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ArcelorMittal laying off 153 workers in Hamilton as Trump tariffs hammer the steel industry – by Niall McGee (Globe and Mail – June 12, 2025)

https://www.theglobeandmail.com/

ArcelorMittal is laying off steelworkers in Hamilton as part of a restructuring plan as the multinational steelmaker grapples with punishing metals tariffs imposed by U.S. President Donald Trump.

In a news release on Wednesday, ArcelorMittal Long Products Canada said it is shutting down its Hamilton wire drawing mill permanently and consolidating its operations in Montreal, leading to the loss of 153 jobs. Stephane Brochu, CEO of AMLPC, said in the release that the restructuring is necessary to ensure the sustainability of the company’s wire drawing business.

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Ring of Fire road reaches milestone – by Steve Cornwell and Jessica Smith Cross (The Trillium – June 12, 2025)

https://www.thetrillium.ca/

It comes at a time when tensions over the Ring of Fire have heightened over opposition to the province’s ‘special economic zones’ legislation

Webequie First Nation has released an environmental report on a road between its community and mineral deposits in the Ring of Fire, a key step toward opening the region to mining development.

The draft environmental assessment (EA) and impact statement (IS) is for one of three different stretches of a road link to planned mining operations in the region. Marten Falls has released the draft EA/IS report for the stretch of road that connects its community, and the two First Nations are jointly leading the process for the Northern Road Link that connects the other two stretches, and is running behind the other two regulatory processes.

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Barrick Mining removes Mali gold complex from 2025 output forecast, sources say – by Divya Rajagopal and Portia Crowe (BNN Bloomberg/Reuters – June 12, 2025)

https://www.bnnbloomberg.ca/

TORONTO/DAKAR — Barrick Mining has removed its Mali gold complex from its overall output forecast for 2025, four sources told Reuters, adding to fallout from a two-year dispute over new mining legislation aimed at boosting the West African country’s revenue.

Operations at the Loulo-Gounkoto gold complex, one of the Canadian miner’s largest gold assets in Africa, have been suspended since January after the military-led government blocked gold exports by the world’s third-largest miner of the precious metal, detained staff and seized three metric tons of stock during separate negotiations over a new mining contract with Barrick.

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Demand for energy to soar 44 per cent from now to 2050, OPEC head says – by Emma Graney (Globe and Mail – June 11, 2025)

https://www.theglobeandmail.com/

There is no oil demand peak on the horizon, the head of the Organization of Petroleum Exporting Countries says, taking aim at a “flip-flop” in policy from the International Energy Agency, which he says has undercut crucial investments in the oil and gas sector.

Haitham al-Ghais, the secretary-general of OPEC, said Tuesday at the Global Energy Show in Calgary that the group projects global oil demand will surpass 120 million barrels a day by 2050. “In our long-term projections, we see the forecast that global primary energy demand is going to increase by a staggering 44 per cent from now to 2050,” he said.

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‘I want to go home’: Raging wildfires threaten their Northern Ontario community. Now they’re grappling with life in Toronto hotels – by Marco Chown Oved (Toronto Star – June 11, 2025)

https://www.thestar.com/

How do you uproot an entire community and ensure it doesn’t fall apart? How do you help neighbours when they’re stressed and living in cramped confines far from home? How do you give structure to the kids? How do you keep hopes high?

These are not the kinds of questions Chief Leonard Mamakeesic thought he’d be grappling with 10 days ago, when his fly-in community of Deer Lake First Nation was surrounded by wildfire and their only means of escape — the airport — was unable to operate due to the thick smoke.

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Endeavour Mining in ‘unique position’ to deliver both high yields and growth: CEO – by Jordan Fleguel (BNN Bloomberg – June 11, 2025)

https://www.bnnbloomberg.ca/

The head of Endeavour Mining says the gold producer, which operates mainly in West Africa, will continue to return significant capital to its shareholders while growing its portfolio of low-cost, high-yield mining assets in the region.

“We’re a big player in the world’s largest producer of gold,” Ian Cockerill, the U.K.-based company’s CEO, told BNN Bloomberg in a Wednesday interview. “In the last eight years, we’ve delivered five projects on time and on budget, much quicker than anywhere else, so in terms of a place to work and operate, it’s great.

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US Interior publicly backs rare earth mine next to Mountain Pass – by (Mining.com – June 10, 2025)

https://www.mining.com/

Dateline Resources has gained further political support in its bid to develop what could be America’s second rare earth mine following the public backing of US Secretary of the Interior Doug Burgum. Speaking to Fox News on Sunday, Burgum called the revival of the Colosseum mine project in California a “pivotal step” towards bolstering America’s supply of critical minerals.

This endorsement, says project owner Dateline, “underscores the strategic importance of Colosseum in reducing US reliance on overseas sources for rare earth elements.” It follows an earlier approval by the Interior Department of the company’s existing mining plan.

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Gold poised for new highs by year-end as economic uncertainty supports bullish outlook – Capitalight’s Schieven – by Neils Christensen (Kitco News – June 10, 2025)

https://www.kitco.com/

(Kitco News) – The gold market may be caught in a holding pattern through the summer, but its ability to maintain critical support at elevated levels suggests that it’s only a matter of time before it retests April’s all-time highs, according to one market strategist.

