Canada Mining – Page 373 – Republic of Mining

Long-time Sherritt chief Ian Delaney to retire – by Brenda Bouw (Globe and Mail – November 25, 2011)

November 25, 2011

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.

Ian Delaney, the “Smiling Barracuda” of Bay Street who transformed Sherritt International Corp. into a multifaceted mining company with reaches into Cuba and Madagascar, is stepping down, again, as its CEO.

The 68-year-old business maverick, who still exchanges notes with Fidel Castro and shrugs off his ban from the United States, said he can comfortably relinquish the chief executive officer’s role now that his successors are primed to take over during what he sees as a prolonged period of market volatility.

“They are all firing on eight cylinders, they don’t need me,” Mr. Delaney said in an interview on Thursday after announcing his retirement effective at the end of the year, three years after being “drafted” back to the position. He will be replaced by chief financial officer David Pathe on Jan. 1.

The provocative former Merrill Lynch investment banker will remain as chairman of the diversified Toronto-based resources firm he won control over in a hostile proxy contest in 1990, turning it into Canada’s largest coal producer and the largest independent energy producer in Cuba.

NEWS RELEASE: Another record year with total mining investment [in Quebec] close to $3 billion in 2010

November 25, 2011

Québec, November 22, 2011 – The mining industry is soaring from one all-time high to the next. It had a record investment of $2.92 billion in 2010, up an unheard of 43% from 2009. This was the seventh straight year of increase in total mining investment with each of the last three years crossing the threshold of $2 billion.

The same level of investment by Québec mining companies is forecast for 2011. This was revealed in the newsletter Mines en chiffres 2010 released today by the Institut de la statistique du Québec.

The mining triangle formed by the regions of Abitibi-Témiscamingue, Côte-Nord and Nord-du-Québec continues to reap the lion’s share with 95% of total investment. However, Abitibi-Témiscamingue remains the primary mining region, the only region having broken the barrier of $1 billion in 2010 ($1.42 billion), i.e. 48.6% of the overall amount.

NEWS RELEASE: BHARTI FAMILY INVESTS $10 MILLION IN LAURENTIAN’S AWARD-WINNING SCHOOL OF ENGINEERING

May 7, 2013November 24, 2011

A November 24, 2011 $10 million gift to Laurentian's Engineering School from Stan Bharti, (centre holding cheque) chairman and CEO of Forbes & Manhattan, Inc. confirms Sudbury's status as Canada's pre-eminent centre for mining education, reseach and production. — A November 24, 2011 $10 million gift to Laurentian’s Engineering School from Stan Bharti, (centre holding cheque) chairman and CEO of Forbes & Manhattan, Inc. confirms Sudbury’s status as Canada’s pre-eminent centre for mining education, reseach and production.

Largest gift in Laurentian’s 51 year history

SUDBURY (November 24, 2011) – Stan Bharti, chairman and CEO of Forbes & Manhattan, Inc. and dozens of other companies, announced today a $10 million gift to Laurentian University’s School of Engineering, as part of the “Sudbury Families” initiative, bringing the total raised for The Next 50 Campaign to $48.6 million. In recognition of this significant investment, Laurentian University President Dominic Giroux announced that the university will rename the school in the Bharti family’s honour.

“We have very fond memories of the many years during which we lived and raised our family in Sudbury, and wanted to give back to the community”, explained Stan Bharti. “Our family is very proud of the momentum at Laurentian University. We wanted to be part of it and encourage other
families with an affinity for Northern Ontario or the mining sector to support The Next 50 Campaign.”

The Bharti family’s gift will be invested in an endowment to the exclusive use of the Bharti School of Engineering. “The endowment fund will be used to enhance the student experience by ensuring that we attract top faculty and provide our students with first class opportunities to learn both inside and
outside the classroom.”, said Dr. Ramesh Subramanian, director of the Bharti School of Engineering. “Moreover, the endowment will ensure that we can attract the best and brightest students through scholarships and promote our programs nationally.”

