Asteroid-prospecting space plan unveiled – by CBC Radio Sudbury (January 22, 2013)

http://www.cbc.ca/sudbury/

Tiny FireFlies to start exploring in 2015

Laptop-sized spacecraft are slated to blast off for nearby asteroids in 2015, paving the way for larger ships to mine the space rocks for metals and fuels, under plans unveiled Tuesday by a U.S. firm.

Deep Space Industries intends to launch three 25-kilogram FireFly spacecraft – described by the company as slightly bigger than a laptop — on two- to six-month one-way prospecting trips as part of a long-term vision to harvest resources from asteroids.

Those resources could refuel satellites and spacecraft en route to Mars or be used to build orbiting space platforms to deliver power and high speed internet anywhere on Earth, the company said at a news conference at the Santa Monica Museum of Flying in California.

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NEWS RELEASE: Teck Named to Global 100 Most Sustainable Corporations List

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 23, 2013) – Today at the World Economic Forum in Davos, Switzerland, Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) (“Teck”) was recognized as one of the Global 100 Most Sustainable Corporations for 2013 by media and investment research company Corporate Knights. Teck was the top ranked Canadian company on the Global 100 list.

“Our people live and work in the communities where we operate and they care deeply about doing the right thing for future generations,” said Don Lindsay, President and CEO. “This ranking recognizes the progress we’ve made, but we know there is more work to be done. Teck remains committed to responsible resource development and to considering people, communities and the environment, now and in the future, in every decision we make.”

Launched in 2005, the ranking of the Global 100 Most Sustainable Corporations was recently recognized as the world’s most credible corporate sustainability ranking in a GlobeScan/SustainAbility survey. The top 100 companies are selected from all publicly traded companies with a market capitalization over USD$2 billion. Companies were evaluated based on a range of sector-specific sustainability metrics, such as water, energy and carbon productivity, and safety performance.

For more information about the Global 100 Most Sustainable Corporations and the full rankings, visit: www.corporateknights.com/global100.

Teck has also been named to the Dow Jones Sustainability World Index (DJSI) for the last three years, which ranks Teck’s sustainability practices in the top 10 per cent of companies in the resource sector worldwide. For more information on Teck’s approach to sustainability, visit: www.tecksustainability.com.

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[Timmins] Xstrata metallurgical site remediation underway – by Liz Cowan (Northern Ontario Business – January 22, 2013)

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.

Following 2020, it may be difficult to tell what once stood at the Kidd Metallurgical (Met) site in Timmins. Since copper and zinc smelting and refining operations came to an end in 2010, remedial and reclamation work has been ongoing at the site.

Xstrata Copper moved those operations to its Horne smelter in Rouyn, Que., and more than 650 employees lost their jobs. However, the concentrator remains at the site and about 220 are still employed.

The Kidd concentrator produces copper and zinc concentrates and treats all ore from the Kidd Mine. The remaining Met site operations will close once the Kidd Mine ceases operations, destined for 2020. Then, a remedial project will be undertaken for the remaining facilities at the Met site.

Since 2010, about 75 per cent of the plant remained empty and the company, as part of its permit requirements, had to initiate a reclamation project to deal with that portion.

“We removed all the infrastructure and took down a large amount of (empty) buildings,” said John Stroiazzo, manager of projects and closed sites for Xstrata. “The electrical power line and the water pipes, and everything that serviced the facility were removed. It took about 12 to 14 months to remove all of that.”

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Excerpt from “The History of Mining: The events, technology and people involved in the industry that forged the modern world” – by Michael Coulson

To order a copy of The History of Mining please click here: http://www.harriman-house.com/products/books/23161/business/Michael-Coulson/The-History-of-Mining/

CANADIAN GOLD RUSHES/ NOAH TIMMINS (1867-1936)

The 19th century ended with Canada firmly in the world’s consciousness thanks to the fabulous Klondike gold rush. By the middle of the 20th century Canada would be established as one of the most powerful economies in the world and an important diplomatic player following its key roll on the Allied side in both world wars. The economic underpinning, which enabled Canada to advance to the edge of major power status, was mining. In 1900 the country produced minerals to the value of US$64 million – by the beginning of the Second World War that figure had risen to $567 million and today it is nearer to $45 billion.

Today Canada’s population is only around 35 million, making it very much a mid-range country in those terms, but it is a long-standing member of the Group of 7 (or G7), the meeting of the largest economies in the world. Its standard of living is amongst the highest in the world and its proximity to the world’s largest economy, the USA, is of major benefit as Canada is an exporter of high quality, high value, advanced products to its rich neighbour.

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Canadian miners caught up in Mali unrest – by Jessica McDiarmid (Toronto Star – January 23, 2013)

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.

Canadian miners in Mali are grappling with security as a French-led assault pushed rebel forces further away from the capital on Tuesday.

