrastructure Ontario. Read the rest of this entry »

posted in Northern Ontario/Canada Regional Media, Ontario's Ring of Fire Mineral Discovery | 0 Comments

29th August 2014

First Nations group working on Ring of Fire infrastructure plan (Northern Miner – August 28, 2014)

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

Yet another infrastructure plan is in the works for Ontario’s remote Ring of Fire region, this one for an infrastructure corridor consisting of a railway, power, and a seasonal sea port in James Bay.

The big difference here is that the plan is being proposed by First Nations – the Mushkegowuk Tribal Council.

“This is going to be aboriginal-led,” said Mushkegowuk Director of Lands and Resources Vern Cheechoo. “I know there’s other plans in the region – the Ontario government with their corporation plan, we have Ontario Hydro with a grid plan, we have other groups that want to bring infrastructure into the region and we are one of the options. We feel we’re best situated for this.”

Mushkegowuk represents 10,000 people, including members of the Attawapiskat, Kashechewan, Fort Albany, Moose Cree, Taykwa Tagamou, Chapleau Cree and Missanabie Cree First Nations. The council has started talks with the nine Matawa First Nations, whose territories are closest to the Ring of Fire, on working together.

Some of the previous infrastructure proposals, such as Cliffs’ proposal to build a 340-km all-weather industrial road, for example, proved controversial because of inadequate consultation. Read the rest of this entry »

posted in Aboriginal and Inuit Mining, Canada Mining, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 0 Comments

29th August 2014

Critics look for details on Ring of Fire ‘devco’ – by Carol Mulligan (Sudbury Star – August 29, 2014)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Sudbury Star mining columnist Stan Sudol levelled even harsher criticism. “With no First
Nations or industry representatives on their board, this was obviously a rushed and cynical
announcement to try to meet an election promise,” said Sudol.”Let’s not forget this
development corporation was first announced 10 months ago, last November.”

Sudol pointed out the Cliffs Natural Resources, which has one of the largest claims in
the Ring of Fire, recently confirmed it was selling all non-core assets, including its
Ring of Fire properties. “This is an absolutely stunning indictment of the Ontario
Liberal government’s inability to move this project forward,” said Sudol.

It was on time, but it wasn’t the announcement those who were waiting for it were hoping to hear.

Six days before a self-imposed, 60-day election campaign promise to establish a development corporation to design, construct and maintain infrastructure for the Ring of Fire, the Government of Ontario announced it had officially done so.

In a brief news release, the province said the Ring of Fire Infrastructure Development Corporation was officially established as a not-for-profit corporation, headquartered in Thunder Bay, with an interim board of directors of four senior public servants.

The interim board will put the necessary structures in place to allow partners to determine their participation in the corporation, it announced. Read the rest of this entry »

posted in Ontario Mining, Ontario's Ring of Fire Mineral Discovery, Stan Sudol Columns/Media References and Appearances | 0 Comments

28th August 2014

Australia avoids commodity ‘Dutch Disease’, for now – by Clyde Russell (Reuters U.S. – August 28, 2014)

http://www.reuters.com/

LAUNCESTON, Australia – (Reuters) – The resource boom is often cast as both villain and hero in Australia, being simultaneously recognized as a major driver of the country’s wealth but also as a destroyer of traditional industries.

Two recent research papers have highlighted this dual nature of investment boom in iron ore, coal and liquefied natural gas (LNG), and taken together show that while Australia has benefited hugely from China-led demand for commodities, the risks seem to be mounting.

First, the good news. Australia has largely avoided the dreaded “Dutch Disease” over the past decade, according to an Aug. 22 research report from the Reserve Bank of Australia.

“Dutch Disease” was coined by The Economist magazine to describe the negative impact of a booming resource sector on other parts of the economy, using the discovery of natural gas off the Netherlands and the subsequent decline of that nation’s manufacturing as the eponymous example.

Over the decade to 2013, the resource boom boosted real per capita household disposable income by 13 percent, raised real wages by 6 percent and lowered the unemployment rate by 1-1/4 percentage points, the Reserve Bank researchers said.

While this was the good news from the investment of hundreds of billions of dollars in boosting commodity output, the central bank also found that the appreciation of the Australian dollar weighed on industries exposed to trade, such as manufacturing and agriculture. Read the rest of this entry »

posted in Australia Mining and History, International Media Resource Articles | 0 Comments

28th August 2014

NEWS RELEASE: Northern Superior Reports on Progress of its $110 Million Lawsuit Against Government of Ontario

SUDBURY, ONTARIO–(Marketwired – Aug. 27, 2014) - Northern Superior Resources Inc. (“Northern Superior” or the “Company”) (TSX VENTURE:SUP) reports the following progress on the Company’s $110 million lawsuit against the Government of Ontario:

Since the appointment at the Company’s request of a Judge to manage its case against the Ontario Government, lawyers for Northern Superior and the Government of Ontario have attended three (3) case conferences before Mr. Justice Lederer of the Ontario Superior Court of Justice;

As a result of these case conferences, various outstanding procedural issues have now been resolved and the case can now move to the next stage;

