Canadian Media Resource Articles – Page 18

Tariffs and talk of annexation. Northern Ontario braces for Trump’s inauguration – by Jonathan Migneault (CBC News Sudbury – January 20, 2025)

January 20, 2025

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

A mining supply company based in Sudbury says it’s been preparing for potential tariffs for months

Ahead of Donald Trump’s inauguration as U.S. president, a mining supply company based in Sudbury says it’s preparing for his promised tariffs on Canadian exports. Leading up to his inauguration, Trump has said he would impose a 25 per cent tariff on all Canadian exports to the United States.

“This is not a fire drill. This is coming,” said Tas Mohamed, the CEO of Railveyor Technologies, a company that designs and builds automated rail systems to haul ore from mines. As soon as Trump was named the Republican nominee in the presidential race, Mohamed said she took action to reduce the potential impact of tariffs on her business.

Amarc stock doubles on gold-copper find at JOY in BC – by Staff (Northern Miner – January 20, 2025)

January 20, 2025

Global mining news

Amarc Resources (TSXV: AHR; US-OTC: AXREF) has more than doubled its share price after announcing a high-grade discovery at its JOY copper-gold project in north-central British Columbia.

The discovery resulted from initial drilling of the Northwest Gossan (NWG) target area, located at the end of a possible 15-km mineralized trend within the 495-sq.-km JOY district that had not been previously drill tested. Work programs are being fully funded by copper giant Freeport-McMoRan (NYSE: FCX), which could earn an interest in the JOY project while Amarc serves as the program operator.

Sudbury could be part of massive mining merger – if it occurs – by Staff (Sudbury Star – January 19, 2025)

January 20, 2025

https://www.thesudburystar.com/

Rio Tinto Group and Glencore Plc have held merger discussions, news agency says, although they are not currently active

Could some of Sudbury’s mining operations be part of another mega-mining deal? Bloomberg News reports that Rio Tinto Group and Glencore Plc have held early-stage talks about combining their businesses to create a behemoth to rival longstanding industry titan BHP Group.

The discussions took place as recently as late last year but are not currently active, according to people familiar with the matter, who asked not to be identified discussing private information.

Opinion: Big Mining’s takeover mania seems on break. It won’t last long as copper demand soars – by Eric Reguly (Globe and Mail – January 18, 2025)

January 20, 2025

https://www.theglobeandmail.com/

In the mining industry, mass creates mass. As mining companies get bigger, their expenses and debts rise, requiring more revenues and cash flow to cover their costs and occasionally epic cost overruns. So they devour their rivals, which also eliminates the hassle of building mines in unsavoury parts of the planet.

So it has always been, which is why a small number of giants dominate the global industry. BHP and Rio Tinto have market valuations of US$100-billion or more. Further down the list, though still enormous, are Glencore, Vale, Anglo American and Freeport-McMoRan. Soon there will be fewer. Another round of mergers and acquisitions seems almost certain this year.

Precious metals breathe a sigh of relief as Trump signals delay in tariffs ahead of inauguration – by Neils Christensen (Kitco News – Janaury 20, 2025)

January 20, 2025

https://www.kitco.com/

(Kitco News) – Gold and silver markets could start to breathe a little easier as U.S. markets are closed in recognition of Martin Luther King Jr. Day, and it appears that soon-to-be President Donald Trump could delay the implementation of tariffs.

Trump will be sworn in Monday as America’s 47th president and gold and silver have seen extreme volatility in anticipation that he would enact significant tariffs to support American manufacturing on day one.

Cutting off oil is Canada’s nuclear option. What would it mean if it happens? – by Evan Dyer (CBC News Politics – January 19, 2025)

January 20, 2025

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

Crude oil tariffs in response to Trump’s threats would cause pain on both sides

In Canada’s arsenal of possible responses to a Trump tariff, the nuclear option is the threat to withhold, reduce or place export tariffs on Canadian energy. Already, the mere suggestion of such a tactic has caused a split between the government of Alberta, on one side, and the governments of Canada and all other provinces on the other.

Tariffs on imports from the U.S. have the potential to cause pain to certain industries and regions, but Prime Minister Justin Trudeau himself has acknowledged that the effect of Canada’s import tariffs would be diluted by the size of the U.S. population and economy.

Rio Tinto and Glencore discuss potential merger – by Frik Els (Mining.com – January 16, 2025)

January 16, 2025

https://www.mining.com/

Rio Tinto and Glencore have been discussing combining their businesses, according to people familiar with the matter, Bloomberg reported.

The Australian mining giant and the Swiss commodities trader and miner have recently held “early-stage talks” about a deal, according to the newswire adding that “it’s unclear whether the talks are still live.” Rio Tinto is the world’s second most valuable mining company and shares with its Melbourne-based neighbour BHP the distinction of being valued at more than $100 billion, but only just.

Natural Resources Minister pitches joint Canada-U.S. investment in Teck’s germanium operations – by Niall McGee,Brent Jang and Steven Chase (Globe and Mail – January 16, 2025)

January 16, 2025

https://www.theglobeandmail.com/

Natural Resources Minister Jonathan Wilkinson is pitching a joint investment with the United States to bolster Teck Resources Ltd.’s production of the critical mineral germanium.

