Lac des Iles Mine has 10 more years of life: North American Palladium releases new feasibility study, mine plan for northwest operation (Northern Ontario Business – September 17, 2018)

September 18, 2018 in Canadian Regional Media and Web Publications, Ontario Mining, Platinum Group Metals

https://www.northernontariobusiness.com/

The discovery of new underground reserves has pushed the life of the Lac des Iles Mine (LDI) to 10 years. North American Palladium (NAP) released an updated feasibility study and mine plan that projects a longer mine life at its operation, north of Thunder Bay.

NAP has been employing a more efficient bulk mining method – known as sublevel shrinkage (SLS) – in the lower part of the mine that it intends to utilize at other near-surface resources on their property. In June 2017, NAP put out a feasibility study that projected nine-and-a-half years of mine life. The updated study extends it by one year to 2027.

North American Palladium regards LDI as already one of the lowest cost underground mines in Canada. The new study shows improved margins, cash flows, mine life and net present value relative than what the company released in June 2017. Continue Reading →

The Riches Beneath the Plains: Mineral Exploration and Mining in Saskatchewan is Still World Class (Investng News Network – September 17, 2018)

September 18, 2018 in Potash/Phosphate, Saskatchewan Mining, Uranium and Nuclear Power Industry

Investing News Network

This INNspired article is sponsored by Canadian Platinum https://www.canplats.ca/index.cfm

Mineral exploration and mining in Saskatchewan have consistently been recognized as the best examples for the industry in Canada, and the province is considered one of the greatest places in the world to conduct mining operations.

The latest Fraser Institute report places the flat province at number two in their worldwide rankings, just below Finland. As the third largest source of employment in the province, the mining industry is vitally important to Saskatchewan. This has led its provincial government to go out of its way to make sure mining in Saskatchewan is as attractive to mining firms as possible.

That’s not to say that Saskatchewan needs much help. Proudly boasting a rich and diverse mineral wealth, a skilled workforce and a strong mining history, Saskatchewan’s mining industry provides enormous opportunity and excellent stability for the mining firms conducting operations within its borders. Continue Reading →

New Voisey’s Bay royalty calculation agreed on – by Marleny Arnoldi (MiningWeekly.com – September 17, 2018)

September 18, 2018 in Canadian Media Resource Articles, Junior Exploration Sector, Newfoundland and Labrador Mining, Nickel, Vale

http://www.miningweekly.com/

TSX-listed Altius Minerals and Nasdaq-listed Royal Gold have entered into an agreement with Vale Canada to settle litigation related to the calculation of the royalty in respect of all concentrates produced from the Voisey’s Bay mine, in Newfoundland and Labrador.

The Voisey’s Bay 3% net smelter return royalty is directly owned by the Labrador Nickel Royalty partnership, of which Altius is a 10% owner and a subsidiary of Royal Gold is a 90% owner.

The parties agreed to a new method for calculating the royalty regarding concentrates processed at Vale’s Long Harbour processing plant, which will be effective for all Voisey’s Bay mine production after April 1 this year. Continue Reading →

Open letter to anyone who uses a smartphone, drives an electric car, or flies on a plane – by Siddharth Kara (Harvard Kennedy School/Reuters – September 18, 2018)

September 18, 2018 in Africa Mining, Cobalt, Critical, Strategic and Rare Earth Minerals and Metals, International Media Resource Articles, Mining Child and Slave Labour – Historical and Current

http://news.trust.org/

Make no mistake – the supply chain of cobalt from the Congo is smeared in blood and misery

I recently returned from a research trip to the Democratic Republic of the Congo (DRC), where tens of thousands of children toil in abject squalor, endure pitiful penny wages, grave injury, and even death in order to mine cobalt.

Once processed, this cobalt is used in the lithium-ion rechargeable batteries that power our electronic devices, allow us to snap photos and videos that capture our lives, and connect us to social media. It also powers our electric vehicles and is used to build the jet engines that carry us around the world.

Companies such as Apple, Google, Samsung, Tesla, Boeing, and dozens more that buy cobalt sourced from the DRC are aware of the appalling conditions in which cobalt can be mined, yet no one appears willing to address the situation. Make no mistake – the supply chain of cobalt from the Congo is smeared in blood and misery. Continue Reading →

Philippine Miners Trapped in Typhoon: Drawn by Gold, Drowned in Mud – by Hannah Beech (New York Times – September 17, 2018)

September 18, 2018 in Asia Mining, Gold and Silver, International Media Resource Articles, Mining Accidents, Deaths, Cave-Ins and Industrial Disease

https://www.nytimes.com/

ITOGON, Philippines — A month ago, Jes Feliciano struck gold. The ingot was the size of a coin, and it brought the 16-year-old miner more money than he ever imagined.

On Monday evening, Mr. Feliciano got a reminder that what the Cordillera Mountains give, they also take away. That is when he identified the body of his uncle, Mordecai Bahatan, one of dozens of miners feared killed when a torrent of earth, loosened by a typhoon’s rain, engulfed their encampment in the mountains.

