What could Newmont Mining’s $14b merger with Goldcorp mean for Australian gold mines? – by Matt Brann (Australian Broadcasting Corporation – April 24, 2019)

April 24, 2019 in Australia/New Caledonia/Papua New Guinea Mining, Gold and Silver, International Media Resource Articles, Newmont

 

https://www.abc.net.au/

Two of the world’s biggest gold mining companies have merged in a $US10 billion ($14.2 billion) deal, which some analysts are tipping will have ramifications for gold mines in Australia.

Newmont Mining has finalised its merger with the Canadian based Goldcorp to become, it said, the world’s leading gold business with an unmatched portfolio of assets, prospects and talent. In a video statement from the company now known as Newmont Goldcorp, it said, “we’re not looking to be the biggest, we’re determined to be the best”.

Newmont Goldcorp is on track to become the world’s biggest gold producer, but the ABC understands the title is currently held by Barrick-Randgold, another mega gold-mining merger which occurred earlier this year. Continue Reading →

COLUMN-Australia’s pro-coal lobby should heed South Korea warning – by Clyde Russell (Reuters India – April 24, 2019)

April 24, 2019 in Asia Mining, Australia/New Caledonia/Papua New Guinea Mining, Climate Change, Carbon Taxes and ENGOs, Coal, International Media Resource Articles

https://in.reuters.com/

LAUNCESTON, Australia, April 24 (Reuters) – A change in South Korea’s energy policy should have absolutely no bearing on the current Australian election campaign, but it should, as it’s a stark warning to politicians who still see a rosy future for coal mines and exports.

Australia is the world’s largest exporter of coal and South Korea has been a reliable customer for decades, taking 43.4 million tonnes of the polluting fuel from Australia in 2018, according to vessel-tracking data compiled by Refinitiv.

However, South Korea is now shifting its energy policy to effectively punish coal and promote both renewable energies and the use of cleaner-burning liquefied natural gas (LNG). Continue Reading →

Exclusive: Gold worth billions smuggled out of Africa – by David Lewis, Ryan McNeill and Zandi Shabalala (Reuters Canada – April 24, 2019)

April 24, 2019 in Africa Mining, Canadian Media Resource Articles, Gold and Silver

https://ca.reuters.com/

NAIROBI, (Reuters) – Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found.

Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity – up from 67 tonnes in 2006.

Much of the gold was not recorded in the exports of African states. Five trade economists interviewed by Reuters said this indicates large amounts of gold are leaving Africa with no taxes being paid to the states that produce them. Continue Reading →

‘The gold was never there’: A miner’s reserves evaporate amid battle with former CEO – by Gabriel Friedman (Financial Post – April 24, 2019)

April 24, 2019 in Canada Mining, Canadian Media Resource Articles, Gold and Silver, Latin America Mining

https://business.financialpost.com/

Even in an industry known to be high-risk, the sudden evaporation of more than a million ounces of gold raised eyebrows

When geologists speak about how deposits of precious metal form in the earth, they reference changes that can take place over hundreds of millions of years.

This spring, investors in Toronto-based Guyana Goldfields Inc. experienced geologic time at a significantly faster pace: One morning in March, they held shares in a company sitting on nearly four million ounces of contained gold at its Aurora mine; and, by the end of the day, that number had declined by about 1.5 million ounces.

The sudden evaporation of more than one million ounces of contained gold from the company’s “proven and probable mineral reserve estimate” garnered immediate attention, and the company’s share price has declined 30 per cent since then. Continue Reading →

Citi Says U.S. and China Will Nail Deal, Aiding Commodities (Bloomberg News – April 23, 2019)

April 24, 2019 in Commodity Super-Cycle and Decline, International Media Resource Articles

https://www.bloomberg.com/

The outlook for commodities is bullish, according to Citigroup Inc., which expects raw materials to be supported by a confluence of positive factors including the agreement of a trade deal between Washington and Beijing, improved demand from China, and a weaker dollar.

The bank’s base case is that the U.S. and China will agree to end their protracted trade fight by end-June, paving the way for tariffs to be lifted, analysts including Ed Morse said in a report. A deal between the two economies is now “on course” for the end of the second quarter, the bank said.