Some companies have reduced operations, cancelled exploration or pulled out foreign workers. But mining operations are still carrying on normally in Mali’s gold-rich southwest, where most companies work hundreds of kilometres from the fighting that has gripped the vast West African nation.

Toronto-headquartered IAMGOLD evacuated about six Canadian workers from several areas in early January when rebels began advancing southward toward the capital, Bamako, as a “precautionary measure,” said Bob Tait, vice president of investor relations.

It has cut some exploration activities but its two mines continue to operate normally, he said. IAMGOLD holds equal shares in the Sadiola and Yatela gold mines with AngloGold Ashanti, which operates both mines. Mali is Africa’s third-largest gold miner after Ghana and South Africa. Production — and investment — is rising as its government looks to take advantage of high metal prices worldwide.

As of 2011, Canadian mining assets in the country were nearly $500 million, ranking it ninth in Africa. There are more than 15 Canadian mining and exploration firms working in the country, according to Natural Resources Canada.

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Inmet digs in its heels on Cobre Panama’s value – by Pav Jordan (Globe and Mail – January 23, 2013)

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.

A $5.1-billion takeover bid for Inmet Mining Corp. does not begin to capture the value of its star copper asset in Panama, said chief executive officer Jochen Tilk, and the project may be even bigger than currently proposed.

“[The bid amount] is simply too low,” Mr. Tilk said in an interview after the Toronto mining company filed a circular on Tuesday that recommended shareholders vote against a hostile, $72-a-share bid from rival First Quantum Minerals Ltd.

Citing the conclusions of a special committee of independent directors as well as input from financial and legal advisers, the Inmet board also said it is talking to a number of third parties regarding strategic alternatives to the hostile bid, and has signed confidentiality and standstill agreements with “a number” of those.

Cobre Panama is due to come on stream in 2016, which would add, under the current design, 300,000 tonnes of copper to global production at a time when demand is expected to rise and there will be scant new supply.

The $6.2-billion project will be the largest mining development in Central America and Mr. Tilk said that by adding another one or two milling lines on top of what is already contemplated, there is the potential for a mine with annual output of as much as 500,000 tonnes.

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Nebraska nod puts Keystone pipeline decision squarely on Obama by Shawn McCarthy and Nathan Vanderklippe (Globe and Mail – January 23, 2013)

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 and CALGARY — TransCanada Corp.’s controversial Keystone XL pipeline project has cleared a key hurdle in Nebraska, leaving U.S. President Barack Obama to decide whether the promised benefits of energy security and construction jobs will trump concerns over climate change.

In a show of optimism, TransCanada chief executive officer Russ Girling said Tuesday that his company is gearing up to begin work on one of the biggest construction projects the United States can expect this year as soon as there is a positive decision from Washington.

In a letter to the President, Nebraska Governor Dave Heineman said the state has approved TransCanada’s new route that avoids a fragile ecological zone and that the project would provide $418-million (U.S.) in economic benefits in his state alone.

Mr. Obama cited the potential impact on Nebraska’s Sandhills region when he first delayed the project last November and told TransCanada to work with Nebraska on a new route.

With Mr. Heineman’s approval, all eyes now turn to Washington, where Mr. Obama signalled in his inaugural address Monday that the fight against climate change will rank high on the agenda for his second term, along with boosting the sluggish economic recovery.

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Keystone vs. religion – by Peter Foster (National Post – January 23, 2013)

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

Climate change isn’t about policy as much as religion

Nebraska Governor Dave Heineman’s approval on Tuesday of the revised Keystone XL pipeline route provided some counterbalance to President Obama’s recommitment to the climate agenda in Monday’s inaugural speech, but the pipeline is still far from a shoo-in. Meanwhile, the renewed emphasis on climate change signals more comprehensive uncertainty for Canada/U.S. relations. The problem, as ever, is that climate change isn’t so much about policy as religion.

The ever-perceptive Adam Smith noted how political factions often recruit God to their cause. “Even to the great Judge of the universe,” wrote Smith, “they impute all their own prejudices, and often view that Divine Being as animated by all their own vindictive and implacable passions.” Mr. Obama left us in no doubt on Monday that God demanded action on climate. “That,” said Mr. Obama, “is how we will preserve our planet, commanded to our care by God.”

The speech confirms that Mr. Obama’s re-election — contrary to what an overwhelming majority of Canadians apparently think — is bad news for Canada, first in terms of what Mr. Obama’s rigid statism and fiscal fecklessness may do to the U.S. economy, and then in terms of policies that specifically affect Canada, primarily on energy and climate.

A common take on the inaugural speech was that it signalled a No More Mr. Post-Partisan Nice Guy. In fact, there never was such a guy. Mr. Obama’s attitude to opponents has always been dismissive. His self-righteous approach was summed up in the assertion that “We cannot mistake absolutism for principle or substitute spectacle for politics, or treat name-calling as reasoned debate.”

