Canada Mining – Page 357 – Republic of Mining

Rob McEwen: Mining magnate with a vision – by Gordon Pitts (Globe and Mail – February 4, 2012)

February 4, 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.

Rob McEwen, the near-billionaire nationalist, philanthropist, libertarian, gold-loving, regulation-hating metals magnate, is as steamed as the plate of tagliatelle pasta sitting in front of him.

“It’s the parentalness of government that pisses me off. Get out! We have to take risks on our own,” he says.

The 61-year-old is reacting to the roadblocks encountered in his new mining venture, the latest chapter in a colourful and wildly successful career highlighted by converting a struggling gold mine in Northern Ontario into a global colossus called Goldcorp. The mining tycoon is merging two junior companies to form what he hopes will be his next – perhaps last – big winner. But the regulatory and governance process has taken three months longer than expected, costing $6-million in legal and advisory fees.

“This is an unnecessary tax on shareholders,” he fumes, his usually soft voice rising above the lunchtime clatter at Canoe, a darling of Bay Street expense accounts sitting 54 floors above downtown Toronto. “Wouldn’t we be better served to, say, cut a cheque to our shareholders as a dividend?”

NEWS RELEASE: Mining Contributed $36 Billion to Gdp, 300,000 Jobs, New Report Finds $139 billion in new projects planned in the next decade

February 4, 2012

OTTAWA, Feb. 2, 2012 /CNW/ – Mining in Canada is back and growing according to the latest report by Mining Association of Canada (MAC). MAC’s annual Facts & Figures 2011 finds that mining in Canada has not only recovered from the 2008 economic crisis, but is now entering a period of significant and sustained growth.

Canada’s mining sector contributed $36 billion to the national GDP in 2010, and employed 308,000 workers in mineral extraction, smelting, fabrication and manufacturing. An additional 3,215 companies supplied engineering, geotechnical, environmental, financial and other services to mining operations.

In 2010, the value of Canadian mineral production rose by 31% and mineral exploration increased by 35%. The industry exported $84.5 billion worth of metals, non-metals and coal in 2010, which accounts for 21.2% of Canada’s total exports.

Glencore, Xstrata target powerhouse mining merger – by Eric Reguly (Globe and Mail – February 3, 2012)

February 3, 2012February 3, 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.

ROME—The pending marriage of Xstrata PLC and Glencore International PLC would create a mining powerhouse with both the muscle and the appetite to quickly gobble up smaller rivals.

Xstrata, which owns Canada’s Falconbridge Ltd., is in talks with part-owner Glencore aimed at an all-stock merger that would reshape the industry by uniting what is already a formidable miner with the world’s biggest commodities trader.

Xstrata said Thursday it was approached by Glencore, which already holds 34 per cent of the Anglo-Swiss miner. If a deal is struck, a giant with a market value of about $88-billion (U.S.) would be created overnight.

Both companies are run by forceful chief executive officers, both are deal-making machines on their own, and together would be a formidable takeover force that analysts believe could target companies whose market value is at least $10-billion. In its own right, it would be huge in zinc, thermal coal, nickel and copper.

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.

Commodities: Now is a good time to load up on CARBS – by Garry White (The Telegraph – November 27, 2011)

February 2, 2012

This article came from: http://www.telegraph.co.uk/

The City loves acronyms. We’ve had BRICS, PIIGS, SPDRs and BASICs – but now we have another to add to the Square Mile’s lexicon. The CARBS.

The CARBS are the major commodity producing countries – Canada, Australia, Russia, Brazil and South Africa – according to a report published last week by Citigroup’s equity strategists. They argue that “CARBS make you strong” and these countries should be considered a distinct asset class in their own right.

Between them the CARBS control commodity assets worth almost $60 trillion (£38.7 trillion) and 29pc of the world’s landmass. They produce between a quarter and a half of most major commodities.

The crux of Citi’s argument is sound. Basically, it’s all about the amount of infrastructure these countries will have to build if they are going to fully exploit the opportunity they have in their commodity reserves. “CARBS are the new carnivores,” Citi argues.

[Canada Mines Minister] Oliver pushes for Ring of Fire development – Matthew Hill (Miningweekly.com – January 31, 2012)

January 31, 2012

Mining Weekly is South Africa’s premier source of weekly news on mining developments in Africa’s most important industry. Mining Weekly provides in-depth coverage of mining projects and the personalities reshaping the mining industry.

TORONTO (miningweekly.com) – Natural Resources Canada minister Joe Oliver on Tuesday continued his crusade to cut down on environmental approval timelines for major projects, to encourage the potential C$92-billion in mining investment the government sees over the next ten years.

