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Canadian Media Resource Articles

Gold’s safe-haven bid strengthens amid recession fears, global silver coin sales collapse – Heraeus – by Ernest Hoffman (Kitco News – March 17, 2025)

https://www.kitco.com/

(Kitco News) – The stock market selloff and mounting fears of a recession are driving demand for gold, while sales of silver coins are in freefall as high costs and markups discourage buyers, according to precious metals analysts at Heraeus. In their latest precious metals update, the analysts noted that the market’s current risk-off posture is boosting gold’s safe-haven appeal.

“Concerns over a potential US recession are back in focus, with equity markets showing signs of strain,” they wrote. “The S&P 500 is now 2% lower than at 5 November 2024, when Donald Trump was elected, as persistent uncertainty over trade relations weighs on investor sentiment. On 7 March, hedge funds unwound single-stock positions at levels comparable to March 2020, reflecting a notable shift toward risk reduction.”

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Northwestern Ontario’s Ring of Fire central in U.S.-Canada trade war: experts – by Michelle Allan (CBC News Thunder Bay – March 17, 2025)

https://www.cbc.ca/news/canada/thunder-bay/

How a remote peat bog became a key figure in a global political conflict

The Ring of Fire in northwestern Ontario has become a key figure in the battle to control critical minerals, which experts say is the heart of U.S. President Donald Trump’s threats to annex Canada.

While a remote Ontario peat bog may not be the stage that first comes to mind when picturing the geopolitical conflict, the critical minerals beneath it are essential to renewable energy and digital technology.

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Glencore overhauls embattled Canadian smelters as margins plunge – by Julian Luk and Thomas Biesheuvel (Bloomberg News – March 14, 2025)

https://www.bnnbloomberg.ca/

Glencore Plc is doubling down on a cost-cutting drive at its Canadian copper and zinc plants following job cuts last year, in a further overhaul of its global smelting business following a collapse in processing margins.

The company’s copper plants in Quebec — as well as several recycling sites in the US — will be absorbed into the miner’s global zinc smelting division, with the aim of increasing business synergies and operational efficiency, according to internal memos seen by Bloomberg.

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Canada exempts Paladin’s PLS from non-resident ownership policy (Mining Weekly – March 17, 2025)

https://www.miningweekly.com/

Uranium miner and developer Paladin Energy has been granted an exemption from Canada’s Non-Resident Ownership Policy (NROP) for its Patterson Lake South (PLS) uranium project in Saskatchewan. The exemption allows Paladin, which is listed on the ASX and TSX, to maintain a 100% controlling interest in PLS as it moves toward commercial production.

The exemption was secured in connection with Paladin’s acquisition of Fission Uranium, which was completed in late December.

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Barrick fined for releasing excessive cobalt into British Columbia river – by Staff (Mining.com – March 15, 2025)

https://www.mining.com/

Barrick Gold has been hit with a C$114,750 (approximately $79,800) fine for its repeated, excessive discharge of toxic materials from the now-decommissioned Nickel Plate gold mine located 3 km away from Hedley, BC.

The decision follows an inspection by provincial inspectors who found that the former underground and open pit mine had been releasing mine waste containing high concentrations of cobalt into Hedley Creek, which flows into the Similkameen River. This occurred on 17 separate occasions between 2021 and 2023, the inspectors found.

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In a world rattled by Trump, Greenland’s election finds itself in a curious place: centre stage – by Paul Waldie (Globe and Mail – March 10, 2025)

https://www.theglobeandmail.com/

It’s hard to imagine that a regional election involving 41,000 voters selecting 31 MPs would merit much international attention. But all eyes will be on Greenland on Tuesday when voters across the island elect a new parliament and grapple with the question of sovereignty.

Ever since U.S. President Donald Trump took office in January, Greenland’s future has been thrown into question. Mr. Trump has demanded that the U.S. annex the ice-covered territory, which has been part of Denmark for centuries.

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Indigenous Services minister says economic reconciliation essential amid Canada-U.S. trade war – by Sarah Law (CBC News Thunder Bay – March 17, 2025)

https://www.cbc.ca/news/canada/thunder-bay/

Education, training for Indigenous people key to closing productivity gap: Hajdu

As the new federal government grapples with how to tackle the growing trade war between Canada and the U.S., Patty Hajdu says a key opportunity to strengthen domestic economies lies with reconciliation.

While more than a dozen positions have been cut in Prime Minister Mark Carney’s lean 24-person cabinet — down from 39 members under former Prime Minister Justin Trudeau — Hajdu has maintained her role as minister of Indigenous Services.