(L to R) Perry Dellelce, Managing Partner of Wildeboer Dellelce LLP; Dominic Giroux, Laurentian University President; Stan Bharti, Chairman and CEO of Forbes & Manhattan, Inc.; Marianne Matichuk, City of Greater Sudbury Mayor; Dr. Ramesh Subramanian, Director of the Bharti School of Engineering; Tracy MacLeod, Director of Development and Campaign Director, Laurentian University; Michael Atkins, Member of Laurentian Board of Governors and President Laurentian Media

NEWS RELEASE: $18 Million Gift from Peter and Melanie Munk Builds On Past Support at Peter Munk Cardiac Centre

November 24, 2011

Lead gift launches $100 million campaign in support of cardiac care

TORONTO, Nov. 24, 2011 /CNW/ – Dr. Robert Bell, President and CEO of University Health Network (UHN), announced today that the Peter and Melanie Munk Charitable Foundation is donating $18 million to the Peter Munk Cardiac Centre at UHN. This new gift brings the total investment by Peter and Melanie Munk in UHN to $65 million.

“Peter and Melanie’s new gift builds on their tremendous support over the 18 years they have been involved in creating a world-class cardiac centre,” said Dr. Robert Bell. “Their generosity will continue to transform the standard of cardiac care in Canada, North America and around the world. At the Peter Munk Cardiac Centre, heart surgeons, vascular surgeons, radiologists and cardiologists all work and train together on an integrated team – something that is setting the standard for the care of heart patients.”

The gift will support innovation, recruitment and retention of top cardiac talent by leveraging the incredible patient care and research discoveries already taking place. It will help recruit, retain and train top minds in cardiovascular medicine, surgery and imaging from around the globe.

Slowdown in Chinese manufacturing fuels global fears – by Andy Hoffman (Globe and Mail – November 24, 2011)

November 24, 2011

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.

China’s massive manufacturing sector is slowing, raising fears of a hard landing for the Asian economic superpower that would deliver a devastating blow to a struggling global economy.

Confirming concerns that Europe’s sovereign debt crisis is crimping demand for Chinese exports, a key measure of China’s manufacturing activity has slipped to its lowest level since March, 2009.

The HSBC China Manufacturing Purchasing Managers’ Index fell to a reading of 48 in November, down from 51 in October. A reading below 50 indicates contraction.

“The drop suggests that the economy has taken a turn for the worse after a few months in which conditions seemed stable,” Mark Williams and Qinwei Wang of London’s Capital Economics said in a report.

[Barrick’s] Munk’s $18-million donation aimed at attracting top brains – by Patrick White (Globe and Mail – November 24, 2011)

November 24, 2011

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.

It took four words and four days to land one of the biggest donations in the history of Canada’s largest hospital network.

It was May 13, 2010, and Peter Munk, the 84-year-old chair of Barrick Gold, had just completed a tour of his namesake cardiac centre at Toronto General Hospital. As medical director Barry Rubin explained the research frontiers he hoped to conquer in the coming decade, Mr. Munk had just one question.

“How can I help?” Within four days, Dr. Rubin had an answer.

On Thursday, the two men will make the answer public: an $18-million donation to fund four new heart study centres aimed at attracting the calibre of medical brains Canada has often lost to the United States and Europe.

The Honourable Joe Oliver, P.C., M.P. – Minister of Natural Resources Mining Day Speech (Ottawa, Canada – November 22, 2011)

November 23, 2011

This speech was given by the Honourable Joe Oliver, P.C., M.P. – Minister of Natural Resources to the Mining Day on the Hill Luncheon, Economic Council of Canada and Mining Association of Canada

Check against delivery

“For example, the Ring of Fire in northern Ontario is an
emerging mining region, where 26 exploration companies
have mineral claims covering almost 500,000 hectares.
Analysts estimate that there are $50 billion in qualified
resources for chromite and $10 billion for base-metal
and platinum group metal deposits.” (Honourable Joe Oliver –
Canadian Minister of Natural Resources)

Good afternoon, ladies and gentlemen. Let me start by thanking the Mining Association of Canada and the Economic Council of Canada for the invitation to speak with you today.

