Archive | Canada Mining

How Canadian chauvinism led to the decline of the TMX – by Terence Corcoran (National Post – (November 27, 2015)

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

It was the fullest expression of Canadian corporate nationalism. A convergence of the mightiest financial poobahs in the country: bank executives, public pension managers, regulators, politicians — all out to protect the vital organs of Canadian capitalism, the nation’s stock exchanges, from the foul clutches of a foreign company.

“We must ensure,” said Jim Prentice, then vice-chair of Canadian Imperial Bank of Commerce, “that the so-called ‘mind and management’ of Canadian finance do not migrate to London, or for that matter to New York or Hong Kong.”

That was in March 2011. More than four years have passed since Prentice, along with TD Bank CEO Ed Clark and others, joined forces to thwart a proposed merger of the TMX with the London Stock Exchange. Continue Reading →

[Alberta] Coal industry warns of mine closures, blasts NDP government’s climate plan – by Colette Derworiz (Calgary Herald – November 23, 2015)

Alberta’s coal industry fired back at the Notley government’s climate change plan, suggesting the province should be working with the companies to find cleaner ways to burn coal for electricity — rather than speeding up the phase out.

The NDP’s climate change strategy unveiled on Sunday will see the province eliminate pollution caused by burning coal and a shift to more renewable energy and natural gas power generation by 2030. Although it’s being touted as a benefit to public health, the plan raises concerns for the coal industry.

“It has been single-handedly targeted to resolve all of the issues of greenhouse gases in Alberta,” said Robin Campbell, president of the Coal Association of Canada, noting 90 per cent of coal in the province is used for power generation. Continue Reading →

Inuit org completes first round of Mary River consultations – by steve Ducharme (Nunatsiaq News – November 23, 2015)

Residents of communities affected by the proposed Phase II expansion of Baffinland Iron Mines Corp.‘s Mary River iron mine project got their first chance to say what they think about the proposal in a series of forums hosted by the Qikiqtani Inuit Association that concluded Nov. 16.

The QIA will use material from this community tour — the first of three — to help form its position at the Nunavut Impact Review Board’s upcoming environmental review of Baffinland’s proposed Phase II expansion.

“There was a really good turnout, right from elders down to youth that came to our open house and public meetings… there’s a lot of interest on the topic,” QIA President P.J. Akeeagok said. Continue Reading →

Ross River Kaska weigh benefits of massive lead-zinc mine – by Nancy Thomson (CBC News North – November 23, 2015)

Ross River Dena are weighing the pros and cons of the proposed Howard’s Pass lead-zinc mine, as they prepare to vote on a “socio-economic participation agreement” later this winter.

After months of negotiations, the Ross River Dena Council and Selwyn Chihong Mining Ltd. reached a preliminary agreement last month. It offers the Kaska, particularly the Ross River Dena, opportunities for training, employment and a share of the mine’s profits.

It also brings a whiff of opportunity to Ross River, one of Yukon’s smaller communities. According to the 2011 census, the average annual income in Ross River is just $31,000. Continue Reading →

Canadian diamond producers best positioned to weather price crunch – by Henry Lazenby ( – November 24, 2015)

TORONTO ( – As the global diamond industry sobers from a hangover of expected market growth that did not happen, Canadian producers are perhaps best positioned to weather the downturn, given the superiority of the country’s diamond projects.

Since the global economic downturn of 2009 and up to the middle of last year, the midstream segment of the diamond industry – the cutters, manufactures and wholesalers, mainly in India – overspeculated on future demand by aggressively expanding businesses, despite market indications not supporting investment, independent diamond analyst and consultant Paul Zimnisky told Mining Weekly Online in an interview.

Banks accommodated these aspirations by providing the capital. Continue Reading →

Support for UN declaration on native rights may spell trouble for Canada’s resource sector – by Tom Flanagan (Globe and Mail – November 23, 2015)

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.

Tom Flanagan is professor emeritus of political science at the University of Calgary and chair of the aboriginal futures research program with the Frontier Centre for Public Policy.

The new Liberal government says it will implement the 2007 United Nations Declaration on the Rights of Indigenous Peoples. It’s no surprise, as the Liberals campaigned on it. Nonetheless, there is great potential for mischief here because the sweeping language of the declaration is inconsistent with well-established principles of Canadian property law.

Article 32 of the declaration would require Canada to obtain from indigenous peoples “free and informed consent prior to the approval of any project affecting their lands or territories” for developing natural resources. Continue Reading →

Why 2015 will go down as a year to forget for North American coal miners – by Peter Koven (National Post – November 21, 2015)

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

Plenty of coal industry insiders have spoken out about the collapse of the business in the United States. But nobody does it with quite the same fervor as Robert Murray.

“We have the worst president the United States has ever had in its history,” said the founder and chief executive of Ohio-based Murray Energy Corp., one of the largest coal producers in the U.S.

“He has stacked the government with hundreds of thousands of bureaucrats who are on a regulatory rampage (against coal) that are carrying out the desires of those who got him elected,” Murray said in an interview. Continue Reading →

Lucara shares surge on discovery of 1,111-carat diamond – by Ian McGugan (Globe and Mail – November 20, 2015)

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.

Lucara Diamond Corp.’s stock soared by as much as 37 per cent after the Vancouver miner said it had unearthed the biggest diamond to be found in more than a century.