The bounty of the Cordilleras, which form the northern spine of Luzon, the main island in the Philippines, is legendary: gold, hydropower and fertile farmland. But the mountains’ danger is equally fabled to the people who make the cloud-wreathed peaks home. Continue Reading →

Solid demand to underpin lithium as price slides in 2018 – by Zandi Shabalala (Reuters U.S. – September 17, 2018)

September 18, 2018 in Battery Technology Innovation/Electric Vehicles, International Media Resource Articles, Lithium

https://www.reuters.com/

LONDON (Reuters) – An oversupply of lithium this year has nearly halved prices this year in China, halting an unprecedented run for the key component for batteries used in electric vehicles.

But analysts say solid long-term demand should shore up the market after a slight surplus in demand this year. A boom in electric vehicles has boosted prices for components of lithium-ion batteries including lithium and cobalt, as consumers such as car companies to scramble to secure supplies.

But lithium prices have come under pressure in 2018 because miners have ramped up production, consumers destocked supplies and a subsidies in China’s new energy vehicles (NEV’s) market have been pulled back. Continue Reading →

A thirsty business: factoring water into the true cost of coal – by Scarlett Evans (Power Technology – September 18, 2018)

September 18, 2018 in Africa Mining, Canadian Regional Media and Web Publications, Coal

https://www.power-technology.com/

South Africa’s Life After Coal campaign is calling for a closer look at coal’s impact on water. But just what are the true costs of the coal industry?

While a rise in renewable energy has meant the global share of coal-fired generation is beginning to fall, the material continues to make up a significant portion of many nations’ energy mixes. One such country is South Africa, which currently relies on coal for more than 90% of its power, though climate targets and a national water crisis have given rise to calls for a change.

The International Energy Agency estimates that global energy production requires 10% of the world’s total water withdrawals. Given that in 2017, prolonged drought and resource mismanagement resulted in Cape Town being only days away from running out of water entirely, it’s clear that every drop counts, and coal power requires more than just a drop.

The Life After Coal campaign is attempting to highlight the industry’s significant water costs and push the country to a cleaner, renewable future. Continue Reading →

Philippine leader again vows to shut mines after deadly landslides – by Manolo Serapio Jr (Reuters U.S. – September 17, 2018)

September 18, 2018 in Asia Mining, International Media Resource Articles, Mining Accidents, Deaths, Cave-Ins and Industrial Disease

https://www.reuters.com/

MANILA (Reuters) – Philippine President Rodrigo Duterte repeated his call on Monday to shut all mines in the country following deadly landslides, hours after his minister halted all small-scale mining in a mountainous gold-rich region.

“If I were to try to do my thing I will close all mining in the Philippines,” he said, presiding over a televised meeting of the government’s disaster response team two days after a powerful typhoon struck.

Duterte has often criticized the mining industry, saying the environmental damage far outweighs any benefit to the economy. His latest comments followed an order earlier by Environment and Natural Resources Secretary Roy Cimatu to stop all small-scale mining in the Cordillera region, where landslides killed 24 people. Continue Reading →

Timmins-area mineral properties ripe for development – by Lindsay Kelly (Northern Ontario Business – September 18, 2018)

September 18, 2018 in Canadian Regional Media and Web Publications, Gold and Silver, Ontario Mining, Timmins

https://www.northernontariobusiness.com/

McEwen Mining provides mid-year update on exploration, development activities

Rob McEwen is so confident in the quality of his namesake company and its deposits he’s put $160 million of his own capital into their development, and is taking a salary of just $1 per year, without a bonus or options.

“So why such a big commitment?” he asked during a Sept. 7 mid-year webcast report to investors. “I’m a big believer in our future, the potential of our properties, the skill of our team, and the power of mining to make a meaningful contribution to society at large.”

McEwen is the founder, chair, and chief shareholder of McEwen Mining, which owns a number of gold and base metals properties in the Timmins area, in addition to the El Gallo Mine in Mexico, the San José Mine in Argentina, the Gold Bar property in Nevada, Project Fenix in Mexico, and the Los Azules property in Argentina. Continue Reading →

Base Metals Drop as Trade War Angst Spurs Concern About Demand (Bloomberg News – September 17, 2018)

September 18, 2018 in Commodity Super-Cycle and Decline, International Media Resource Articles

https://www.bloomberg.com/

Industrial metals fell for a second day on concern that the escalating U.S.-China trade war will hurt prospects for demand in the biggest users.

The Bloomberg Industrial Metals Subindex, which tracks aluminum, copper, nickel and zinc, slipped 0.8 percent as the market braced for a new round of U.S. tariffs on about $200 billion more in Chinese products that’s seen spurring retaliation from Beijing.

