Celebrating 20 years of Diavik diamonds – by Shane Lasley (North of 60 Mining News – May 12, 2023)

https://www.miningnewsnorth.com/

Rio Tinto reflects on extraordinary people, spirit and innovation behind Far North Canada diamond mine.

Rio Tinto celebrates the extraordinary people, award-winning innovation, and pioneering spirit behind the 20 years of producing brilliant diamonds at the Diavik Mine in Canada’s Northwest Territories.

Discovered during the great Canadian diamond rush in the 1990s, Diavik began commercially producing diamonds in 2003. Over the ensuing two decades, Diavik has produced over 140 million carats of rough diamonds through a combination of surface and underground mining. Most of the diamonds recovered at Diavik are white gem quality stones, with a small quantity of yellow diamonds in the mix.

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Baffinland requests further production increase at Nunavut iron ore mine (Canadian Press/CTV News – April 25, 2023)

https://www.ctvnews.ca/

POND INLET, NUNAVUT – The owner of an iron ore mine on the tip of Baffin Island says it needs to again increase production to prevent job losses, and several federal cabinet ministers are calling on a Nunavut environmental assessment agency to prioritize the request.

Baffinland Iron Mines Corp. wants to increase the amount of ore it’s allowed to truck and ship from its Mary River mine to six-million tonnes, from 4.2 million, for both 2023 and 2024. It says the increase is needed to ensure a stable supply of iron ore to customers and that if it’s not granted, it will have to scale back operations, including reducing employment.

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Nighthawk soars on NWT gold project’s two-year payback – by Colin McClelland (Northern Miner – April 26, 2023)

https://www.northernminer.com/

Shares in Nighthawk Gold (TSX: NHK; US-OTC: MIMZF) jumped more than 20% after the company said its Colomac project in the Northwest Territories could pay for itself in about two years.

The open-pit project 200 km north of Yellowknife estimates annual production of 290,000 oz. of gold selling for US$1,600 each to generate US$464 million a year compared with estimated capital costs of $654 million, the company said in a preliminary economic assessment released on Wednesday. The after-tax payback period is pegged at 2.1 years.

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N.W.T. rare earth mine owner halts construction of processing plant citing depressed market Social Sharing – by Francis Tessier-Burns (CBC News North – April 20, 2023)

https://www.cbc.ca/news/canada/north/

The final cost of the plant has grown from $20 million to $60 million

Mere months after a visit from Prime Minister Justin Trudeau promoting the importance of critical minerals, Canada’s only rare earth mineral mining project is stopping the construction of its processing plant in Saskatchewan.

In a recent news release, Vital Metals, owner of the N.W.T.’s Nechalacho mine project, said the current scale of operations at its North T pit “will not achieve positive cash flow from the project.” Now the company is looking for new funding sources and partners “to potentially build a sustainable business model for the Saskatoon business.”

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Yellowknife emerging as EV metals hub – by Shane Lasley (North of 60 Mining News – April 10, 2023)

https://www.miningnewsnorth.com/

The Northwest Territories capital city of Yellowknife is emerging as a northern link in North America’s electric vehicle supply chain. Already home to Canada’s only rare earths mine, a 160-kilometers (100 miles) area around this northern mining town happens to be enriched with the lithium and cobalt that is in massive demand for EV batteries, along with numerous other minerals critical to both Canada and the United States.

A roughly 9,600-square-kilometer (3,700 square miles) area that extends 120 kilometers (75 miles) east of Yellowknife to Vital Metal Ltd.’s Nechalacho rare earths mine is riddled with hardrock lithium sources known as pegmatites.

