Archive | Timmins

Gold is the new economic driver for Ontario mining – by Len Gillis (Timmins Daily Press – April 12, 2017)

http://www.timminspress.com/

Ontario’s mining industry is making all the right moves to be more sustainable, more efficient and more profitable. But more can still be done, according to Chris Hodgson, president of the Ontario Mining Association.

Hodgson was guest speaker Wednesday at a Timmins Chamber of Commerce luncheon where he talked about the efforts the mining industry is taking to stay current with energy needs, environmental demands and workplace safety.

He said mining continues to be one the engines that still drives the Ontario economy and contributes to Ontario’s economic growth. “What has changed in Ontario in the last 10 years is that gold is now a larger contributor than nickel and copper. That’s new and it is a combination of the price of the commodities and the number of new discoveries of gold and the new investments around gold,” said Hodgson. Continue Reading →

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 →

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

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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 →

Timmins Primero Black Fox Mine GM talks upcoming projects – by Alan S. Hale (Timmins Daily Press – February 9, 2017)

http://www.timminspress.com/

Primero Mining Corporation is hard at work exploring its options when it comes to finding new gold deposits that will expand the life of their Black Fox Mine located outside of Timmins.

This year, the company will be pumping millions of dollars into surface and underground exploratory drilling, and has begun the permitting and First Nations consultation process on a new open pit mine called the “Froome Zone” which could double amount of ore the company extracts every day.

At the same time, another promising new project dubbed “the Grey Fox Mine” has been shelved for the foreseeable future. “There is a lot of potential to find a lot more gold in that area,” said Dan Gagnon, general manager of the Black Fox Mine. “We are a producer of 60,000 to 70,000 ounces (of gold) per year for the next couple year, and we have projects to bring us up to 100,000 ounces.” Continue Reading →

[Gowest Gold] Work progressing on Timmins ‘next new mine’ – by Len Gillis (Timmins Daily Press – February 4, 2017)

http://www.timminspress.com/

TIMMINS – Work is progressing on the Gowest Gold property north of Timmins thanks in part to an influx of new cash from Pandion Mine Finance LP, a New York based investment firm.

Gowest Gold revealed in a news release this week that Pandion has delivered U.S. $5.6-million as part of a $17.6-million prepaid gold purchase deal with PGB Timmins Holdings, an investment vehicle owned by Pandion.

“In a nutshell, we received funding from a group out of New York to begin the advanced exploration on the Bradshaw Deposit,” Gowest president and CEO Greg Romain told The Daily Press on Friday. Continue Reading →

Automated vent system saving millions for Kidd Mine – by Sarah Moore (Timmins Daily Press – January 21, 2017)

http://www.timminspress.com/

TIMMINS – Glencore’s Kidd Operations was recognized by the province for its energy conservation efforts on Friday morning at a presentation at the Timmins Museum.

Representatives from the mine joined Timmins Mayor Steve Black, Terry Young, vice-president of conservation and corporate relations with the Independent Electricity System Operator (IESO) and Ontario Energy Minister Glenn Thibeault that morning to showcase Kidd’s new ventilation-on-demand system as an example of how utilizing government funding programs will reduce energy consumption and cut energy costs.

Kidd tapped into the government’s Industrial Accelerator Program in order to offset $5.6 million of the total $9 million required to transition to the fully automated underground ventilation system it now has today. Continue Reading →

Tahoe goes deep in Timmins – by Staff (Northern Ontario Business – January 6, 2017)

https://www.northernontariobusiness.com/

Tahoe Resources is rolling up its sleeves this year to expand and deepen the Bell Creek Mine in Timmins. The Vancouver miner announced its 2017 financial and operating guidance on Jan. 5.

Project capital expenditures this year will be between $150 million to $175 million, the two largest projects being the shaft deepening at Bell Creek, along with the construction of a crushing and agglomeration plant in Peru.

