Archive | Canada Mining

Calls for tariffs on Canadian aluminum come with a Glencore twist – by Gabriel Friedman (Financial Post – July 11, 2020)

https://financialpost.com/

The U.S.-Mexico-Canada Agreement was supposed to mark a new era in trade relations between Ottawa and Washington. Instead it came into force on July 1 overshadowed by the Trump Administration’s threats to re-impose tariffs on Canadian aluminum.

While political analysts have speculated about whether the tough talk, which began last month, may have had more to do with re-election campaigning than economic policy, inside aluminum industry circles the possibility of new tariffs has raised eyebrows for other reasons.

That’s because one of the world’s largest commodities players, Switzerland-based Glencore Plc — which mines nickel, copper, zinc and thermal coal in Canada and has partnerships worth billions of dollars with some of this country’s largest pension plans — is a major investor in a Chicago-based aluminum producer closely tied to the tariff fight. Continue Reading →

Ivanhoe keeps Kakula copper project ahead of schedule – by Cecilia Jamasmie (Mining.com – July 6, 2020)

https://www.mining.com/

Canada’s Ivanhoe Mines (TSX:IVN) said on Monday that progress at its Kakula copper project, the first of multiple planned mining areas at Kamoa-Kakula in the Democratic Republic of the Congo (DRC) continues ahead of schedule.

The company, together with its joint venture (JV) partner China’s Zijin Mining Group, has now completed more than 17 km of underground development, of which 5.1 kms is ahead of schedule.

Ivanhoe also said that Kakula’s 2,000-tonne-per-hour ore conveyor system began operations in June, which will further increase the mine’s pace of underground development. Continue Reading →

Bringing coal back – by Robson Fletcher, Drew Anderson and Jordan Omstead (CBC News – July 7, 2020)

https://newsinteractives.cbc.ca/

In a desperate economic moment, Alberta is abruptly reshaping a decades-old balance in the Rockies and Foothills, chasing opportunity in the volatile market of coal exports, at the risk of the very land that defines the province and its people.

Stand atop Mount Erickson in southeastern British Columbia and it feels like you can see forever.

Look north, and peer along the jagged ridgelines of the High Rock Range, which stretch to the horizon. To the south, snow-capped peaks in the Crowsnest Range cut into the blue sky, rising above dense green forests. Across the valley to the west, row upon row of sawtoothed summits fade into the distance, melding into mesmerizing array.

And then you look down. Down the austere slope, in the valley below, is a massive, open-pit coal mine. Continue Reading →

Why Canada faces fresh U.S. aluminum tariffs – by James McCarten (Globe and Mail – July 6, 2020)

https://www.theglobeandmail.com/

The United States is once again threatening to spark a fresh tariff war with Canada over aluminum exports, despite the debut of a renegotiated North American trade agreement that was supposed to usher in stability in the midst of an international economic crisis.

Precisely why remains a mystery to trade and industry insiders, although it’s likely the result of a convergence of disparate factors: COVID-19, international metals arbitrage, President Donald Trump’s re-election campaign and US$16.3-billion worth of Russian aluminum.

“It doesn’t make sense,” said Jean Simard, president and CEO of the Aluminum Association of Canada, coming as it does with the coming into force of USMCA – the U.S.-Mexico-Canada Agreement, which formally replaced NAFTA this week. Continue Reading →

Stock promotion scheme exploits pandemic fears – by Niall McGee (Globe and Mail – July 6, 2020)

https://www.theglobeandmail.com/

Crestview Exploration Inc., the Calgary-based gold exploration company at the centre of an investigation over an apparent “pump and dump” mailing campaign tied to the novel coronavirus, was also the target of an aggressive online stock promotion on both sides of the Atlantic.

Website posts and e-mailed stock tips promoting Crestview strongly resemble letters mailed across Canada this past spring that made false claims about the tiny gold explorer, which is registered in British Columbia.

Crestview’s chief executive, Glen Watson, told The Globe and Mail last month the company had nothing to do with the letters, and their dissemination had inflicted great damage. Continue Reading →

Politics, pandemics and Russian aluminum: why Canada faces fresh U.S. tariffs (National Post – July 03, 2020)

https://nationalpost.com/

The Canadian Press – WASHINGTON — The United States is once again threatening to spark a fresh tariff war with Canada over aluminum exports, despite the debut of a North American trade agreement that was supposed to usher in stability in the midst of an international economic crisis.

