Archive | Canada Mining

BMO: Miners may revisit dormant mega-projects – by Matthew Keevil (Northern Miner – Matthew Keevil)

Northern Miner

VANCOUVER — The last five years have seen large-cap miners shelve — and often write-down — ambitious, greenfield development projects that carry significant development price tags and heightened risk.

The majors instead focused on stronger operating margins and lighter balance sheets, which were typically characterized by improved free cash flow generation and lower debt.

The last 18 months have marked a shift in sentiment for metal producers, however, as metal prices have strengthened and risk capital markets entered the nascent stages of recovery. Continue Reading →

No One Wants To Talk About Ontario’s Disappearing Blue-Collar Communities – by Robert Waite (Huffington Post – October 16, 2017)

A lot can happen to a city or town in 35 years. Take Toronto — in 1982 the city still sported nicknames like “Toronto the Good” and “Hog Town.”  Visitors from New York and Montreal had another word for it: “Boring.”

Several decades (and several million more people) later, Toronto has transformed into one of the world’s most vibrant and diverse cities.

But this story isn’t about Toronto. It is about a town in Northern Ontario, Kapuskasing, located a good 10-hour drive (about 800 kilometres) away. It is about the fact that even in an age of global warming, life in Canada north of 45 degrees latitude (49.4, to be exact) can be precarious. Continue Reading →

Robert Friedland-backed cobalt company considering Canadian listing: sources – by Niall McGee and Rachelle Younglai (Globe and Mail – October 14, 2017)

An Australian cobalt company backed by mining financier Robert Friedland is considering a listing on the Toronto Stock Exchange, sources familiar with the matter said, as demand for the battery-making metal soars amid supply shortages.

The company, called Clean TeQ Holdings Ltd., is already public in Australia and has seen its stock hit a record high thanks in part to a spike in cobalt prices this year.

Clean TeQ is talking to investment banks Macquarie Capital Markets Canada Ltd. and BMO Nesbitt Burns Inc. about a number of options, including raising additional funds through a Canadian offering, or a straight listing on the TSX, without raising new money right away, sources said. Continue Reading →

A window into Canadian history through the lens of commodity booms – by Colby Cosh (National Post – October 12, 2017)

To the layman it’s not the most inspiring title: “A Long-run Version of the Bank of Canada Commodity Price Index, 1870 to 2015.” But the name of this Statistics Canada research paper, published Wednesday, will warm the hearts of Canadian economists like a beloved old melody.

In Canada, we are a little used to being beggared by StatCan, which, it must be said, is obviously a treasure. We do not have access to the cornucopia of very long economic time series that Americans enjoy, and our national statistics agency is fussy about occasionally re-engineering the data series it creates, which then have to be knit together by anyone wanting a historical perspective.

Being a relatively small country also makes regional and local breakdowns of aggregate data more difficult. Cells in a table that contain counts of people or things can end up too small to be of much use, and may even have to be suppressed to protect personal anonymity. Continue Reading →

Cape Breton museum commemorates mining strikes (CTV Atlantic – October 14, 2017)

The Cape Breton Miners Museum is commemorating the violent mining strikes that attracted national attention in the 1920s’ by sharing the story years later, in Glace Bay. Back then, miners took to the streets for better collective bargaining rights, forcing federal and provincial governments to develop better labour policies that are in place today.

“The strikes of 1922 to 1925, the coal miners stood together and stood the gaff, that means they did not bend under the hardships the BESCO pushed on them and they stood together,” says executive director, Mary Pat Mombourquette.

She says the 1920’s weren’t an easy time to be a coal miner in Cape Breton as the British Empire Steel Corporation controlled the miners’ wage, fuel, food, clothing and housing. Continue Reading →

B2Gold up on higher-than-expected production – by Cecilia Jamasmie ( – October 12, 2017)

Shares in B2Gold Corp (TSX:BTO; NYSE: BTG) were up on Friday after the mid-tier miner reported better-than expected gold production for the third quarter of the year.

The Canadian company logged an output of 135,628 ounces of gold, which included 6,340 ounces of pre-commercial production from its newly built Fekola mine in Mali.

