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Canada Mining

London mining company with Canadian connections plans copper mine acquisitions after sealing Turkish deal – by Eric Reguly (Globe and Mail – September 25, 2024)

https://www.theglobeandmail.com/

A Russian-British mining executive has launched an attempt to build an international copper-mining portfolio with the purchase of a Turkish mine and will soon set his sights on Canada.

Earlier this month, Artem Volynets, the chairman and CEO of ACG Metals Ltd., which is listed on the London Stock Exchange, announced an investment of US$290-million in the Gediktepe mine in western Turkey. In an interview with The Globe and Mail, he said the purchase marked the first step of his “company’s vision to roll up the copper sector through a series of acquisitions.”

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Metals security of supply depends on junior resource companies – by Rick Mills (Ahead of the Herd/Mining.com – September 19, 2024)

https://www.mining.com/

A junior resource company’s place in the food chain is to acquire projects, make discoveries and hopefully advance them to the point when a larger mining company takes it over. Discoveries won’t be made if juniors don’t have boots on the ground, if they aren’t out in the bush poking around and breaking rocks.

Few exploration companies have the money or technical expertise to “go mining”. For many, the goal is to find a deposit that’s good enough to attract a major who will acquire the asset. Another pathway is for the junior to partner with a larger company. An option or joint venture (JV) agreement is a way for juniors to gain access to the financial and technical resources needed to build the mine.

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Canada’s nuclear waste needs a forever home. Scientists may be close to finding one – by Marcus Gee (Globe and Mail – September 18, 2024)

https://www.theglobeandmail.com/

Canada’s Candu nuclear reactors have been running for more than half a century. Ontario, home to all but one of the active reactors, gets about 60 per cent of its electrical power from nuclear, which has the benefit of producing next to no greenhouse gases.

To help meet climate targets while fulfilling the province’s electricity needs, the provincial government has announced plans to spend billions refurbishing an aging nuclear plant at Pickering, east of Toronto. It is part of a worldwide trend. After stagnating for years over worries about cost and safety that followed accidents in Chornobyl and Fukushima, nuclear power is getting a fresh look.

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Canada’s nuclear waste needs a forever home. Scientists may be close to finding one – by Marcus Gee (Globe and Mail – September 18, 2024)

https://www.theglobeandmail.com/

Canada’s Candu nuclear reactors have been running for more than half a century. Ontario, home to all but one of the active reactors, gets about 60 per cent of its electrical power from nuclear, which has the benefit of producing next to no greenhouse gases.

To help meet climate targets while fulfilling the province’s electricity needs, the provincial government has announced plans to spend billions refurbishing an aging nuclear plant at Pickering, east of Toronto. It is part of a worldwide trend. After stagnating for years over worries about cost and safety that followed accidents in Chornobyl and Fukushima, nuclear power is getting a fresh look.

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What will Ottawa do about a wave of deals for junior lithium miners? – by Andrew Willis (Globe and Mail – September 17, 2024)

https://www.theglobeandmail.com/

A wave of takeovers is poised to reshape the lithium mining industry, with global giant Rio Tinto Ltd. projected to become the dominant producer of an essential metal in a decarbonized economy.

With analysts predicting acquisitions are coming, how is the Canadian government that’s previously pledged to build a domestic critical mineral industry to going to react when foreign buyers begin circling a handful of domestic lithium producers? Based on deals done so far, Ottawa will sign off on any acquisition that doesn’t involve a China-based buyer.

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Opinion: Now is a good time to add commodity exposure to your portfolio – by Bhawana Chhabra (Globe and Mail – September 12, 2024)

https://www.theglobeandmail.com/

The outlook for commodity markets may be brighter than many investors appreciate, given recent price action and the current state of the global economy. Recession risk is on the rise, to be sure, but for those with longer-term horizons who can look through near-term volatility, our models at Rosenberg Research are saying that now is a good time to add exposure.

From cyclical tailwinds such as a weaker U.S. dollar to depressed investor sentiment and positioning (which are contrarian positives) and structural demand-supply imbalances, there are good conditions for commodities over the medium term.

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AngloGold Ashanti to buy Centamin for $2.5 billion – by Cecilia Jamasmie (Mining.com – September 10, 2024)

https://www.mining.com/

AngloGold Ashanti (JSE: ANG) (NYSE: AU) (ASX: AGG) is buying Egypt-focused smaller rival Centamin (LON: CEY) in a $2.5 billion (£1.9 billion) stock and cash deal that would see the South African gold miner become the world’s fourth largest producer of the precious metal.

The acquisition hands AngloGold the key Sukari mine in Egypt, which is the country’s largest and first modern gold operation, as well as one of the world’s largest producing mines.

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Undervalued and ignored: Why young Canadian firms are looking to foreign investors and buyers – by Tim Shufelt and Sean Silcoff (Globe and Mail – September 3, 2024)

https://www.theglobeandmail.com/

The framework for nurturing junior companies through Canadian stock markets has been largely gutted

From the start, ZS2 Technologies Ltd. was built to go public. The Calgary-based business was founded by stock market veterans who put in place the building blocks of a publicly traded company: governance, oversight and financial reporting. When the time was right, an initial public offering would provide the exposure and capital to take it to the next level.

