Abandoned Canadian silver mines could boom again as battery demand prompts gold rush in cobalt – by Peter Armstrong (CBC News Business – November 15, 2018)

https://www.cbc.ca/news/business/

Cobalt, Ont., could could be sitting on a gold mine — of cobalt — to help power electric cars, phones

The flooded bottom of an abandoned silver mine is an unlikely source of hope. But down there in the flickering light, a once worthless metal known as cobalt has sat idle for decades. Now it’s one of the most sought after metals in the world and that has many in this town in northern Ontario dreaming of boom times once again.

A century ago, prospectors came to Cobalt, Ont., in search of silver. They found it, and the town boomed. Amid all the silver, miners also found cobalt. So much that they named the town after it. Back then though, it was a mere indicator, a sign that something of actual value was nearby.

Now, all that ignored and discarded cobalt is the town’s best hope. “The potential here is huge,” says Frank Basa, chief executive officer of Canada Cobalt Works. Cobalt the metal has had a spectacular run over the past few years. And now Cobalt the town is poised to cash in. Continue Reading →

Searching for ‘black diamonds’ in the treacherous conditions of India’s ‘capital of coal’ – by Kenneth Dickerman and Sebastian Sardi (Washington Post – November 14, 2018)

https://www.washingtonpost.com/

In 2008, Swedish photographer Sebastian Sardi read an article about how mining-related deaths and injuries are often covered up by the various authorities who oversee such operations. Sardi was 25 at the time and had turned to photography three years earlier.

He had yet to pursue formal training as a photographer, but his interest was piqued, and he began photographing mines. Eventually, Sardi traveled to northern India’s Jharkhand state to photograph people working in Dhanbad, which many have dubbed the “capital of coal.” The resulting photos formed Sardi’s project “Black Diamond.”

When Sardi arrived in Dhanbad, he discovered people whose lives revolve around extracting coal. He photographed the men, women and even children living and working in the toughest of conditions. Sardi, in his upcoming book, describes the scene he came upon: Continue Reading →

Chilean regulators reject Albemarle’s plans to boost lithium output – by Dave Sherwood (Reuters U.K. – November 13, 2018)

https://uk.reuters.com/

SANTIAGO (Reuters) – Chilean environmental regulators have rejected plans by Albemarle Corp (ALB.N), the world’s top lithium producer, to expand output from the Salar de Atacama salt flat, according to filings with Chile’s Environmental Assessment Service (SEA).

SEA said in a resolution on Monday that Albemarle’s environmental impact statement, which included plans to build a new plant to produce 42,500 tonnes of lithium carbonate in northern Chile, lacked key information to gauge the project’s impact, prompting an “early termination” of its review.

“The applicant [Albemarle] does not present the details necessary to rule out significant adverse impacts on the quantity and quality of renewable natural resources, including the soil, water and air,” the regulator concluded in the Nov. 12 resolution, which was first reported by Reuters. Continue Reading →

Coalition forms to reclaim abandoned coal mine lands across Appalachia and rebirth them – by Jake Flatley (West Virginia Metro News – November 14, 2018)

http://wvmetronews.com/

BOONE COUNTY, W.Va. — In an effort to clean up abandoned coal mine lands and give them new life, a coalition of groups in the Appalachian region has formed.

20 former coal sites stretching across four states were mentioned in the report authored by the Reclaiming Appalachia Coalition, “Many Voices, Many Solutions: Innovative Mine Reclamation in Central Appalachia.” A highlight in the report of the sites is a mixed agriculture and renewable energy project proposed on a former strip mine in Boone County.

“We are trying to find ways to not necessarily reinvent the wheel but take what we see as best practices in different areas that would be applicable in different sites such as abandon land mine sites,” Jacob Hannah, Conservation Coordinator with Coalfield Development Corporation, said. Continue Reading →

Electric Vehicle Revolution Goes Underground With Mine Truck – by Niclas Rolander (Bloomberg News – November 14, 2018)

https://www.bloomberg.com/

Electric vehicles are reaching global markets far and wide — and deep. Swedish mining equipment maker Epiroc AB now aims to electrify all its underground machines within five years.

The manufacturer on Wednesday launched a new range, including what it says is the largest battery-powered vehicle for mining below the Earth’s surface: a 42 ton-capacity truck that can haul blasted rock through narrow tunnels. It’s part of the company’s latest series of mobile excavators, including drill rigs and loaders, designed to cut emissions and lower energy costs for miners.

