With experts saying zinc could be in deficit by 2017 if not earlier, miners from Australia to Africa to the European Union are racing against time to attract investment in new projects.
SYDNEY (Reuters) - Zinc miners are betting a long-running global supply glut of the metal used in steel making will turn into a deficit over the next five years as old mines run dry, sparking massive investment in new projects.
From Australia to Africa to the European Union, mining firms are laying the groundwork to dig up an additional 1 million tonnes-plus of zinc annually, nearly one-tenth of world consumption and more than is parked in London Metal Exchange warehouses already overflowing with unsold metal.
Zinc could be in deficit by 2017 if not earlier, experts say, as consumption rises in China, steel manufacturing picks up in Europe and North America and – most importantly – several super deposits run dry, forcing buyers to dip into swollen producer and exchange stockpiles. Read the rest of this entry »
posted in Commodity Super-Cycle |
Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.
It was an admittedly bittersweet occasion for Darryl Lake when FedNor Minister Tony Clement visited Sudbury’s Northern Centre for Advanced Technology (NORCAT) March 30.
Lake was pleased to guide Clement, a long-time friend and supporter, on a tour of the innovation centre, but it was also Lake’s last day at the helm of the organization, which he played an essential role in shaping. And the poignancy of the day wasn’t lost on Clement.
“There’s no way you can capture an understanding of NORCAT without feeling the passion and the commitment of Darryl Lake over the years,” he said in an address. “Really, it’s such a moment for this organization, but I just want to say, from the bottom of my heart, thank you so much for everything you’ve put into this. You’ve put your body and soul into this organization.”
Clement, president of the federal treasury board, assured Lake and others that FedNor’s support of NORCAT—which, since 2008, has totalled $3.4 million—would be bolstered through Budget 2012 and the federal government’s Economic Action Plan. Read the rest of this entry »
posted in Canada Mining, Mining Education and Innovation |
BC’s Premier announced Monday the launch of the Pacific Gateway Transportation Strategy which aims to expand Canadian mining exports to Asia
RENO (MINEWEB) - British Columbia Premier Christy Clark Monday launched the new Pacific Gateway Transportation Strategy 2012-2020 to expand international trade in coal, potash, minerals, forest products, grain, container traffic and growth in air travel.
The strategy targets Cdn$25 billion in new public and private sector investment needed to meet demand, in addition to $22 billion already committed since 2005.
“We have a once-in-a-generation opportunity to take advantage of the fastest growing economy in history,” Clark said. “Asia is right at our doorstep-our ports are closer than anywhere else in North America. Our government is making sure we can get our goods to market as efficiently and quickly as possible and this strategy is a huge part of that plan.”
For instance, Teck has invested more than $1 billion and hired an additional 1.000 people in British Columbia to expand its steelmaking coal, copper and zinc operations. Read the rest of this entry »
posted in British Columbia Mining |
The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.
Click Here For: Towards a More Innovative Future: Insights From Canada’s Natural Resources Sector
OTTAWA - Hewers of wood, drawers of water. It’s the classic dig about Canadians — that far too much of what we do is focused on low-value extraction and export of natural resources.
To an extent, it’s true. Resources account for 11 per cent of the country’s GDP, half of exports, 37 per cent of foreign investment and a quarter of capital investment. Nearly 800,000 Canadians work directly in the sector.
But a new report by the Ottawa-based Public Policy Forum tries to debunk the myth that relying on resources for our wealth is “like feasting on empty calories.”
Instead, the report makes the case that there’s more potential for innovation in the natural resources sector than in any other industry, and ultimately, a lot more on the line for society. Read the rest of this entry »
posted in Canada Mining, Corporate Social Responsibility |
The Daily Press is the city of Timmins broadsheet newspaper.
Unionized workers organize campaign to save Ontario Northland
“Ontario Northland is the glue that holds the North together!” This is the message and platform on which critics of the privatization of the ONTC are launching their campaign upon to save what has been called the 100-year-old staple of Ontario’s North.
The McGuinty government announced their intent to dismantle and privatize most of the crown corporation’s holdings last week during the provincial budget. The news was met with an immediate outcry of anger and confusion.
Brian Kelly and his fellow members of the Ontario Northland General Chairperson’s Association (ONGCA) mustered their strength and are ready to fight the Liberal government for every railroad tie and every metre of track.
“The government likes to comment a lot on how much money they spend, but they don’t like talking about how much money gets put back into the economy,” Kelly said. Read the rest of this entry »
posted in Northern Ontario Politics, Northern Ontario Separation and Alienation, Timmins |