February 2, 2012 – Republic of Mining

Congolese citizens will appeal to Supreme Court in suit against Canadian mining – by Sidhartha Banerjee (Winnipeg Free Press – February 2, 2012)

February 2, 2012

This ariticle came from: http://www.winnipegfreepress.com/

The Canadian Press

MONTREAL – A coalition of human-rights groups say they will make a last-ditch plea to the Supreme Court of Canada in an effort to sue a Canadian mining company on behalf of the victims of a massacre in Congo.

The Canadian Association Against Impunity, a coalition of human-rights groups and non-governmental organizations acting on behalf of Congolese citizens, says it’s imperative that those people have access to justice in Canada. Quebec’s Court of Appeal last week overturned a lower-court ruling from April 2011 that had paved the way for a civil suit to be heard in Canada.

In their claim, the groups had argued that Anvil Mining Limited (TSX:AVM) provided logistical support to the Congolese military as it moved to crush a rebel uprising in 2004.

Another death at Vale’s Sudbury mines – Editorial (Northern Miner – February 6-12, 2012)

February 2, 2012

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

The month of January closed out with Vale having temporarily halted all underground mining at its five nickel mines in Sudbury, Ont., following the death of a miner at the Coleman mine on Jan. 29.

Miner Stephen Perry, 47, was working on the 4,215-ft. level when he was struck by “what appears to be a displacement of material or rock from the development face in the main orebody,” commented Kelly Strong, Vale’s North Atlantic vice-president of mining and milling, in an early Jan. 30 news conference.

Perry was brought to surface where he was pronounced dead by medical personnel, said Strong, who extended his condolences to the miner’s family and friends. He had been with the company for 16 years. This is the fourth fatality in seven months at Vale’s Canadian operations, and the third death at the company’s Sudbury mines.

Commodities: Now is a good time to load up on CARBS – by Garry White (The Telegraph – November 27, 2011)

February 2, 2012

This article came from: http://www.telegraph.co.uk/

The City loves acronyms. We’ve had BRICS, PIIGS, SPDRs and BASICs – but now we have another to add to the Square Mile’s lexicon. The CARBS.

The CARBS are the major commodity producing countries – Canada, Australia, Russia, Brazil and South Africa – according to a report published last week by Citigroup’s equity strategists. They argue that “CARBS make you strong” and these countries should be considered a distinct asset class in their own right.

Between them the CARBS control commodity assets worth almost $60 trillion (£38.7 trillion) and 29pc of the world’s landmass. They produce between a quarter and a half of most major commodities.

The crux of Citi’s argument is sound. Basically, it’s all about the amount of infrastructure these countries will have to build if they are going to fully exploit the opportunity they have in their commodity reserves. “CARBS are the new carnivores,” Citi argues.

China enhances position as world No. 1 gold producer – but where’s it all going? – by Lawrence Williams (Mineweb.com – February 1, 2012)

February 2, 2012

This article is from: www.mineweb.com

China’s gold output rose again in 2011 confirming its position as global No. 1 producer, but is it surreptitiously taking all its domestic production into its reserves?

LONDON – As had been expected, China, already the world No. 1 gold producer, saw its output rise again this year. The country produced a record 360.96 tonnes of the yellow metal in 2011, a 5.9% increase, making it the world’s top gold producer for a fifth consecutive year, according to the China Gold Association.

Meanwhile, the country has been importing record amounts of gold as well with the volumes coming in through Hong Kong, which are officially reported figures, climbing to over 100 tonnes in November – and by all accounts gold purchasing in China has been booming since then, so imports are likely to have remained at this kind of level in December and January as well. Estimates have suggested that China’s total gold imports for 2011 will have been some 490 tonnes – double that of 2010, but this may well be an under-estimate, possibly a substantial one.

Xstrata confirms Glencore merger of equals talks – by Elisabeth Behrmann and Jesse Riseborough (Mineweb.com – February 2, 2012)

February 2, 2012

This article is from: www.mineweb.com

In a statement issued this morning, and subsequently confirmed by Glencore, Xstrata said the commodities trader has made an approach about an all-share offer for “a merger of equals.”

(Bloomberg) – Glencore International Plc, the world’s largest publicly traded commodities supplier, is in talks to buy the shares in Xstrata Plc that it doesn’t already own to add coal, copper and nickel mines from Africa to Asia.

Glencore made an approach about an all-share offer for “a merger of equals,” Zug, Switzerland-based Xstrata said today in a statement to the London stock exchange. Glencore holds 34 percent and the rest of the company is valued at 21.9 billion pounds ($35 billion) based on yesterday’s closing price. Glencore said in a statement there’s no certainty of an offer.

Joining Xstrata with Glencore, located two miles away in Baar, would reunite two groups that separated a decade ago when Xstrata bought Glencore’s Australian and South African coal mines for $2.5 billion and went public in London. The combined company may be valued at about 52 billion pounds after excluding Glencore’s stake in Xstrata.

Vale, [Sudbury] union agree to work together – by Carol Mulligan (Sudbury Star – February 2, 2012)

February 2, 2012

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

United Steelworkers Local 6500 and Vale Ltd. have agreed to conduct a joint investigation into the death of veteran miner Stephen Perry at Coleman Mine on Sunday.

Six people — three from the company and three from the union — will meet Thursday to begin work on the investigation into the fatal accident.

The shutdown at Vale’s five Sudbury mines will continue so the focus remains squarely on safety, and not on production, said Angie Robson. Local 6500 president Rick Bertrand said he was happy the two sides agreed to work together.

“Hopefully, things will be much better here on in,” in terms of both safety and labour relations, said Bertrand.

Mine production was halted Sunday after Perry, 47, was killed while operating a loader at the 4,215-foot level of the Coleman shaft of the main order body at mine in Levack.

Co-operative [industry/First Nations]approach to mining venture – (Timmins Daily Press – February 2, 2012)

February 2, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

Company, two First Nations sign memorandum of understanding

An agreement has been reached between a mining firm and two First Nations over mineral rights to about 60,000 hectares of land. Ring of Fire Resources Inc. has entered into a memorandum of understanding (MOU) with the Matachewan and Mattagami First Nations with respect to its mineral exploration activities in 10 townships just north of Timmins.

The memorandum sets out the provisions of a co-operative approach to developing the Ring of Fire Inc. interests within the territorial homelands of the two First Nations. The agreement provides for business and employment opportunities that encourage First Nation participation in the mining industry.

The parties have also committed to negotiating an Impact and Benefits Agreement should the project warrant a mining operation.