Consolidated output exceeded the original budget by 2% (or 2,254 ounces) and reforecast production by 15% (or 17,372 ounces), which the company attributed to “very strong” operational performances of both its Masbate mine in the Philippines and the Otjikoto operation in Namibia as well as the successful early start-up of the Fekola mine in September. Continue Reading →

At a regulatory crossroads: It’s time to fix federally induced problems, says the Mining Association of Canada – by Greg Klein (Resource Clips = October 4, 2017)

The fundamentals behind the last supercycle remain in place, insists Pierre Gratton. Yet the Mining Association of Canada president/CEO warns that the country has lost ground as a global industry leader.

While the current upswing continues, the transition to a cleaner, lower-carbon future will call for even more mineable commodities. Whether Canada participates to its fullest potential, however, depends largely on policies directed by Ottawa.

Addressing a 230-strong Greater Vancouver Board of Trade audience on September 27, Gratton noted that by 2015 Canada lost its first-place spot for exploration investment. The usurper was Australia, which proved itself “much more strategic and successful over the past decade.” Continue Reading →

Future of mining in Canada on CLEER path if ‘supercluster’ approved – by Angela Gemmill (CBC News Sudbury – October 12, 2017)

Project from CEMI, CMIC one of 9 vying for millions from Innovation, Science and Economic Development

A proposal with roots in Sudbury could see hundreds of millions of dollars in federal money to help improve the mining industry. Earlier this year, the Centre for Excellence in Mining Innovation (CEMI) in Sudbury and the Canada Mining Innovation Council (CMIC) formed a partnership.

They teamed up to submit a clean resources proposal to the Federal Innovation Supercluster Initiative. A ‘supercluster’ is a consortium of stakeholders, including companies, post secondary institutions and not-for-profit organizations.

The federal government has $950-million to distribute towards the creation of five superclusters. Minister of innovation, sciences and economic development, Navdeep Bains will announced the five successful applicants next March. Continue Reading →

Ontario pledges $1M to help ailing miners exposed to toxic dust – by Sara Mojtehedzadeh (Toronto Star – October 11, 2017)

The Ontario government will commit $1 million in funding to assist Ontario miners who believe years of exposure to toxic aluminum dust left them with debilitating neurological diseases, the Star has learned

The Ministry of Labour is expected to announce Wednesday that it will finance the Occupational Health Clinics for Ontario Workers (OHCOW) to assess miners exposed to the substance known as McIntyre Powder establish whether their health conditions are linked to its use, and make compensation claims for work-related illnesses where possible.

But miners who already made claims under previous guidelines will not be eligible to have their cases reopened. As previously reported by the Star, thousands of miners across northern Ontario’s gold and uranium mines were routinely forced to inhale the powder, which was sold as a miracle antidote to lung disease. Continue Reading →

NEWS RELEASE: B2Gold Announces First Gold Pour at the Fekola Gold Mine, South West Mali

Vancouver, British Columbia–(Newsfile Corp. – October 11, 2017) – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Company”), is pleased to announce that the first gold pour at the Fekola Gold Mine (“Fekola”) occurred on October 7, 2017, approximately three months ahead of schedule. Commissioning of the mill is ongoing and commercial production is expected by the end of 2017.

In the fourth quarter of 2017 the Company is projecting gold production from Fekola of between 50,000 and 55,000 ounces. 2018 is scheduled to be the first full year of gold production, yielding 400,000 to 410,000 ounces for the year. Based on current assumptions this represents an increase in annual gold production of over 70% for B2Gold in 2018.

B2Gold previously announced on September 25, 2017 that construction of the mill at Fekola was completed and the Company had commenced running ore through the system three months ahead of the original schedule and on budget. Additionally, the Company announced a new Life of Mine (“LoM”) plan showing increased production and lower operating and all in sustaining costs (“AISC”) compared with the original (4 Million tonnes per Annum (“MTPA”)) Optimized Feasibility Study for Fekola’s 5 MTPA mill (see press release dated 09/25/2017). Continue Reading →

Cautious investors still favouring gold royalty companies over miners – by Jan Harvey (Reuters/Daily Mail – October 11, 2017)

LONDON, Oct 11 (Reuters) – Investors in precious metals are opting for streaming and royalty companies over pure gold and silver miners this year despite a rise in metal prices, as producers struggle to win confidence in their ability to capitalise on the rally.