The 1,111-carat, gem-quality stone is slightly smaller than a tennis ball. It was dug out of Lucara’s Karowe mine in Botswana.

The diamond, the second-largest in history, is one of several giant finds that the company has recently uncovered. Lucara, part of the mining and energy group headed by Lukas Lundin, also reported it had found an 813-carat stone that ranks as the sixth-largest ever discovered. Continue Reading →

Agnico Eagle is the world’s most-resilient gold miner – by Danielle Bochove (Bloomberg/Globe and Mail – November 20, 2015)

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.

Agnico Eagle Mines Ltd. is emerging as the winner in the race to shield profit from slumping gold prices. Since gold began a more than 40-per-cent plunge from a 2011 peak, the miner’s gross margins have narrowed by just 1.9 per cent thanks to expansions and a strengthening U.S. dollar.

For every dollar of gold Agnico Eagle sold last quarter, 49 cents (U.S.) was gross profit, little changed from four years ago when gold touched $1,900. That’s the best performance among 15 major producers tracked by Bloomberg, whose margins compressed by an average 64 percent. Continue Reading →

Canadian miner Lucara finds 1,111-carat diamond — believed to be second-largest ever – by Peter Koven (National Post – November 19, 2015)

Handout Lucara Diamond Corp.

Handout Lucara Diamond Corp.

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

A Canadian mining company has recovered a diamond for the ages. The astounding stone has no precedent in the past century and will command a massive price at auction. The only question is how high it will go.

Lucara Diamond Corp. said it recovered a gigantic 1,111-carat, gem-quality diamond from its Karowe mine in Botswana this week. To put that in perspective, it is believed to be the second-largest gem-quality stone ever found. The only one known to be bigger is the legendary Cullinan diamond, which was recovered in South Africa in 1905 and weighed 3,106.75 carats. Continue Reading →

The Early Years of Bushflying [Strong Northern Ontario Mining Link]

With the advent of war in 1914, there were few registered pilots in Canada, and even fewer aircraft. Flying was a novelty of the well-to-do, and certainly, the daring.

But over the next five years, young Canadian men would come to comprise almost one-third of the British air services. For many, it was an opportunity to escape the horrors of the trenches – the mud, cold, rats, lice and the ever-ominous threat of a horrible death. It was a chance to take to the pristine blue skies, with the wind in your face and a silk scarf round your neck trailing in the breeze.

But there is little glamour in warfare of any kind. And many paid an exacting price. While the airplanes kept them out of the trenches, it posed its own threats. Continue Reading →

Precious metal streaming companies looking to team up to tackle bigger deals – by Peter Koven (National Post – November 18, 2015)

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

Overwhelmed by the sheer volume of opportunities available in volatile commodity markets, precious-metal “streaming” companies are looking to team up to take on large acquisitions that they might not be able to readily afford on their own.

Randy Smallwood, chief executive of Silver Wheaton Corp., said he thinks the streaming firms will be doing syndicated deals within the next year.

“It is something we’ll have to consider more as our capital capacity has been reduced by some of the acquisitions we’ve made recently,” he said. Continue Reading →

Is mining innovation an oxymoron? – by Nathan Stubina (Northern Miner – November 17, 2015)

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

Newspapers are replete with articles denouncing the dearth of innovation in the mining sector. While we may argue about the causes – the sector’s capital intensive nature, the people who work in mining, etc. — most people will agree that the mining industry appears to be innovating at a much slower pace than other industries.

I believe that most of us are clear on why we need to innovate. The mining industry is facing many difficult challenges: lower grade ores, smaller deposits, increasing power costs, tighter margins, faltering capital markets, political risks, increased social demands, higher taxes, etc.

An example of the type of complex challenges we face: Mining executives frequently ask their engineers what the “carbon footprint” of a new process will look like – a question unheard of 30 years ago.

Nowadays, questions about water and power requirement don’t start with: ‘how much does it cost?’ Continue Reading →

Bacanora raises US$13.4 million for Mexican lithium project (Northern Miner – November 16, 2015)


The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

Just a few months after Bacanora Minerals (TSXV: BCN) and Rare Earth Minerals (LSE: REM) signed a deal with Tesla Motors (NASDAQ: TSLA) to supply the car maker with lithium hydroxide from their Sonora lithium project in Mexico, the companies have raised US$13.4 million in a private placement.

The proceeds will be used for a bankable feasibility study of the project, 180 km northeast of Hermosillo, and towards the upgrading and continuous running of a pilot plant in Hermosillo to produce bulk quantities of lithium products to long-term off-take parties. Continue Reading →

Ministerial mandate letters point to greener Canadian economic priorities – by Henry Lazenby (November 14, 2015)

TORONTO ( – Canadian Prime Minister (PM) Justin Trudeau on Friday took the unprecedented step of publicly releasing all ministerial mandate letters, as part of his plan for open and transparent government for Canadians, giving citizens a first glimpse of the new Liberal administration’s policy priorities.

“Real, positive change means new leadership and transparent government for Canadians. Our Ministers are being encouraged in their mandate letters to consult closely as a team, to listen and to carefully consider the expert advice of public servants. I am confident such measures will lead to better decision-making and results for Canadians,” he stated.

The ministerial mandate letters highlighted the government’s commitment to invest in jobs and growth for the middle class and those working hard to join it. They outlined the government’s progressive vision and provided a framework for what ministers were expected to accomplish, including specific policy objectives and challenges to be addressed. Continue Reading →