Archive | Ontario Mining

Timmins launches assessment appeals against local mines – by Len Gillis (Timmins Daily Press – March 30, 2017)

http://www.timminspress.com/

Timmins has taken steps to appeal the assessed values of all the major local mining properties to the Ontario Assessment Review Board (ARB), on the grounds that mining property assessments are just too low. This is being done on a “just-in-case” basis since the city is already in negotiations with the three big mining companies in town to reach some sort of a deal outside of the MPAC (Municipal Property Assessment Corporation) assessment values and procedures.

Part of the reason is that in recent years MPAC has laid out new valuations for mining properties. In many cases means that MPAC is applying lower values to those properties. That means less tax money going into the city hall treasury.

MPAC has mentioned the term Economic Obsolescence (EO) in one of its studies relating to the gold mining industry to justify the need to provide lower valuations. “EO can be described as a form of depreciation or an incurable loss in value that occurs when influences external to an asset itself reduce the value of the asset,” said the study.

Continue Reading →

2017 PDAC Skookum Jim Award: Peter Moses

PDAC 2017 Skookum Jim Award: Peter Moses from PDAC on Vimeo.

(L to R) Peter Moses and James Siddorn

Recipients of this award have demonstrated exceptional achievement and/or service in a Canadian Aboriginal-run service business for the Canadian mining industry or a Canadian Aboriginal exploration or mining company, or have made a significant individual contribution to the mining industry.

Peter Moses: For his significant contribution to Canada’s mineral exploration and mining industry through his work with companies, government, and Aboriginal communities over a career of more than 50 years.

Peter Moses is an active member of Canada’s mineral exploration and mining community. His work as a prospector started early in life when he worked on the family’s trapline. Learning from his father and grandfather, Peter’s interest in geology grew and would eventually become the basis of a prolific career spanning more than four decades.

The industry is in Peter’s blood. He is a fourth generation family member connected to exploration and mining, dating back to his great-grandfather in 1860. In 1964, Peter became one of the first members of his community to succeed in completing a post-secondary education. He began prospecting on his own and also partnering with local team members in the Pic River and Marathon region. Often, he led a prospecting team on extremely rugged terrain, including the North Shore of Lake Superior. Continue Reading →

Investors won’t swallow Detour delay – Staff (Mining Journal – March 28, 2017)

http://www.mining-journal.com/

Detour Gold’s (CN:DGC) revised mine plan for its namesake operation in Ontario released last week is unlikely to inspire near-term investment, placing the company in limbo until it is able to execute on expansion plans – previously pegged for early next year – in more than three years’ time.

Detour in late January said it had moved development of the West Detour zone of the Detour Lake mine back from early 2018 to 2021 in a new “base case” scenario forced by a local aboriginal group, which wants a federal environmental assessment of West Detour by the Canadian Environmental Assessment Agency. That is typically a two-to-three-year process, whereas the provincial review generally takes a year.

This prompted a rethink on the mine plan, which will mean some uglier numbers than previously anticipated. Though the annual mining rate will increase to 125 million tonnes by adding more mining equipment and the mine life has been extended slightly, life-of-mine costs “site costs” are up 8% to US$758 per ounce. Continue Reading →

The rush for cobalt in Cobalt, Ont: Mining companies snap up land in the north – by Marina von Stackelberg (CBC News Sudbury – March 25, 2017)

http://www.cbc.ca/news/canada/sudbury/

There’s an old school gold rush underway in northern Ontario, but the demand is for a special metal that is used in everything from smart phones to electric cars.

More than a dozen mining companies are staking out claims in Cobalt, Ont. as price of the mineral with the same name rises, according to the Northern Prospectors Association.

“The whole situation is a cobalt-style rush, just like an old fashioned staking rush,” said Gino Chitaroni, president of the Northern Prospectors Association and a geologist from the area. The town of Cobalt is located along the Quebec border, near Temiskaming Shores in northern Ontario, and is best known for the massive amounts of silver that were extracted a century ago. Continue Reading →

Attawapiskat could have more prosperity, but not by getting local diamond mines to shut down – by Joseph Quesnel (Financial Post – March 22, 2017)

http://business.financialpost.com/

Attawapiskat First Nation — an isolated Northern Ontario reserve — played a prominent role in the Idle No More indigenous protest movement that erupted in 2012. Then Attawapiskat Chief Theresa Spence complained to the media about unacceptable housing conditions on her reserve. The movement was energized by Chief Spence’s decision to declare a hunger strike to raise awareness of the ongoing First Nation housing and infrastructure crises.