Tahoe acquired the former Lake Shore Gold in a $945-million deal last year, adding the Timmins West and Bell Creek gold mines in Timmins to Tahoe’s stable of operations in Guatemala and Peru. Continue Reading →

[Gold mining tradition] F.W. Schumacher’s Christmas generosity crossing generations – by Sarah Moore (Timmins Daily Press – December 21, 2016)

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TIMMINS – A holiday tradition more than a century old continued on Tuesday as elementary school children received Christmas gifts courtesy of the late Frederick W. Schumacher.

Nearly 200 students with Schumacher addresses were greeted by members of the Schumacher Volunteer Fire Department inside the McIntyre Ballroom that evening, eager to tear into a beautifully wrapped present that was just for them.

Schumacher, a business man and well-known philanthropist, was a Danish native who eventually settled in the United States. He was a pharmacist by trade who would eventually get into the gold mining industry and acquire a number of properties in the Porcupine Gold Camp. Continue Reading →

High-grading: Timmins’ worst-kept secret? – by Frank Giorno (Timmins Today – November 25, 2016)

https://www.timminstoday.com/

Author Kevin Vincent launches his new book — a dramatic telling of the 1986 Aquarius Gold Robbery

Kevin Vincent, Timmins author and chronicler of the city’s second largest industry, gold high-grading, launched his second volume of stories dealing with the thefts of gold from the city’s gold mines, this volume dealing with the brazen Aquarius Gold mine theft of 1986.

The launch of Bootleg Gold Vol.2 was held at the Timmins Public Library Tembec room, last night, to a packed room of guests that included Timmins Mayor Steve Black, and Gregory Reynolds, former editor of the Timmins Daily Press and someone who also has many stories on the topic.

Vincent has been working for 30 years at collecting and telling the stories of more than 100 years of high-grading or gold thefts from Timmins gold mines since the very early days of the Porcupine gold rush and the founding of Timmins in 1912. Continue Reading →

Goldcorp prepared to extend Timmins’ 100-year gold rush – by Frank Giorno (Northern Ontario Business – December 6, 2016)

https://www.northernontariobusiness.com/

Area west of Timmins ‘underexplored and underdeveloped for gold mining’

Marc Lauzier, the general manager of Porcupine Gold Mines and Goldcorp’s operations in the Timmins gold camp, provided a vision for growth at two locations that could extend mining will into the 2030 and beyond.

Speaking at a Timmins Chamber of Commerce luncheon on Dec. 2, Lauzier detailed the present and future gold mining projects like Probe Mine at Borden Lake, near Chapleau, and the potential for developing the Project Century open pit at site of the current Dome open pit and Dome underground mine, which would engulf an area almost four times the current operation in South Porcupine.

With the eventual projected operations at Probe Mine and with Project Century fully on stream, an expansion of the Dome Mill’s capacity of 12,000 tonnes per day will also be required. Lauzier kicked off his talk by pointing out the importance of Goldcorp and its predecessor companies — Placer Dome, Hollinger and McIntyre Mine — to Timmins’ economic and culture. Goldcorp inherited a 106 years of tradition. Continue Reading →

Goldcorp GM talks about company’s future in Timmins – by Alan S. Hale (Timmins Daily Press – December 2, 2016)

http://www.timminspress.com/

Goldcorp is hard at work on projects that will see its century-long presence as an integral part of the Timmins economy continue for many years to come. That was the central message the mining company’s general manager, Marc Lauzier, brought to a crowded room full of mining industry members and other local business people on Thursday afternoon. The gathering was organized by the Timmins Chamber of Commerce as part of their series of Inside Your Business luncheons.

During his speech to the more than 150 people packed into the McIntyre Arena`s auditorium, Lauzier said despite the fact that many of their most profitable projects in the Timmins area are approaching the end of their life cycles, it is Goldcorp’s goal to keep mining in the region for as long as it is feasible.