Northern Superior obtained further documentation previously undisclosed by the Ontario Government, and on August 21, 2014 delivered its final “Reply” in response to the Ontario Government’s “Fresh and Amended Statement of Defense” (copies of all pleadings can be found on “Northern Superior’s website www.nsuperior.com under the heading “Claim”); and

Northern Superior and the Ontario Government have agreed that in addition to managing procedural aspects of the court action, Justice Lederer will also hear and rule on the merits of the case. Read the rest of this entry »

posted in Aboriginal and Inuit Mining, Mining Conflict, Ontario Mining | 0 Comments

28th August 2014

KWG plans appeal of Ring of Fire court decision – by Richard Gilbert (Daily Commercial News – August 28, 2014)

http://www.dailycommercialnews.com/

KWG Resources is planning to appeal a decision by the Ontario Superior Court of Justice, which allows Cliffs Natural Resources to access land or an easement for construction of a road to a Ring of Fire chromite deposit.

“Whether or not it is in the public interest to grant an easement for a road is a matter for the Minister of Natural Resources to determine, after an environmental assessment and consultation with First Nations and other affected interests,” said KWG Resources in a statement.

“It is for the Minister to determine whether the easement should be granted in the public interest and on what terms.”

Canada Chrome Corporation (CCC), a subsidiary of KWG Resources Inc., served notice on Aug. 13 of its intention to launch a legal challenge in the Court of Appeal of Ontario. The appeal seeks to reverse another appeal decision made by the Divisional Court of the Ontario Superior Court of Justice on July 30. Counsel for KWG are reviewing the Divisional Court’s extensive reasons for judgment.

The first appeal set aside a decision by the Ontario Mining and Lands Commissioner (MLC) on Sept 10, 2013.

Cleveland-based Cliffs Natural Resources is proposing to mine chromite from its Black Thor deposit, which is located about 535 kilometres northeast of Thunder Bay in the McFaulds Lake area. Read the rest of this entry »

posted in Northern Ontario/Canada Regional Media, Ontario's Ring of Fire Mineral Discovery | 0 Comments

28th August 2014

Absolute change needed to mine Wits basin’s stranded 1.1bn gold ounces – by Martin Creamer (MiningWeekly.com – August 27, 2014)

http://www.miningweekly.com/page/americas-home

CARLETONVILLE (miningweekly.com) – South Africa’s Witwatersrand basin contains another 1.3-billion ounces of gold, almost as much gold as has been mined there since 1886 – but miners can only get to another 200-million ounces of it using today’s mining methods.

If the industry does not come up with a new way of mining, more than a trillion dollars worth of gold will not be mined, because the 1.1-billion ounces in question are either below the cutoff for the current mining method, or they are at depths where there are no technical solutions to get to mine those ounces.

Moreover, safety has reached a plateau and unless significant change is made to what creates this plateau, death and injury in mines will continue, which is totally unacceptable.

There is thus an absolute need to change – and senior VP technology and projects Shaun Newberry is at the forefront of an AngloGold Ashanti move that could result in all three billion Wits basin ounces being mined and not merely 1.9-billion of them.

Individual technologies currently under investigation will make a significant impact on the current mining method, where reverse circulation drilling will ensure enhanced information and better planning. Read the rest of this entry »

posted in Africa Mining, Gold and Silver, International Media Resource Articles | 0 Comments

28th August 2014

Glencore Mine in Doubt After Dominican Park Bill Passes – by Bill Faries (Bloomberg News – August 28, 2014)

http://www.bloomberg.com/

The future of Glencore Plc’s (GLEN) shuttered ferro-nickel mine in the Dominican Republic was cast into doubt after passage of legislation declaring the region surrounding the mine a national park.

The Senate approved a measure yesterday creating a protected area at Loma Miranda, home to the Falcondo mine. Glencore, led by billionaire Chief Executive Officer Ivan Glasenberg, called for “rationality” in decision-making on the mine’s future, the Baar, Switzerland-based company’s local unit said in a statement today.

The cost of permits to operate the mine will rise if the national park legislation is signed into law by President Danilo Medina. Affected landowners will be compensated, according to the bill. The mine, which Glencore acquired in 1956, contains 19.3 million tons of minerals.

“With operations at Loma Miranda, the Dominican economy would receive some $5.7 billion during the next 20 years,” according to the statement. “Where will those resources come from now?”

The Caribbean nation’s government has clashed with mining companies in recent years over royalties and environmental regulations. Dominican customs agents held up shipments from Barrick Gold Corp. (ABX)’s $4 billion Pueblo Viejo mine last year after Medina called the company’s concession “unacceptable.” Glencore temporarily shuttered the Falcondo mine last year due to low global nickel prices. Read the rest of this entry »

posted in Glencore-Xstrata PLC, International Media Resource Articles, Latin America Mining, Nickel | 0 Comments

28th August 2014

UPDATE 1-Australian state to sell around $2 bln in assets as mine boom ends – by James Regan (Reuters India – August 28, 2014)

http://in.reuters.com/

SYDNEY, Aug 28 (Reuters) – The state of Western Australia on Thursday said it planned to sell government-owned assets, including part of the Port Hedland shipping terminal, for an estimated A$1 billion to A$2 billion ($1.9 billion) as its resource-heavy economy adjusts to the collapse of a decade-long mining boom.