I also want to congratulate the Mining Association and its members for organizing this event. It’s a great occasion to recognize just how much this industry contributes to our prosperity — and why it’s important we all work together to make sure this sector continues to succeed.

As you know, I recently returned from a week-long trip to Japan and China. My main objective was to help broaden and deepen Canada’s trade and investment relationship in two of the world’s largest economies.

In meetings with senior political and business leaders, I promoted Canada’s potential for investment, exploration and development, and the opportunities for Canadian mining companies to do business in the Asia-Pacific.

NEWS RELEASE: The Mining Association of Canada Recognizes Industry Leadership in Corporate Social Responsibility

November 22, 2011

OTTAWA, Nov. 22, 2011 /CNW/ – During its annual Mining Day on the Hill, The Mining Association of Canada (MAC) is presenting its 2010 Towards Sustainable Mining (TSM) Awards, recognizing Canadian mining facilities that have demonstrated excellence in Corporate Social Responsibility (CSR).

2010 TSM Award recipients include Barrick Gold Corporation, De Beers Canada Inc., Diavik Diamond Mines Inc., Iron Ore Company of Canada, Syncrude Canada Ltd., Teck Resources Limited, and Xstrata. Facilities owned by these companies demonstrated performance excellence in a number of categories:

•Tailings Management.
•Energy Use and Greenhouse Gas (GHG) emissions.
•External Outreach.
•Crisis Management Planning.

TSM performance categories for 2011 onwards will also include:

Innovation and the Canadian mining sector – by Paul Stothart (CIM Magazine – May, 2011)

November 22, 2011

Founded in 1898, the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is a technical society of professionals in the Canadian minerals, metals, materials and energy industries.

Paul Stothart is vice-president, economic affairs, at the Mining Association of Canada. He is responsible for advancing the industry’s interests regarding federal tax, trade, investment, transport and energy issues.

In late 2010, the federal government launched a review of its core research and development (R&D) funding and tax programs. In so doing, it established an “expert review panel on R&D” tasked with providing recommendations to the government by October 2011.

Based on the premise that Canada does poorly converting knowledge to innovation, the overall intent of the exercise is to improve Canada’s ability to stimulate innovation, capitalize on knowledge and create economic value. In some circles, the launching of this review has drawn cynicism, given that the federal government has conducted similar exercises in recent years without leading to appreciable improvements.

The Mining Association of Canada prepared a submission to the expert panel in late February 2011 that highlighted the following three key messages:

[Manitoba] Province mining bright future – by Martin Cash (Winnipeg Free Press – November 19, 2011)

November 19, 2011

http://www.winnipegfreepress.com/

Many projects could start up in next few years

In the next five years the mining industry in Manitoba could find itself in a challenging position — trying to find people to fill 2,000 additional jobs that might be created. That’s because a number of development projects that have been percolating for years may be coming to fruition.

With employment up almost 25 per cent over the past five years to 6,100 and capital spending up 25 per cent in the past year, the industry is booming. Base metal prices continue to hold their own and gold prices continue to rise as global economic uncertainty persists.

It means that a number of projects — some that could be among the largest ever developed in the province — continue to progress, creating the potential for several new mine openings over the next few years. It will take billions of dollars to make that a reality, which means it’s far from a foregone conclusion.

But the current optimism — manifested by registration numbers at this week’s annual Manitoba Mining and Minerals Convention hitting 1,000 for the first time ever — does not come out of the blue. Typically, new mines take up to 10 years to develop. Leading off the development bonanza in Manitoba is one of the fastest discovery-to-development projects in the country — HudBay Minerals’ Lalor project.

