Archive | Canada Mining

FARC ceasefire makes Colombia’s resources attractive for Canadian firms, but challenges remain – by Peter Koven (Financial Post – June 24, 2016)

http://business.financialpost.com/

The Colombian government has reached a landmark ceasefire agreement with the country’s largest rebel group, a move that could make its resource sector more attractive for companies in Canada and elsewhere.

The historic signing of the agreement between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) took place in Havana, Cuba on Thursday. If the peace is maintained, this deal will end a bloody conflict that has lasted more than five decades, caused more than 200,000 deaths and displaced millions.

President Juan Manuel Santos and FARC leader Timoleon “Timochenko” Jimenez signed the accord, with UN Secretary-General Ban Ki-moon looking on.“Let this be the last day of the war,” Timochenko said, according to reports. Continue Reading →

Canadian Rich New Diamond Mine Ready to Sparkle: The Five-Minute Interview: Patrick Evans – by Avi Krawitz (Diamonds.net – June 23, 2016)

http://www.diamonds.net/

RAPAPORT… Gahcho Kué, billed as the largest and richest of the new diamond mines, is now “weeks rather than months” from launching more than 20 years after it was first discovered in Canada’s Northwest Territories. Patrick Evans (pictured below), president and chief executive officer of Mountain Province, took time out to speak with Rapaport News about the prospects for the mine, which Mountain Province co-owns with De Beers, and what the diamond market can expect from this new source of rough.

Rapaport News: When will you hold your first sale given that production is slated for the third quarter?

Patrick Evans: Sales will depend on how quickly production builds up. It will take the processing plant around six months to reach commercial production, which is about 70 percent of capacity. We expect to take about eight months to reach full capacity. Continue Reading →

Canadian mining company hopes Liberals will intervene in tax dispute with Mexico – by Lee Berthiaume (National Post – June 23, 2016)

http://news.nationalpost.com/

Ottawa Citizen – OTTAWA — A Toronto-based mining company locked in a dispute with Mexico’s tax authorities is hoping the Liberal government will raise its case when Mexican President Enrique Pena Nieto visits Canada next week.

The government has indicated it doesn’t plan to get involved. In an email, Global Affairs Canada spokesman Austin Jean said the government is following the case closely, but added: “This dispute is a private matter between an investor and the Mexican government.”

However, the head of Toronto-based Primero Mining Corp. says the government needs to press Mexican authorities to ensure Canadian investors are treated fairly — or there could be more such disputes in the future. Continue Reading →

There are two types of mine operators that are looking at battery technology – by Michael Allan McCrae (Mining.com – June 22, 2016)

http://www.mining.com/

Existing mines that want to go deeper are looking at battery technology, says Andrew Lyon, General Manager for Atlas Copco Mining and Rock Excavation.

Lyon, who spoke to MINING.com at the CIM convention in May, was introducing his company’s new battery operated Scooptram 7. Lowering the overall operating and capital cost of the mine is what’s driving battery adoption.

As well as existing mines, Lyon said that new mines are being considered that will use battery technology entirely. “Currently the mines that are talking to us are about to go deeper,” says Lyon. “They want to continue their mine life without having to put more capital into ventilation infrastructure, which is incredibly expensive. Continue Reading →

Alberta coal communities look at what future holds as age of coal comes to end – by Ian Bickis (Vancouver Sun – June 21, 2016)

http://www.vancouversun.com/

THE CANADIAN PRESS – CALGARY – Coal-dependent communities in Alberta are taking a hard look at their future as the age of coal in the province starts to draw to a close.

For Grande Cache, Alta., the closure of its coal mine last year and the looming final shutdown of Maxim Power’s Milner coal-fired power plant has put the very future of the town itself in question.

Mayor Herb Castle says the town council has requested that the regional government study whether Grande Cache, about 430 kilometres west of Edmonton, should dissolve and become part of the municipal district of Greenview. “They will examine all our finances, our infrastructure, our longer-term needs, and say either you’re viable or you’re not viable,” he said. Continue Reading →

First Nations deeply involved in resource development: Indian Resource Council – by Bob Weber (Global News – JUne 21, 2016)

http://globalnews.ca/

The Canadian Press – Canada’s First Nations have a stake worth hundreds of millions of dollars in resource industry development and are likely to call more of the industry’s shots in the future, concludes a research paper.