Raw materials have advanced in 2019 aided by gains in energy and metals, with the latest leg up this week driven by the U.S. decision not to extend sanctions waivers for buyers of Iranian crude. Continue Reading →

Paris to decide fate of Russia-Canada gold mine in French Guiana – by Cecilia Jamasmie (Mining.com – April 22, 2019)

April 24, 2019 in Canada Mining, Canadian Media Resource Articles, Europe Mining, Gold and Silver, Latin America Mining

http://www.mining.com/

France’s environment minister, François de Rugy, is expected to announce in June the government’s official position on a proposed open-pit gold mine and precious metals industry in French Guiana, potentially the department’s largest, and it has locals divided.

The Montagne d’Or gold project, a joint venture between Russian billionaire Alexey Mordashov’s mining company, Nordgold, and Canadian junior Columbus Gold (TSX: CGT), was originally planned over an 800-hectare site between two protected natural reserves.

But after complaints from opponents to the mine, worried mainly about pollution and biodiversity loss, the French government formed a special committee to evaluate in detail the social and economic benefits, as well as the impacts of a gold mining industry in the French department, wedged between Brazil and Suriname. Continue Reading →

Federal carbon tax favours coal-fired plants, could “diminish” renewables investment, new report says – by Jesse Snyder (National Post – April 24, 2019)

April 24, 2019 in Canadian Media Resource Articles, Climate Change, Carbon Taxes and ENGOs, Coal

https://nationalpost.com/

OTTAWA — The federal carbon tax could favour coal-fired power plants over clean sources like wind and solar in its approach to industrial emissions, a new report says, potentially undermining a central aim of the Liberal government’s policy.

Environment Minister Catherine McKenna released a regulatory proposal in December 2018 that provided details on the heavy emitters portion of the carbon tax, including how levies would be applied to electricity generators.

Independent think-tank The C.D. Howe Institute reviewed the proposal and found it would actually give a leg up to higher-intensity emissions like coal and “diminish” investment in renewables, due to a decision to raise a critical threshold on certain producers. Continue Reading →

Netflix is lying about those falling walruses. It’s another ‘tragedy porn’ climate hoax – by Susan J. Crockford (Financial Post – April 24, 2019)

April 24, 2019 in Canadian Media Resource Articles, Climate Change, Carbon Taxes and ENGOs

https://business.financialpost.com/

Opinion: Netflix and the WWF are misleading the public in the name of climate change — just as National Geographic did with the emaciated polar bear

Now that polar bears have failed to die off in response to a sea-ice decline as promised, climate alarmists are looking hard for a new icon. They think they’ve found it in the walrus. And for their purpose, walruses are more useful dead than alive, and best of all splattered against sharp rocks from a great height.

For instance, a now-famous episode of Netflix’s “Our Planet” documentary series, released this month and narrated by veteran BBC broadcaster David Attenborough, features walruses falling from atop a high cliff and bouncing helplessly over rocks to their deaths.

The incident occurs after what’s called a “land haulout,” which is when large herds of walrus females and calves emerge from the water to gather and rest on a beach. The show blames the land haulouts — and the deaths caused by falling from cliffs — squarely on lack of sea ice due to human-caused climate change. Continue Reading →

Dig for gold in Ghana at your own risk, Chinese miners warned after arrests (Ghana Web.com – April 23, 2019)

April 23, 2019 in Africa Mining, Gold and Silver, International Media Resource Articles

https://www.ghanaweb.com/

Chinese citizens who work at gold mines in Ghana will not be protected by their home country if they get snared in a crackdown on illegal mining, China’s Ministry of Foreign Affairs warned after some Chinese nationals were detained for working in the African nation.

Although Ghana allows licensed companies to do small-scale gold mining, “it’s still illegal for foreigners” to work in the sector, “and they will not be protected by Ghanaian laws”, the ministry said on Monday on the Chinese social media app WeChat.

Some Chinese citizens had been detained “in recent days” for working at Ghanaian gold mines illegally, it said, without providing details. Continue Reading →

China slams province for failing to curb polluting industries (Reuters Africa – April 22, 2019)

April 23, 2019 in Aluminium/Bauxite, Asia Mining, International Media Resource Articles, Mining Environmental Accidents, Pollution, Tailing Dams and Abandoned Mines

https://af.reuters.com/

SHANGHAI, April 23 (Reuters) – China’s environment ministry reprimanded provincial officials in Shandong, the country’s biggest aluminium producing province, for failing to comply with policies to cut coal consumption and curb the growth of highly polluting aluminium output.

Shandong has been a key part of China’s efforts to curb pollution in the industrial north, but it has struggled to find cleaner forms of growth.

