Twitter

Year: 2012

Ontario to protect 23,000 square kilometers of native land from mining – by Tanya Talaga (Toronto Star – March 6, 2012)

The Toronto Star, has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

In a surprise move, the province has protected 23,181 square kilometres of traditional First Nation land in northern Ontario away from mining firms.

The land in question is near the territory of Kitchenuhmaykoosib Inninuwug (KI) about 500 kilometres north of Thunder Bay. God’s Lake Resources, a junior gold mining firm, has plans for a 3,000-metre drill program in the area.

This is not the first time KI has been in a dispute over land use. Four years ago, KI was embroiled in a long-standing conflict with Platinex, a Canadian exploration firm, who sued Ontario and the Cree First Nation because they said they were prevented from accessing their mining claims.

The province spent $5 million to settle the dispute.

Read more

Native law a growing field – by Drew Hasselback (National Post – March 6, 2012)

The National Post is Canada’s second largest national paper.

One of the newest and most rapidly developing areas of the Canadian legal system is aboriginal law.

If you think about it, it’s downright bizarre that this should be “new.” The documents that underpin the legal relationship between First Nations and the British Crown date back centuries. For whatever reasons, the court rulings that define the current legal relationship are just a few years old.

With so many Canadian mining projects on or near aboriginal territories, this has tremendous legal consequences for mining companies.

The law is simple to state, but hard to implement. First that easy part, stating the law: If you want to develop a mine any place that affects a First Nations community or its land rights, the Crown has a duty to consult with that native community before the project gets a green light.

Read more

Copper miner has golden touch – by Peter Koven (National Post – March 6, 2012)

The National Post is Canada’s second largest national paper.

Ross Beaty is the first to admit it – he is an incredibly lucky guy. Thanks to an epic financial crisis and the hard work of an outside company, Mr. Beaty’s Lumina Copper Corp. has stumbled into the biggest new copper discovery in years. The Taca Taca project in Argentina seems to add more pounds of copper by the week, and Mr. Beaty’s favourite hobby these days is just keeping track of it.

He keeps a giant wall map of Taca Taca in his office. Each day, he receives a report from the property and plots it out on the map. Despite being a veteran of many copper discoveries, the results from this project continue to amaze him.

“Just this morning, today, we had a hole that could add 800 million pounds to the size of this project,” the famed Vancouver mining entrepreneur and founder of Pan American Silver Corp. said in an interview in February. “It’s just ridiculous.”

Read more

China’s growth forecast chills commodity markets – by Richard Blackwell and Nicolas Johnson (Globe and Mail – March 6, 2012)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

The prospect of slower growth in China threw a scare into commodity markets on Monday, raising worries about the sustainability of Asia’s voracious demand for a host of natural resources.

Commodity prices slumped and stocks in the sector retreated sharply after China lowered its gross domestic product growth target for the year to 7.5 per cent from 8, extending a trend of slowing expansion. Last year the economy grew by 9.2 per cent, down from 10.3 in 2010.

The new GDP target, if hit, would be the first dip below 8 per cent since 2004, a significant change for the world’s second-largest economy. China is a huge buyer of raw materials – its demand takes up more than 40 per cent of the world’s copper, zinc, aluminum and nickel – so any slowdown in consumption can send prices tumbling in those commodities and many others.

The S&P/TSX capped metals and mining index sank 4.4 per cent Monday. Copper prices fell about 1 per cent, while gold was down $5.90 (U.S.) an ounce to $1,703.90.

Read more

Honourable Joe Oliver, P.C., M.P. Canadian Minister of Natural Resources PDAC Speech – (March 5, 2012 – Toronto, Canada)

(L to R)Honourable Joe Oliver, P.C., M.P. federal Minister of Natural Resources, Ross Gallinger, Executive Director, Prospectors and Developers Association of Canada (PDAC)

Please check against delivery

Introduction 

Thanks very much, Scott (Scott Jobin-Bevans, President of PDAC), and thanks to the Prospectors and Developers Association of Canada for the opportunity to be part of this great event. 

I also want to thank Alex Jacobs, elder and member of the Ojibway First Nation of Whitefish Lake, for being here. 

It is a pleasure to be here, and to welcome all of our visitors to Toronto and to Canada. 

I have to congratulate P-DAC for putting together yet another outstanding program. When P-DAC says this is “where the world’s mineral industry meets,” it’s not exaggerating.

P-DAC is the premier event of its kind in the world. The 2011 convention attracted over 1,000 exhibitors and nearly 28,000 attendees, including 1,500 students and 7,000 international delegates from 120 countries.