But the plan has changed. ZS2 is no longer destined for the Toronto Stock Exchange. ZS2 specializes in high-tech, sustainable building materials. Demand comes mostly from the U.S. construction industry. There is talk of manufacturing stateside, where ZS2 recently incorporated. There are tax advantages to consider. And calls are coming in from U.S. investors hunting for promising growth stories.

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Big Labour’s big break – by Vanmala Subramaniam (Globe and Mail – September 2, 2024)

https://www.theglobeandmail.com/

In 1937’s Oshawa GM strike, The Globe’s publisher backed the losing side – but didn’t interfere with a newsroom whose labour coverage would change radically in the decades to follow

In April, 1937, at the General Motors plant in Oshawa, Ont., workers frantically scrambled to move hundreds of cars off the factory floor, working all night at the command of their managers. The cars were lined up and then driven along a highway leading to Toronto – 75 cars an hour, travelling through the night. These same workers, up to 3,000 of them, were poised to go on strike the next day, forming picket lines around the soon-to-be-empty plant.

The remnants of the Depression lingered: a lagging economy and fast-declining social conditions. Almost a third of the labour force had been out of work, and a fifth had depended on government support merely to survive. Workers were frustrated, and unions capitalized on that anger, leading the charge in demanding higher wages and shorter work hours.

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Some want a robust gold industry in Nova Scotia. Others say good riddance – by Taryn Grant (CBC News Nova Scotia – September 03, 2024)

https://www.cbc.ca/news/canada/nova-scotia/

Industry says provincial government is hindering its efforts

A year after Nova Scotia’s only active gold mine shut down, people in the industry say the provincial government is standing in the way of eager prospectors. Others, including environmentalists and Mi’kmaq, are opposed to any new mines and are hoping the closure marks the end of the province’s long history of gold production.

St Barbara, an Australian firm, is the main player in Nova Scotia’s modern gold rush. The company owns the Touquoy mine, which operated from 2017 to 2023, and the company has a vision for three more open-pit gold mines along the Eastern Shore.

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Indigenous investment in resource projects ups demand for specialized legal know-how – by Jeffrey Jones (Globe and Mail – September 2, 2024)

https://www.theglobeandmail.com/

Relationships are evolving quickly between Indigenous communities and Canadian businesses seeking to develop energy and natural-resource projects on their territories – and that’s boosting demand for specialized legal know-how.

In past decades, oil, mining and pipeline companies often sought to push their developments through by designing them in-house, then seeking support and access agreements from First Nations, Métis and Inuit communities. If they got pushback, some offered financial incentives or ownership stakes, and the results were hit or miss. Some of the misses were extremely costly.

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‘Long tail’: Rail shutdown ends, but aftershocks ripple amid drawn-out ramp-up – by Christopher Reynolds (Canadian Press – August 25, 2024)

https://www.thecanadianpressnews.ca/

Rail shutdown ends, but aftershocks persist

MONTREAL – The end of the shutdown at Canada’s two major railways came too late for the workers at Conifex Timber. Some 250 employees felt the impact when the company cut the operating schedule in half at its sawmill in Mackenzie, B.C., starting Monday — the day the work stoppage on the tracks wraps up.

Despite the relatively short rail standstill, Conifex’s reduction to one shift per day from two will last “for the foreseeable future,” said chief operating officer Andrew McLellan last week.

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Feds end Canada’s rail strike – by Blair McBride and Henry Lazenby (Northern Miner – August 22, 2024)

https://www.northernminer.com/

Ottawa has stepped in to end a rare strike halting both of Canada’s major railways less than a day after it began. Labour Minister Steve MacKinnon on Thursday afternoon ordered Canadian Pacific Kansas City Railway, Canadian National Railway and the labour union, the Teamsters Canada Rail Conference, into final arbitration.

The companies had locked out about 10,000 employees after the parties failed to reach an agreement. Mining leaders were among scores of industries concerned the stoppage would affect supply lines across the country and over the border with the United States.

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Lucara finds world’s 2nd largest diamond ever mined – by Cecilia Jamasmie (Mining.com – August 22, 2024)

https://www.mining.com/

Canada’s Lucara Diamond (TSX: LUC), has dug up a 2,492 carat diamond from its prolific Karowe mine in Botswana, the world’s second-largest stone ever mined in terms of size.

The “epic” diamond, as Lucara put it, was detected and recovered by the company’s Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, installed in 2017 to identify and preserve large, high-value stones.

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Miners tap trucks, divert shipments to sidestep Canada rail woes – by Jacob Lorinc (Bloomberg News – August 22, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Two mining giants are re-routing shipments and turning to trucks to deal with disruptions from a Canadian railway stoppage that threatens to undermine the industry’s operations.

Rio Tinto Group will rely on trucking and increase usage of its own railway between Quebec and Newfoundland and Labrador to ship and receive raw materials, the company said Thursday in an emailed statement. Rio produces aluminum, iron ore, diamonds and titanium in Canada.

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