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Gold price breaks $3,000 price barrier: What’s driving the rally and what’s next? – by Neils Christensen (Kitco News – March 14, 2025)

https://www.kitco.com/

(Kitco News) – The gold market has hit another major milestone on Friday morning with the spot market briefly breaking above $3,000 an ounce to set a new all-time high of $3,005.04 just as many North American traders had their first cup of coffee.

Gold’s breakout started late Thursday after consolidating around $2,900 for the last three weeks. Overnight, the yellow metal traded in a narrow range but hit a high of $2,999.99. While gold is down from its session highs, it is still holding on to modest gains. Spot gold last traded at $2,999.10 an ounce, up 0.35% on the day.

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Tariffs, uncertainty, driving nations to tighten grip on critical minerals – by Cecilia Jamasmie (Mining.com – March 14, 2025)

https://www.mining.com/

Tariffs and markets swings are pushing developing countries rich in critical minerals such as cobalt, copper, gold, and lithium, to tighten their grip on their resources more than ever before, a new analysis from risk intelligence firm Verisk Maplecroft shows.

This trend, which has accelerated over the past five years, poses major challenges for mining companies and coincides with intensifying geopolitical competition for raw materials essential to global industries.

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Opinion: No, Trump isn’t out to get our resources. It’s worse than that – by Doug Saunders (Globe and Mail – March 14, 2025)

https://www.theglobeandmail.com/

One popular theory about Donald Trump’s seemingly random acts of economic punishment and threats of imperialistic conquest is that they’re part of a calculated resource grab. In this view, the U.S. President is engaged in a plan to seize rare and valuable sources of underground wealth for the enrichment of his country and its companies.

After all, most of the places Mr. Trump is targeting with threats of annexation or abandonment, including Ukraine, Greenland and Canada, are known for having a lot of potentially valuable resources.

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Trump family fortune began in a Canadian brothel-hotel – by Fakiha Baig (Canadian Press/Bloomberg – March 13, 2025)

https://www.bnnbloomberg.ca/

In one of history’s little-known ironies, the Maple Leaf country pushing back against Donald Trump’s annexation bid is also host to a tiny, remote restaurant and brothel that helped launch the U.S. president’s family fortune more than 100 years ago.

To find it, look west. Way west. On a quiet, remote trail in British Columbia near the Yukon boundary sits a wooden facade resembling the brothel and restaurant Trump’s grandfather built at the turn of the century.

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Thunder Bay lithium refinery would create ‘hundreds’ of jobs: Fedeli (CBC News Thunder Bay – March 13, 2025)

https://www.cbc.ca/news/canada/thunder-bay/

Frontier Lithium plans to build facility on Mission Island

A proposed lithium refinery in Thunder Bay, Ont., has taken a big step forward, getting support from both the provincial and federal governments.

Frontier Lithium intends to build the facility on Mission Island. It would convert lithium from the company’s PAK mine, located north of Red Lake, into about 20,000 tonnes of lithium salts annually.

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NexGold announces positive feasibility study update for Goliath gold complex – by Staff (Canadian Mining Journal – March 13, 2025)

https://www.canadianminingjournal.com/

NexGold Mining announce potential positive outcomes as itworks towards the completion of its feasibility study for its Goliath gold complex located in the Wabigoon Greenstone belt in northwestern Ontario. NexGold Mining is a gold-focused company with assets in Canada and Alaska. The company expects the feasibility study in the second quarter of this year.

The Goliath gold complex project utilized a combination of open-pit and underground mining methods to extract gold ore. The company’s feasibility study is being prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects.

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Bolivia’s lithium deals with China, Russia in limbo – by Cecilia Jamasmie (Mining.com – March 13, 2025)

https://www.mining.com/

Bolivia is facing mounting public backlash over contracts signed with Chinese and Russian companies late last year to exploit its vast lithium reserves, with community groups arguing the agreements offer no real benefits to locals.

The controversy led the Bolivian Chamber of Deputies to suspend parliamentary discussions on the deals in February, pending “a thorough information-sharing process with civil society is completed.”

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‘It’s just been chaos’: Steelmakers in Hamilton begin to feel the pain of Trump’s tariffs – by Niall McGee (Globe and Mail – March 13, 2025)

https://www.theglobeandmail.com/

Well before U.S. President Donald Trump followed through on his threat to levy steep tariffs on imports of Canadian steel, Ontario’s National Steel Car was already feeling some pain.

Starting in mid-November, with the newly elected Mr. Trump at that point only threatening to impose tariffs on Canada, a major customer for a rail car put its order on hold, said Frank Crowder, president of USW Local 7135, the union that represents the workers at the company.

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