Reducing the use of diesel fuel could have significant cost benefits for the industry: as much as 40 percent of an underground mine’s energy outlay is spent on powering gigantic ventilation systems to remove pollutants from tunnels. The push for electrified mining got a further boost last month from an industry lobby, the International Council on Mining and Metals, which plans to minimize the impact of underground diesel exhaust by 2025. Continue Reading →

From fugitive to governor, a Peruvian mining foe rises again – by Marco Aquino (Reuters U.S. – November 14, 2018)

https://www.reuters.com/

LIMA (Reuters) – For most of this year, Walter Aduviri, the governor-elect of Peru’s Andean region of Puno, had been a fugitive. The indigenous activist, 38, went into hiding after losing a sedition trial last year over deadly protests he led against Canadian mining company Bear Creek in 2011.

All that changed in October. His 7-year sentence was annulled and he was elected governor of Puno, home to deep deposits of gold, silver, uranium and lithium that miners plan to excavate through $2 billion of proposed projects.

In his first interview with foreign media since his victory, Aduviri – who will take office in January – said he would continue to oppose mining that lacks clear benefits to communities in Puno, one of Peru’s poorest and most lawless regions, near the border with Bolivia. Continue Reading →

‘They were just tired’: Embattled Tahoe Resources sells out to create world’s biggest silver miner – by Garbriel Friedman (Financial Post – November 15, 2018)

https://business.financialpost.com/

In a deal that highlights the importance of social licence in mining, Vancouver’s Pan American Silver Corp. announced Wednesday it will purchase Tahoe Resources Inc., seizing the moment to buy a company whose stock has been in freefall amid ongoing controversies in the communities in which it operates.

Under the terms of the US$1.1 billion deal, Pan American will pay up to US$275 million in cash and an additional US$800 million in shares. That values Tahoe shares at US$3.40 — a 35 per cent premium on its 20-day volume-weighted average price — or 0.2403 of a Pan American share per Tahoe share.

Pan American said in a press release that the acquisition would create the largest silver company in the world, and pointed to its own track record of building mines and operating in Latin America — an area where Tahoe has been beset by violent conflict and legal challenges. Continue Reading →

Former Timmins mayor wanted to buy the Ring of Fire – by Maija Hoggett (Northern Ontario Business – November 15, 2018)

https://www.northernontariobusiness.com/

Steve Black investigated city acquiring Far North deposits after Cliffs departure

In his first week in office, Timmins Mayor Steve Black wanted to buy a mine. Sharing the story of how he wanted to purchase the Ring of Fire is one of the memories he shared about his time in office as he chaired his final council meeting Nov. 13.

Being elected as a councillor in 2010 was a life-changing moment for Black. When the next election rolled around, he won the mayor’s seat. Back in 2014 in his first week on the job as mayor, he recalled going to the CAO and announcing his desire to buy a mine.

At the time, former owner Cliffs Natural Resources was looking to pull out of the project. Knowing the importance of having what is now Noront come to Timmins, Black wanted the city to have control of its destiny. Continue Reading →

Ni & Co CONFERENCE: Nine key takeaways from Xiamen – by Charlotte Radford, Susan Zou and Violet Li (Metal Bulletin – November 12, 2018)

https://www.metalbulletin.com/

The spotlight was in Xiamen last week when market participants gathered to discuss hot topics in the cobalt and nickel markets, including higher cobalt prices and their impact on the market in addition to new trends for the cobalt industry.

High prices do not hurt the overall use of cobalt in consumer electronics

Cobalt prices hit a near 10-year high in April, but the blue metal’s high prices will not lead to many cobalt substitutions in consumer electronics, according to battery manufacturer ATL’s procurement director, Xu Shihui.

Cobalt demand from the consumer electronics industry will continue to grow due to new trends, including the intact adoption of lithium-cobalt-oxide (LCO) batteries in laptops and smart phones. Continue Reading →

Teck Resources back in black and back on top-100 list – by Nelson Bennett (Business In Vancouver – November 14, 2018)

https://biv.com/

In 2016, Teck Resources (TSX:TECK.B; NYSE:TECK), B.C.’s largest mining company, did not even make Business in Vancouver’s Top 100 Most Profitable Companies List, due to a commodities price crash that resulted in the company recording a $3.6 billion impairment and posting a $2.5 billion loss in 2015.

Two years later, it’s No. 1 – a position it last held in 2012, at the end of a commodities supercycle – based on its 2017 net profits. Teck ended 2017 with record revenue of $12 billion and record cash flow of $5.1 billion. According to Teck’s annual audited financial statements for 2017, the company posted $2.5 billion net profit compared with 2016’s $1 billion.

