Archive | Ontario Mining

Mine idea explored – by Carl Clutchey (Thunder Bay Chronicle-Journal – February 12, 2016)

http://www.chroniclejournal.com/

A large iron-ore deposit near Sioux Lookout that’s been known for decades is about to undergo a significant fine-tuning, possibly leading to an operating mine as early as four years from now.

Thunder Bay-based Rockex Mining Corp. said Thursday it’s on the cusp of securing $30 million from a New York investment firm to conduct a feasibility study and environment assessment on the property located about 100 kilometres northeast of Sioux Lookout.

The financing from Diversified Innovative Marketing Enterprises (DIME) is expected to be firmed up by April 11, said a Rockex news release.

If the Lake St. Joseph deposit is deemed to be economically viable, it could support an operation for 30 years, creating a combined total of 700 mine-site and processing plant jobs. Continue Reading →

Harte Gold – Sweet Smell of the Sugar Zone – by Christopher Ecclestone (InvestorIntel.com – February 11, 2016)

http://investorintel.com/

The trend towards small-scale mining (or as we are tending to call it “right-sized” mining) seems to be gaining traction. Bankers don’t like it because it means smaller financings and less fees and consultants absolutely hate it because it means less mindless-drilling, wheel-spinning and production of useless tomes of BFS and DFS drivel.

The group that does like it includes retail investors and us, while institutional investors find that, quite literally, they cannot get enough of these companies. We have highlighted Anaconda in the past for this strategy (to which it has added another property this week) and had favoured Minnova for proposing something similar (though it has seemingly lost track from production and gone into some continuous financing mode).

In the latter case it really takes some doing to make your previous five announcements, over four months, solely about financings.Then there is Harte Gold Corp. (TSX:HRT), which seems destined to shortly join the ranks of producers with its mine in Ontario. We shall do an overview here on the progress thus far. Continue Reading →

[DeBeers diamond mining and Attawapiskat] Negotiation Is Better Than Conflict – by Xavier Kataquapit (NetNewsLedger.com – February 10, 2016)

http://www.netnewsledger.com/

Xavier Kataquapit is a First Nations writer and columnist, who is originally from Attawapiskat Ontario on the James Bay coast.

THUNDER BAY – My people have come a long way in obtaining a life with more opportunity and hope. Through education First Nation people all over Canada are moving into leadership roles in government and private enterprise in Native initiatives and non Native as well. We have very intelligent, well educated, strong and capable leaders in politics, law, education, business and every sector of Canadian society.

I have seen much progress in First Nations first hand with the communities that make up Wabun Tribal Council up here in Northeastern Ontario. Over the past 20 years I have watched these First Nations led by their Chiefs and supported by an administration headed by Shawn Batise as they began to lobby government and the private sector resource industries. Over the years Wabun has become internationally known for negotiating all kinds of agreements with government and the private sector that provide benefits to Wabun First Nations.

Wabun is well recognized across Canada for its expertise in this area and Shawn and the Chiefs have shared their knowledge with other Native organizations. For so many years Native people were very much left out of the loop when it came to participating in any development on traditional lands. Continue Reading →

Tahoe Resources-Lake Shore Gold’s $945M deal brings potential benefits for both sides – by Peter Kovin (National Post – February 9, 2016)

http://business.financialpost.com/

TORONTO – Tahoe Resources Inc.’s friendly $945 million deal to buy Lake Shore Gold Corp. is being viewed as a logical transaction that addresses challenges faced by both companies.

Tahoe gets to diversify into Canada, increase its growth profile and reduce exposure to Guatemala, a very challenging jurisdiction. Lake Shore, meanwhile, can develop its projects quickly without worrying about diluting shareholders or taking on more debt.

“We believe this transaction brings strong mutual benefits to our respective shareholders and establishes the premier low-cost precious metals producer in the Americas,” Tahoe chief executive Kevin McArthur claimed on a conference call. Continue Reading →

De Beers halts exploration of diamond mine near Attawapiskat, Ont. (CBC News Sudbury – February 08, 2016)

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

Bulk sampling of mine extension may be pushed back as First Nation voices concerns

The De Beers diamond company has ceased exploration of the Tango extension near the Victor mine due to local pushback. The Victor mine is located in the James Bay lowlands of northern Ontario, and is the province’s only diamond mine.

