May 11, 2011 – Republic of Mining

Ontario students adapt video game skills to mining technology

May 11, 2011

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

The lineup of students was always long at the Sandvik double boom jumbo mining drill simulator during Skills Canada Ontario’s 22nd annual technological skills competition. The event, which was held earlier this week at the RIM Park Complex in Waterloo, attracted more than 31,000 students, teachers and parents. The competitions themselves saw more than 1,800 high school and community college students vying for top prizes in 63 contest events ranging from heavy equipment maintenance to computer design to electrical diagnostics and culinary skills and hairstyling.

The Ontario Mining Association and its members participated in the competition through running career awareness workshops and supportive exhibits. Peter Larsen and Tom White from Sandvik manned the ever-popular drill simulator. This highly interactive and realistic training equipment was a welcome attraction for students who enjoyed testing their video game skills on the tasks of operating underground mining equipment.

Supporting Lesley Hymers of the OMA with the mining exhibits were Tonia Oldford and Godfrey Desmoulin from Barrick Hemlo Mines, Don Rivera and Andre Cousteils from Sifto Salt, Michael Bartch and Allison Bawden from Canadian Salt in Windsor and Louise Turcotte from the Federated School of Mines and Cambrian College.

PwC NEWS RELEASE: BC mining companies are riding the wave of strong demand and high commodities prices: PwC report

May 11, 2011

Revenues and earnings reached near record highs in 2010

VANCOUVER, May 10, 2011 — According to a new report from PwC, British Columbia’s mining companies have rebounded from the global economic slowdown, turning in near-record results for revenues, net income and cash flows during 2010. Overall the industry’s aggregate pre-tax net earnings were $3.7 billion in 2010, up by 65% from $2.3 billion in 2009.

“The 2010 financial performance of the BC mining sector was outstanding, driven by strong coal and metals prices and a lot of hard-working people in the industry,” said Michael Cinnamond, leader of PwC’s BC mining industry practice and co-author of the report. “The PwC report shows that just about every aspect of the BC mining sector has done better than expected. Many of the positive trends we saw last year have continued into the first quarter of 2011.”

Gross mining revenues increased 13% to $7.9 billion in 2010, approaching the historic high of $8.4 billion in 2008. The Canadian dollar strengthened in 2010, creating an estimated aggregate negative impact of $856 million on gross revenues, excluding the impact of any hedging.

The grand plan for Quebec’s North – by Barrie McKenna (Globe and Mail – May 11, 2011)

May 11, 2011

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous impact and influence on Canada’s political and business elite as well as the rest of the country’s print, radio and television media.

Reality Check: The $80-billion plan comes with few details; much of that money is already committed, or expected to come from the private sector

Think of Jean Charest’s $80-billion Plan Nord strategy as a bridge between resource development and the 33,000 aboriginal people of the North. The Quebec Premier is betting aboriginal groups will buy into development if they see tangible benefits. So he’s promising to pump taxes and new higher mining royalties into roads, airports, housing, health care and education, including $1.6-billion between 2011 and 2016 (average: $326-million a year).

But details on much of the $80-billion, 25-year plan is either murky or already committed. More than half the money comes from already planned or proposed Hydro-Québec projects ($47-billion). Private investment in mining and government-financed infrastructure make up the rest.

Transportation

Quebec has four northern ports, 26 airports, 1,200 kilometres of rail tracks and 51,000 kilometres of logging roads. The province is vowing to integrate the region’s ports, airports and roads into a more cohesive network. The first phase of that work includes $821-million worth of road expansions.