Attawapiskat’s band council was subjected to a government-commissioned audit in 2012 that found little proper documentation for millions of dollars spent by the band government.

Attawapiskat has largely fallen out of the news. But, a few weeks ago, diamond producer De Beers announced it was shelving plans for an expansion of a diamond mine located nearby. The company had planned to draw five or six more years of production from the mine. However, without Attawapiskat support, the company will not proceed. Continue Reading →

Ontario First Nation plunges into mine training – by Ian Ross (Northern Ontario Business – March 20, 2017)

https://www.northernontariobusiness.com/

Wahgoshig, Primero Mining finds common ground in hard rock mining

A Northern College mining training program is providing a path to employment for a northeastern Ontario First Nation community.

A Feb. 24 ceremony held at the college’s Timmins campus for five Wahgoshig First Nation residents who graduated from the underground hard rock miner common core program marked the fourth and final class from a successful three-way partnership between the college, Wahgoshig, and Primero Mining Corp., operators of the Black Fox Gold Mine near Matheson.

Buoyed by funding from the province’s Aboriginal Economic Development Fund, that brings the total complement of Wahgoshig graduates to 24, with 72 per cent from that group still working in the mining industry. Continue Reading →

Hemlo Gold Mines Inc. History (1987 – 1995) – by International Directory of Company Histories

For a large selection of corporate histories click: International Directory of Company Histories

Company History:

Hemlo Gold Mines is one of the most important and lowest cost gold producers in North America. The company owns and operates two mines with high gold reserves: the Golden Giant Mine located near Marathon, Ontario, and the Silidor Mine close to Rouyn-Noranda, Quebec. From these mines alone, Hemlo produced 492,100 ounces of gold in 1992. The company also has promising development properties in northeastern Ontario and in Montana, and is actively exploring additional mining sites in Australia and South America.

Like the proverbial pot of gold at the end of the rainbow, the Hemlo area in northwestern Ontario has been regarded for centuries as a land of riches. As early as 1535, French explorer Jacques Cartier was told by native North Americans of a gleaming, lustrous metal found in the North.

During their trip in 1665, coureurs de bois Radisson and Groseilliers reportedly traded for gold with the local tribes, and in 1869 a native prospector and guide, Moses PeKong-Gay, found gold nuggets in the Hemlo region. Continue Reading →

Optimism on minerals seen seeping down to grassroots explorers – by Henry Lazenby (MiningWeekly – March 15, 2017)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this.

“If you look at the optimism at the conference, everyone is upbeat and excited about the months ahead. When you look at the service industry, we are just full of business right now and receiving a lot more calls right now,” Transition president and CEO Scott McLean told Mining Weekly Online in a recent interview.

“We are seeing a lot more interest in our stock and a lot more inquiries on our projects to option them. There is a fundamental difference and I feel the interest in the industry is now starting to descend down into the exploration plays as well, where we are well positioned,” he noted. Continue Reading →

Eastern Canada attracting the most mining exploration dollars: S&P report – by Nelson Bennett (Business Vancouver – March 14, 2017)

https://www.biv.com/

British Columbia can still brag about how beautiful it is, but in terms of drawing investment in mineral exploration, it may no longer be as attractive as it once was. Recent reports offer the mining and exploration sectors some optimism that a four-year-long bear market has ended, although projections are that exploration spending in 2017 will be flat.

Canada has been leading the way in exploration spending, accounting for 14% of the global budget, according to S&P Global’s recent Worldwide Mining Exploration Trends report. But much of that new spending appears to be going to Ontario, Quebec and mining’s new darling – Saskatchewan. B.C. appears to have fallen out of favour with those holding the exploration purse strings.

Of the investment in exploration in Canada during 2016, 41% was in Ontario and Quebec, with gold exploration accounting for 50%. That is telling, because B.C., not Ontario, is the province with the largest significant gold deposits, according to an SNL Metals & Mining report last year. Continue Reading →

Searching for a hidden gem: OGS cataloguing mining data in the Sault district – b Lindsay Kelly (Northern Ontario Business – March 13, 2017)

https://www.northernontariobusiness.com/

At the Ontario Geological Survey’s Resident Geologist Office in Sault Ste. Marie, staff is undertaking a project to catalogue and digitize mining data that’s been unavailable to the online public — until now.

District geologist Anthony Pace said a mining company will often donate data to the Ministry of Natural Development and Mines (MNDM), such as original mine or surface plans, after a mine shuts down, or an exploration project comes to a close.