Precisely why remains a mystery to trade and industry insiders, although it’s likely the result of a convergence of disparate factors: COVID-19, international metals arbitrage, President Donald Trump’s re-election campaign and $16.3-billion worth of Russian aluminum.

“It doesn’t make sense,” said Jean Simard, president and CEO of the Aluminum Association of Canada, coming as it does with the coming into force of USMCA — the U.S.-Mexico-Canada Agreement, which formally replaced NAFTA this week. Continue Reading →

OPINION: The Big Debate: Should nuclear energy be part of a Green New Deal? – by Jatin Nathwani (Yes) and M.V. Ramana/Schyler Edmundson (No) (Toronto Star – June 30, 2020)

https://www.thestar.com/

YES: “Truth is the daughter of time,” Francis Bacon noted four centuries ago. Perhaps the time has come to acknowledge the near existential threat posed by climate change to our collective well being and recognize the importance of one compelling solution — nuclear energy — in solving this problem.

The primary culprit is well-known: emissions from fossil fuels must be eliminated. The problem has been in the making for over five generations and we do not have the luxury of time to mitigate the risk of destabilizing the climate system that can deliver misery on a very large scale: floods, fires, famines, tsunamis, and extreme weather events that test the boundaries of human habitation.

What is needed, with urgency, is a fundamental reboot of the global energy system. In 1990, the share of global primary energy stood at 85 per cent fossil fuels and all other sources (hydro, nuclear, geothermal, wind, solar, bioenergy) at 15 per cent. Continue Reading →

SolGold goes after rival Cornerstone Capital Resources – by Cecilia Jamasmie (Mining.com – June 30, 2020)

https://www.mining.com/

SolGold (LON, TSX:SOLG) is trying to buy Canada’s Cornerstone Capital Resources (TSX-V: CGP), which owns a minority stake in the Alpala copper-gold project, part of the Ecuador-focused miner’s Cascabel asset.

The C$140 million ($102m) all-stock offer, SolGold’s second attempt to take over the Ontario-based junior, would see the bidder pay C$3.90 for each Cornerstone share. That is a 22% premium to its closing price of C$3.19 on Monday.

Chief executive Nick Mather said the deal would boost the junior’s footprint in copper-rich, but underdeveloped Ecuador, while simplifying the structure of the $2.85 billion project. He highlighted that the business combination would reduce the risk of dilution and future development costs for Cornerstone shareholders. Continue Reading →

NEWS RELEASE: Safety First: New Report Outlines Guidelines To End Mine Waste Disasters (Mining Watch – June 30, 2020)

https://miningwatch.ca/

(Ottawa/Washington, DC) Today an international group of 142 scientists, community groups, and NGOs from 24 countries published a set of 16 guidelines for the safer storage of mine waste. The guidelines aim to protect communities, workers and the environment from the risks posed by thousands of mine waste storage facilities, which are failing more frequently and with more severe outcomes.

“Safety First: Guidelines for Responsible Mine Tailings Management” states that the ultimate goal of tailings management must be zero harm to people and the environment and zero tolerance for human fatalities. Last year’s tragic dam collapse in Brazil killed 270 people and destroyed the town of Brumadinho, and came on the heels of tailings dam failures at the Mount Polley mine in Canada and the Samarco mine in Brazil, among others.

There are 71 known cases of tailings failures since 2010 that have led to 482 deaths and damaged over 2,100 km of waterways. Across the world, communities in the shadow of large tailings dams live in a state of perpetual fear. Continue Reading →

U.S. plan to slap tariffs on Canadian aluminum faces a powerful adversary — the beer lobby – by Gabriel Friedman (Financial Post – June 27, 2020)

https://business.financialpost.com/

As the Trump Administration considers reimposing a 10 per cent tariff on Canadian aluminum, it finds itself at odds with a powerful constituency — beer manufacturers.

On Thursday, Jim McGreevy, chief executive of the Washington, D.C.-based Beer Institute, joined by executives from the American Beverage Association, the Can Manufacturers Institute, and the Aluminum Association, expressed their strong opposition to a tariff or even a quota on Canadian aluminum, in a letter to U.S. Trade Representative Robert Lighthizer.

