[Sault Ste. Marie ferrochrome] Plant needs public support – by Frank O’Connor (Sault Star – December 7, 2017)

http://www.saultstar.com/

So the prospect of a ferrochrome processing facility locating here has prompted a local group to mobilize an opposition effort. Members of the opposition group suggested that Mayor Provenzano’s comments that the team developing the proposal to be the potential host site have hit a home run was the motivation that rallied their troops to speak out in opposition.

With the Ring of Fire’s new access road development plans moving forward, as a result of the Ontario government working together with three northern First Nations bands, the rich mineral deposits in this James Bay region may now have a viable way out.

Chromite, nickel, copper, and platinum are present at this site, and may potentially be one of the richest deposits found in a very long time. Financial forecasts of the deposit’s value are in the 30 billion to 60 billion range. This is certainly a game changer for that northern region, and a potential major economic generator for all of Ontario. Continue Reading →

Billionaire’s Mine Financing Hurdles Fuel Bondholder Jitters – by Ruth Liew and Perry Williams (Bloomberg News – December 7, 2017)

https://www.bloomberg.com/

The Indian conglomerate Adani Enterprises Ltd. is learning how one financing problem can lead to headaches for debt investors elsewhere as it tries to secure money for one of the world’s biggest coal mines.

Three of China’s largest banks this week ruled out any involvement in financing the mine in Australia’s Queensland state. That fanned investor concerns about debt elsewhere in the company’s businesses in the South Pacific nation.

Dollar bonds from wholly owned unit Adani Abbot Point Terminal Pty — which oversees a deep water port on the coast of Queensland — sunk to fresh lows after the news. Continue Reading →

Court upholds decision to block Taseko mine near Williams Lake – by Ana Rose Walkey (Globe and Mail – December 6, 2017)

https://www.theglobeandmail.com/

A Federal Court judge has ruled against a contentious mine proposal in central British Columbia, upholding Ottawa’s decision to reject the project over concerns it would adversely affect the environment.

A pair of decisions, released this week, mark the latest blow for Taseko Mines Ltd.’s New Prosperity mine, which is opposed by local First Nations, has been rejected twice by the federal government and has been the subject of years of litigation. The company says it’s reviewing the court decision.

The New Prosperity project is a proposed open-pit copper and gold mine located 125 kilometres southwest of Williams Lake, B.C., near the Xeni Gwet’in First Nation community, part of the Tsilhqot’in Nation. Continue Reading →

Biggest Iron Ore Miner Threatens to Flood Market If Prices Surge – by R.T. Watson and Joe Deaux (Bloomberg News – December 7, 2017)

https://www.bloomberg.com/

Vale SA has a somber message for anyone betting on iron ore prices returning to the heady days of 2011.

The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high, Chief Executive Officer Fabio Schvartsman said.

High prices would lure inefficient producers back into the market and risk a repeat of past excesses that led to $1 trillion in value destruction, he said Wednesday in an interview with Bloomberg Television from the New York Stock Exchange, where Vale held its annual investor day. Continue Reading →

COLUMN-Indonesia’s Freeport-Rio plan masks longer-term issues – by Clyde Russell (Reuters U.K. – December 7, 2017)

https://uk.reuters.com/

LAUNCESTON, Australia, Dec 7 (Reuters) – A proposed three-way deal between the Indonesian government, Rio Tinto and Freeport-McMoRan to clean up the ownership of the giant Grasberg copper-gold mine looks like one of those rare situations where everybody wins.

Except that it isn‘t. Certainly all parties may walk away feeling that they have achieved the best outcome, assuming the complicated deal can be pulled off at a price acceptable to all three.

But this ignores the wider picture in which any short-term advantage is likely to be offset by compounding longer-term problems. First, a brief re-cap of what’s at stake. Grasberg is the world’s second-largest copper mine, as well as being one of the five-biggest gold mines, and is further advantaged by having high grades and low costs. Continue Reading →

How J.P. Bickell helped shape Toronto, from Famous Players to the Maple Leafs – by Sammy Hudes (Toronto Star – December 7, 2017)

https://www.thestar.com/

John Paris Bickell’s life began with loss. But it would never hold him back. Born in Molesworth, Ont., and raised in Toronto, Bickell, most commonly known as J.P. or Jack, would grow up to run his own brokerage firm by 23, become a millionaire before 30, serve as an owner and director of the Toronto Maple Leafs — spearheading the construction of Maple Leaf Gardens — and contribute significantly to the war effort.

