Battery electric in mining here to stay: Panel of experts talk future and challenges of emerging technology at Sudbury event – by Karen McKinley (Northern Ontario Business – January 18, 2019)

https://www.northernontariobusiness.com/

The transition to battery electric vehicles in mining is well underway, but there remain technology issues that need to be addressed, said a panel of industry leaders in Sudbury, Jan.17. The discussion on electric vehicles brought a packed house to the Sudbury chapter of the Canadian Institute of Mining monthly general meeting at Science North.

The panel included Shane Wisniewski, general manager of mining projects at Glencore; Brian Huff, chief technology officer of Artisan Vehicles; Mike Mayhew, mine superintendent of Kirkland Lake Gold; Raphael Tiangco, superintendent of mobile fleet management at Vale; and Maarten van Koppen, senior project engineer at Goldcorp.

The panelists agreed that battery technology is the way of the future for deep hardrock mining, citing everything from cost savings, durability and health and safety. Tiango related his experiences underground when diesel was the dominant energy source. Continue Reading →

[Newmont/Goldcorp] These assets could be up for grabs after mega gold mining merger – by Rajeshni Naidu-Ghelani (Bloomberg News/Business Network News – January 18, 2019)

 

https://www.bnnbloomberg.ca/

Recent M&A activity in the mining sector like Newmont Mining Corp.’s move this week to buy Goldcorp Inc. to form the world’s largest gold miner, and rival Barrick Gold Corp.’s acquisition of Randgold Resources Ltd., have shaken up the lacklustre industry.

As part of the deals, the mining giants have said they will be selling assets — sparking speculation on which mines could be up for grabs, and who would be interested in buying them.

Newmont and Goldcorp. said on Monday the merged company will sell up to US$1.5 billion in assets over the next two years, while Barrick has pledged to focus on cash-generating assets. Continue Reading →

My Take on Snow Lake: New exploration of previous mine site yields promising results – by Marc Jackson (Thompson Citizen – January 18, 2019)

https://www.thompsoncitizen.net/

Mining is the industry that drives the economy in the Snow Lake area … it has for over 100 years. All of the mines the industry is based on have been in the ground since the Earth was formed; however, it was only when technology allowed mine finders the ability to locate orebodies that they were able to exploit them. As technology continually advances, many of those occurrences mined or explored in decades past are now getting a second look.

This was the case with the Lalor Mine (Chisel Lake Basin) and the Snow Lake Mine (New Britannia and Nor-Acme), but it is also playing a part in the resurrection of exploration on several lithium properties on the east side of Wekusko Lake (Thompson Brother Cluster and the Sherritt Gordon Cluster), as well as the mine that originally brought pioneers to the area early in the 20th century – Herb Lake’s Rex/Laguna.

Back in the 1930s and ’40s, Herb Lake, Manitoba was a prosperous mining town. It hummed with activity and even though it couldn’t be accessed by anything other than boat and a winter road, it was home to between 600 and 700 people. Continue Reading →

Is Newmont Goldcorp good for North? – by Shane Lasley (Mining News – North of 60 – January 18, 2019)

https://www.miningnewsnorth.com/

he proposed combination of Newmont Mining Corp. and Goldcorp Inc. has raised questions about the future of the companies’ gold assets in the Yukon and investments in other junior mining companies across Canada’s North.

Two of the gold projects in the proposed Newmont Goldcorp pipeline are found in the Yukon – Plateau, a large property being explored by Newmont, and Coffee, a project that is nearing the mine development stage.

Knowing that the combined gold miner plans to shed some of its assets, it is currently unclear whether these projects will fit into the larger company’s pipeline or be put up for sale as part of the effort to slim down. Continue Reading →

Dinner and a golden proposal: How Goldcorp and Newmont came together – by Niall McGee and Rachelle Younglai (Globe and Mail – January 18, 2019)

https://www.theglobeandmail.com/

When Goldcorp Inc. executives sat down with their counterparts at Newmont Mining Corp. at an upscale restaurant in downtown Vancouver, it was supposed to be a casual get-together. The mid-December dinner had been on their schedules for some time, and was planned simply to build the rapport between the two senior gold mining companies.

Instead, in one of the restaurant’s private dining rooms, Newmont chair Noreen Doyle and chief executive Gary Goldberg told Goldcorp attendees it wanted to acquire the company. The reaction from Goldcorp chair Ian Telfer and CEO David Garofalo was shock.

