2012 – Page 157 – Republic of Mining

NEWS RELEASE: McEwen Mining: US Gold and Minera Andes Business Combination Completed

February 3, 2012

TORONTO, ONTARIO–(Marketwire – Jan. 24, 2012) – McEwen Mining Inc. (“McEwen Mining”) is pleased to announce that the previously announced business combination (the “Combination”), pursuant to which US Gold Corporation acquired Minera Andes Inc. and was renamed McEwen Mining, has been successfully completed and closed today. The Combination was carried out by way of a plan of arrangement under the Business Corporations Act (Alberta), which was approved by the shareholders of both US Gold and Minera Andes on January 19, 2012 and the Court of Queen’s Bench of Alberta on January 20, 2012.

Shares of McEwen Mining will commence trading on the NYSE and the TSX, subject to final exchange approvals, under the symbol “MUX” on Friday January 27, 2012. Holders of Minera Andes shares will receive 0.45 of an exchangeable share of McEwen Mining – Minera Andes Acquisition Corp. for each one (1) Minera Andes share held. These exchangeable shares of McEwen Mining – Minera Andes Acquisition Corp., will also start trading on the TSX on January 27, 2012 under the symbol “MAQ”. The exchangeable shares of McEwen Mining – Minera Andes Acquisition Corp. are convertible on a one-for-one basis at any time into shares of McEwen Mining. McEwen Mining will have an aggregate of 267,084,203 shares of common stock outstanding and issuable upon the exchange of exchangeable shares.

Congolese citizens will appeal to Supreme Court in suit against Canadian mining – by Sidhartha Banerjee (Winnipeg Free Press – February 2, 2012)

February 2, 2012

This ariticle came from: http://www.winnipegfreepress.com/

The Canadian Press

MONTREAL – A coalition of human-rights groups say they will make a last-ditch plea to the Supreme Court of Canada in an effort to sue a Canadian mining company on behalf of the victims of a massacre in Congo.

The Canadian Association Against Impunity, a coalition of human-rights groups and non-governmental organizations acting on behalf of Congolese citizens, says it’s imperative that those people have access to justice in Canada. Quebec’s Court of Appeal last week overturned a lower-court ruling from April 2011 that had paved the way for a civil suit to be heard in Canada.

In their claim, the groups had argued that Anvil Mining Limited (TSX:AVM) provided logistical support to the Congolese military as it moved to crush a rebel uprising in 2004.

Another death at Vale’s Sudbury mines – Editorial (Northern Miner – February 6-12, 2012)

February 2, 2012

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

The month of January closed out with Vale having temporarily halted all underground mining at its five nickel mines in Sudbury, Ont., following the death of a miner at the Coleman mine on Jan. 29.

Miner Stephen Perry, 47, was working on the 4,215-ft. level when he was struck by “what appears to be a displacement of material or rock from the development face in the main orebody,” commented Kelly Strong, Vale’s North Atlantic vice-president of mining and milling, in an early Jan. 30 news conference.

Perry was brought to surface where he was pronounced dead by medical personnel, said Strong, who extended his condolences to the miner’s family and friends. He had been with the company for 16 years. This is the fourth fatality in seven months at Vale’s Canadian operations, and the third death at the company’s Sudbury mines.

China enhances position as world No. 1 gold producer – but where’s it all going? – by Lawrence Williams (Mineweb.com – February 1, 2012)

February 2, 2012

This article is from: www.mineweb.com

China’s gold output rose again in 2011 confirming its position as global No. 1 producer, but is it surreptitiously taking all its domestic production into its reserves?

LONDON – As had been expected, China, already the world No. 1 gold producer, saw its output rise again this year. The country produced a record 360.96 tonnes of the yellow metal in 2011, a 5.9% increase, making it the world’s top gold producer for a fifth consecutive year, according to the China Gold Association.

Meanwhile, the country has been importing record amounts of gold as well with the volumes coming in through Hong Kong, which are officially reported figures, climbing to over 100 tonnes in November – and by all accounts gold purchasing in China has been booming since then, so imports are likely to have remained at this kind of level in December and January as well. Estimates have suggested that China’s total gold imports for 2011 will have been some 490 tonnes – double that of 2010, but this may well be an under-estimate, possibly a substantial one.