Vancouver-based Teck produces germanium at its Trail smelter in British Columbia’s Kootenay region as a byproduct of zinc mining in Alaska. Germanium is used in fibre-optic networks, infrared vision systems and solar panels.

Trudeau, Canada’s Premiers Spar Over Using Resources as Trade Weapon – by Brian Platt and Laura Dhillon Kane (Bloomberg News/Financial Post – January 15, 2025)

January 16, 2025

https://financialpost.com/

Prime Minister Justin Trudeau and the premiers of Canada’s provinces are in high-stakes talks over how far to go in using oil and other commodities as a weapon if the US starts a regional trade war.

(Bloomberg) — Prime Minister Justin Trudeau and the premiers of Canada’s provinces are in high-stakes talks over how far to go in using oil and other commodities as a weapon if the US starts a regional trade war.

Trudeau is meeting with the leaders of Canada’s 13 provinces and territories in Ottawa on Wednesday, trying to get on the same page over how to respond if US President-elect Donald Trump follows through on his vow to impose 25% tariffs on all goods the US imports from Canada.

Why critical minerals mined in B.C. could stop being exported to the U.S. amid Trump tariffs – by Akshay Kulkarni (CBC News British Columbia – January 15, 2025)

January 16, 2025

https://www.cbc.ca/news/canada/british-columbia/

B.C. manufactures or has access to 16 of 50 critical minerals the U.S. considers vital for national security

Economists say B.C.’s mining industry could play a major role if proposed tariffs by U.S. president-elect Donald Trump go through, after Premier David Eby hinted that critical minerals manufactured in the province could be subject to an export ban.

Eby said Tuesday the province is working on a strategy to fight the 25 per cent tariffs on Canadian goods proposed by Trump. The U.S. president-elect is threatening the measure in response to what he says is Canada’s inability to tackle illegal immigration and drug smuggling across the Canada-U.S. border.

In Namibia, a Canadian copper company leaves a legacy of toxic waste – by Geoffrey York and Samuel Schlaefli (Globe and Mail – January 15, 2025)

January 16, 2025

https://www.theglobeandmail.com/

Sickness has been common for years in Tsumeb, where Dundee Precious Metals was the biggest employer for more than a decade. Tests have now found the soil is contaminated with arsenic and other heavy metals

In the citrus orchards above the Namibian town, workers often fall sick. They say they feel a burning sensation in their eyes and throats and a metallic taste in their mouths as the wind blows across from the copper smelter a few kilometres away.

“When the gas is coming from that side, we get headaches and dizziness, and sometimes you feel like you want to throw up,” says Festus Gawab, who has worked for three years on a citrus farm near Tsumeb, watering the orange and lemon trees.

Canadian Mining Hall of Fame adds Boyd, Giustra, MacLean, Sheahan – by Colin McClelland (Nothern Miner – January 13, 2025)

January 14, 2025

https://www.northernminer.com/

Sean Boyd, the chair of Agnico Eagle Mines recalled when the company’s performance prompted CNN’s Mad Money host Jim Cramer to eat a crow sandwich on air. Boyd’s mother was watching. “That man wasn’t very nice to you today,” she said.

Cramer was recanting his conviction after only a poor quarter. Boyd never wavered in his commitment and actually booked the TV appearance to avoid accusations of ducking out when times were tough. “The producer said ‘Well, thanks for coming on, at least you got to give your side of the story,’” Boyd recounted. “And I said, ‘Remember: I called you,’ and he said, ‘That’s why you’re coming on again.’”

Gold price struggles as U.S. producers see costs rise sharply in 2024 – by Neils Christensen (Kitco News – January 14, 2025)

January 14, 2025

https://www.kitco.com/

(Kitco News) – Weaker producer inflation pressures are introducing fresh volatility to the gold market, as some economists suggest the data may not be sufficient to support expectations for additional monetary policy easing from the Federal Reserve.

The headline Producer Price Index (PPI) rose 0.2% in December, following November’s 0.4% increase, the U.S. Labor Department announced on Tuesday. The latest inflation data came in slightly weaker than expected, as economists had anticipated another 0.4% increase.

FPX Nickel releases optimistic economic impact numbers for its Baptiste project – by Staff (Canadian Mining Journal – January 13, 2025)

January 14, 2025

https://www.canadianminingjournal.com/

FPX Nickel released an economic impact study for its Baptiste nickel project in central British Columbia. The company engaged Mansfield Consulting to assess the potential regional, provincial, and national economic impact of the Baptiste Nickel Project.

The impact study is based on the findings of FPX Nickel’s pre-feasibility study from September 2023. Company studies indicate the mine has a life of over 30 years.

Ontario Pitches Trump on Mining Deals With Tariffs Looming – by Jacob Lorinc (Bloomberg News – January 13, 2025)

January 14, 2025

https://www.bnnbloomberg.ca/

(Bloomberg) — The leader of Canada’s most populous province is pitching a “renewed strategic alliance” with the US on critical minerals, as President-elect Donald Trump threatens crippling tariffs on the northern nation.

Ontario Premier Doug Ford unveiled Monday a new plank in a broader strategy he calls “Fortress Am-Can.” The plan aims to invest in and build out a critical minerals supply chain in North America. It advocates for expanding capacity to process metals and minerals mined on the continent, while accelerating federal and provincial timelines to permit and approve mining projects.