His influence touched the mining, banking and movie industries in Canada and his philanthropy profoundly impacted medical research and children’s health for years to come. Yet for Bickell, household name status never quite came, even in death.

“If anybody in Canada has owned gold, silver, flown in a plane, been in a sporting event, been in a hospital or benefited from medical research, been in a movie theatre, you have been touched by J.P. Bickell,” says Graham MacLachlan, who co-authored a book published in September titled J.P. Bickell: The Life, the Leafs and the Legacy. Continue Reading →

Displaced by mining, Peru villagers spurn shiny new town – by Mitra Taj (Reuters U.S. – December 7, 2017)

https://www.reuters.com/

NUEVA FUERABAMBA, Peru (Reuters) – This remote town in Peru’s southern Andes was supposed to serve as a model for how companies can help communities uprooted by mining.

Named Nueva Fuerabamba, it was built to house around 1,600 people who gave up their village and farmland to make room for a massive, open-pit copper mine. The new hamlet boasts paved streets and tidy houses with electricity and indoor plumbing, once luxuries to the indigenous Quechua-speaking people who now call this place home.

The mine’s operator, MMG Ltd (1208.HK), the Melbourne-based unit of state-owned China Minmetals Corp CHMIN.UL, threw in jobs and enough cash so that some villagers no longer work. Continue Reading →

NEWS RELEASE: Sabina Gold & Silver Reaches Major Milestone to Advance Back River Gold Project with Positive Decision from Minister of Indigenous and Northern Affairs Canada

http://www.sabinagoldsilver.com/

VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (TSX:SBB.T), (“Sabina” or the “Company”) is pleased to announce that it has received a positive decision from the Minister of Indigenous and Northern Affairs Canada (the “Minister” or “INAC”) that the Back River Project (the “Project” or “Back River”) may move forward to the regulatory and licensing phase which would include completion of all necessary permits to commence mine construction.

In July 2017, the Nunavut Impact Review Board (“NIRB”) completed its review of the environmental assessment of the Project and recommended to the Minister that the Project should be given approval to obtain the required permits and licenses for mine construction and operation.

In a letter dated December 5, 2017, the Minister on behalf of the five responsible federal Ministers, accepted NIRB’s recommendation. The NIRB will now work towards issuing a Project Certificate for Back River, which will attach the terms and conditions for mine development, construction, operation and eventual closure. Continue Reading →

Commentary: SCC decision on Peel watershed in Yukon another win for First Nations – by Bill Gallagher (Northen Miner – December 6, 2017)

http://www.northernminer.com/

First Nations have just won an important lawsuit at the Supreme Court of Canada on account that the Yukon government had tried to do an end-run on their land claim settlements.

Readers who have followed my tracking of the native legal winning streak in Canada will be familiar with my preferred wording of “Land Rights” as the catch-all phrase whereby natives typically win in the resources sector since they have constitutionally-protected land rights that the rest of us don’t.

My message to government and industry is always the same: realize that natives are resource gatekeepers in Canada and work them into the project as the key local players that they are. Continue Reading →

Vale cuts nickel output but is positive on long-term demand – by Christian Plumb (Reuters U.S. – December 6, 2017)

https://www.reuters.com/

NEW YORK (Reuters) – Brazilian miner Vale SA dialed back its nickel output forecasts for the next five years on Wednesday, although the world’s top producer of the metal praised its longer term prospects on likely soaring demand for electric cars.

Vale cut its nickel output estimate by 15 percent to 263,000 tonnes next year and said it was still seeking an investor for its New Caledonia nickel mine.

