Canadian Media Resource Articles – Page 16

Gold sets all-time high on trade war fears – by Frederic Tomesco (Northern Miner – January 31, 2025)

January 31, 2025

https://www.northernminer.com/

Gold prices hit a record high Friday, topping US$2,800 an oz. amid growing concern that U.S. President Donald Trump will follow through with his threat to slap multiple nations with import tariffs.Spot gold rose about 0.4% to US $2,808.38 per oz. in early afternoon trading, Trading Economics data show. That takes the metal’s advance to about 5.7% for the month and 37% over the last year.

Trump reiterated Thursday that he will likely impose tariffs on countries such as Canada, China and Mexico as soon as Saturday. Even so, the Wall Street Journal reported Friday that Trump advisors are looking for ways to avoid enacting across-the-board levies on Canada and Mexico, the U.S.’s two largest trading partners.

Donkin coal mine will likely restart production when world prices rise, says U.S. analyst – by Tom Ayers (CBC News Nova Scotia – January 31, 2025)

January 31, 2025

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

Industry observer says mine owners have invested hundreds of millions and will want to make that back

A U.S.-based analyst says he believes the undersea coal mine in Donkin, N.S., will reopen someday. Joe Aldina, who writes for thecoaltrader.com, said the Cline Group, whose company Kameron Coal owns the Donkin mine, has made significant investments there that it will likely want to recover.

“They’ve invested a few hundred million dollars US in [capital expenditures] in that mine and that was the last project that Chris Cline, the founder of the company, really put himself into, so I don’t see them walking away from that,” he said.

Automotive News: Critical minerals for EVs could provide Canada leverage amid Trump tariff threats – by David Kennedy (Automotive News – January 30, 2025)

January 31, 2025

https://finance.yahoo.com/

U.S. President Donald Trump’s claim that the United States does not need Canadian imports would struggle to hold up in a trade war, with Canadian critical minerals for electric vehicles and other industrial uses among the products that would be tough to replace, according to recent analyses.

About $40 billion (CND) in critical minerals cross the Canada-U.S. border each year, according to Accelerate, an industry alliance advocating for Canada’s EV supply chain. That includes billions in copper, nickel and aluminum, and growing volumes of other metals vital to the automotive, defence and energy sectors.

Gold hits record highs as analysts now eye $3,000 target, silver price rallies 4% – by Neils Christensen (Kitco News – January 30, 2025)

January 30, 2025

https://www.kitco.com/

(Kitco News) – The gold market continues to attract attention as it prepares to end the first month of 2025 at a record high, following the trend of 40 all-time highs in 2024.

With bullish momentum clearly picking up, some analysts have said that this is only the start of what looks to be a bigger move. In a recent interview with Kitco News, Michele Schneider, Chief Strategist at MarketGauge, said that if gold sees a clear break above $2,800 an ounce, it can easily reach $3,000.

China funnelled $57 billion to control critical mineral supply chain – by Cecilia Jamasmie (Mining.com – January 29, 2025)

January 30, 2025

https://www.mining.com/

China has systematically extended its control over critical minerals essential for the global energy transition and net-zero emissions, using a network of at least 26 state-backed financial institutions over the past two decades, a new report shows.

The database, compiled by AidData at the College of William & Mary in the United States, reveals how Beijing has leveraged an intricate web of financial mechanisms to dominate the global supply chain for critical minerals. These minerals — including copper, cobalt, nickel, lithium and rare earth elements — are vital for emerging technologies such as electric vehicle batteries and solar panels.

Ontario OKs $90M to upgrade Ring of Fire region – by Colin McClelland (Northern Miner – Janaury 29, 2025)

January 30, 2025

https://www.northernminer.com/

Queen’s Park and Aroland First Nation have signed a multi-million-dollar agreement to plan a transmission line in the mineral-rich Ring of Fire area in the province’s north. The deal also includes support for upgrades to Anaconda and Painter Lake Roads, which are important connections on the road, which is under study, to the Ring of Fire, the government said Tuesday.

The Ring of Fire, known for vast potential but only a few projects, lies about 540 km northeast of Thunder Bay. The hydro line is planned near Aroland First Nation, located at what is known as the “gateway” to the Ring of Fire, 60 km north of Geraldton on Highway 584/643.

Canada becomes a major iron ore producer – by Ailbhe Goodbody (CIM Magazine – January 17, 2025)

January 30, 2025

https://magazine.cim.org/en/

How the Labrador Trough became the epicentre of Canadian iron ore mining in the 1950s

The first reference to iron in the Labrador Trough, a geologic belt hosting world-class iron deposits that extends for approximately 1,100 kilometres through Labrador and Quebec, was made by Father Louis Babel, who travelled in the area from 1866 to 1870, according to H.E. Neal (Explor. Mining Geol., Vol. 9, No. 2, pp. 113-121, 2000). A.P. Low was the first geologist to recognize iron mineralization that was similar to that found in the northern United States while he was on a preliminary reconnaissance survey in 1893 to 1894.

“However, it was not until 1929 that the first iron ore discoveries were made by J.E. Gill and W. F. James in the Burnt Creek (Knob Lake) area,” wrote R.D. Westervelt (CIM Bulletin, November 1957). These iron ore discoveries led to the formation of the Labrador Mining and Exploration Company (LME) in 1936 to explore a 20,000-square-mile concession in Labrador, and of the Hollinger North Shore Exploration Company in 1941 to explore an adjoining 3,900-square-mile concession in Quebec.

