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Canada Mining

MAC report urges government to invest in infrastructure, mineral processing – by Alice Martin (CIM Magazine – June 08, 2023)

https://magazine.cim.org/en/

Canada must increase mining investment to avoid lagging behind in critical minerals production, MAC report says

While the mining industry in Canada has recovered from the pandemic, more investment is needed from the federal government to increase the production of critical minerals, according to a report released in May by the Mining Association of Canada (MAC) titled “The Canadian Mining Story: Economic Impacts and Drivers for the Global Energy Transition.”

The report detailed how the mining industry contributed five per cent—or $125 billion—to Canada’s gross domestic product in 2021. It also noted that Canada, which produces 60 minerals and metals, is among the top 10 producers in the world for 26 of them, notably potash, gemstones and niobium, but that production has declined since 2005 for nickel, zinc and copper.

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Top Ten Australian juniors exploring in Canada – by Sarah Hahn (Northern Miner – June 5, 2023)

https://www.northernminer.com/

1 Winsome Resources – Market Cap: $257.6 million

Lithium explorer and developer Winsome Resources (ASX: WR1) is focused on advancing its flagship Cancet project, located in the James Bay region of Quebec, 155 km east of the town of Radisson.

To date, 5,216 metres have been drilled across 59 holes on the 200-sq.-km project. After conducting metallurgical test work, the company believes it can produce low-cost, low-impact concentrate at Cancet. Winsome plans to increase the project’s lithium tonnage by exploring additional targets identified to the east and west.

The company’s portfolio includes four other projects in Quebec: Adina and Sirmac-Clappier in the James Bay region, and Decelles and Mazarac near Val-d’Or.

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Every man and his dog is looking for lithium in Canada right now. Which ASX companies have joined the craze? – by Josh Chiat (Stockhead – June 4, 2023)

https://stockhead.com.au/

Back in ye olden days they told explorers, vagabonds and wayward youth to ‘Go West’ in search of a better life. Now the catchphrase for down on their luck ASX explorers is ‘Go North’, spreading like a virus across its moose populated plains in search of today’s go-to metal, lithium.

But is much of it moose pasture? Thanks to Twitter’s Viking Trader we have a running weekly commentary on the number of ASX explorers taking the plunge in Canada’s vast outback. According to Viking Trader, he counted 21 greenfields projects on the ASX just one week earlier. A craze to rival the Monster Mash.

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Canada’s Mediocracy – by Diane Francis (Diane Francis Substack – June 5, 2023)

https://dianefrancis.substack.com/

In January, most Canadians were embarrassed after their federal government announced that four Leopard tanks would be given to Ukraine as it fights for its very existence, as well as Europe’s. Four more came a month later, but these were measly gifts, considering that Canada is wealthy, home to the second largest Ukrainian diaspora in the world, and America has given disproportionately more to Kyiv.

It’s also fair to assume that Canadian Prime Minister Justin Trudeau has not phoned President Joe Biden or NATO or Ukraine offering help along the way, or suggesting that Canada will ship substantially more energy to help reduce energy inflation and replace Russian fossil fuels. Trudeau has been in power since 2015 and yet to meet NATO military spending commitments.

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Risks involved in speed of nationwide EV rollout: Honda CEO – by Lindsay Kelly (Northern Ontario Business – June 1, 2023)

https://www.northernontariobusiness.com/

Sourcing critical minerals, EV affordability among issues for manufacturers and automakers, says Jean Marc Leclerc

In his keynote address to a rapt Sudbury audience, Honda Canada president-CEO Jean Marc Leclerc was polite but pointed in his message: in prioritizing speed over practicality in its push for a nationwide adoption of electric vehicles (EVs), Ottawa is putting in jeopardy the very goals it’s striving to achieve.

“While speed is important, it cannot be our only goal or measure of success,” Leclerc said during the 2023 BEV In Depth: Mines to Mobility conference taking place at Cambrian College on June 1. “Making the jump to EVs is, in a word, complex, with many risks involving consumers and stakeholders across the electrification supply chain.”

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Australia and Canada are one economy—with one set of flaws (The Economist – June 1, 2023)

https://www.economist.com/

Welcome to Ozanada. Beware its business weakness

If australia and Canada were one economy, this “Ozanada” would be the world’s fifth-largest, bigger than India and just behind Germany. Considering the two in tandem is not as nutty as it seems.

Weather aside, they have a remarkable amount in common. Both are vast land masses populated by comparatively few people and dangerous wildlife. Both are (mostly) English-speaking realms of King Charles III. Both export their rich natural resources around the planet. And both are magnets for immigration.

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Nova Scotia’s modern ‘gold rush’ poses huge risk to climate, expert warns – by Alexandra Mae Jones (CTV News – May 30, 2023)

https://www.ctvnews.ca/

Nova Scotia is embarking on what many are calling its fourth gold rush — but instead of panning for chunks of gold, mining operations in the province today consist of massive tailings ponds, enormous open pits extracting small traces of gold and a climate toll that one expert says we’re not properly tracking.

Alana Westwood, assistant professor at the School for Resource and Environmental Studies at Dalhousie University, says Nova Scotia’s regulations are woefully behind the times and nowhere near able to keep up with the explosion of new mining claims.

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Panama is ready to cash in on its copper boom – by Nathan Vanderklippe (Globe and Mail – May 27, 2023)

https://www.theglobeandmail.com/

Panama is sitting on massive reserves of copper and other minerals crucial to the energy transition. Now it – and other Latin American nations – are wringing massive concessions from mining companies like Vancouver’s First Quantum Minerals

The Cobre Panama mine has been gouged from the rain forest at a scale only great underground wealth could achieve.