DeBeers is hoping to extend mining operations into a nearby deposit called Tango, but first needs to determine it’s feasibility. The company said the exploration is required as the Victor mine enters its final years.

Tom Ormsby, a spokesman for De Beers Canada, said the company has halted its plan to take a bulk sample of the new mining grounds. Continue Reading →

New open pit mine in Timmins expected as Lake Shore Gold is merged with Tahoe Resources – by Alan S. Hale (Timmins Daily Press – February 8, 2016)

http://www.timminspress.com/

Lake Shore Gold will soon become part of Tahoe Resources. The mining companies announced on Monday that Tahoe intends to buy a 75% stake in Lake Shore by exchanging shares in that company for Tahoe shares.

This announcement comes after trading on Lake Shore Gold’s shares were halted on Friday. It appeared at the time that it was to halt market speculation after positive news from an ongoing exploration project, but it now seems it was in anticipation of announcing the merger.

Under the agreement announced on Monday, each common share of Lake Shore Gold will be exchanged for a 0.1467 share in Tahoe which, when the markets closed on Friday, was worth $1.71. This would mean Lake Shore Gold shareholders would make a 15 cent profit on every share they own. Continue Reading →

Trading halted on Lake Shore Gold shares – by Len Gillis (Timmins Daily Press – February 5, 2016)

http://www.timminspress.com/

TIMMINS – There was so much excitement and market speculation about a Lake Shore Gold Timmins property that trading in company shares was halted on Friday and the company was asked by regulators to issue a public statement.

This follows the positive news that was released by the company on Thursday revealing the results of 13 drill holes for a high grade gold zone at the “Whitney Project” which describes the area located near the old Hallnor Mine property in Timmins.

The results are from the first surface exploration drilling done on the Whitney property since LSG became the new owners last fall. The Whitney property was a prospect that was owned and explored by Temex Resources Corp. Just last September, Temex shareholders approved a takeover deal by Lake Shore for all outstanding common shares. Continue Reading →

Miner Tahoe Resources adds Ontario gold mines with Lake Shore buy (Reuters U.S. – February 8, 2016)

http://www.reuters.com/

Miner Tahoe Resources Inc (TAHO.N) (THO.TO) said it would buy Canada’s Lake Shore Gold Corp (LSG.TO) for about C$751 million ($540 million) to add low-cost gold mines in Ontario to its portfolio.

Precious metals miners have been clamping down on costs amid a sharp decline in the price of bullion that has weighed on exploration spending, capital to sustain operations and dividends.

Spot gold prices XAU= have fallen nearly 40 percent from its peak of $1,920.30 an ounce in September 2011. The deal comes after Goldcorp Inc (G.TO) sold its 25.6 percent stake in Tahoe for C$998.5 million last June. Continue Reading →

Canada mining firm strikes gold as oil price falls – by Martin Flanagan (The Scotsman – February 6, 2016)

http://www.scotsman.com/

THE slump in oil prices has boosted a Canadian gold mining company whose fortunes have been transformed since a Scottish industry veteran took over as chief executive two and a half years ago.

Motherwell-born George Ogilvie, president and chief executive of Kirkland Lake Gold, which last week poured its one millionth ounce of gold from its Macassa mine complex in Ontario since operations started in 2003, said: “The collapse of the oil price has definitely helped us. The industry is seen as a safe haven, a last resort. Other things have also helped gold’s popularity for investors, such as the collapse of Asian stock markets, which have seen a dep¬reciation of about 50 per cent since last year and created jitters.”

Ogilvie said weak oil prices, which led to energy major Shell revealing last week that its profits fell 80 per cent in 2015, has boosted the company by putting pressure on the Canadian dollar, as the country is a big energy producer. Continue Reading →

8 companies that won’t have to meet Ontario’s new pollution limits – by Mike Crawley (CBC News Toronto – February 4, 2016)

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

Strict new emission rules coming in July, and more companies seeking exemptions

The provincial government will be bringing in strict new pollution standards this summer, but some of Ontario’s biggest polluters won’t be required to meet them.

CBC News has obtained the list of all companies that currently have multi-year exemptions from limits on such pollutants as sulphur dioxide and airborne particles.