However, Vale wants to “preserve its nickel optionality” ahead of an expected boom in electric vehicles in the next decade, said Jennifer Maki, executive director of Vale’s base metals unit, at an annual investor presentation in New York. Continue Reading →

Iron ore tops $US72 a tonne, defying naysayers yet again – by Timothy Moore (Australian Financial Review – December 5, 2017)

http://www.afr.com/

Iron ore rallied solidly into the $US70 a tonne range as Chinese steel futures surged, with local mills seen continuing to produce at high rates to take advantage of strong profit margins.

The spot price of iron ore rose $US2.57, or 3.7 per cent, to $US72.68 a tonne on Monday, according to Metal Bulletin – its highest since mid September. The steelmaking raw material – which advanced 2.9 per cent on Friday – has now risen more than 20 per cent from late October. Iron ore continues to defy forecasts that it will reverse into the $US50 range as global supply slowly rises and China’s economy gradually slows.

“We think that the latest gains in the iron ore price are a knee-jerk reaction to soaring steel prices, rather than a reflection of iron ore’s fundamentals,” said Caroline Bain, chief commodities economist at Capital Economics. Continue Reading →

Newmont Poised to Oust Barrick as World’s Top Gold Producer – by Danielle Bochove (Bloomberg News – December 6, 2017)

https://www.bloomberg.com/

Newmont Mining Corp.’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The chief executive officer raised his 2018 production forecast to a range of 4.9 million to 5.4 million ounces.

That exceeds Barrick Gold Corp.’s 2018 guidance of 4.8 million to 5.3 million given in February, which doesn’t include the impact of the sale of 50 percent of a mine in Argentina.

While Newmont is already ahead of Barrick by market value, the midpoints of the two companies’ 2017 guidance indicate Barrick will keep Newmont at bay this year in terms of output. That’s not the case in the following years. Continue Reading →

[Norm Tollinsky] Journalist honoured for mining industry coverage – by Karen McKinley (Northern Ontario Business – December 5, 2017)

https://www.northernontariobusiness.com/

Sudbury Mining Solutions Journal writer and founding editor Norm Tollinsky inducted into Mining Hall of Fame

It was a night of firsts at the Sudbury Area Mining Supply and Service Association (SAMSSA) annual general meeting. The first time a woman will be president and the first time a journalist has been inducted into the Mining Hall of Fame.

Norm Tollinsky, editor of Sudbury Mining Solutions Journal, was presented with the honour on Dec. 4 at Dynamic Earth. He and the journal were lauded for 12 years of covering stories specific to the mining industry and bringing stories of the hard work and innovation coming from it.

Taking the podium, he thanked everyone for the honour, adding there was no greater feeling for a writer than being appreciated by the readers. Continue Reading →

Alaskan Native village, conservation groups sue BLM over mine on Chilkat River – by Kevin Gullufsen (Juneau Empire – December 5, 2017)

http://juneauempire.com/

The tribal government of Klukwan filed a lawsuit Monday against the Bureau of Land Management, accusing it of failing to protect culturally-important salmon habitat and world’s largest bald eagle congregation from mining on the Chilkat River drainage.

Filed in U.S. District Court on Monday, the suit alleges that BLM neglected its duties when permitting expansions of mineral exploration in the area in the last year and a half.

Permitting mineral exploration would eventually lead to the creation of a hard rock mine, the suit argues, which has been shown to negatively affect water bodies downstream. Mining companies conduct mineral exploration in hopes of documenting the existence of valuable ore bodies. Smaller exploration companies often then sell their claims to larger extraction companies after they’ve proved valuable. Continue Reading →

Rio Tinto aims for “intelligent” Australian iron ore mine – by James Regans (Reuters U.S. – December 4, 2017)

https://www.reuters.com/

SYDNEY (Reuters) – Rio Tinto next year will seek board approval to develop an “intelligent” iron ore mine at a cost of $2.2 billion, fully incorporating technologies such as robotics and driverless trains and trucks on a single site, the company’s head of iron ore said on Monday.

A feasibility study was underway to demonstrate the economics behind developing the Koodaideri mine in the Pilbara region of the state of Western Australia, said Chief Executive, Iron Ore Chris Salisbury.

Rio Tinto extracts more than 300 million tonnes of ore annually in Australia, making it the world’s second-biggest iron ore miner after Brazilian giant Vale. Continue Reading →