Aluminum’s losses also came as the U.S. Treasury softened the impact of sanctions on Russian supplier United Co. Rusal. Metals have been under pressure for months as the U.S.-led trade war fans concern that the showdown will derail otherwise-strong economic growth in the world’s two largest economies. Continue Reading →

Imperial Metals explores sale of company amid financial restructuring – by Niall McGee (Globe and Mail – September 18, 2018)

September 18, 2018 in British Columbia Mining, Canadian Media Resource Articles, Copper, Gold and Silver, Mining Environmental Accidents, Pollution and Abandoned Mines

https://www.theglobeandmail.com/

Troubled junior copper producer Imperial Metals Corp. has kicked off a strategic review that may result in the sale of the company as it struggles under a mountain of debt.

In a Monday release, Imperial Metals said it will also consider selling assets piecemeal, entering into joint ventures or recapitalizing the company.

The Vancouver-based company, backed by well-known energy executive Murray Edwards, says it has taken a number of steps that give it financial breathing room in the short term. With a market capitalization of just $134-million, it has a debt load of roughly $857-million and a cash balance of $16-million as of the end of the second quarter. Continue Reading →

How to flog glitter to the young and affluent: A De Beers special report – by Greg Klein (Resource Clips – September 14, 2018)

September 18, 2018 in Canadian Regional Media and Web Publications, Diamond Mining

http://resourceclips.com/

Last year’s global market for diamond-encrusted jewelry rose 2.2% to a new high of $82 billion, largely due to the planet’s most populous age groups, says the world’s largest purveyor of the bling. But as “consumer power” shifts from elderly Boomers and middle-aged Generation X to Millennials and Gen Z, manufacturers and retailers must meet a new set of consumer expectations, De Beers’ Diamond Insight Report warns.

Americans again demonstrated the largest demand for diamond jewelry, splurging $43 billion, up 4.2% from the previous year’s $41 billion extravagance in a market that’s expected to show steady growth.

Looking at diamonds’ pre-jewelry market, rough sales to cutting and polishing facilities rose 2% to $16.6 billion. De Beers claimed 34% of the total, down from its 2016 portion of 37%. Alrosa’s share came to 25%, compared with 27% the previous year. This year’s H1 sales to cutting centres, however, have surpassed the same period in 2017. Continue Reading →

Congo will declare cobalt and other minerals as “strategic” in coming days – mines minister – by Amedee Mwarabu (Reuters U.S. – September 15, 2018)

September 18, 2018 in Africa Mining, Cobalt, Critical, Strategic and Rare Earth Minerals and Metals, International Media Resource Articles

https://www.reuters.com/

KOLWEZI, Democratic Republic of Congo, Sept 15 (Reuters) – T he prime minister of Democratic Republic of Congo will sign a decree in the coming days to designate cobalt and other minerals as “strategic” and therefore subject to higher royalties, Mines Minister Martin Kabwelulu said on Saturday.

The change is part of a new mining code, which mining companies including Glencore and Randgold oppose as it axes tax exemptions and hikes royalties and profit taxes.

They have been holding out the hope it might be watered down in further negotiations. The government has not yet formally announced which metals will be classed as strategic in the new code and subject to royalties of 10 percent. Continue Reading →

BHP ditching ‘Billiton’ from its name, trims CEO pay rise – by Cecilia Jamasmie (Mining.com – September 18, 2018)

September 18, 2018 in Australia/New Caledonia/Papua New Guinea Mining, BHP Billiton, Canadian Media Resource Articles, Iron Ore

 

http://www.mining.com/

World’s largest miner BHP Billiton (ASX, NYSE:BHP) (LON:BLT) is rolling out the second phase of a $10 million rebranding campaign launched last year, which may see it become dropping “Billiton” from its name an attempt to emphasize its Australian roots.

Documents released Tuesday to the Australian Securities Exchange, show the miner will ask shareholders at the annual meeting in October to vote to rename the company as BHP Group.

The rebranding, the first since BHP used the late actor Bill Hunter 30 years ago in its “Big Australian” promotion, can also be seen as an effort to regain public trust after the damage to the firm’s image caused by the November 2015 dam burst at its Samarco joint-venture in Brazil. Continue Reading →

Economic nationalism is back in Indonesia as election approaches – by (Straits Times – September 17, 2018)

September 17, 2018 in Asia Mining, International Media Resource Articles, Resource Nationalism

https://www.straitstimes.com/

JAKARTA (BLOOMBERG) – Nothing sells like economic nationalism in Indonesia’s election season. Facing a challenge from a self-proclaimed nationalist, President Joko Widodo has used speeches after his nomination for April’s vote to tout his success in wresting control of the nation’s prized natural resources from foreign companies.

Now the campaign in the lead up to the April 2019 poll is expected to develop into a battle built around economic nationalism. While it may risk a retreat by foreign investors from South-east Asia’s biggest economy, it’s still likely to be a vote winner, according to analysts.

Widodo, known as Jokowi, has carried forward the resource nationalism championed by his predecessor Susilo Bambang Yudhoyono by taking steps to take back assets managed by multinationals such as Freeport-McMoRan Inc., Total SA and Chevron Corp. His government recently ordered all oil producers to sell their crude to state refiner PT Pertamina as it sought to cut imports. Continue Reading →