Seven of the province’s cities were set targets to cut smog over the winter, but only one – Jining – managed to do so. Continue Reading →

GOLD: Keith Barron loans $3 million to Aurania Resources (Northern Miner/Canadian Mining Journal – April 22, 2019)

April 23, 2019 in Canada Mining, Canadian Media Resource Articles, Gold and Silver, Junior Exploration Sector, Latin America Mining

http://www.canadianminingjournal.com/

ECUADOR – Keith Barron, who owns 53% of the outstanding common shares of Aurania Resources, has agreed to loan the company up to $3 million to support exploration at its 100% owned Los Cities gold project.

The chairman and CEO also participated in the company’s rights offering in March that raised $5.25 million. Barron acquired 1.48 million of the 1.95 million shares issued at $2.70 per common share.

The geologist privately co-founded Ecuador gold explorer Aurelian Resources and discovered the Fruta del Norte deposit in 2006. The company was acquired by Kinross Gold in 2008 for $1.2 billion. Continue Reading →

LME to ban metal tainted by child labor or corruption – by Zandi Shabalala (Reuters U.S. – April 23, 2019)

April 23, 2019 in Africa Mining, Cobalt, Critical, Strategic and Rare Earth Minerals and Metals, International Media Resource Articles, Mining Child and Slave Labour – Historical and Current

https://www.reuters.com/

LONDON (Reuters) – The London Metal Exchange (LME) could ban or delist brands that are not responsibly sourced by 2022 under an initiative launched on Tuesday to help root out metal tainted by child labor or corruption.

But the LME, seeking to avoid overly punishing small mining brands to the benefit of larger miners such as Glencore, said it would not single out cobalt and tin for accelerated auditing.

Cobalt, a key ingredient in the batteries that power electric vehicles, is mined by small, artisinal operations mainly in the Democratic Republic of Congo, where supply chains are not strictly monitored. Continue Reading →

Proxy fight intensifies at Guyana Goldfields – by Niall McGee (Globe and Mail – April 23, 2019)

April 23, 2019 in Canada Mining, Canadian Media Resource Articles, Gold and Silver, Latin America Mining

https://www.theglobeandmail.com/

Junior gold company Guyana Goldfields is urging its shareholders to stick with its proposed slate of directors as it seeks to fend off a dissident shareholder group.

In documents filed on Monday detailing its attempts at a turnaround, Toronto-based Guyana said it has “turned the page” with a better mine plan in place, the right people in charge and improved financial controls.

Late last year, Guyana’s share price went into free fall when the company disclosed serious problems with its original mine plan, raising questions about the size and economics of its gold deposit. Continue Reading →

Australians drawn to Iroquois Falls for nickel – by Staff (Northern Ontario Business – April 18, 2019)

April 23, 2019 in Canadian Regional Media and Web Publications, Junior Exploration Sector, Ontario Mining

https://www.northernontariobusiness.com/

Perth explorer has high production hopes in expanding holdings in northeastern Ontario

A Sudbury junior miner has flipped a northeastern Ontario base metal property to an Australian exploration outfit.

Transition Metals announced April 15 that it has completed the sale of the Dundonald nickel-copper-near Iroquois Falls to Legendary Ore Mining. Legendary is a subsidiary of VaniCom of Perth, Western Australia. The two parties signed a binding letter of intent last August.

The terms of the sale involved an initial payment of $50,000 to Transition Metals at the signing the letter of intent followed by a second payment of $100,000 upon closing the definitive purchase agreement. Continue Reading →

New Coal Plants Are Just Too Expensive in China, Analysis Says (Bloomberg News – April 22, 2019)

April 23, 2019 in Asia Mining, Coal, International Media Resource Articles

https://www.bloomberg.com/

China’s green light to build more coal-fired power plants probably won’t usher in a flurry of new construction as most policies and investments in the top energy user will tilt toward renewable sources.

More than 10 regions will be freed of their overcapacity tag in 2022, clearing a hurdle for them to resume building coal-fired plants. But many of the nation’s largest power companies are under a state drive to develop more clean energy projects, according to Morningstar Inc., which expects growth in coal-fired capacity to lag other sources.

“The profitability of coal-fired power plants is so low, there’s no incentive for them to build more,” said Morningstar analyst Jennifer Song. “China as a whole has set consumption targets for renewable energy sources. We can see those large power groups also have quotas to build more renewable projects.” Continue Reading →