The move will precede other unspecified sales of land and assets that could fetch another A$4 billion to A$5 billion over the next two or three years, said state premier Colin Barnett.

Barnett, said his priority was to reduce debt and regain a triple-A credit rating for Western Australia. He once hailed the state as the economic engine for Australia, but it is now struggling to pay its bills.

“These are the first assets we will open up to the market. They have been identified as priority assets for sale,” Barnett said in a statement.

Moody’s this week downgraded Western Australia’s credit rating to Aa1 from Aaa. “The ratings downgrade reflects the state’s ongoing deficit position, the deterioration in its debt metrics, and a growing risk that this trend may not be reversed soon,” the ratings agency said. Read the rest of this entry »

posted in Australia Mining and History, International Media Resource Articles, Iron Ore | 0 Comments

28th August 2014

Mining must strengthen community engagement, public confidence – Minister Rickford – by Dorothy Kosich (Mineweb.com – August 28, 2014)

http://www.mineweb.com/

Instead of debating whether Canada should develop its resources, Minister Greg Rickford advises the discussion should focus on responsible resource development.

RENO (MINEWEB) - While Ontario’s Ring of Fire holds great promise for the province’s north, Canadian Natural Resources Minister Greg Rickford stressed the importance of engaging with all communities in the region to work effectively with the province and the mining industry.

In a speech to 2014 Energy and Mine Ministers Meeting in Sudbury Tuesday, Rickford said, “I believe the Ring of Fire holds great promise for this region—a legacy resource development that will require substantial investment, new roads and essential infrastructure to ensure that our communities will have road access and electrification at a competitive value point for industry and communities in Northern Ontario to thrive.”

However, he observed, “To build local confidence, communities must trust what governments and industry say and what government and industries do. We must listen and address local concerns.”

“Building trust in public confidence comes from transparency,” said Rickford. “One of the reasons we’re pursuing initiatives like mandatory reporting for the extractive sector … is to get us to a point of some consensus.” Read the rest of this entry »

posted in Aboriginal and Inuit Mining, Canada Mining, International Media Resource Articles, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 0 Comments

28th August 2014

Glencore, Jinchuan frontrunners to buy BHP’s Nickel West – by Sivia Antonioli and Polly Yam (Reuters U.S. – August 27, 2014)

http://www.reuters.com/

LONDON/HONG KONG – (Reuters) – Commodities trader and miner Glencore (GLEN.L) and Chinese nickel producer Jinchuan Group are the frontrunners to buy BHP Billiton’s (BHP.AX)(BLT.L) Australian Nickel West division, two sources close to the situation said.

BHP, the world’s largest mining company, announced plans last week to spin off businesses worth an estimated $16 billion but said that Nickel West in western Australia would not be part of the demerged group.

Chief Executive Andrew Mackenzie has said the company was in talks with potential buyers for all or part of Nickel West.

Estimates of the value of Nickel West vary greatly, with some analysts and industry sources putting it at anything up to $1 billion and others tagging negative figures to an asset they say is burning cash. “It’s a race between Glencore and Jinchuan now,” the first source said.

Jinchuan is “very interested” in Nickel West and plans to ship about 30,000 tonnes of nickel concentrate to China if it takes over the business, said the China-based second industry source, who had been briefed about the plan but declined to be named because of the sensitive nature of the matter. Read the rest of this entry »

posted in Asia Mining, Australia Mining and History, Glencore-Xstrata PLC, International Media Resource Articles, Nickel | 0 Comments

28th August 2014

News Release: Ontario Establishes Ring Of Fire Infrastructure Development Corporation Province Supporting Growth in the North

August 28, 2014 11:10 A.M.

Ministry of Northern Development and Mines

Ontario has taken another step to drive progress in the Ring of Fire region, delivering on its July 3, 2014 commitment to establish a development corporation within 60 days.

With headquarters to be located in Thunder Bay, the ROF Infrastructure Development Corporation will work to bring First Nations and the public and private sectors together to create partnerships and facilitate investment decisions in strategic transportation infrastructure.

The not-for-profit corporation has an interim board of four Ontario public servants. The board will put the necessary structures in place in order to allow for partners to determine their participation in the corporation. This includes working with key partners including First Nations, industry, communities, and the federal government, to formalize partnerships through the corporation, and overseeing an economic and technical baseline feasibility report on transportation infrastructure.

As participation in the corporation evolves, the Board of Directors will be broadened to include membership from First Nations and industry partners. In its mature state, the corporation will be in a position to advise on crucial infrastructure investment decisions, including how to best utilize Ontario’s $1 billion dollar commitment to Ring of Fire infrastructure. Read the rest of this entry »

posted in Ontario's Ring of Fire Mineral Discovery | 0 Comments

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