While that jump back onto the top spot has something to do with a recovery in commodity prices, it also has a lot to do with the way the company is structured and the way it positions itself. Continue Reading →

Sherritt International sees jump in nickel production and profit – by Amanda Stutt (Mining.com – November 12, 2018)

http://www.mining.com/

Sherritt International, (TSE: S) has released its 2018 Q3 report, and the numbers are up, thanks to the success of the company’s Moa joint venture (JV) with the Cuban Government.

Sherritt specializes in mining and refining of nickel and cobalt from lateritic ores, and the company also has projects and operations in Canada and Madagascar.

Pathe says the jump in numbers was largely due to higher realized nickel and cobalt prices. Cobalt is mined as a by-product of nickel, and acts as a stabilizing component in the lithium-ion battery cell structure. The average-reference price for nickel improved 26% from last year to $6.01/lb while the average-reference price for cobalt increased 22% to reach $35.21/lb. Continue Reading →

Mine Tales: Del Pasco Mine brought fortune seekers in the 1870s – by William Ascarza (Arizona Daily Star – November 12, 2018)

https://tucson.com/

The Bradshaw Mountains in Central Arizona near Prescott produced a series of big strikes in the 1870s and ’80s. The earliest to be developed in the range was the Del Pasco Mine.

It was discovered by Jackson McCrackin, James Fine, Charley Taylor and T.G. Hogle on July 4, 1870. Within a month, two arrastras were employed to extract gold with an initial processing of 112 ounces totaling $1,904. The former placer mine was further developed to access the Del Pasco vein (running 2 to 3 feet in width) which, later heavily worked, necessitated the establishment of a tunnel 1,000 feet in length and stoped to the surface.

Located in the Pine Grove District of Yavapai County on the rugged southern slopes of Tower Mountain overlooking Crown King, the Del Pasco vein, between 6,300 feet and 7,300 feet, strikes north-northeast. The local geology is diorite intruded by rhyolite porphyry and a primary quartz vein with galena, pyrite and sphalerite. Continue Reading →

‘Incomparable’ pink diamond smashes record at Geneva auction (Channel News Asia – November 14, 2018)

https://www.channelnewsasia.com/

GENEVA: An exceptionally rare 19-carat pink diamond fetched US$50 million (€44 million) at auction in Geneva on Tuesday (Nov 13), Christie’s said, setting a new per carat record for a stone of its kind.

The Pink Legacy, which once belonged to the Oppenheimer family which for decades ran the De Beers diamond mining company, was snapped up by American luxury brand Harry Wilson, part of the Swiss Swatch group.

“US$2.6 million per carat. That is a world record per carat for a pink diamond,” said Francois Curiel, head of Christie’s in Europe. “This stone is for me the Leonardo da Vinci of diamonds,” he added. Continue Reading →

NEWS RELEASE: VALE DONATES $100,000 TO PLACE DES ARTS (November 12, 2018)

(Sudbury, November 12, 2018) In its capital fundraising campaign, Share Our Sense of Place, Place des Arts has received a generous donation of $100,000 from Vale. The company made the announcement at the Théâtre du Nouvel-Ontario’s annual benefit concert on Friday, November 9, 2018.

“Vale is proud to support Place des Arts and the future role it will play as a cultural hub in the City of Greater Sudbury and Northern Ontario,” said Ricus Grimbeek, Chief Operating Officer for Vale’s North Atlantic Operations and Asian Refineries. “We look forward to the grand opening and celebrating this centre for the arts with everyone in our community for generations to come.”

Place des Arts will be Northern Ontario’s first multidisciplinary arts and culture centre. It will be home to eight cultural organizations and is expected to host 850 events in its first year and generate 50,000 admissions. Phase 1 of construction began on October 29th and Phase 2 will follow in 2019. The estimated economic effects of construction are $18.7 million, with the creation of 180 jobs. Continue Reading →

Vancouver’s Pan American Silver to acquire struggling Tahoe Resources in US$1.1-billion deal – by Niall McGee (Globe and Mail – November 15, 2018)

https://www.theglobeandmail.com/

Vancouver’s Pan American Silver Corp. is buying U.S. competitor Tahoe Resources Inc. in an unusually structured US$1.1-billion deal aimed at resurrecting struggling Tahoe.

Nevada-based Tahoe’s shares soared nearly 50 per cent after the deal was announced Wednesday. The company’s shares had been trading near an all-time low and it has been under severe selling pressure from shareholders since last year when it was forced to stop production at its flagship mine in Guatemala after a legal setback.

In July, 2017, the Supreme Court of Guatemala suspended Tahoe’s licence at its Escobal silver mine after ruling local Indigenous populations weren’t adequately consulted before the licence was issued. Continue Reading →