http://www.montrealgazette.com/index.html
MONTREAL – The 24-year-old LaRonde gold mine in northwestern Quebec that fuelled Agnico-Eagle Mines Ltd.’s expansion into a six-mine international player could go on producing for another 15 years, with average annual output of 300,000 ounces, CEO Sean Boyd says.
LaRonde, deepened over the past two years, has been blessed with silver and zinc in its ore and operated at a net cash cost below $100 U.S. an ounce in 2011 – silver soared to record levels though zinc languished with the global recession. LaRonde is Canada’s deepest mine at three kilometres.
The deeper-level ore has less silver and zinc content, but average gold grades are much higher to compensate. And grade is everything, miners say.
“The transition from LaRonde I to the lower LaRonde II wasn’t easy as you ramp up new tonnages … it’s mighty hot down there,” said Boyd in an interview Friday. “But the ground conditions were good and we were applying the well-tried mining methods and equipment.”
Day: May 1, 2012
Mining slowdown hampers growth – by John Shmuel (Regina Leader Post – May 1, 2012)
http://www.leaderpost.com/index.html
Bank’s forecast in doubt
Canada’s gross domestic product unexpectedly fell 0.2 per cent in February, with much of the blame put on the mining sector.
“Potash mining was down 19 per cent as a result of the closure of mines in Saskatchewan in response to weak world demand,” the Statistics Canada report said. It was the steepest dive for the industry since 2009.
Statistics Canada blamed the decline on weakness in both the mining and manufacturing sectors, saying weak demand for some commodities and temporary mine closures contributed to the economic pullback. Market expectations were that real GDP would grow by 0.2 per cent. The dip follows growth of 0.1 per cent in January.
Douglas Porter, deputy chief economist with BMO Capital Markets, said in a report that mining, outside of oil and gas, was off seven per cent due to shutdowns in potash and nickel, part of which should soon be reversed. Two of Potash Corp. of Saskatchewan Inc.’s mines in Saskatchewan, Rocanville and Lanigan, were shut down during February.
Mining company [Taseko Mines] asks government not to consider aboriginal spirituality in environmental probe – by Peter O’Neil (Postmedia News – April 30, 2012)
http://www.canada.com/index.html
OTTAWA — A Vancouver company pushing the Harper government to reconsider a controversial gold-copper mining project in the B.C. Interior has privately urged Ottawa to ignore aboriginal requests to consider native “spirituality” as a factor in their determination, according to a letter the company sent to Environment Minister Peter Kent.
A new federal environmental review panel “does not have any right to attribute significance to the spirituality of a place per se,” wrote Taseko Mines Ltd. president Russell Hallbauer in a letter obtained under the Access to Information Act and provided to the Vancouver Sun by B.C. independent provincial representative Bob Simpson.
Taseko, which failed in its 2010 bid to get federal approval after a “scathing” federal review, also asked Ottawa to not permit aboriginal prayer ceremonies at pending hearings on the revised proposal.
And children’s plays should also be banned, Hallbauer told Kent in his November letter.
Vale’s Sudbury Subterranean aquaculture: How many fish per tonne?
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.
Ontario Mining Association member Vale, after a successful pilot project, will soon be producing fish near its underground greenhouse at the Creighton Mine in Sudbury. When they resurface, the subterranean grown fish will be released for restocking Sudbury area lakes and rivers.
Back in November of last year, Vale’s Environment Department placed fingerling rainbow trout in 1,500-litre tanks at its surface greenhouse. Five months of care and feeding resulting in the rainbow trout growing to about 20 centimetres in length. Recently, they were given a new home after being transported to the Onaping River.
“We are very proud of this project and its successful outcome,” said Glen Watson from Vale’s Environment group. “The fish will provide a boost to the river’s fish population and biodiversity, providing a highly valued resource for the community to enjoy.”
Ontario’s economy is struggling and politicians dance – by James Murray (Netnewsledger.com – April 30, 2012)
THUNDER BAY – EDITORIAL – Ontario’s economy is struggling, and the real impacts of those struggles are not yet being felt. Our Ontario has seen years of government living beyond its means, along with years of outright denial that this is a problem. It is, and it is one that is going to take a generation to get over at the least. Ontario is likely to lag behind more prosperous provinces, and likely will continue to do so for some time.
Ontario’s deficit is the real elephant in the room. Should interest rates climb from their current levels, our government will have to spend massive amounts of money just to pay for what we already, as a province, have spent. Standard and Poor’s has fired a salvo across our province’s economic bow saying how potentially vulnerable Ontario really is.