In a recent interview with Kitco News, Chantelle Schieven, Managing Director at Capitalight Research, said it could be difficult for gold to reach new highs as the U.S. economy and labor market remain fairly resilient. She also noted that inflation pressures, while elevated, remain relatively contained—for now.

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Industry Minister Joly signals action on steel dumping into Canada coming – by Niall McGee (Globe and Mail – June 7, 2025)

https://www.theglobeandmail.com/

Industry Minister Mélanie Joly says a crackdown on the dumping of cheap foreign steel into Canada is coming – a move that will help cushion the blow for the country’s big three steel producers that have been hit with U.S. President Donald Trump’s 50-per-cent tariffs.

Algoma Steel Group Inc. chief executive Michael Garcia has argued on multiple occasions that mills from China, South Korea, Malaysia, India, Vietnam, the Middle East and Turkey regularly dump steel into Canada and make it nearly impossible for the company to compete in its home market.

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BC mining must deliver on its potential: PwC – by Colin McClelland (Northern Miner – June 10, 2025)

https://www.northernminer.com/

British Columbia’s mining industry is entering a crucial stage rich in opportunity for critical minerals and gold, but it’s still dogged by slow permitting and widespread uncertainty, according to global accounting firm PricewaterhouseCoopers.

Revenue from B.C. mining operations fell to $13.9 billion in 2024 from $15.8 billion in 2023, largely due to a drop in metallurgical coal prices, PwC says in its 57th annual BC Mine report, released this month. Coal remains the province’s largest mining revenue contributor at 52% – with 95% of that coal for steelmaking – but volatility continues to challenge the mining sector.

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Freeport CEO says tariffs threaten to hinder US copper mining – by Jacob Lorinc (Financial Post/Bloomberg – June 10, 2025)

https://financialpost.com/

The threat of US levies on copper imports has been a boon for Freeport-McMoRan Inc., with North America’s top producer cashing in on selling the metal at a premium. Still, the firm’s top boss warns that broader tariffs could hurt an industry President Donald Trump is trying to help.

“If global growth is disrupted, that could lead to an impact on copper prices,” chief executive officer Kathleen Quirk said in an interview at Freeport’s Phoenix headquarters. “Ironically, if we’re trying to build up the US copper industry, slowing GDP growth, and inflation, could put a lot of pressure on mines here.”

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Auto companies ‘in full panic’ over rare-earths bottleneck – by Kalea Hall (CBC News Windsor – June 09, 2025)

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

Industry’s efforts to find alternative magnet supplies have floundered

Frank Eckard, CEO of a German magnet maker, has been fielding a flood of calls in recent weeks. Exasperated automakers and parts suppliers have been desperate to find alternative sources of magnets, which are in short supply due to Chinese export curbs.

Some told Eckard their factories could be idled by mid-July without backup magnet supplies. “The whole car industry is in full panic,” said Eckard, CEO of Magnosphere, based in Troisdorf, Germany. “They are willing to pay any price.”

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Breaking down what’s in Ontario’s Bill 5, and why it’s controversial – by Marc Benoit (Cornwall Standard Freeholder – June 10, 2025)

https://www.standard-freeholder.com/

Ontario’s Bill 5 has been drawing a lot of attention and making headlines this spring. What’s in the bill that’s so concerning?

A new provincial law aimed at “unleashing” Ontario’s economy will also directly impact local governance, labour laws and environmental protections, which some say will open a “Pandora’s box of bad consequences.”

The bill, was granted royal assent on June 5 and is officially titled the Protect Ontario by Unleashing our Economy Act, 2025. Bill 5 presents a comprehensive set of changes to various aspects of Ontario law, with major implications for the province. The new law amends several key pieces of legislation with the goal of fast-tracking economic development, specifically mining in key regions of the province, like the Ring of Fire located roughly 500 kilometres north of Thunder Bay.

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Carney lays out defence boost, says era of U.S. dominance over – by Steven Chase and Jeff Gray (Globe and Mail – June 10, 2025)

https://www.theglobeandmail.com/

Prime Minister Mark Carney said Canada is too reliant on the United States for security as he announced a significant boost in military spending to meet NATO’s 2-per-cent military expenditure target this fiscal year, five years ahead of schedule.

Declaring that the U.S.’s predominant role on the world stage “is a thing of the past,” Mr. Carney said Canada must take matters into its own hands and work more closely with European allies. He said his government will increase the 2025-26 allocation for the Department of National Defence by $9.3-billion, on top of its existing budget of just under $40-billion.

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Two First Nations working on roads to Ring of Fire do not support new mining law – Liam Casey (Canadian Press/Financial Post – June 9, 2025)

https://financialpost.com/

The legislation allows Ontario to suspend provincial and municipal laws by creating so-called special economic zones for certain projects

TORONTO — Two First Nations that signed deals with the provincial government to improve access to the Ring of Fire are speaking out against a new Ontario law that seeks to ease mineral extraction in the northern region.

Aroland First Nation Chief Sonny Gagnon said his community objects to the law known as Bill 5, which seeks to speed up development in the face of pressure from the United States. The legislation passed last week and allows Ontario to suspend provincial and municipal laws by creating so-called special economic zones for certain projects it chooses, such as new mines.

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