Streaming and royalty companies provide financing for exploration and development to precious metals producers in return for a cut of any future output. That gives them exposure to a range of companies in the gold sector, rather than being reliant on any individual stock.

The model makes them a nominally safer bet for investors, but gives them lower leverage to a strong rise in underlying gold prices. Among the biggest streaming companies, shares in Toronto-based Franco-Nevada are up 24 percent and Royal Gold Inc is 40 percent higher this year, while among smaller names, Osisko Gold Royalties has risen 25 percent. Continue Reading →

In Bre-X Country, Junior Miners Can Crash or Post 1,000% Gains – by Kristine Owram and Natalie Obiko Pearson (Bloomberg News – October 11, 2017)

It had the trappings of a Hollywood hit: greed, gold, love, treachery. No wonder the titanic hoax that was Bre-X Minerals Ltd. of Canada got a little star treatment this year, with the inspired-by-actual-events movie “Gold,” starring Matthew McConaughey (reviews were mixed).

Bre-X, which collapsed 20 years ago, may be the craziest story that ever came out of the wild west of the junior mining world — but it’s hardly the only one.

Unproven penny-stock companies, in Canada or anywhere else, are never for the faint of heart. But add to that the strike-it-rich ethos of energy and mining, major drivers of the Canadian economy, and the results can be explosive. Continue Reading →

Resource firms face tougher rules if provincial action on threatened caribou deemed lacking – by Shawn McCarthy (Globe and Mail – October 10, 2017)

The federal government is warning it will impose tougher rules for resource companies working in the boreal forest unless provinces act to protect endangered caribou.

Companies involved in oil and gas, mining and forestry are facing a call from scientists and environmental groups that many threatened boreal caribou herds face extinction unless urgent action is taken to protect and restore habitat.

Industry officials, for their part, warn that regulatory uncertainty and the potential for restrictive regulations is jeopardizing investment and threatening the significant job losses in Northern and rural communities. Continue Reading →

Energy East’s demise is Canada’s Peak Oil Divide moment – by Diane Francis (Financial Post – October 10, 2017)

“The fact is that Canada’s only current world-class innovation and investment
clusters are oil and mining, both of which are under attack by politicians
at all levels. These sectors provide the highest salaries in the country
because they are world-class and their workers are high-tech trained in
science, engineering, technology, and IT.”

Canadian leaders cannot despise oil and pipelines and maintain high living standards. Without the goose, there will be no golden eggs. It’s that simple.

This week’s cancellation of another oil pipeline – from Alberta to New Brunswick – should not be a cause for celebration as it is in some minds. It represents Canada’s Peak Oil Divide moment as well as a tipping point in terms of the country’s future prosperity. Without new markets, Canada’s engine of economic growth will slow and never regain momentum.

It’s a known fact that the world lumbers toward a fossil-free future, due to exponential technologies such as solar. But to rush toward that as a nation – without anything to replace it – is foolish. Only countries without fossil fuels are well-advised to do this. Not Canada. Continue Reading →

Canada needs a frank discussion about resources – by Ken Hughes (Globe and Mail – October 6, 2017)

Ken Hughes is a former Alberta minister of energy, the founding chair of Alberta Health Services, and was recognized as an Honourary Chief within the Blackfoot Confederacy

As Canadians, let’s be honest with each other. After TransCanada announced Thursday that the Energy East Pipeline is dead, we need – now more than ever – to honestly address this fundamental question: How does Canada work? We can’t build a country without building something. We will not maintain our standard of living if we continue to lose our edge.

First, the wealth of a country is created by the sweat, toil and creativity of Canadians. They turn assets into something of value that can be sold to create wealth. Sometimes these are assets such as oil, natural gas or lumber. Sometimes these are virtual assets, such as insurance, banking or software. Success leads to taxes paid to local, provincial and federal governments.

Taxes are used by governments to pay for our much valued, quality public services: health care, education, roads, etc. Taxes only get paid when there is successful enterprise first. Taxes are paid by employed Canadians and by successful companies. Period. Continue Reading →