Solving the problems is going to take some real effort and some really hard work. It won’t be easy. Right now, sadly, at the provincial level, there really isn’t anyone stepping up with real plans to make a real difference.
Premier Dalton McGuinty has a ham-fisted death grip on maintaining the status quo. Progressive Conservative leader Tim Hudak is opposing rather than leading.
Labrador’s iron ore goes global (Canadian Mining Journal – April 2012)
The Canadian Mining Journal is Canada’s first mining publication providing information on Canadian mining and exploration trends, technologies, operations, and industry events.
*Information for this article provided by the Department of Natural Resources, Geological Survey, Government of Newfoundland and Labrador.
The world-class Labrador Trough iron mining district has long been a bastion of stability in the often uncertain world of mining.
Having produced more than 2 billion tonnes of ore over 50 years of continuous production, “The Trough” can claim a prominent place in the Canadian mining sector.
Currently, with new mine openings, major expansions at existing operations, and key port and rail upgrades, the district is being reinvigorated with investment capital from around the globe. In the current planning cycle, at least $15 billion of new investment in Labrador may be realized if projects advance to development.
At present, there are three iron ore operations located in the Labrador section of “The Trough:” Rio Tinto IOC (Carol Lake), Cliffs Natural Resources (Wabush Mines), and Labrador Iron Mines (Schefferville/Menihek DSO project).
NEWS RELEASE: First Nickel Reports that the Lockerby Mine has resumed normal operations
FOR IMMEDIATE RELEASE No. 2012-06
TORONTO: April 30, 2012. First Nickel Inc. (“First Nickel”, “FNI” or the “Company”) (TSX: FNI) reports that it has completed the work required to satisfy the stop work order issued by the Ministry of Labor last week. The Ministry lifted the order at 6:00pm on Sunday, April 29, 2012 and the mine has resumed normal operations starting with the shift on Sunday night. The Company does not anticipate any negative impact on second quarter production.
Thomas M Boehlert, President & Chief Executive Officer commented “I am very pleased with the Lockerby team’s ability to quickly respond, assess and resolve the issues causing the interruption. The dedication and cooperation of our employees and contractors bodes well as we continue to safely ramp-up the Lockerby mine to full production over the course of this year.
“Over the past week management and the union have worked very closely to address the issues identified by the Ministry. I’m very pleased that the safety of our members remains a top priority at the Lockerby Mine”, added Richard Paquin, President of CAW Local Mine Mill 598.
North America to lead global energy investments in 2012 – by Yadullah Hussain (National Post – April 30, 2012)
The National Post is Canada’s second largest national paper.
Move over, Middle East: North America looks set to lead the global energy investment drive this year, with companies expected to spend $392-billion on upstream capital and operating expenditures in the region, according to forecasts of IHS CERA, an energy consultancy.
“Capex (alone) is expected to reach US$274-billion in 2012, driven by the region’s boom in unconventional production including oil sands, tight oil, shale gas, tight gas and coal bed methane, which are forecast to account for US$128-billion of the 2012 total,” noted IHS CERA in a report published Monday. “Driven by continued investment in unconventional resources, total North America spending is expected to reach US$528-billion in 2016.”
Capital spending in the oil sands sector is forecast to reach 28% to US$18.5-billion in 2012, rising US$28-billion by 2016 as high oil prices spurs expansion plans, the Cambride-based consultancy estimates.
“The U.S. and North America currently make up 50% of all drilling activity in the world,” Candida Scott, senior director at IHS CERA told the Financial Post in an interview.
NEWS RELEASE: Yukon-Nevada Gold Corp. Signs Socio-Economic Participation Agreement with Five Kaska First Nations
VANCOUVER, April 30, 2012 /CNW/ – Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) is pleased to announce that, along with its wholly owned subsidiary, Ketza River Holdings Ltd., it has signed a Socio-Economic Participation Agreement (“SEPA”) with Kaska First Nations (“Kaska”) located in both Northern British Columbia and the Yukon Territory.
The SEPA has been negotiated over the last five years and is designed to foster and promote social and economic opportunities for First Nations members and contractors. There are also numerous beneficial effects that accrue to Yukon-Nevada Gold Corp. (“YNG” or the “Company”).
In addition to annual fixed and variable payments, YNG commits to the provision of both training and employment opportunities to the local First Nations. YNG seeks to the further development of the Kaska workforce from which the Company will hire employees and/or contractors and to that end will make annual payments into a scholarship fund for qualified Kaska citizens.
Ongoing input by Kaska Citizens to the Ketza River Project (“Project”) will be facilitated by the hiring of an Aboriginal Liaison Officer (“ALO”). The ALO will act as a communication link between YNG and Kaska citizens.