“Today I want to talk about some the projects that we are trying to do so we can stay around Timmins for longer,” said Lauzier. “I’ve talked to some of our partners, and they are coming to the end of their lives in the next six to seven years. I’m standing here in front of you with some opportunities that could keep Goldcorp here and alive for at the same (levels of production) or even better for another 10, 15 or 20 years.” Continue Reading →

Barrick’s Munk Heads Top Ten Most Important Mining Men in Canadian History – by Stan Sudol

Melanie and Peter Munk

Melanie and Peter Munk

Four Americans Made the List!

A few months ago, my dear colleague Joe Martin, who is the Director of the Canadian Business & Financial History Initiative at Rotman and President Emeritus of Canada’s History Society, asked me a very simple question: who would be considered the most important individual in Canadian mining?

Considering Canada’s lengthy and exceptional expertise in the mineral sector, it was not an easy answer and I decided to research and create a top ten list of the most important mining men in Canadian history.

The lack of women on this list simply reflects the fact that for much of our history most women were not given the educational or social opportunities to excel in business, especially in a rough and male-dominated sector like mining. Times have changed, women are playing key roles in mining today and will definitely be included on this list in the future.

However, a few qualifiers need to be established. This is basically a list of mine builders not mine finders.  Building a company through takeovers and discoveries is one way but I am also focusing on individuals who have built corporate empires and/or who have developed isolated regions of the country with the necessary infrastructure for mines to flourish and create multi-generational jobs, shareholder wealth and great economic impact. Continue Reading →

[Sage Gold] Mine near Matheson to start production next year – by Alan S. Hale (Timmins Daily Press – November 24, 2016)

http://www.timminspress.com/

BLACK RIVER-MATHESON – A new gold mining project in the Matheson area will be able to begin production next year after it managed to clear one of the last major hurdles keeping the mine from going forward.

Sage Gold has inked a deal with Primero Mining that will allow them to send ore from their Clavos Mine to the Black Fox-Stock Mill located just 10 kilometres away. Finding a mill to process their ore was one of the final steps required to secure financing to reopen Clavos, which is a preexisting mine that has been inactive for years.

With the processing deal in place, and $11.5 million dollars of financing secured, First Nations consultations completed, and all the geological surveying done, Sage vice president Bill Love said the company can finally begin the work of getting Clavos ready to begin an expected seven years of gold production. Continue Reading →

Kidd doesn’t foresee extension of mine beyond 2022 – by Len Gillis (Timmins Daily Press – November 17, 2016)

http://www.timminspress.com/

TIMMINS – As much as the closure of the Kidd Mine will have an impact on the loss of assessment for the city hall treasury in Timmins, there will also be a dramatic impact on Kidd’s annual payroll in Timmins which is more than $100 million a year.

Some details of the closure plan for Glencore Kidd Operations in Timmins were revealed this week, ironically at a city council meeting where the company was honoured for the contributions it has made the community in the last half century.

“Exactly 50 years ago this week, in fact on the 16th of November, Kidd Creek officially went into production,” said Kidd Operations general manager Steve Badenhorst Monday night.

He said it has been a proud history for more than 20,000 past and present employees who have worked in one of the world’s best base metal deposits. Continue Reading →

HISTORY: Timmins mines, industries supplied war effort – by Karen Bachmann (Timmins Daily Press – November 12, 2016)

http://www.timminspress.com/

TIMMINS – When the Americans officially joined the war effort after the bombing of Pearl Harbor in December 1941, Canadians had already been at war for a little almost three years.

Both the troops and the people they left behind at home were battle hardened and used to the drill, so to speak. Every corner of the then British Empire was affected by the conflict – and that means we here in Timmins were not any different.

The early days of 1942 saw some tragic news for the community. Sgt. Pilot B. O’Neill, the first airman from Timmins to receive his “wings” in the Royal Canadian Air Force (from this area, that is), was reported missing in action after being on a bombing flight “somewhere in Europe”. Continue Reading →