It’s information that could be valuable for future prospecting or exploration on the site, but it’s only available in limited format. “If we lose that data, the actual original data, it’s gone,” Pace said. “We don’t even have a form of backup for it.” Continue Reading →

Ontario’s Hemlo gold mine could live longer – by Carl Clutchey (Thunder Bay Chronicle-Journal – March 12, 2017)

http://www.chroniclejournal.com/

Barrick Gold’s flagship Hemlo operation near Marathon could operate for nearly another 10 years if ongoing exploration and analysis at the site bears fruit, the company says. “If the study results are positive, the life of the mine could be extended to 2026, pending a positive investment decision,” Barrick spokesman Andy Lloyd said in an email on Friday.

News of the studies confirm what many locals have believed for the past year or so – that Hemlo still has a lot of life left if the price of gold remains above US $1,000 per ounce.

Hemlo, which consists of open-pit and underground operations at the 30-year-old Williams mine, is slated to run at least until 2021. Though the news sounds good, Lloyd said Barrick can’t yet say for sure that Hemlo will operate until 2026. “It’s important to stress that we are in the study phase, and we need to await the outcome of that work before we can make decisions on future development,” he said. Continue Reading →

Forging mining ties with Mexico – by Staff (Sudbury Star – March 13, 2017)

http://www.thesudburystar.com/

The Greater Sudbury area now has a mining connection with a Mexican state.

During Mexico Mining Day last week at the Prospectors and Developers Association of Canada convention in Toronto, Nickel Belt Liberal MP Marc Serre signed a letter of intent for the Greater Sudbury Development Corporation, the Sudbury Area Mining Supply and Services Association and the State of Guerrero.

The three parties agreed to work together for mutual economic benefit. “Collaboration and creating partnerships are important to the growth of our economy, communities and countries,” Serre said in a news release. “Each year, the industry employs nearly 20,000 residents of Northern Ontario.

It’s important to note the amount of time, dedication and succession planning it takes to bring this forward. It has been a pleasure representing our region at PDAC and I believe Greater Sudbury is the best represented city at the convention.” Continue Reading →

Tahoe Resources reports strong gold production – by Len Gillis (Timmins Daily Press – March 11, 2017)

http://www.timminspress.com/

Tahoe Resources Inc., which has significant gold properties in Timmins, said Friday it has enjoyed one of its strongest gold production performances, thanks in part to the newly acquired gold operations in Timmins.

Tahoe is the gold and silver mining company that took over Lake Shore Gold operations in Timmins nearly one year ago, at the end of March 2016. Although earnings were down for Q4, the company reported strong earnings and dividends for the past year.

In the latest financial statement released this week, it was revealed that probable mineral reserves at the Bell Creek and the Timmins West mines have both been cut back to new, lower numbers. Continue Reading →

Letter outlines reasons for Stobie’s closure – by Harold Carmichael (Sudbury Star – March 11, 2017)

http://www.thesudburystar.com/

This is a copy of the letter sent by Vale’s Stuart Harshaw to Stobie Mine employees, which The Sudbury Star has obtained, about the mine’s closure.

“Hello everyone: I am writing to inform you that after more than 120 years and more ore produced than any other mine in the history of Sudbury, operations at Stobie Mine will be suspended later this year with the mine placed on care and maintenance.

As you know, our Base Metals business has been challenged for many years now due to the prolonged downturn in metals prices and ongoing challenges in the market. This has driven us to look closely at every aspect of our business globally to try to remain cash flow positive. Continue Reading →

End of the line for Sudbury’s Stobie Mine – by Harold Carmichael (Sudbury Star – March 11, 2017)

http://www.thesudburystar.com/

Harshaw also said Vale still believe in its Sudbury operations.”Vale is
committed to our future in Sudbury,” he said. “Over the past decade, we
have invested $4.7 billion to modernize and upgrade our operations.

Vale plans to shut down its long-running Stobie Mine by the end of the year, affecting some 230 employees. “This is a necessary decision but a sad one,” Stuart Harshaw, Vice-President of Ontario Operations, Vale Canada Limited said on Friday. “Stobie has a rich history and has been integral to our success for more than a century.

“However, after more than 100 years of operation, the mine is approaching the end of its natural life. The low grades at Stobie are no longer economical to mine in today’s challenging price environment.”

Harshaw also said Vale still believe in its Sudbury operations. Continue Reading →