March 25, 2015 – Republic of Mining

Matawa Chiefs Oppose Noront Ring of Fire Plans – by Staff (Netnewsledger.com – March 25, 2015)

March 25, 2015

http://www.netnewsledger.com/

THUNDER BAY ON – BUSINESS – Matawa First Nation Chiefs re-affirmed their commitment to a community based processes for Ring of Fire Development, including creating environmental protections and economic opportunities which are driven by their community members, not just industry plans.

The recent purchase announcement by Noront goes against the Matawa First Nations Unity Declaration signed in Webequie First Nation July 13, 2011.

The Chiefs have repeatedly signalled that genuine partnership in development will be the only way forward in the Ring of Fire, and Noront seems intent on driving its agenda, rather than working together.

The Matawa Chiefs are examining legal and political options on both the purchase agreement and the rumored advancing of the Environmental Assessment process beyond the draft Terms of Reference phase. These moves are seen as a barrier to future opportunities with the First Nations as well as threatening Aboriginal and Treaty Rights. The Chiefs were informed of the deal at the same time as the public, and while negotiating the next steps on an enhanced environmental assessment.

Chief Peter Moonias outlined the key reasons why the Chiefs are frustrated with Noront, “the Cliffs chromite is on our lands, we have jurisdiction here as well as Aboriginal Title and Treaty rights in the lands that hold the Cliffs chromite.

DEALTALK-Brazil’s Vale likely to sell rail, ships before mining assets – by Stephen Eisenhammer and Guillermo Parra-Bernal (Reuters U.S. – March 25, 2015)

March 25, 2015

http://www.reuters.com/

(Reuters) – Brazil’s Vale SA may find it easier to dispose of giant ships and part of its stake in a rail logistics business before selling mining assets, as the world’s top iron ore producer looks to raise cash amid a price rout, according to four sources with knowledge of the situation.

Struggling with a slump in iron ore prices, Vale presented a list to investors in December of nine possible options to raise cash. Of the options, only a coal joint venture with Japanese trading house Mitsui & Co Ltd has been announced so far.

A number of the other eight options seem increasingly challenging as the risk associated with both Brazil and mining-related investments continue to mount, said three of the sources, who sought anonymity to speak freely about the matter.

At this point, selling a group of giant ore carriers known as Valemaxes, and disposing of a part, or all, of a 43.8 percent stake in rail freight firm MRS Logística SA seem the best options for Vale, those sources said. Vale declined to comment.

“The infrastructure and logistics play could help Vale unlock value more quickly than the mining assets, which markets are not pricing fairly,” the first source said, adding that “the cash impact of the former options is not great, creating a dilemma for the company.”

NEWS RELEASE: MATAWA CHIEFS OPPOSE NORONT’S PURCHASE OF CLIFFS ASSETS, AND LACK OF ENGAGEMENT ON ENVIRONMENTAL ASSESSMENT

March 25, 2015

THUNDER BAY ON – MARCH 25, 2015: Matawa First Nation Chiefs re-affirmed their commitment to a community based processes for Ring of Fire Development, including creating environmental protections and economic opportunities which are driven by their community members, not just industry plans.

The recent purchase announcement by Noront goes against the Matawa First Nations Unity Declaration signed in Webequie First Nation June 2011. The Chiefs have repeatedly signalled that genuine partnership in development will be the only way forward in the Ring of Fire, and Noront seems intent on driving its agenda, rather than working together.

The Matawa Chiefs are examining legal and political options on both the purchase agreement and the rumored advancing of the Environmental Assessment process beyond the draft Terms of Reference phase. These moves are seen as a barrier to future opportunities with the First Nations as well as threatening Aboriginal and Treaty Rights. The Chiefs were informed of the deal at the same time as being told that the province has set an April 1 deadline for a decision on the next step in Noront’s environmental assessment for a proposed nickel mine in the Ring of Fire.

The Matawa Chiefs are well-aware that private investors are most interested in a stable and secure investment, and that none of the proposed projects will receive financing for development without the support of the First Nations. Media is invited to come speak with the nine MAtawa Chiefs at 4:00pm at the Matawa First Nation offices in Thunder Bay.

Police clash with opponents of $1.4 bln copper mine in Peru – by Mitra Taj and Marco Aquino (Reuters India – March 25, 2015)

March 25, 2015

http://in.reuters.com/

(Reuters) – Police in Peru fired tear gas and rubber bullets on Tuesday at opponents of Southern Copper’s $1.4 billion proposed Tia Maria mine in protests that threatened to further delay the project.

The company said early last month that it expected to receive a building permit by the end of March following the government’s key approval of its environmental plan last year. Peru had rejected Southern Copper’s first environmental plan amid a wave of protests that turned deadly in 2011.

Protesters on Tuesday called for the government to nix the project because they say it will pollute agricultural valleys, said rice farmer and activist Juan Carrasco, 58. “We’re going to keep protesting tomorrow and everyday until Tia Maria leaves,” Carrasco said.

Three protesters were wounded and two arrested in the clashes in Peru’s southern region of Arequipa, said local police chief Enrique Blanco. TV images showed police firing tear gas at a crowd on a highway and protesters running into nearby fields.

Blanco said between 600 and 700 protesters, mostly women, took part in the march on Tuesday – the second day of protests. Carrasco said there were at least 3,000.

Why Teck Resources should buy HudBay Minerals: Analyst (March 24, 2015)

March 25, 2015

http://www.bnn.ca/

– by Michael Chu, Producer, BNN

With rumblings in the market that Teck Resources Ltd. (TCKb.TO -2.33%) could be on the prowl for acquisitions–especially on the copper front–could HudBay Minerals Inc. (HBM.TO -0.95%) be square in the sights for the Vancouver-based base metals giant?

Analysts at National Bank Financial outline the perfect storm of events that could bring Teck and HudBay Minerals together.

“The combined company would provide; near-term growth, long-life diversified operations, and carry less financial risk. In our opinion, the possible combination of these two companies is intriguing and would result in an improved outlook for Teck Resources,” wrote Shane Nagle, metals and mining analyst at National Bank Financial in a note to clients.