“There is not going to be a very substantial expansion of the resource sector in Canada without full partnerships with indigenous Canadians,” said Ken Coates of the University of Saskatchewan.

Coates wrote the report for the Indian Resource Council, an aboriginal group that represents First Nations oil and gas producers. Coates notes that aboriginal opinion on new energy, pipeline and mineral projects reflects the same splits in the rest of Canada.  Continue Reading →

Yarmouth County lithium deposit draws Chinese company – by Paul Withers (CBC News Nova Scotia – June 20, 2016)

http://www.cbc.ca/news/canada/nova-scotia/

There is an increased demand for the rare mineral used in electric car batteries and smart phones

A Yarmouth County lithium deposit first staked nearly two decades ago is attracting new interest as demand increases for the rare mineral used in electric car batteries and smart phones.

The deposit — the only one in the Maritimes — triggered a huge bulk sample order from an unidentified Chinese mining company, and hundreds of mineral exploration claims filed in just two days in April.

“It’s the hot commodity now,” veteran prospector John Wightman said. Wightman, who is with Champlain Mineral Ventures, said he and his partners staked the original 1,500 hectare claim near the hamlet of Carleton in 1997. Now they’re watching others jump into the area. Continue Reading →

Ottawa to launch full review of environmental assessment process – by shawn McCarthy (Globe and Mail – June 21, 2016)

http://www.theglobeandmail.com/

The Liberal government is undertaking a wholesale review of the environmental rules for approving major resource projects, though the current reviews of controversial pipeline proposals will proceed under the existing regime.

The federal announcement came as the City of Vancouver launched a court challenge against the National Energy Board’s review of Kinder Morgan Inc.’s proposed $6.7-billion expansion of the Trans Mountain pipeline to nearby Burnaby, B.C.

In a statement, Mayor Gregor Robertson called the NEB review “flawed and biased,” as city lawyers argued the regulatory panel failed to adequately consult communities along the pipeline’s path and ignored scientific evidence. Continue Reading →

[Archives: Sherritt International History] Marching to a different drum – by Jane Werniuk (Canadian Mining Journal – February 1, 2008)

http://www.canadianminingjournal.com/

Sherritt International is a resources company built from the bricks of a Canadian nickel miner, which recently celebrated its 80th anniversary, shown by the timeline in this article.

Sherritt International is a resources company built from the bricks of a Canadian nickel miner, which recently celebrated its 80th anniversary, shown by the timeline in this article. Despite the intervening decades and corporate upheavals, Sherritt is still a nickel company grounded in the strength of its research, technical innovation and operational expertise. But it has become international, and is aggressively focusing on growth in all its business units–metals, coal, power generation, and oil and gas.

In a recent two-hour interview with the company’s president and CEO Jowdat Waheed at its uptown Toronto head office, I learned that Sherritt has decided to get its story in front of the public, which prompted Waheed to invite me to visit the company’s metals, technology and coal offices and facilities in western Canada followed by a trip to see its Cuban assets, all in four days in early February. Continue Reading →

Mayan families’ quest for justice against Canadian mining company HudBay – by Marina Jimenez (Toronto Star – June 18, 2016) (Part 1 of 2)

https://www.thestar.com/

EL ESTOR, GUATEMALA—Ribbons of sweat roll down German Chub’s face, as he pushes his wheelchair around his rocky yard, careful not to run over the hens pecking in the dirt or bump into his neighbour’s free-roaming pig.

An illiterate Mayan Q’eqchi’ farmer who grows mangoes and bananas, Chub’s life would be difficult enough in this small, indolent city in eastern Guatemala, where the temperature soars to 38C, even if he weren’t paralyzed, with a bullet lodged in his spine.

Chub maintains a stiff resolve, proudly showing off his ability to saw logs, and even hoist himself into the passenger side of a pickup truck. But life is a struggle. Sometimes he can’t make it to the bathroom in time. Sometimes villagers laugh at his disability. And sometimes he is crying inside, despite the ready smile on his face. Continue Reading →

How a Guatemalan murder trial could forever change Canadian overseas mining – by Marina Jimenez (Toronto Star – June 19, 2016) (Part 2 of 2)

https://www.thestar.com/

EL ESTOR, GUATEMALA—The murder trial of Mynor Padilla, a former security guard for a mine owned by a then subsidiary of HudBay Minerals Inc., provides a fascinating glimpse into Guatemala’s problematic justice system.