“Constraints on imports of aluminum from our country’s closest ally, whether in the form of a quota or a tariff, will significantly increase the cost of aluminum in this country,” the executives wrote. Continue Reading →

Top 10 Canadian-headquartered diamond companies – by Staff (Northern Miner – June 27, 2020)

Global mining news

The Northern Miner presents the top-ten Canadian-headquartered diamond companies ranked by market capitalization as of mid-June.

1. Lucara Diamond – Market capitalization: US$185.6 million

Lucara Diamond president and CEO Eira Thomas speaking at The Northern Miner’s Canadian Mining Symposium held at Canada House in London, U.K., on May 22, 2019. Photo by Martina Lang for The Northern Miner.

Lucara Diamond’s (TSX: LUC) key asset is the wholly owned Karowe mine in Botswana, which has been in production since 2012 and generated 433,060 carats last year. Since Karowe’s 2012 startup, Lucara has become recognized as a consistent producer of large, gem-quality diamonds. Continue Reading →

Top 10 Canadian-headquartered base metal and uranium explorers (Northern Miner – June 24, 2020)

Global mining news

The Northern Miner has compiled a list of the top-10, Canadian headquartered base metal and uranium juniors – with no production and which are not a royalty or streaming company. The ranking is based on market capitalization as of mid-June.

1. Ivanhoe Mines – US$3.4 billion market capitalization – For the fourth year in a year, Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) retains its commanding position atop the top-10 list. However, the global economic slump has hit the company hard, with its market capitalization down some US$2 billion since the 2019 list was compiled.

The company continues to be focused on its three principal projects in southern Africa: developing new mines at the Kamoa-Kakula copper discovery in the Democratic Republic of Congo (DRC) and the Platreef platinum-palladium-nickel-copper-gold discovery in South Africa, and the extensive redevelopment and upgrading of the Kipushi zinc-copper-germanium-silver mine in the DRC. Continue Reading →

Blood on the Coal tartan honours Springhill’s coal mining heritage – by Darrell Cole (Halifax Chronicle Herald – June 25, 2020)

https://www.thechronicleherald.ca/

SPRINGHILL, N.S. – It has been more than 60 years since large scale coal mining ended in Springhill, but its heritage is still a big part of the community’s soul.

Springhill native Roberta Bell was sleeping last June when the inspiration came to her to develop a coal miner’s tartan in honour of all those who went deep into the earth, and paid a heavy price, to dig coal and fuel the economy of Nova Scotia.

Bell has unveiled Blood on the Coal, a commemorative tartan that celebrates the coal mining heritage of Springhill. Continue Reading →

U.S. threatens new tariffs on Canadian aluminum unless metal exports curtailed – by Adrian Morrow (Globe and Mail – June 24, 2020)

https://www.theglobeandmail.com/

Trump administration officials are threatening to reimpose tariffs on Canadian aluminum if Ottawa does not swiftly agree to cut the amount of the metal exported to the U.S., said three industry sources on both sides of the border with knowledge of the confidential discussions.

Deputy U.S. trade representative Jeffrey Gerrish told Canadian Ambassador Kirsten Hillman in a Friday phone call that Canada has until July 1 to agree to export control measures, such as quotas, or Robert Lighthizer, the administration’s trade chief, will recommend that President Donald Trump reimpose tariffs, one of the sources said.

A Canadian government official said Ms. Hillman discussed aluminum and steel exports with top officials in Mr. Lighthizer’s office on Friday. Continue Reading →

NEWS RELEASE: In Memory of Dr. Tony Naldrett (Platinum Group Metals – June 22, 2020)

http://www.platinumgroupmetals.net/

It is with sadness and condolences to his family, colleagues and many friends that we write of the passing of Dr. Tony Naldrett, “Tony” this past weekend, in England. We at Platinum Group Metals can trace the company founding all the way back to the teaching and enthusiasm of this amazing man.

President and CEO R. Michael Jones said: I met Tony as an undergraduate student, in 1984 at University of Toronto and he taught me Ore Deposits. His enthusiasm for Copper Nickel and Platinum Group Metals was obvious and we spent more time on this topic than other deposit types. Tony was a former RAF pilot and a leading academic with a background at Cambridge.

He was a gracious, generous and extremely friendly person who could speak to anyone at any level. In his 70’s, cane in hand, he climbed over outcrops with Frank Hallam (CFO and Co-founder of the Company) and I, in Northern Ontario. Tony was brightly explaining a chemical phase diagram he had likely taught me 20 years earlier, as he cheerfully climbed over logs and rocks. Continue Reading →