Honourable Joe Oliver, P.C., M.P. federal Minister of Natural Resources tours PDAC convention

 

Read more

Honourable Rick Bartolucci: Minister of Northern Development, Mines Official Opening Ontario Pavilion (PDAC) Speech – (Toronto – March 5, 2012)

 

(L to R) Garry Clark, Executive Director of the Ontario Prospectors Association; Honourable Rick Bartolucci, Minister of Northern Development, Mines; Chris Hodgson, President of Ontario Mining Association; Bill Mauro, Parliamentary Assistant to the Minister of Northern Development and Mines

Metro Convention Centre Toronto

CHECK AGAINST DELIVERY

Good afternoon, everyone.

I’d like to begin by thanking Garry Clark, Executive Director of the Ontario Prospectors Association and Chris Hodgson, President of the Ontario Mining Association for joining me here today.

I welcome this opportunity to officially open the Ontario Pavillion and to highlight or, to be blunt, brag  to the international mining community, about the many accomplishments and strengths of Ontario as a world leader in mining.

I’ve had the opportunity to discuss mineral and mining development with Garry and Chris on many occasions.  Their insights are invaluable and, when it comes to achieving the ultimate goal of sustainable mineral development, I believe we are all “on side.”

I would also like welcome Mayor Marianne Matichuk of Greater Sudbury, Mayor Keith Hobbs of Thunder Bay, Mayor Tom Laughren of Timmins, and Mayor Al MacDonald of North Bay, who are in attendance today.

Honourable Rick Bartolucci, Minister of Northern Development, Mines; Marianne Matichuk, City of Greater Sudbury Mayor

Read more

Huge [Ontario] land withdrawal catches KI off guard – by Shawn Bell (Wawatay News – March 5, 2012)

This article came from Wawatay News: http://www.wawataynews.ca/

The Ontario government says its recent land withdrawal near Kitchenuhmaykoosib Inninuwug (KI) will help avoid future disagreements like the ongoing conflict between God’s Lake Resources and KI.
 
The Ministry of Northern Development and Mines announced Mar. 4 that it has withdrawn 23,181 square kilometers “in the vicinity of KI” from prospecting and mine claim staking.
 
But KI Chief Donny Morris said the land withdrawal caught his community off guard, considering that negotiations between the First Nation and Ontario over land claims broke down months ago.

Read more

Ontario Government move surprises KI – by Carl Clutchey (Thunder Bay Chronicle-Journal – March 6, 2012)

The Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Kitchenuhmaykoosib Inninuwug First Nation Chief Donny Morris says his community needs time to ponder the province’s move to make a huge tract of land north of the reserve off-limits to mining.

 “For something of this size, it’s an historical event,” Morris said Monday from Big Trout Lake, a fly-in community of 1,300 Oji-Cree located 500 kilometres north of Thunder Bay.

 In a surprise announcement Sunday, Northern Development and Mines Minister Rick Bartolucci excluded from mining 23,000 square kilometres of KI traditional territory “to give clarity to the province’s mineral exploration industry and avoid future disagreements over the land in question.”

 In 2009, the Ontario government paid Toronto-based exploration company Platinex $5 million, plus options for future royalties, when the company agreed to stop exploring south of the KI community.

Read more

NEWS RELEASE: Ring of Fire- Agreement at PDAC 2012

FOR IMMEDIATE RELEASE

Northern Ontario First Nations Sign East-West Corridor Collaborative Agreement in Ring of Fire.

Toronto, Ontario, March 5, 2012: – Four First Nations in Northern Ontario today signed a landmark collaboration agreement to pursue the development and operation of an East-West corridor in the Ring of Fire.

The East-West Corridor Collaborative Agreement was signed between the communities of Webequie, Neskantaga, Eabametoong and Nibinamik at the Aboriginal Forum at the Prospectors and Developers Association of Canada Convention. Other regional communities such as Mishkeegogaman have also joined the collaboration. The First Nations have been working together to formalize a community-driven strategy on regional infrastructure development. The ultimate goal is to establish a joint venture that will operate an infrastructure, transportation and service corridor for potential mining companies in the Ring of Fire.

These four identified are impacted by the potential mining developments in the Ring of fire area, and are committed to working collectively together to capitalize on the potential benefits while mitigating the potential issues.

Read more

Record streak for mining takeovers extends into 2012 [PDAC] – by Nicolas Johnson (Globe and Mail – March 5, 2012)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

The global mining industry’s appetite for deal-making has returned after a record year for mergers gave way to a relatively quiet few months.
 
Glencore International PLC’s $41-billion (U.S.) offer last month to buy out Xstrata PLC has catapulted the value of transactions announced this year to almost a quarter of last year’s $184-billion. While such giant deals are rare, they can trigger moves by competitors.

Mergers and acquisitions will be a major focus as mining companies descend on Toronto this week for the Prospectors and Developers Association of Canada annual conference – a key event for the industry as it faces severe headwinds. Metals producers are desperate to combat rising costs so they can capitalize on the soaring prices of gold, silver and copper.