While Vancouver’s Goldcorp had been exploring the idea of working with Denver-based Newmont for a few years, the idea of a takeover had never come up. However, with Goldcorp’s share price severely beaten down after many strategic blunders, it was vulnerable. In fact, Goldcorp had recently been talking with Australia’s Newcrest Mining Ltd. about a possible takeover of Goldcorp. Continue Reading →

Canada could impact emissions were Ottawa not so obsessed with carbon taxes – by Brad Wall (Financial Post – January 18, 2019)

https://business.financialpost.com/

Brad Wall is the former premier of Saskatchewan. He is currently an adviser for Osler, Hoskin and Harcourt in Calgary.

Canadian technology could clean up hundreds of coal plants around the world

Three years ago, there we were at the COP21 Paris Climate Conference: 383 Canadians strong. Our delegation was larger than almost any other country’s, rivalling even the host country’s delegation. Canada was back.

Saskatchewan was there, too, with our three-person contribution to the overall Canadian throng, though we may have been a little out of step.

Just two weeks before Paris, the Alberta government had announced its own carbon tax. The explicit and implied promise was that this indulgence paid by Albertans would purchase the absolution required to secure pipeline approvals. Saskatchewan then was alone in its opposition to a nationally imposed carbon tax. So, in Paris we were — without intention — a few prairie skunks at this low-carbon garden party. Continue Reading →

OPINION: Environmentalists’ next opponent? First Nations – by Gary Mason (Globe and Mail – January 18, 2019)

https://www.theglobeandmail.com/

When Justin Trudeau announced he was buying a pipeline last May, the condemnation from leading environmental organizations was swift and fierce. And according to the country’s most renowned eco-warriors, no group had been betrayed more by the move than First Nations.

Greenpeace said the government had put itself on a “collision course” with Indigenous rights. The Wilderness Committee, the David Suzuki Foundation and Stand.earth, among others, reiterated similar talking points:

By acquiring the Trans Mountain pipeline and the rights to expand it, Ottawa had trampled on constitutional privileges enjoyed by the country’s aboriginal community and had lost its trust in the process. There was only one problem with this line of attack: It wasn’t true. Continue Reading →

Miners waiting for higher nickel, metals prices – by Harold Carmichael (Sudbury Star – January 18, 2019)

https://www.thesudburystar.com/

The prices of nickel and other metals prices will recover, especially when more electric vehicles are built, mining analysts say. When they do, work at Levack Mine’s Morrison deposit will resume. Until then, KGHM Sudbury will keep the deposit in a care and maintenance mode, company officials say.

“It was very difficult,” Steve Dunlop, KGHM Sudbury general manager, said about meetings with employees held Wednesday to break the news. “Our concern is certainly with our employees. We are a fairly tight family. All of our workers have 10-plus years and the staff (members) have also been with us for quite a long time. It was very difficult.”

Slumping world nickel prices have prompted KGHM Sudbury to halt production at its Morrison deposit, putting an estimated 120 employees out of work as of late March when the mine goes into care and maintenance mode. A total of 87 of the affected 120 employees are members of United Steelworkers Local 2020. Continue Reading →

Security expert warns Canadian man’s death is ‘shot fired’ to mining companies in West Africa – by Janice Dickson (Globe and Mail – January 18, 2018)

https://www.theglobeandmail.com/

A former senior member of Canada’s spy agency says the killing of Canadian citizen Kirk Woodman is a “shot fired” across the bow of other mining companies operating in West Africa – a region that could see exploration grind to a halt in the wake of his death.

Mr. Woodman was abducted on Jan. 15 by a dozen gunmen on a mining site owned by Vancouver-based Progress Minerals near the border with Niger, an area that the government says is under growing threat from armed jihadis.

A spokesman for Burkina Faso’s security ministry confirmed on Thursday that Mr. Woodman had been found dead. Andrew Ellis, former assistant director of operations for CSIS, said Mr. Woodman’s death is a wake-up call “for all the other mineral extraction companies in Canada working in the region.” Continue Reading →

Memo to Trudeau — we support pipelines – by Lorrie Goldstein (Toronto Sun – January 16, 2019)

https://torontosun.com/

Few countries have been as willing to cut their own economic throats as Canada. We lose an estimated $15 billion annually in revenue to our economy — $40 million a day — because of our inability to get our oil to global markets, due to our lack of pipeline capacity.

That means we have to sell it at a massive discount to our only customer — the United States. The U.S., by contrast, has always acted in its own economic self-interest when it comes to oil and natural gas, regardless of whether a Republican or Democrat is in charge of the White House.

While U.S. President Barack Obama was self-righteously and hypocritically vetoing the Keystone XL pipeline to get Alberta oil to the Texas Gulf Coast, his administration approved enough new oil and gas pipelines in the U.S. to more than encircle the Earth. Continue Reading →

Foreigners are taking control of Barrick and Goldcorp – but the miners made this mess – by Tim Kiladze (Globe and Mail – January 18, 2019)

https://www.theglobeandmail.com/

David Garofalo seemed to have everything going for him. A polished executive with a strong résumé in mining, he was hired to run Goldcorp Inc. in 2015, giving him control of what looked like a darling in a moribund sector.