Saudi Arabia of lithium: The future of mining in Afghanistan and Pakistan – by Gordon Feller (Canadian Mining Journal – December 19, 2024)

January 30, 2025

https://www.canadianminingjournal.com/

Afghanistan and Pakistan possess significant mineral resources that have attracted China’s interest. This fact has shaped what China does to grow its broader economic and geopolitical strategy in the region. This article provides a short survey, for both countries, of the mineral deposits, current mining production, and China’s efforts to increase its influence.

Afghanistan’s mineral resources

Afghanistan is estimated to have mineral deposits worth up to US$1 trillion, including vast reserves of copper, iron, gold, lithium, and rare earth elements. Some of the key mineral resources include the following:

Cameco hopes to repeat its 2018 success in fending off Trump uranium tariffs as threat looms once more – by Niall McGee (Globe and Mail – January 28, 2025)

January 30, 2025

https://www.theglobeandmail.com/

Canada’s Cameco Corp. fought off U.S. tariffs on uranium during President Donald Trump’s first term and it hopes to do so again as the global uranium heavyweight pushes for cooler heads to prevail in Washington.

After he was elected for a second term last fall, Mr. Trump said he was planning to impose 25-per-cent tariffs on all imports of Canadian goods. On the day he was inaugurated, he said those tariffs could take effect on Saturday. White House press secretary Karoline Leavitt on Tuesday confirmed that Mr. Trump’s Saturday timeline for tariffs against Canada is still in the cards.

Water for Food voices concerns over coal mining’s impact on ag sector – by Alexandra Noad (Lethbridge Herald – January 30, 2025)

January 30, 2025

https://lethbridgeherald.com/

Southern Alberta is known for its vast farmland, which contributes billions of dollars to the economy and Chris Spearman fears the proposed Grassy Mountain Coal Mine will negatively impact the agri-food sector and southern Alberta.

Spearman, former Lethbridge mayor and a spokesman for the group Water For Food, says he was alarmed at the Dec. 20 announcement and is wondering why the Albertan government would jeopardize the economy for a project that has a limited life span.

‘These divide-and-conquer tactics are destroying us’: Matawa First Nations reflect on Doug Ford’s Ring of Fire legacy – by Jon Thompson (Ricochet Media – January 29, 2025)

January 30, 2025

Front

The same day Premier Doug Ford called an early election, his government announced it had reached a $20-million deal with Aroland First Nation that will, “build roads along the entire route to the Ring of Fire.”

The Shared Prosperity Agreement includes $20 million for infrastructure and new energy transmission projects in Aroland. Ontario promises to upgrade existing roads to the community, located 60 kilometres north of Geraldton, and build a road from Aroland northward to Marten Falls First Nation. Ontario also made a vague commitment to support Aroland in vying for a smelter, and it intends to meet further over potential resource-benefit sharing.

First Nation in Ontario signs $20M Ring of Fire deal – by Karyn Pugliese (APTN News – January 28, 2025)

January 28, 2025

Home

Aroland First Nation has signed a deal worth more than $20 million to develop the Ring of Fire, with the money set for community infrastructure projects related to mineral development, business development and community wellness. “Our line is pro-development,” said Chief Sonny Gagnon. “We have an opportunity with my community to attain the skills that we need to be self-sustaining, to get off government funding.”

Nestled in the remote expanse of the James Bay Lowlands, the Ring of Fire is a mineral-rich region, with long-term potential to produce chromite, cobalt, nickel, copper and platinum, critical to Ontario’s expansion into new economic development.

Winsome Resources begins permitting for Adina lithium project in northern Quebec – by Staff (Canadian Mining Journal – January 27, 2025)

January 28, 2025

https://www.canadianminingjournal.com/

Australia-based Winsome Resources (ASX: WR1) – a lithium exploration and development company – has submitted the preliminary information statement for its Adina Lithium Mining project with the proper provincial authorities that oversee mining project developments located in self-governing Indigenous communities in Northern Quebec that are signatories to the James Bay and Northern Quebec Agreement (JBNQA).

Winsome’s filing represents a milestone as it formally commences the provincial regulatory process in the James Bay region associated with permitting the proposed mine at Adina, as well as the proposed modifications to the Renard operation. Indigenous communities in the region refer to the James Bay region as Eeyou Istchee.

Uranium price falls as DeepSeek disrupts tech – by Blair McBride (Northern Miner – January 28, 2025)

January 28, 2025

Global mining news

Chinese artificial intelligence company DeepSeek is making a splash in the tech world with downloads surpassing ChatGPT’s, pushing major tech stocks down, while prices of uranium – which could help power the AI revolution – declined 5% Monday night.

The AI chatbot DeepSeek, founded by tech entrepreneur Liang Wenfeng, has rocketed to the top of iPhone’s app downloads list, ahead of ChatGPT, Threads and Google. The chatbot has achieved that even though its AI model, known as R1, was made with leaner resources than other comparable programs. Top AI firms reportedly train their models with supercomputers using as many as 16,000 integrated circuits, while DeepSeek uses only around 2,000 chips from Nvidia’s (NASDAQ: NVDA) H800 series.

Rwandan-backed rebels capture Goma in dramatic escalation of Congo war – by Geoffrey York (Globe and Mail – January 28, 2025)

January 28, 2025

https://www.theglobeandmail.com/

A heavily armed Rwandan-backed militia marched into the strategic city of Goma in eastern Congo on Monday, seizing control of most of the regional hub in defiance of United Nations demands for its withdrawal.

Goma, a crowded city of two million residents and several hundred thousand refugees near the Rwandan border, has been under siege by the M23 militia and its Rwandan allies for the past year. The M23 offensive, including frequent attacks on civilians, has forced more than a million people to flee from their homes across the eastern region of the Democratic Republic of the Congo, with many seeking shelter in Goma.