Xstrata confirms Glencore merger of equals talks – by Elisabeth Behrmann and Jesse Riseborough (Mineweb.com – February 2, 2012)

February 2, 2012

This article is from: www.mineweb.com

In a statement issued this morning, and subsequently confirmed by Glencore, Xstrata said the commodities trader has made an approach about an all-share offer for “a merger of equals.”

(Bloomberg) – Glencore International Plc, the world’s largest publicly traded commodities supplier, is in talks to buy the shares in Xstrata Plc that it doesn’t already own to add coal, copper and nickel mines from Africa to Asia.

Glencore made an approach about an all-share offer for “a merger of equals,” Zug, Switzerland-based Xstrata said today in a statement to the London stock exchange. Glencore holds 34 percent and the rest of the company is valued at 21.9 billion pounds ($35 billion) based on yesterday’s closing price. Glencore said in a statement there’s no certainty of an offer.

Joining Xstrata with Glencore, located two miles away in Baar, would reunite two groups that separated a decade ago when Xstrata bought Glencore’s Australian and South African coal mines for $2.5 billion and went public in London. The combined company may be valued at about 52 billion pounds after excluding Glencore’s stake in Xstrata.

Vale, [Sudbury] union agree to work together – by Carol Mulligan (Sudbury Star – February 2, 2012)

February 2, 2012

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

United Steelworkers Local 6500 and Vale Ltd. have agreed to conduct a joint investigation into the death of veteran miner Stephen Perry at Coleman Mine on Sunday.

Six people — three from the company and three from the union — will meet Thursday to begin work on the investigation into the fatal accident.

The shutdown at Vale’s five Sudbury mines will continue so the focus remains squarely on safety, and not on production, said Angie Robson. Local 6500 president Rick Bertrand said he was happy the two sides agreed to work together.

“Hopefully, things will be much better here on in,” in terms of both safety and labour relations, said Bertrand.

Mine production was halted Sunday after Perry, 47, was killed while operating a loader at the 4,215-foot level of the Coleman shaft of the main order body at mine in Levack.

Co-operative [industry/First Nations]approach to mining venture – (Timmins Daily Press – February 2, 2012)

February 2, 2012

The Daily Press is the city of Timmins broadsheet newspaper.

Company, two First Nations sign memorandum of understanding

An agreement has been reached between a mining firm and two First Nations over mineral rights to about 60,000 hectares of land. Ring of Fire Resources Inc. has entered into a memorandum of understanding (MOU) with the Matachewan and Mattagami First Nations with respect to its mineral exploration activities in 10 townships just north of Timmins.

The memorandum sets out the provisions of a co-operative approach to developing the Ring of Fire Inc. interests within the territorial homelands of the two First Nations. The agreement provides for business and employment opportunities that encourage First Nation participation in the mining industry.

The parties have also committed to negotiating an Impact and Benefits Agreement should the project warrant a mining operation.

Hemlo Mines creates opportunities for First Nations students

February 1, 2012

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario Mining Association member Barrick Hemlo Mines is providing opportunities for residents of two nearby First Nations, Pic River and Pic Mobert, in Northwestern Ontario. In 2009, the original 1992 agreement between Hemlo and these First Nations was broadened. It creates a framework to train First Nations people in skills for present and future mining employment, to support business development and to include involvement in environmental stewardship programs.

“The agreement helps build capacity in First Nation communities to ensure that they benefit from mining,” said Roger Souckey, Superintendent of Employee Relations at Hemlo Mines. “About 50 First Nations people work at Hemlo Mines, or about 10% of the workforce. The mine is a benefit to the area.”

The Hemlo Operations of Barrick include the Williams and David Bell gold mines. The mines purchased goods and services worth $35 million in Ontario in 2010 and $147 million in Canada. In 2010, Hemlo Mines paid taxes and royalties of $8 million and contributed a further $800,000 in a variety of donations to local communities.

Joint [Vale/union] investigation preferable in accidents – Editorial by Brian MacLeod (Sudbury Star – February 1, 2012)

February 1, 2012

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

The tragedy of death underground has revisited Sudbury in a manner that leaves all of us asking how this could happen again at a company that has more than 100 years of experience in mining.

Stephen Perry, 47, a 16-year miner at Vale, died at the 4,215-foot level at Coleman Mine in Levack on Sunday after he was struck by loose rock while he was working at a development heading.