Oliver made specific mention of the chromite and nickel projects underway in Ontario’s Ring of Fire district, saying he hoped Cliffs Natural Resources’ Black Thor deposit and Noront Resources’ Eagle’s Nest project make their way through the regulatory processes without hitches.

Cleveland-based Cliffs said earlier this month that it could cost nearly $1-billion to build a mine and a concentrator at Black Thor, where it is carrying out a prefeasibility study, to produce one-million tons of export chromite ore concentrate and 600 000 t of ferrochrome.

A Vast Canadian Wilderness Poised for a Uranium Boom – by Ed Struzik (Yale Environment 360.com – January 30, 20120

January 30, 2012

This article is from Yale Environment 360.com: http://e360.yale.edu/

Canadian author and photographer Ed Struzik has been writing on the Arctic for three decades.

Canada’s Nunavut Territory is the largest undisturbed wilderness in the Northern Hemisphere. It also contains large deposits of uranium, generating intense interest from mining companies and raising concerns that a mining boom could harm the caribou at the center of Inuit life.

Until her semi-nomadic family moved into the tiny Inuit community of Baker Lake in the 1950s, Joan Scottie never knew there was a wider world beyond her own on the tundra of the Nunavut Territory in the Canadian Arctic. She didn’t see the inside of a school until she was a teenager and didn’t venture south until she was an adult.

But that all changed in 1978, when a Soviet satellite carrying 100 pounds of enriched uranium for an onboard nuclear reactor crashed into the middle of the wilderness she knew so well, resulting in a military search that recovered some of the radioactive debris. Everything that Scottie learned about uranium after that convinced her she wanted nothing to do with a mineral that had the potential to cause such serious health problems or be used for military purposes.

4 Vale mine deaths in 7 months anger union leader – CBC News (CBC.ca – January 30, 2012)

January 30, 2012

This article came from the CBC News website: http://www.cbc.ca/news/

Sudbury-area fatality the 4th this year at Vale mines

The president of the Steelworkers union local in Sudbury is calling Sunday’s mining fatality “unacceptable.” A 47-year-old man was killed Sunday afternoon while working at Vale’s Coleman Mine in Levack, Ont., northwest of Sudbury.

“It’s a really difficult … I’m very angry,” Rick Bertand said. “And the reason for that is … four fatalities in seven months is unacceptable — three in Sudbury, one in Thompson [Man.].” Ministry of Labour investigators are on the scene.

“All we know at this time is a worker was loading the face of the rock with explosives, from a man-basket, when the incident occurred,” said ministry spokesman Matt Blajer.

The ministry has issued two requirements to Vale: that it not disturb the area and any equipment until it’s released by one of the ministry inspectors and to release a number of documents related to training and equipment. Bertand said a plan needs to be forged when it comes to health and safety at Vale mines.

CIDA funds seen to be subsidizing mining firms – by Daniel LeBlanc (Globe and Mail – January 30, 2012)

January 30, 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.

OTTAWA— The Harper government weathered a storm when it cut funding to long-standing foreign-aid groups, but is now facing more controversy over its decision to launch development projects in partnership with mining firms.

The Canadian International Development Agency has established three foreign-aid pilot projects in Africa and South America with large mining corporations, as part of a plan to ensure that foreign aid also fuels economic growth and international trade at home.

Critics argue that Canada is needlessly subsidizing the foreign operations of profitable corporations, but the government is encouraging non-governmental organizations to come up with more projects with the private sector.

Attawapiskat: Lots of love, and rocks, for a young generation [PDAC Mining Matters] – by Jim Coyle (Toronto Star – January 30, 2012)

November 5, 2015January 30, 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.

ATTAWAPISKAT, ONT. — At Micheline Okimaw’s White Wolf Inn, the most popular of the two motels in this remote James Bay reserve, visitors to town tend to cross paths. And in recent days, in Okimaw’s cozy confines, folks arrived trying to help the community with both its future and its past.

From the organization Mining Matters, a travelling “school of rock” in the person of Toronto teachers Barbara Green Parker, Janice Williams and Jenni Piette, came a high-energy presentation on earth sciences and how that field could lead to jobs for young people in projects like a nearby diamond mine.

From Angela Lafontaine, a member of the Moose Cree First Nation, survivor of her own difficult past, came help addressing long-standing wounds that have gone unhealed down generations and helped sabotage aboriginal aspirations.

For the Cree of Attawapiskat, each of those aims — hopeful futures, reconciled pain — is as necessary as the other.