Padilla, 52, is charged with killing Adolfo Ich, a Mayan Q’eqchi’ community leader, and shooting German Chub, a bystander, during a protest on contested land at Fenix nickel mine in El Estor, in eastern Guatemala, on Sept 27, 2009.

These alleged crimes are also at the centre of a series of landmark lawsuits in Ontario Superior Court, where HudBay, a Toronto-based company, faces three negligence claims, launched by Ich, Chub and 12 other Q’eqchi’. The cases are being watched closely by Canada’s mining companies, as it is the first time lawyers are attempting to hold a Canadian company liable for actions of a subsidiary operating overseas. Continue Reading →

Sudbury forum: Natural resources still king – by Debbie M. Nicholson (Sudbury Star – June 18, 2016)

http://www.thesudburystar.com/

Debbi M. Nicholson is president and CEO of the Greater Sudbury Chamber of Commerce.

The Canadian Chamber of Commerce network is celebrating resource champions across the nation. Chambers recognize that Canada’s future prosperity means creating the conditions for our natural resource sectors to succeed.

Greater Sudbury is home to the largest integrated mining complex in the world. Mining and mining supply and services is a key economic driver for our community and employs more than 14,000 people in Sudbury. The natural resource sector contributes greatly to the economic vitality of our community and this is why we decided to join the Resource Champions Initiative of the Canadian Chamber of Commerce.

Canada’s chamber network – a group of 420 chambers from across the country representing every industrial sector – knows how important forest products and fisheries, miners and farmers, and energy producers of all stripes are to Canada’s economy. Continue Reading →

Barrick Gold Corp needs to consider buying big assets again – J.P. Morgan – by Jonathan Ratner (Financial Post – June 16, 2016)

http://business.financialpost.com/

Barrick Gold Corp. needs to “think big” when it comes to acquisitions, with a new report suggesting now is the time to refill its project pipeline to avoid steep production declines in the coming years.

“Barrick is the world’s largest gold miner and – like a supertanker – has to move early to avoid bad outcomes,” John Bridges at J.P. Morgan told clients on Thursday.

The analyst noted that while Barrick’s improving share price could allow it to buy some smaller miners, it also needs to look for large mines, albeit ones that don’t add too much stress from an operational perspective.

“Now is probably the time to think about reserve replacement,” Bridges said, noting that roughly a third of Barrick’s reserves are at projects with no current mine building plans. Continue Reading →

Resource rulers: Canada’s First Nations hold all the cards on the road to resource development going forward – by Bill Gallagher (Corporate Knights – June 14, 2016)

http://www.corporateknights.com/

Canada’s new government has lowered the boom on resource extraction approvals that don’t meet federal expectations for controlling greenhouse gas emissions. So who wants to be the next batter up in the liquefied natural gas (LNG) export sweepstakes – the first to test Ottawa’s resolve on meeting one of the Trudeau government’s primary election pledges?

It may come as a surprise to learn that Environment Minister Catherine McKenna has already approved a west coast LNG export project as one of her first executive decisions, notably doing so one week before subjecting another LNG export project to further intense regulatory scrutiny.

Woodfibre LNG, owned by Pacific Oil & Gas and sited at Squamish, British Columbia, is the approved project. It then immediately awarded a major engineering contract, thus setting itself ahead of the pack as competing projects tumbled back to the regulatory blender to face the attendant uncertainty and delay. Continue Reading →

Toronto firm takes the long view when it comes to metal prices – by Ian McGugan (Globe and Mail – June 14, 2016)

http://www.theglobeandmail.com/

A Toronto-based private equity firm is finding a receptive audience among institutions looking for a way to bet on a long-term recovery in metal prices.

Waterton Global Resource Management said on Tuesday that it has raised $725-million (U.S.) to bankroll a fund that will invest in gold and copper properties in politically stable jurisdictions.

The Waterton Parallel Fund intends to follow in the footsteps of the company’s two-year-old Precious Metals Fund II, according to Isser Elishis, Waterton Global’s managing partner and chief investment officer. The earlier fund raised more than $1-billion in 2014, according to a company news release. Continue Reading →