Its 38 ultraclass mining trucks, each loaded with 400 tonnes of ore, whiz past at 35 kilometres an hour, their speed boosted by electric trolley lines. They feed conveyor belts that move 300,000 tonnes of ore a day, the equivalent of 16 CN Towers in a week, in a place that can see more than seven metres of annual precipitation.

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Indigenous engagement is transforming the future of mining – by Harold Reimer (Canadian Mining Journal – May 23, 2023)

https://www.canadianminingjournal.com/

New partnerships bridge the gap between industry and community

Canada’s mining sector has an extensive history, with minerals playing a vital role in day-to-day life going back thousands of years. Since then, much has changed and the industry has experienced innumerable advancements, including in technology, safety, and sustainability. More recently, one of the most significant developments has been the official recognition of the traditional lands of Indigenous communities that many Canadian mines are located on.

The recognition and accompanying legislation give communities better representation and more leverage in the mining process. That is why Indigenous community partnerships are becoming even more important and the relationship between industry and Indigenous communities is transforming. It helps pave the way towards economic reconciliation.

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Ottawa drove China out of Canada’s lithium industry, but questions linger over costs – by Naimul Karim (Financial Post – May 23, 2023)

https://financialpost.com/

Here’s what you need to know about the move’s impact on miners, critical minerals and even the TSX

Last November, the federal government ordered three Chinese companies to divest from three junior Canadian lithium explorers. The step was taken amidst an increasing demand for critical minerals such as lithium and copper that are expected to play a key role in the world’s shift away from fossil fuels.

The move seemed to be a part of a larger step taken by Western nations to offset China’s dominance in the critical minerals sector and divert supply chains towards friendlier countries. It’s been about half a year since Ottawa’s surprise announcement, and the three Canadian miners who were impacted have now managed to fill the gaps left by the ban on Chinese capital.

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U.S. defensive posture not bad for Canadian miners – by Nelson Bennett (Business In Vancouver – May 19, 2023)

https://biv.com/

Canadian projects eligible for Defense Production Act financing, says U.S. ambassador

Vast U.S. government spending powers unleashed through the Inflation Reduction Act (IRA) and Defense Production Act (DPA) and intended to kickstart a made-in-America green industrialization effort have Europeans worried they will be shut out of a U.S. green-tech bonanza.

The IRA contains protectionist language that favours American-made components for things such as electric vehicles. Canadians have likewise raised concerns that Canadian companies will be shut out of the U.S. market, or that the Canadian government will not be able to match lavish American subsidies.

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Mining firms’ cash-raising lifts TSX as deals slow – by Geoffrey Morgan (Bloomberg News – May 23, 2023)

https://www.bnnbloomberg.ca/

The one bright spot in Canadian equity capital markets this year has been mining and metals companies. But whether that’s a glass half full or half empty for this sector is up for debate.

Firms in the materials sector have raised $1.6 billion (US$1.2 billion) on the Toronto Stock Exchange since the beginning of 2023, or about 71 per cent of the total brought in by all firms on the exchange. Moreover, miners, headlined by Capstone Copper Corp.’s $327-million deal announced in March, accounted for eight of the 10 largest issuances.

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Miner jammed by Trudeau’s anti-China order avoids ‘crisis situation’ by selling lithium assets – by Naimul Karim (Financial Post – May 19, 2023)

https://financialpost.com/

Transaction the latest example of how the West’s rivalry with China is reshaping business

Ultra Lithium Inc., one of three Canadian miners left to find new backers after Ottawa’s snap decision to block Chinese investment in the critical minerals industry, said it avoided a “crisis situation” by finding an alternative source of funding — six months after it was forced to cut ties with Qinghai-based Zangge Mining Co. Ltd.

Afzaal Pirzada, Ultra Lithium’s vice-president of exploration, called the China order a “setback.” After much deliberation, Vancouver-based Ultra decided to sell its Laguna Verde lithium brine project in Argentina’s Catamarca province to Australia’s Power Minerals Ltd. in exchange for a stake in the buyer.

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Future of Canada’s mining industry hangs on who gets U.S. subsidies, with nickel the ‘litmus test’ – by Gabriel Friedman (Financial Post – May 17, 2023)

https://financialpost.com/

Execs worry a quirk in the Inflation Reduction Act could allow nickel powerhouse Indonesia to qualify for tax incentives, making it almost impossible for North American companies to compete

Last month, Republican congressman Pete Stauber of Minnesota penned a pointed letter to United States Trade Representative Katherine Tai before she embarked on a trip to Asia.

“I write to express concern over recent comments by Indonesian government officials that the country is seeking to enter a limited free trade agreement with the U.S., to increase trade of critical minerals needed for EV batteries and other renewable technologies,” Stauber said in the letter, dated April 14.

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South Korea, Canada agree to step up cooperation on critical minerals, security – by Hyonhee Shin and Ju-min Park (Reuters – May 17, 2023)

https://www.reuters.com/

SEOUL, May 17 (Reuters) – South Korean President Yoon Suk Yeol and Canadian Prime Minister Justin Trudeau agreed on Wednesday to enhance cooperation on critical minerals and continue joint efforts to fend off North Korea’s nuclear and missile threats.

Trudeau arrived in Seoul on Tuesday in the first visit in nine years by a Canadian leader as the two countries explore ways to expand security ties, while navigating a rivalry between the United States and China.

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