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Excerpt from Ring of Fire: High-Stakes Mining in a Lowlands Wilderness – by Virginia Heffernan (April 6, 2023)

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A valuable discovery under the world’s second-largest temperate wetland and in the traditional lands of the Cree and Ojibway casts light on the growing conflict among resource development, environmental stewardship, and Indigenous rights

When prospectors discovered a gigantic crescent of metal deposits under the James Bay Lowlands of northern Canada in 2007, the find touched off a mining rush, lured a major American company to spend fortunes in the remote swamp, and forced politicians to confront their legal duty to consult Indigenous Peoples about development on their traditional territories. But the multibillion-dollar Ring of Fire was all but abandoned when stakeholders failed to reach a consensus on how to develop the cache despite years of negotiations and hundreds of millions of dollars in spending. Now plans for an all-weather road to connect the region to the highway network are reigniting the fireworks.

In this colorful tale, Virginia Heffernan draws on her bush and newsroom experiences to illustrate the complexities of resource development at a time when Indigenous rights are becoming enshrined globally. Ultimately, Heffernan strikes a hopeful note: the Ring of Fire presents an opportunity for Canada to leave behind centuries of plunder and set the global standard for responsible development of minerals critical to the green energy revolution.

EXCERPT: Ring of Fire – Transformative Changes For First Nations Embracing Mining Development – by Virginia Heffernan

If you journey north from the coastal communities of Moose Factory and Attawapiskat, hugging the curvaceous eastern shoreline of James and then Hudson Bay, you eventually reach the inlet that leads to the hamlet of Baker Lake in Nunavut. It’s the geographic centre of Canada. Baker Lake has been transformed by gold mining over the past decade.

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Troubled Canadian diamond mine Ekati gets new life as Australian company takes control – by Gabriel Friedman (Financial Post – March 16, 2023)

https://financialpost.com/

Burgundy is paying US$136 million to assume control from Arctic Canadian

The Ekati complex, a star-crossed diamond mining operation in Northwest Territories, is getting a new life. Ekati has changed hands several times in the past decade, and has struggled in recent years. But Australia’s Burgundy Diamond Mines Ltd. sees promise, announcing this week that it would pay US$136 million to assume control from Ekati’s current owner, Arctic Canadian Diamond Co. Ltd.

The deal is expected to close in April. Burgundy, based in Perth and listed on the Australian Stock Exchange, said in a press release that the current life-of-mine plan supports operations until 2028, and that investments could further extend mining. In 2022, Ekati delivered US$494 million in revenue and 4.1 million karats of diamonds were recovered, the press release said.

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Yukon gov’t to appeal court decision quashing approval of mining project near Mayo (CBC News North – March 16, 2023)

https://www.cbc.ca/news/canada/north/

Supreme Court found that consultation with First Nation over Metallic Minerals’ project was inadequate

The Yukon government is appealing a court decision that quashes the approval of a mining project near Mayo, Yukon. It’s the latest in an ongoing dispute between the territorial government and the First Nation of Na-Cho Nyäk Dun (FNNND) over a project in the First Nation’s traditional territory.

The First Nation filed a petition to the Yukon Supreme Court in 2021, soon after the Yukon government gave the green light to Vancouver-based Metallic Minerals Corp.’s project. The quartz exploration project is to happen over 10 years on 52 claims located north of Mayo.

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Deal over access to ore dock in Skagway, Alaska, ‘critical’ to Yukon, premier says (CBC News North – March 8, 2023)

https://www.cbc.ca/news/canada/north/

Yukon Premier Ranj Pillai is calling a potential new deal that would secure access to the ore dock in Skagway, Alaska, “very, very good news for Yukon.” “I’m very proud. I mean, this is a great example of our government taking on something … that’s very critical to the Yukon and to Canada and having the capacity, I guess I would say, to come up with a solution and get this done.”

Skagway recently accepted the terms of the agreement that would see the Yukon government put more than $17 million US toward upgrading one of the town’s docks. For the Yukon, it’s a vital facility for companies to be able to ship ore mined in the territory.