The information shows the eight companies — including Ontario’s biggest mining company, its biggest smelter and the large steel plants — will be allowed to emit far more pollution than otherwise permitted by the province’s tough new air-quality standards, due to take effect July 1. Continue Reading →

NEWS RELEASE: Kirkland Lake Gold Pours Its One Millionth Ounce From The Macassa Mine Complex

http://www.klgold.com/Home/default.aspx

KIRKLAND LAKE, ONTARIO–(Marketwired – Feb. 3, 2016) – Kirkland Lake Gold Inc. (“Kirkland Lake”, or the “Company”) (TSX:KGI), this week poured it’s one millionth ounce from the Macassa Mine Complex since operations commenced in 2003. This marks a historic milestone for the Company, adding to the historical production of this camp, which has now produced over 26 million ounces of gold.

The Company commenced operations at the Macassa Mine Complex in 2002, and with the discovery of the South Mine Complex, has been able to increase its level of production significantly over the past five years with the Company producing and selling over 570,000 ounces of gold. The Macassa Mine Complex currently has 1.5 million ounces in proven and probable reserves (2.4 million tonnes at an average grade of 19.2 g/t Au), and an additional 2.0 million ounces in measured and indicated resources (3.8 million tonnes at an average grade of 16.8 g/t Au). Continue Reading →

Magnesium mine promising jobs, diversity in Timmins – by Lindsay Kelly (Northern Ontario Business – February 1, 2016)

http://www.northernontariobusiness.com/

A new mining project coming to Timmins has the capacity to create 1,000 local jobs and economically diversify the City With a Heart of Gold.

General Magnesium Corp. is set to start production this spring on a magnesium-talc mine that has an NI 43-101 resource estimate of close to 100 million tonnes, including 54,076,357 tonnes in the measured and indicated category, and 43,000,000 tonnes in the inferred category.

Last fall, following 16 months of due diligence, the company secured a multi-year, $4.9-billion deal with Hunter Douglas Metals, whose parent company manufactures aluminum blinds. Magnesium is a key component used as an alloy in manufacturing aluminum. Continue Reading →

Exploration at standstill: prospectors – by Rick Owen (Kirkland Lake Northern News – December 14, 2015)

http://www.northernnews.ca/

KIRKLAND LAKE – A Northern Prospectors’ Association member is involved in a process that includes the Wabun Council and the provincial government, in an attempt to coming to some sort of resolution that will allow prospectors back to work in the bush.

John Rapski has mineral claims that fall within Wabum Council’s traditional land, and he has been consulting for an extended period of time, to try and get access to explore his mineral claims. Currently, he is still being held on the sidelines instead of prospecting and exploring for new mineral finds.

Rapski said the problem is the Wabum Council wants prospectors to sign the same agreement that would apply to mining corporations and this doesn’t work for prospectors. He said if a prospector sighns the agreement they are personally libel and the agreement doesn’t look after the individual prospector. Continue Reading →

Glencore gets Sudbury extension – by Carol Mulligan (Sudbury Star – January 28, 2016)

http://www.thesudburystar.com/

Sudbury’s second largest mining company, Glencore’s Sudbury Integrated Nickel Operations, has received approval to exceed emission standards while it upgrades its Falconbridge smelter.

Glencore officials are pleased with the Ministry of Environment and Climate Change’s recent decision to grant approval of its site-specific standard application for nickel at the smelter, said company spokeswoman Yonaniko Grenon.

“This approval allows us the required time to research, design and implement the technologies and processes required to further reduce nickel emissions from our Sudbury smelter facility while maintaining compliance with Ontario’s Air Quality Regulation,” she said. Continue Reading →

The province is getting in the way of new mines: Study – by Jonathan Migneault (Sudbury Northern Life – January 27, 2016)

http://www.northernlife.ca/

Familiar regulatory barriers hampering nine mining projects in northwest

Exorbitant hydro rates, a myopic First Nations consultation process and an onerous environmental review system — a familiar trio of regulatory barriers — are hampering the development of new mines in northwestern Ontario, a new report says.

Regulatory barriers have halted the development of nine mines in northwestern Ontario since 2010, say the authors of a new report from the Northern Policy Institute.

Those nine proposed mining projects, which include Noront Resources’ Eagle’s Nest and Black Thor projects in the Ring of Fire, and Treasury Metals’ Goliath Gold project, had the potential to create 23,000 jobs and generate an estimated $135.4 billion in wealth, says the mining industry report. Continue Reading →