Unlike many of its peers, Goldcorp came out of the commodity crash with a favourable view from investors. It had avoided mega-acquisitions. The balance sheet looked good.

Three years later, Mr. Garofalo has lost the confidence of shareholders. Goldcorp’s stock fell by more than half, hit by falling production and rising costs, prompting U.S. gold giant Newmont Mining Corp. to step forward this week with a deal to buy the company for US$10-billion. It’s not certain if Mr. Garofalo will have a job at the merged company. What is clear is that another big Canadian-based mining company is falling into foreign hands. Continue Reading →

Mystery solved: Why Newmont is offering a mere 2 cents in cash as part of its bid for Goldcorp – by David Milstead (Globe and Mail – January 17 2019)

https://www.theglobeandmail.com/

It is the mystery of the two cents. When Newmont Mining Corp. said on Monday it will buy Goldcorp Inc. for about $10-billion, swapping its stock for Goldcorp’s, it said it would add 2 US cents per share in cash to the transaction. The tiny little sweetener will cost Newmont just US$17-million.

Why even bother? Robert Willens, a long-time U.S. securities analyst who specializes in matters of taxation, seems to have the answer. Newmont is creating a sizable but little-understood tax benefit for Goldcorp Inc.’s U.S. shareholders that effectively makes its offer more valuable than it appears.

The companies have not addressed the matter. Newmont declined to comment for this story and Goldcorp did not respond to a request. But Mr. Willens told his clients on Tuesday that the structure of the deal makes it taxable for Goldcorp’s U.S. and Canadian shareholders. Usually, companies do everything to avoid that. Continue Reading →

Northern Superior moves forward with projects in Ontario and Quebec – by Staff (Mining.com – January 17, 2019)

http://www.mining.com/

Northern Superior Resources (TSX-V: SUP) issued a press release this week stating that it is ready to move forward with both its TPK gold-silver-copper project located in northwestern Ontario and its Lac Surprise gold project located in Quebec.

The Sudbury-based company said it expects to start drilling at the Ti-pa-haa-kaa-ning property, known for its initials TPK, by mid-February, following the completion of an option/joint venture agreement with Yamana Gold (TSX: YRI) (NYSE: AUY) at the tail end of 2018.

The massive Ontario mine site, which occupies 442,669 hectares and sits 15 kilometres west of the Ring of Fire, is considered to host the largest gold grain-in-till dispersal aprons in North America, with drill core intersections yielding up to 25.9g/t gold over 13.5m. Continue Reading →

Gold Bull McEwen Sticks With His $5,000 Call as Pot Stocks Peak – by Danielle Bochove (January 17, 2019)

https://www.bloomberg.com/

Gold mining veteran Rob McEwen is nothing if not optimistic. The founder of Goldcorp Inc. is sticking with his bold prediction that the precious metal will soar almost fourfold to $5,000 an ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks.

“Once people get over buying cryptos and biotech and cannabis stocks they’re going to start looking at gold again,” the chief executive officer of McEwen Mining Inc. said in an interview Thursday in Toronto with Bloomberg Television.

Asked about his price target, McEwen said: “I’ve always liked $2,000 and beyond that $5,000.” McEwen has been wrong before. In 2017, he predicted a “tsunami” of liquidity seeking safe haven would push gold above $5,000 an ounce. Continue Reading →

News Release: First Nations call on Ontario to fix unjust process threatening electrical transmission reliability (January 17, 2019)

Toronto, Ontario – Today, leaders of six First Nations call on the Ontario Government to intervene and fix a broken process created by the Ontario Energy Board (OEB) and the previous Ontario government that ignores First Nations’ rights and northern development pertaining to a necessary and important electricity transmission project planned for Northern Ontario.

The six First Nations are part of Bamkushwada Limited Partnership (BLP). BLP has developed a relationship with NextBridge, the East-West of the East-West Tie Transmission Project that was awarded Leave to Develop by the OEB in 2012. BLP becomes partnered with NextBridge in ownership of this Project when it goes into operation, providing many millions in business contracting and hundreds of employment opportunities for First Nations, and for northern municipalities.

This transmission line is a priority initiative of the Province of Ontario, needed to ensure the reliability of electrical service to communities in the Northwest. Without the Project in-service by 2020, as has been urgently deemed necessary by the Minister of Energy, Northern Development and Mines, and the Independent Electricity System Operator, residential and business customers face a higher likelihood of outages and less reliable electricity overall. NextBridge (partnered with BLP) is the only proponent that can build this line in the timelines that are required by Ontario. Continue Reading →