July 16, 2012 – Republic of Mining

Goldcorp wins mining dispute [against Barrick Gold Corp.] – by Cristin Schmitz (The Lawyer’s Weekly – July 20, 2012)

July 16, 2012

http://www.lawyersweekly.ca/index.php?section=main

Superior Court provides guidance for rights of first refusal agreements

A major commercial law ruling from Ontario holds useful lessons for the mining industry and other sectors that incorporate rights of first refusal into joint venture or shareholder agreements, counsel say.

The case pitted two Canadian mining giants, Barrick Gold Corp. of Toronto against Vancouver-based Goldcorp Inc. (and two other defendants), in a dispute over the ownership of one of South America’s largest gold and copper deposits. Barrick contended that Goldcorp illegally gained control of the Chilean mine that Barrick had conditionally purchased from co-defendant Xstrata Copper Chile S.A.

Superior Court Justice Herman Wilton-Siegel’s 229-page ruling dismissed all of Barrick’s claims against the three defendants. “Barrick’s principal claim for breach of contract is dismissed on the basis that the agreement between Barrick Corp. and Xstrata Chile S.A. terminated upon the exercise of the right of first refusal,” the judge wrote.

Mark Gelowitz of Osler in Toronto, who represents Goldcorp, said the judgment provides a useful overview of the rationale and principles that underlie rights of first refusal (ROFRs) and similar liquidity arrangements in shareholder agreements.

Timmins miners perform on Canada Sings – by Liz Cowan (Northern Ontario Business – July 2012)

July 16, 2012

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.

Timmins 100th anniversary special

They may not win any Grammys for their singing but the glee team from Dumas Mining in Timmins put tremendous heart and soul into their performance on Global TV’s Canada Sings in early June. The emotional effort paid off. “I was really happy that we won,” said team captain Terry Rickard.

“That part was exciting for me and I would do it again.” The winning performance each week means the charity of the team’s choice receives $25,000. The Dumas team chose CNIB’s Lake Joe Family Camp located near Mactier in Muskoka. For Rickard, the camp holds special significance since he lost his sight at 23, only to gain it back 18 years later.

When the team first got together and was told it had to pick a charity, a few ideas were tossed around. “Nobody had any real idea of what charity to agree to but one day we sat down with the production company and my friend told them that I had an interesting story,” he said. “I said the CNIB would be a good choice and then after I told my story, everyone agreed.”

Falling oil puts pinch on economy – by Ora Morison (Globe and Mail – July 16, 2012)

July 16, 2012

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.

Oil’s retreat from the $110-a-barrel (U.S.) mark this year may have helped fend off a deeper global economic slump, but for Canada the benefits of lower energy prices come with a serious cost.

The drop in the cost of crude to about $87 currently has made it cheaper for companies to run their plants and has saved drivers some money at the pumps.

But Canada’s manufacturing sector continues to struggle with a high dollar and lower-cost Asian rivals, and the oil-price pullback highlights how dependent the country’s economy has become on the energy sector for growth.

Few countries feel the rise and fall of oil prices more than Canada, and a healthy oil industry is crucial to ensure the country’s modest growth outlook doesn’t turn into something worse. Consider that oil and gas exports and investment in machinery and infrastructure in the oil sands accounted for fully one-third of Canada’s economic growth in 2010 and 2011.

Assembly of First Nations National Chief Shawn A-in-chut Atleo Speech – THE ECONOMICS OF RECONCILIATION – April 23, 2012

July 16, 2012

This speech was given at the Canadian Club of Toronto on April 23, 2012

Check Against Delivery

THE ECONOMICS OF RECONCILIATION

I am honoured to be with you here again. I remember well being here last year speaking about the enduring relationship between First Nations and the rest of Canada.

I spoke of the proud heritage of indigenous nations and the Treaties made between our nations and the newcomers. The relationships set in Treaty are important to Canada and represent the way forward. As we discussed, the stark and tragic inequities First Nations face today reveal that this relationship has been denied too long. We shared views of the possibility of a new story – a story of hope and opportunity for First Nations.

Today, I want to continue this conversation but turn our focus sharply to the economic side of the story. Reconciliation is a complex concept but we can all agree it compels action – right now.

I will suggest that reconciliation can be best approached as the building of a re-newed foundation with four cornerstones: rights recognition, healing and education, capacity and a fourth which will be my principal focus today – seizing economic potential.

Hollywood Far North: How Sudbury and Sault Ste. Marie are becoming moviemaking centres – by Linda Barnard (Toronto Star – July 14, 2012)

July 16, 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.

SAULT STE. MARIE, Ont.— Heather Graham, costumed in a skin-tight floral dress and cherry-coloured stilettos, is whipping up chocolate soufflés under the watchful eye of fellow actor Joe Mantegna. What would the workers at D.D.I. Seamless Cylinder make of their former workplace?

As L.A. film publicist Steven Zeller put it as he opened the door to what was once a fire extinguisher parts manufacturer on the outskirts of Sault Ste. Marie: “Welcome to Hollywood north-north.”

The empty factory became a sound stage in May for darkly comic thriller Compulsion and temporary home to a pair of elaborate New York City apartment sets inhabited by obsessive-compulsives played by Boogie Nights star Graham (who fancies herself a TV chef) and The Matrix’s Carrie-Anne Moss, whose character is an emaciated, bitter former child star. The film is a remake of South Korean director Cheol-su Park’s 301, 302.

CEOs urge governments to promote native input in natural resource projects – by Heather Scoffield (Globe and Mail/The Canadian Press – July 15, 2012)

July 16, 2012

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.

OTTAWA — The Canadian Press – Canada’s aboriginal communities have found a powerful ally in their bid to be treated as equal partners in the discussion about tapping the country’s natural-resource wealth.

Big business wants them at the negotiating table, and is urging the federal and provincial governments to lend a helping hand.

A new report due Monday from the Canadian Council of Chief Executives, prepared for Canada’s premiers in advance of their meeting later this month, urges governments to make aboriginal communities full partners in developing energy and mining projects.

Governments should help train a growing aboriginal workforce and develop new ways to support aboriginal communities so that they can participate vigorously in business initiatives and negotiations to share the wealth, says the report, a copy of which was obtained by The Canadian Press.