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Jack and Adam Lundin are TNM’s Persons of the Year for 2024 – by Alisha Hiyate (Northern Miner – November 4, 2024)

https://www.northernminer.com/

Sometimes a discovery is so big, it takes generations to discover, define and develop – in order to become a mining district that produces metals for future generations. Over the past two decades, the Lundin Group technical team has found a cluster of giant copper-gold deposits in the Andes – the region that produces 40% of the world’s copper.

Their Vicuña district deposits include Filo Corp.’s (TSX: FIL) Filo del Sol and Lundin Mining‘s (TSX: LUN) Josemaria in San Juan province, Argentina; and NGEx Minerals’ (TSX: NGEX) 69%-owned Los Helados in Chile’s Region III, plus its Lunahuasi discovery in San Juan.

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Ivanhoe cuts copper forecast on DRC power woes, while Friedland touts new discoveries – by Henry Lazenby (Northern Miner – October 30, 2024)

https://www.northernminer.com/

Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) on Wednesday reported record third-quarter copper production but cut its full-year guidance by 6%, blaming power outages at its Kamoa-Kakula complex in the Democratic Republic of Congo.

The Toronto-based company lowered the copper guidance to 425,000–450,000 tonnes, from 440,000–490,000 tonnes. The disruptions stemmed from deficient transmission capacity and instability in the DRC’s southern grid, managed by state-owned Société Nationale d’Électricité. Delays in upgrading the Inga II dam’s transmission line and grid bottlenecks at the Kolwezi substation limited reliable power delivery.

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Global Atomic anticipates $295m loan for Dasa project by Q1 2025 – by Staff (Mining.com – October 29, 2024)

https://www.mining.com/

Global Atomic (TSX: GLO) said on Tuesday it anticipates securing a project financing loan from the US development bank by early Q1 2025 to advance its Dasa uranium project in Niger.

The company reported that in recent discussions, the bank confirmed its intention to approve a $295 million debt facility, which would cover 60% of the project’s projected costs. Dasa is the highest-grade uranium deposit in Africa, surpassed only by grades found in Canada’s Athabasca Basin, and is scheduled to achieve commercial production in early 2026.

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Millennial mining heirs bet the family business on Argentine copper – by Jacob Lornic (Bloomberg News – October 25, 2024)

https://www.bnnbloomberg.ca/

When he was 16, Adam Lundin was lowered by helicopter into the remote wilderness of northern Canada. For the son of a wealthy mining mogul, this was something of an initiation. He spent the summer hunting for gold — shadowing grizzled prospectors and geologists, bushwhacking through the Boréal forest.

He even dug holes for where the outhouses would go. “I just wanted to be kept busy,” he said. Adam, 37, is now the chairman of Lundin Mining Corp., a publicly traded Canadian metals producer. His younger brother, Jack, 34, is the company’s chief executive officer.

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Barrick Gold asks judge to dismiss Ontario lawsuits for alleged killings and abuses at Tanzanian mine – by Niall McGee (Globe and Mail – October 17, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. is asking an Ontario judge to dismiss lawsuits alleging that its subsidiary in East Africa committed human-rights atrocities in the vicinity of its North Mara mine, arguing that the matter should be litigated overseas.

Barrick is defending two civil cases in the Ontario Superior Court of Justice, one from November, 2022, and another from February of this year. The plaintiffs are Indigenous Kurya from villages around the mine in Tanzania who were injured in 2021 and 2022 when mine security police allegedly shot at them, as well as family members of victims who were killed during this period allegedly by the police.

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Saudi’s Manara in advanced talks to buy stake in First Quantum’s Zambian mines – by Divya Rajagopal, Clara Denina and Felix Njini (Reuters – October 16, 2024)

https://www.reuters.com/

Saudi Arabia’s Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals’ Zambian copper and nickel assets, three people familiar with the details told Reuters.

Manara, a joint venture between Saudi Arabian mining company Ma’aden and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said.

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Coal mining in the foothills of the Rockies: A tale of two municipalities – by Emma Graney (Globe and Mail – October 14, 2024)

https://www.theglobeandmail.com/

A coal mining proposal has divided two neighbouring municipalities in Southern Alberta – and one of them recently received a blow from the Alberta Energy Regulator, which denied its application for an adjournment of licence hearings for a new coal development.

To the north is Ranchland, a municipality of rolling terrain in the foothills of the Rocky Mountains with around 100 residents. To the south is Crowsnest Pass, a municipality of about 5,700 people. Both picturesque, the two municipalities could not be more different when it comes to their positions on coal mining.