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Indigenous groups lead the renewable transition in northern Canada – by Jesse Chase-Lubitz (Yahoo News – February 28, 2023)

https://ca.news.yahoo.com/

A solution to climate change is emerging in one of the regions most affected by it. In Nunavut — the northernmost territory of Canada — a coalition of Indigenous communities is transitioning the region away from diesel and toward renewable energy.

In 2018, Nukik Corporation, which was formed by individuals in the Indigenous Inuit population, started planning the Kivalliq Hydro-Fibre Link, a set of electricity and fiber-optic transmission cables. The link would connect the vast regions of rural northern Canada to a southern Canadian renewable energy grid in the province of Manitoba.

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Companies look to government for help turning N.W.T. projects into mines – by Richard Gleeson (CBC News North – February 28, 2023)

https://www.cbc.ca/news/canada/north/

‘We are operating in a very, very difficult capital market regime right now for mining companies’

Mining companies hoping to transform exploration projects in the N.W.T. into producing mines are looking to tap into the billions of dollars the federal government announced last year to spur the development of the country’s critical minerals industry.

The federal government earmarked $3.8 billion in funding for critical minerals development in its 2022 budget. In December it released a strategy that set out broad goals for how that money will be spent.

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B2Gold takeover sidelines Sabina’s Chinese shareholder – by Andrew Willis (Globe and Mail – February 15, 2023)

https://www.theglobeandmail.com/

B2Gold Corp.’s plan to acquire a project in Nunavut for $1.1-billion is blocking expansion plans at one of China’s largest gold producers, the latest in a series of Canadian setbacks for Chinese resources companies.

Vancouver-based B2Gold launched a friendly takeover bid for Sabina Gold & Silver Corp. on Monday aimed at winning control of properties 520 kilometres northeast of Yellowknife that contain some of the world’s highest-grade undeveloped gold projects. Sabina, also based in Vancouver, forecasts its first mine will open in 2025, at a cost of $750-million, and produce gold for 15 years.

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Vancouver’s B2Gold to buy Sabina with eye on Nunavut deposits – by Naimul Karim (Financial Post – February 13, 2023)

https://financialpost.com/

Deal gives miner control of mineral-rich Back River gold project

Vancouver-based gold miner B2Gold Corp. has inked a $1.1 billion deal to acquire Sabina Gold & Silver Corp., a miner that’s developing a project in Nunavut, as the global gold sector continues to consolidate.

Although B2Gold has its headquarters in Vancouver and is listed on the Toronto Stock Exchange, it doesn’t currently produce any gold in Canada. It mines in Mali, the Philippines and Namibia and is exploring projects in Uzbekistan, Finland and Colombia.

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Yukon asks public to weigh in on Gold Rush-era mining laws – by Meribeth Deen (CBC News North – February 9, 2023)

https://www.cbc.ca/news/canada/north/

Yukon’s Quartz Mining Act and Placer Mining Act date back to the days of the Klondike Gold Rush, and haven’t been updated much since. Peter Johnston, Grand Chief of the Yukon Council of First Nations, says these outdated laws have led to chaos.

“We do not need to get into a history lesson to understand the negative impacts that we’ve felt here in the territory over 125 years when it comes to not only open access, but also having limited legislation that’s guiding proponents in a proper, safe, and environmentally conscious way,” he said.

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Li-FT Power eyes Yellowknife for continent’s next big lithium resource – by Blair McBride (Northern Miner – January 23, 2023)

https://www.northernminer.com/

Yellowknife was founded on gold mining, and now lithium holds the potential of opening a new chapter for the Far North’s second largest city. Just a short drive east of Yellowknife and off the paved, all-season highway the Ingraham Trail, Vancouver-based explorer Li-FT Power (CSE: LIFT) is preparing to turn its drills on 13 targets it calls the Yellowknife Lithium Project.

“When you talk about the potential, it’s just really easy to see because the pegmatites stick out of the ground and you can fly over them, they go for 1.8 km, and you just see almost 100% exposure,” Francis MacDonald, CEO Li-FT said in an interview with The Northern Miner.

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