Read more

Dundee Securities bullish on gold, but so-so on base metals – by Dorothy Kosich (Mineweb.com – March 5, 2012)

www.mineweb.com

Gold will still continue its 11 year bull run in 2012, Dundee Securities forecasts, but the anlysts are “anything but certain” on the outlook for base metals.

RENO (MINEWEB) – Dundee Securities analysts continue to believe that the fundamentals remain in place for higher gold prices.
 
The outlook for base metals this year, however, is “anything but certain,” the analysts cautioned. In their annual report on junior exploration companies, Dundee views gold demand as strong “and higher prices are needed to encourage new supply.”
 
“Good fortune has already smiled on gold in 2012, as the U.S. Federal Reserve’s pledge on January 25 to keep interest rates low through at least 2014 has lifted prices of the yellow metal.”
 
“The prospect of reflation has been, and remains one of our key bullish arguments for commodity prices,” the analysts said.
 
“The notion of quantitative easing in the U.S. as well as pressure on the ECB (European Central Bank) to provide liquidity to banks continues.

Read more

[Northern Ontario] Cities seek share in mine tax revenues – by The Daily Press (Timmins Daily Press – March 5, 2012)

 The Daily Press is the city of Timmins broadsheet newspaper.

Municipal leaders in Northern Ontario seek a better deal when it comes to sharing the tax revenues generated by the mining industry.

A delegation from the Federation of Northern Ontario Municipalities (FONOM) met with Minister of Northern Development and Mines Rick Bartolucci recently. FONOM representatives also met with Yasir Naqvi, parliamentary assistant to the Minister of Finance to discuss key Northern issues at the Ontario Good Roads/Rural Ontario Municipal Association Conference held in Toronto.

FONOM president Al Spacek, mayor of Kapuskasing, and vice-president Tom Laughren, mayor of Timmins, made a presentation on mining revenue sharing.

“We heard the minister saying that it is this government’s priority to keep the province a prime place for mining companies to explore and have a very favourable investment climate,” Spacek said. “He’s willing to work with us, so we will continue to work on this with our municipal counterparts in the Northwest, the Northwestern Ontario Municipal Association, as well as First Nations’ organizations.

Read more

As PDAC opens miners looking forward to better times – by Euan Rocha (Mineweb.com – March 3, 2012)

www.mineweb.com

After a bit of a malaise in the second half or 2011, miners and explorers attending this year’s PDAC in Toronto are seeing positive indicators from U.S. and China boosting sentiment, although capital cost rises are an ongoing worry

TORONTO (Reuters) –  Detour Gold last month sold C$277 million of equity to investors willing to bet on its promising gold project – a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlier.
 
Detour’s success in raising funds is one of many small signs that the malaise that gripped miners, explorers and investors in late 2011 is easing. A brighter economic outlook has brought a ray of optimism back to the global mining sector, which gathers next week in Toronto for its biggest convention of the year.
 
While stresses still weigh heavily on the world financial system, a batch of decent U.S. economic data and easing concerns about a slowdown in China have breathed fresh life into mining stocks that tumbled last year.

Read more

NEWS RELEASE: Ontario Addresses Mineral Exploration Concerns [KI-God’s Lake Resources conflict]

March 4, 2012 10:00 AM

McGuinty Government Takes Steps to Address Mineral Exploration Impasse

Ontario has withdrawn lands in the vicinity of Kitchenuhmaykoosib Inninuwug (KI) from prospecting and mining claim staking to give clarity to the province’s mineral exploration industry and avoid future disagreements over the land in question.

KI asserts jurisdiction over the land and has asked for a moratorium on mineral exploration and development. The Ontario Government has made several attempts to facilitate communication between KI and God’s Lake Resources (GLR), a junior mineral exploration company that holds a mining lease and mining claims in the vicinity of KI, north of Red Lake in Northwestern Ontario. The company’s existing mining lease and mining claims are not affected by the withdrawal.

The government remains committed to continuing discussions with both parties.

Read more

Optimism for commodities wanes only slightly – by Peter Koven (National Post – March 5, 2012)

The National Post is Canada’s second largest national paper.

The operating environment might be rough, but the global mining industry remains optimistic that the commodity boom is going to run for years to come.

The annual Prospectors and Developers Association of Canada (PDAC) conference, the industry’s largest event, began Sunday in Toronto with a commodity outlook. A crowd of 28,000 to 30,000 people is expected to attend this year, the most ever.

The conference, which serves as a barometer for the mining industry, comes during a challenging period for most companies.

Producers are facing enormous cost escalation at their operations and development projects, while junior companies (which dominate the conference) are still struggling to raise money.

Read more