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Laurentian speeds past $50M fundraising goal to $64M – by CBC Radio Sudbury (January 22, 2013)

http://www.cbc.ca/sudbury/

Sudbury university will wrap up two-year fundraising campaign by the end of March

Laurentian University has reached its goal of raising $50 million dollars ahead of schedule. Two years ago, the school began fundraising at the same time it celebrated its 50th anniversary. The university managed to raise $64 million, exceeding its target, with the help of donations from private companies and individuals.

“I’ve been very impressed … with the many gifts from other alumni, families in Sudbury and companies as well,” said Laurentian president Dominic Giroux. He noted universities from around the province now rely on the private sector for some of their funding.

“We look to private donors … to provide added value features to attract top students … to continue to attract top faculty,” he said.

Provincial funding per student has been decreasing in Ontario since 2007, Giroux added. While the school has already raised $64 million, it will continue its planned fundraising campaign until its conclusion at the end of March.

The money will go toward numerous programs and projects, including mining research, construction projects, graduate fellowships and scholarships.

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Lake Shore anticipates ‘big year’ – by Benjamin Aubé (Timmins Daily Press – January 23, 2013)

The Daily Press is the city of Timmins broadsheet newspaper.

TIMMINS – Lake Shore Gold’s two superstar mines just keep on growing. The company’s vice-president of operations, Dan Gagnon, didn’t have very many negatives to present to Timmins city council during a review of 2012 and a look ahead to Lake Shore’s upcoming operations in 2013.

Gagnon said that while the Fenn-Gib property, East of Matheson, has “great potential for an open pit, our great focus will be on our two main assets, the Timmins West and Bell Creek complexes.” He called 2012 a “very exciting and good year,” and said the company is poised to reach new heights in 2013.

“We did a lot of mine building, a lot of mill construction over the past year, and a lot of improvement in our systems,” said Gagnon. “Now this year, I think we’re seeing the benefits of all that work. I think we’re poised for a break-out this year.

“We met production guidance and development and expansion objectives and expanded our milling capacity by 25%, and we’re looking to increase production capacity to 3,000 tons per day by second quarter of 2013.”

After processing 85,000 ounces of gold at the two mines last year, Gagnon said the company is expecting to produce up to 130,000 ounces in 2013 and 150,000 ounces by 2014.

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Rio reviews Mozambique as miners retreat from big plans – by Agnieszka Flak and Clara Ferreira-Marques (Reuters.com – January 22, 2013)

http://www.reuters.com/

JOHANNESBURG/LONDON, Jan 22 (Reuters) – Rio Tinto has begun a review of its Mozambique coal mining operations which cost it a $3 billion write-off, reconsidering development plans, partners and its options for getting the coal from pit to port.

Rio’s troubles in Mozambique offer a cautionary tale on big projects in new areas, which have become increasingly unattractive for miners under pressure from shareholders to control spending and improve returns.

A source familiar with the project said the review was underway. “The reality is that Rio has to look at what it has, and at what options there are,” said the source. The focus is not currently on a sale, although a new project partner could help Rio to share the infrastructure and development costs.

Rio sacked chief executive Tom Albanese last week when it wrote off $14 billion on the value of its aluminium arm and the Mozambique coal assets it bought in 2011. Mozambique’s infrastructure had proved more challenging than expected, Rio said, and estimates of recoverable coking coal used in steel production were lower than expected.

Benga mine, in which India’s Tata Steel owns a minority stake, began exporting last year but the amounts remain a small fraction of the eventual estimated capacity of Rio’s total Mozambique coal assets.

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Open ground, ties and under-appreciated geology – by Kip Keen (Mineweb.com – January 22, 2013)

http://www.mineweb.com/

A review of some of the notable conversations had on the floor at Vancouver’s latest junior get together.

VANCOUVER, BC (MINEWEB) – I won’t pretend this is a comprehensive list of totally awesome must-have junior investments rather it is a record of some excellent conversations, had over the last few days at Vancouver’s latest junior investment show, with a handful of junior management teams from companies I haven’t written much about before, if at all.

So they’re now, here, getting some space.

Donner Metals goes first because their vice president of exploration, Robin Adair, wins first prize for best tie present at the Vancouver Resource Investment Conference. It had a colourful print, lots of pink, that showed a geological map. I forgot to ask of what, and I sheepishly sent a follow up email to inquire about the print in question.

That likely came as strange correspondence. I have yet to get a reply.

Nonetheless, you might guess it was related to Donner’s Bracemac-McLeod zinc-polymetallic discovery, made in 2006, of which it owns 35 percent, and that 65-percent owner Xstrata is now putting into commercial production in the next quarter or so. Donner was once mentioned in these pages as a potential zinc takeover target by Haywood Securities’ Stefan Ioannou.

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