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‘Far too dependent on China’: trade tensions still hot as graphite producers request tariffs – by Gabriel Friedman (Financial Post – October 15, 2024)

https://financialpost.com/

The trade group said it faces a “pivotal” moment before demand exponentially increases

The North American Graphite Alliance on Thursday called on Canada to enact 25 per cent tariffs on six Chinese products used to make batteries, further amplifying trade tensions around the electric vehicle supply chain.

Graphite is used in lithium-ion battery anodes, and Canada produced around one per cent of the global total in 2022. The trade group said it faces a “pivotal” moment before demand exponentially increases from the EV transition and that it needs protection from China.

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Teck CEO Says Canada Must Spend More to Erode China’s Critical Minerals Dominance – by Erik Hertzberg (Bloomberg News – October 10, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Teck Resources Ltd.’s chief executive officer warned the Canadian government that it isn’t doing enough to foster development in the critical minerals sector.

Speaking Thursday at an event in Ottawa, Jonathan Price said that while both the US and Canada have focused on developing the electric-vehicle and battery manufacturing sectors on the continent, support for mines and mineral processing continues to lag.

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Ottawa announces nearly $25M in federal investments for critical mineral projects in northern Ontario – by Jonathan Migneault (CBC News Sudbury – October 10, 2024)

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

Around $8.4M in conditional funding to be available to projects in the northeast

Ottawa continues to invest heavily in the critical minerals sector in northern Ontario. Minister of Energy and Natural Resources Jonathan Wilkinson announced nearly $25 million in federal funding for critical mineral projects during visits in Thunder Bay and Sudbury this week.

“There are enormous opportunities in Ontario for critical minerals,” Wilkinson told CBC News. In the northeast, those investments included $8.4 million in conditionally approved funding provided through the Critical Minerals Infrastructure Fund (CMIF) for several companies.

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China’s critical minerals dominance ‘material risk’ to national security, Teck Resources CEO warns – by Jordan Gowling (Financial Post – October 11, 2024)

https://financialpost.com/

Stronger private investment crucial, says U.S. Ambassador to Canada

Teck Resources Ltd. chief executive Jonathan Price is sounding the alarm over China’s control of the critical minerals sector, warning that North America needs to invest more to catch up.

“China controls in the range of 40 to over 90 per cent of global processing capacity for many critical minerals, from copper to cobalt,” Price said during an event hosted by the Business Council of Canada and the American Chamber of Commerce in Canada in Ottawa Thursday. “With the increasing necessity of metals, it is clear that diversifying supply chains is now critical to both our economy and national security.”

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Mali seeks $500 million in outstanding taxes and dividends from Barrick – report – by Staff (Mining.com – October 8, 2024)

https://www.mining.com/

Mali’s military government is seeking at least 300 billion CFA ($512 million) in outstanding taxes and dividends from Barrick Gold, according to a Reuters report.

Authorities in Mali briefly detained four Malian staff members working for Barrick last month.On Sept. 30, Barrick stated it had agreed with the government to resolve existing claims and disputes.

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Canadian miner Hudbay settles long-standing lawsuits alleging human rights abuses in Guatemala – by Niall McGee (Globe and Mail – September 8, 2024)

https://www.theglobeandmail.com/

Hudbay Minerals Inc. HBM-T has settled a long-standing series of lawsuits in an Ontario court that centred around alleged human-rights abuses at a Guatemalan nickel mine more than a decade ago.

The allegations heard in the Ontario Superior Court are based on clashes between Indigenous Mayan protesters and security personnel at the Fenix nickel mine in eastern Guatemala in 2007 and 2009.

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Investors With $15 Trillion Signal New Approach to Miners – by Alastair Marsh (Bloomberg News – October 07, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Investors need to adopt a new approach to the mining sector if the industry is to meet the growing demand for minerals and metals needed for the green transition.

That’s the central message in a report published Tuesday by a coalition of some of the world’s biggest investors, including California State Teachers’ Retirement System and Allianz Investment Management.

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Indigenous women from Ecuador bring concerns on mining abuses, free trade to Parliament Hill – by Brett Forester (CBC News Indigenous – October 02, 2024)

https://www.cbc.ca/news/indigenous/

Delegation to meet with federal leaders in Ottawa amid talks on proposed free trade deal

Indigenous women from Ecuador are in Ottawa this week raising concerns a proposed free trade agreement could enable human rights abuses by Canadian mining companies operating on their ancestral lands.

The delegation travelled thousands of kilometres from the rural reaches of the Ecuadorian Amazon to Canada’s capital city, bringing what they say is an urgent message of grave concern to the doorstep of Parliament Hill.

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