Canada could create ‘thousands’ of diamond manufacturing jobs – by Matthew Hill (Miningweekly.com – November 18, 2011)

November 19, 2011

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) – Canada has the potential to create “thousands” of diamond cutting and polishing jobs as new mines come into production in the country over the next decade, Diamond Bourse of Canada GM Adam Shubinsky said in a recent interview.

To do so, the country, which produces 23% of the world’s diamonds by value, needs to implement policies that encourage cutters and polishers to set up shop in Canada, and also push miners to sell to local factories, he said.

“Canada is standing at a transformative point in its diamond history,” Shubinsky commented in an interview. A confluence of factors were aligning, creating potential for the country to benefit from its significant diamond resources, he said.

NEWS RELEASE: Mining industry projected to invest $67.7 billion in Alberta over the next five years

November 16, 2011

Canada NewsWire

EDMONTON, AB, Nov. 15, 2011 /CNW/ – Canada’s mining industry has the potential to make almost $140 billion of capital investment in Canada over the next five years and almost 50 per cent of this investment is anticipated in Alberta. The province is set to lead the way in growth, driven by a strong mix of commodities and a potential $67.7 billion investment in 12 mining projects proposed for development by 2016.

That’s one of the messages Pierre Gratton, President and CEO of The Mining Association of Canada, is sharing in an address to the Edmonton business community at the Edmonton Economic Development Corporation’s 2012 Economic Outlook Luncheon today. “There is tremendous opportunity facing the Canadian mining industry – an opportunity not seen in several generations,” Gratton says. “Multi-billion dollar investments are planned in both new and existing projects in virtually every province and territory of Canada, bringing significant economic benefits, and Alberta is set to be a major player.”

Benefits include the generation of provincial taxes and royalties, employment and economic spin-off service and supplier benefits. The statistics speak for themselves: Alberta royalties and mining tax revenues from oil sands and coal alone (not including corporate and personal income taxes) grew by roughly 16 percent between 2009 and 2010.

The revenge of Jansen [Saskatchewan potash] – by Claudia Cattaneo (National Post – November 12, 2011)

November 13, 2011

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

Far in Saskatchewan’s southern plains, between immaculate century-old villages and snow-dusted grain fields, Australian mining giant BHP Billiton Ltd. is toiling hard to grow a Canada-based potash business from the underground up.

Its foundation, the planned Jansen project, is beginning to take shape near the rural municipality of LeRoy, 140 kilometres east of Saskatoon. Two shafts — one to hoist ore, the other men and equipment — are being prepped to sink a kilometre below the surface, where the province’s immense ore deposits lie.

A giant refrigeration plant, the site’s central facility, has started producing brine that is pumped below, freezing the ground so the shafts can be cemented and sealed through a big aquifer that stands in the way.

Coming up next is the carving of an underground city that will be teeming with workers in assembly and maintenance shops, lunchrooms and refuge stations, a maze of tunnels and production areas.

Quebec Le Plan Nord Compared to Ontario – by Livio Di Matteo (November 10, 2011)

November 10, 2011

Livio Di Matteo is Professor of Economics at Lakehead University in Thunder Bay, Ontario. Visit his new Economics Blog “Northern Economist” at http://ldimatte.shawwebspace.ca/

On my recent trip to Montreal, I picked up the November 2nd issue of La Presse and was amazed to find a twelve page insert dealing with stories and advertising on Quebec’s Plan Nord. To put it in perspective, it would be like the Toronto Star deciding to devote a block of pages to the Northern Ontario Growth Plan. Needless to say, the difference between the level of engagement in Quebec with its northern development compared with Ontario is astounding.

When push comes to shove, Le Plan Nord is being sold as an investment frontier with implications for Quebec’s economic future. The Northern Growth Plan in Ontario is really something that has only caught the attention of those of us in northern Ontario and even we don’t really know what it means because nothing has been fleshed out.

Le Plan Nord is looking at 33 billion dollars in investment in Quebec’s North – the area north of the 49th parallel – over the next 25 years to develop hydroelectric and mining resources.