March 5, 2015 – Republic of Mining

Thirty-three miners dead after pit blast in east Ukraine – by Maria Tsvetkova (Reuters U.S.A.- March 4, 2015)

March 5, 2015

http://www.reuters.com/

DONETSK, Ukraine – (Reuters) – Thirty-three miners were confirmed dead late on Wednesday after a coal mine blast in the rebel-held city of Donetsk near the battle front in eastern Ukraine, indicating no one trapped in the rubble survived.

Mine officials said the explosion was most likely caused by gas and not fighting in the war between Moscow-backed rebels and Ukraine government forces. Nevertheless, Kiev suggested the war had made the disaster worse, accusing the separatists of holding up a rescue effort by restricting access.

Outside the gates of the Zasyadko mine, about 30 relatives clamored for information about any survivors. Sergei Baldayev, a miner injured in the blast, mingled with the crowd, his face covered in scratches and one arm hanging motionless by his side, the result of a broken collarbone.

The sister of one miner who was in the pit at the time of the explosion, Alexei Novoselsky, stood in tears. “Tell me, are there survivors? Why are you concealing the truth?” she asked as a rescue worker tried to calm her. The Donetsk regional administration said 16 injured people were in hospital.

NEWS RELEASE: The Prospectors & Developers Association of Canada’s 2015 Convention exceeds 23,500 attendees

March 5, 2015

Toronto, March 4, 2014 – The Prospectors & Developers Association of Canada (PAC) welcomed 23,578 attendees from over 100 countries to its annual convention. The crowd included investors, analysts, mining executives, geologists, government officials and students who made the annual pilgrimage to the Metro Toronto Convention Centre (MTCC) for the largest exploration and mining event in the world.

“We consider this a very successful year, attendee feedback has been extremely positive and the number of attendees is similar to last year,” says PDAC President Rod Thomas. “The quality of networking and learning opportunities continues to be a prime attractor for attendees.”

The PDAC 2015 Convention started with a series of positive announcements supporting Canada’s mineral exploration and mining industry, including the federal government’s renewal of the Mineral Exploration Tax Credit (METC) and the appointment of Jeffrey Davidson as Canada’s Corporate Social Responsibility (CSR) Counsellor for the extractive sector. The federal government, in partnership with the Ontario government, jointly announced the study of an all-weather transportation corridor in the Ring of Fire region. In addition, the Government of Canada signed a memorandum of understanding (MOU) with the Republic of South Africa during PDAC 2015.

“The provincial and federal governments in Canada are important partners in creating conditions that allow the mineral industry to flourish nationally and internationally,” says PDAC Executive Director Andrew Cheatle. “We look forward to further building upon the constructive activities that occurred at PDAC 2015.”

From prime rib to chips and dip: Lean times at mining’s annual conference – by Susan Taylor and Euan Rocha (Reuters U.K. – March 4, 2015)

March 5, 2015

http://uk.reuters.com/

(Reuters) – When the world’s miners head for Toronto each year to attend their industry’s annual conference, they arrive with certain expectations. They’re accustomed to finding oyster bars, rowdy parties, open bars with high-end liquor and elegant hotel suites.

But this year’s gathering of the Prospectors and Developers Association of Canada (PDAC) is a more subdued affair, with lavish spreads and grand lodgings increasingly giving way to cheese platters and Airbnb rentals.

After a years-long downturn in the mining sector – and with little relief in sight – the 2015 convention, which runs through Wednesday, has lost some of its glitz.

“We’re seeing far less prime rib, far more chips, far more salsa,” said Benjamin Cox, chief executive of explorer Aston Bay Holdings Ltd. (BAY.V). “I’m really depressed that I have to drink bourbon versus single malt scotch, it just doesn’t do it for me.”

Striking a more serious note, Cox also summed up the overall mood of the miners: “Everyone is panicked in the industry. If you are not humbled this year, whether you work for a major or a junior or anyone in-between, you are insane.”