February 14, 2012 – Republic of Mining

Obama budget again seeks hardrock mining royalty, new abandoned mine fees – by Dorothy Kosich (Mineweb.com – February 14, 2012)

February 14, 2012

www.mineweb.com

The President’s proposed fiscal 2013 federal budget calls for a 5% gross mining royalty on federal lands, and a hardrock abandoned mined land fee on all private and public lands.

RENO – In his proposed $3.8 trillion budget for fiscal 2013 released Monday, President Barak Obama has once again called for creation of a hard abandoned mined land fund, as well as a hardrock mining royalty of not less than five percent of gross proceeds.

Interior Secretary Ken Salazar, who hails from the mining state of Colorado, estimated creation of the Hardrock Abandoned Mine Reclamation Fund–applicable to private and federal, state, and tribal lands–would generate $500 million in savings over the next 10 years.

The Bureau of Land Management would distribute the funds through a competitive grant program to reclaim the highest priority hardrock abandoned sites on federal, state, tribal and private lands.

Salazar also intends to reform Coal Abandoned Mine Land Reclamation by terminating the unrestricted payments to states and tribes that have been certified for completing their coal reclamation work. Currently the money has been dispersed to states based on how much coal they produce.

BESTECH among nation’s best – by Carol Mulligan (Sudbury Star – February 14, 2012)

September 7, 2018February 14, 2012

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

Marc Boudreau’s parents, Roger and Solange Boudreau, were skeptical when he and lifelong friend Denis Pitre left secure jobs at Falconbridge Ltd. about 17 years ago to start their own company.

Monday, the co-owners of BESTECH announced that the company they started in 1995 was named by Queen’s University’s School of Business as one of Canada’s 50 Best Small and Medium Employers.

The company was ranked No. 41 on the list, which appears in the March issue of Profit magazine, now on newsstands.

Boudreau told a small crowd of employees, dignitaries and his proud parents that his company has become a success because it has lived up to its mission statement.

“We’re here, we’re part of the community, the community is important and that is the focus” of BESTECH, Boudreau said after a short ceremony.

Quebec harvests $6-billion in [mining] investment – by Nicolas Van Praet (National Post – February 14, 2012)

February 14, 2012

The National Post is Canada’s second largest national paper.

MONTREAL – Quebec Premier Jean Charest says his government’s massive effort to develop the resources of its northern territory has generated $6-billion worth of investment to date as companies accelerate growth plans faster than the province predicted.

Global mining giant Xstrata PLC is spending US$530-million to develop projects at its Raglan nickel mine in Nunavik, one of a number of corporate investments confirmed since Mr. Charest’s Liberal government formally announced its North Plan in May 2011.

China’s Jilin Jien Nickel said it will double investment in its project to extract nickel in Nunavik in northern Quebec to $800-million. And Vancouver-based Goldcorp Inc. is committing some $1.4-billion of capital to develop the Éléonore underground gold mine near Ell Lake, though much of that was announced before the North Plan’s launch. Backed by the Cree nations of Wemindji and Eastmain, whose members will work in the facility, the mine is expected to yield 600,000 ounces of gold annually over its 15-year life.

Construction company execs jailed 16 years for 2,000 asbestos deaths in Italy – by Frances D’Emilio (Toronto Star – February 14, 2012)

February 14, 2012

The Toronto Star, has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

ROME—An Italian court Monday convicted two men of negligence in some 2,000 asbestos-related deaths blamed on contamination from a construction company, sentencing each of them to 16 years in prison and ordering them to pay millions in what officials called a historic case.

Italian Health Minister Renato Balduzzi hailed the verdict by the three-judge Turin court as “without exaggeration, truly historic,” noting that it came after a long battle for justice.

“It’s a great day, but that doesn’t mean the battle against asbestos is over,” he told Sky TG24 TV, stressing that it is a worldwide problem.

Prosecutors said Jean-Louis de Cartier of Belgium and Stephan Schmidheiny of Switzerland, both key shareholders in the Swiss construction firm Eternit, failed to stop asbestos fibres left over from production of roof coverings and pipes at its northern Italian factories from spreading across the region.

U.S. loses Canada’s precious oil – by Rick Perry (National Post – February 14, 2012)

February 14, 2012

The National Post is Canada’s second largest national paper.

Rick Perry is the Governor of Texas.

Prime Minister Stephen Harper was in Beijing recently signing an agreement and touting his country’s growing energy partnership with China. It’s good news for Canada, which is rightfully looking to grow markets for its sizeable oil reserves. And it’s particularly good news for China, which needs to keep tapping into fresh supplies to feed its growing economy and mounting demand for oil.

Unfortunately, it’s bad news for Americans, particularly when you consider that one of the main reasons China has become such an attractive market to Canada was President Barack Obama’s recent rejection of the Keystone XL Pipeline. This crossborder connection would have provided a golden opportunity to partner with our neighbours to the north in producing massive amounts of energy, both for our country and the globe.

It seems unimaginable, yet President Obama refused TransCanada’s request to run its pipeline across the border from Canada to the Texas Gulf Coast. This extensive pipeline holds the potential of moving up to 830,000 barrels of crude oil per day – including oil produced in North Dakota and Montana – to refineries here in Texas.

Hope lives for Saskatchewan oil sands – by Claudia Cattaneo (National Post – February 14, 2012)

February 14, 2012

The National Post is Canada’s second largest national paper.

CALGARY — Barely five years ago, Oilsands Quest Inc. proved there are oil sands in Saskatchewan and wanted to build the province’s first major project.

Today, the company is in bankruptcy protection in Canada and the United States and is looking for a buyer, keeping on hold the province’s ambition to be a part of the booming industry.

As established oil sands companies announce big profits and big expansions, Oilsands Quest’s story is a reminder that a lot can go wrong, fast, in the business, including running out of cash, mounting costs, poor geology or simply being ahead of the times.

Still, Garth Wong, president and CEO of the company, is hopeful Saskatchewan’s oil sands will get a second chance as the company waits for the outcome of a sales process now under way, in an improving investment climate and as other companies move close to its edge of the basin.