The incident happened just days after Vale officials presented their findings about the deaths in June of two miners, Jason Chenier and Jordan Fram, after they were overcome by 350 tonnes of muck and sand while they were working at the 3,000-foot level of Stobie Mine.

Vale has suspended all five of its underground mining operations, affecting more than 1,500 workers, in order to come up with plans to ensure a safe working environment.

Mass for killed [Vale Sudbury] miner set for Friday – by Carol Mulligan (Sudbury Star – February 1, 2012)

February 1, 2012

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

A memorial mass will be held Friday at 10 a.m. at Christ the King Church for Stephen Perry, who was killed Sunday afternoon on the job at Coleman Mine in Levack.

Perry was from Corner Brook, Nfld., but had worked with Inco and Vale for 16 years. Vale vice-president Kelly Strong called Perry a skilled and experienced miner who was respected by his colleagues. Family in Newfoundland said he was a kind and giving man, who would do anything to help someone in need.

Perry is survived by a daughter and several siblings.

Vale suspended operations at all five Sudbury mines after Perry was killed working on a piece of machinery to load blasting equipment to open up the 4,215-foot heading off the Coleman shaft in the main ore body.

The Ontario Ministry of Labour and Greater Sudbury Police Service have been at the site beginning their investigations. Vale and the union representing Perry, United Steelworkers Local 6500, will also conduct investigations.

Why Republican voters are up in arms over Keystone XL – by David Weigel (National Post – February 1, 2012)

February 1, 2012

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

THE VILLAGES, Fla. — Newt Gingrich’s schedule, 72 hours before the Florida primary, went like this: church, parking lot of a retirement mega-city, church. His only speech of the day is here, in a grove of tidy homes and souped-up golf carts. As the Villagers stand, or sit in their chairs, or stay in their carts to sip Arizona Iced Tea or frappes, Gingrich explains why Barack Obama is failing them.

“He recently vetoed the Keystone pipeline,” says Gingrich. Boo! Boo! Boo!

“Now, think about it! He did it to appease left-wing environmental extremists in San Francisco.” “Ugh,” mutters a retiree near the press riser. Gingrich laid on the scares with a trowel; an ugh was the least he could do.

“Think about what would come of this,” Gingrich continues. “Here was an opportunity to have oil come from Canada through the United States, to the largest petrochemical complex in the world, in Houston.

What is holding Northern Ontario back? – by David Robinson (Northern Ontario Business – February, 2012)

April 5, 2015February 1, 2012

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.

Dave Robinson is an economist with the Institute for Northern Ontario Research and Development at Laurentian University. drobinson@laurentian.ca

Premier Brad Wall is proud of Saskatchewan. The province is booming. Migration from other provinces is up 40 per cent —people are streaming in from places like Ontario, Quebec, and Alberta. The province is even planning a jobs mission to Ireland to recruit workers.

But here is a question. Is our premier proud of Northern Ontario? Is anyone proud? In fact, is there anyone to be proud?

Saskatchewan, with about 33 per cent more people than Northern Ontario, and with only 80 per cent of the area of Northern Ontario, is managed by 58 Members of the Legislative Assembly (MLAs). In efficient Northern Ontario, we make do with 10 MPPs. And 10 per cent of a premier.

But if Ontario is so efficient, why is Saskatchewan doing so well by comparison?

Our peak oil premium – by Thomas Homer-Dixon (Globe and Mail – February 1, 2012)

February 1, 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.

Thomas Homer-Dixon is director of the Waterloo Institute for Complexity and Innovation and CIGI Chair of Global Systems at the Balsillie School of International Affairs in Waterloo, Ont.

Peak oil – it’s history, right? Everything has changed so fast.

Two years ago, the world was facing an intractable oil crisis. “By 2012, surplus oil production capacity could entirely disappear,” the U.S. Defence Department declared in a major report. “A severe energy crunch is inevitable without a massive expansion of production and refining capacity.”

But now we’re told that the world is awash in oil. Deepwater production from the Gulf of Mexico and offshore Brazil is soaring. New “elephant” fields have been discovered off Ghana and possibly Angola. Meanwhile, hydrofracking technology is liberating hundreds of thousands of barrels a day from “tight” shale oil formations in North Dakota and Texas, with more coming on line from Colorado, Wyoming and even Ohio.