Canadian Media Resource Articles – Page 2

Yamana’s Peter Marrone says gold miners will keep merging and tin is the next big thing – by Naimul Karim (Financial Post – January 24, 2023)

January 25, 2023

Yamana Gold Inc.’s Peter Marrone said the sale of the company he founded two decades ago to two Canadian rivals heralds a wave of gold mergers as executives and investors seek to maintain margins amid higher production costs and declining grades of the metal.

Marrone, currently Yamana’s executive chair, oversaw the company’s sale to Agnico Eagle Mines Ltd. and Pan American Silver Corp. last year for about US$4.8 billion. Marrone will leave the company when the deal closes, which is likely to take place next month.

Li-FT Power eyes Yellowknife for continent’s next big lithium resource – by Blair McBride (Northern Miner – January 23, 2023)

January 25, 2023

Global mining news

Yellowknife was founded on gold mining, and now lithium holds the potential of opening a new chapter for the Far North’s second largest city. Just a short drive east of Yellowknife and off the paved, all-season highway the Ingraham Trail, Vancouver-based explorer Li-FT Power (CSE: LIFT) is preparing to turn its drills on 13 targets it calls the Yellowknife Lithium Project.

“When you talk about the potential, it’s just really easy to see because the pegmatites stick out of the ground and you can fly over them, they go for 1.8 km, and you just see almost 100% exposure,” Francis MacDonald, CEO Li-FT said in an interview with The Northern Miner.

OPINION: Go big or go home: Canada will need to match U.S. EV subsidies to stay in the game – by Konrad Yakabuski (Globe and Mail – January 25, 2023)

January 25, 2023

https://www.theglobeandmail.com/

U.S. climate envoy John Kerry does not have much sympathy for other countries complaining about the massive subsidies President Joe Biden’s administration is offering to electric-vehicle and battery-component makers, as Washington seeks to break China’s dominance of the global EV supply chain.

“The reaction shouldn’t be ‘Oh my God, you shouldn’t be doing that, you’re putting us in an unfair position,’” Mr. Kerry said last week at the World Economic Forum in Davos, Switzerland. “Do it! Everybody’s got to do the same thing to accelerate this process even more.”

Remote Labrador location potential training ground for astronauts – by Hina Alam (Canadian Press/CBC News Newfoundland and Labrador – January 23, 2023)

January 25, 2023

https://www.cbc.ca/news/canada/newfoundland-labrador/

Conditions at Mistastin crater are kind of like the moon

When scientists determined in the mid-1970s that the Mistastin crater in Labrador had lunar-like properties, the last Apollo mission had flown and it was too late for astronauts to take advantage of the site for training.

But now, as Artemis astronauts prepare for the next moon mission, one Canadian expert says the remote crater could provide vital insight into what awaits them. Gordon Osinski, a professor in the department of Earth sciences at Western University in London, Ont., said Mistastin was found to be an impact crater in the mid-1970s.

‘Makes no sense to me’: Barrick CEO Mark Bristow says West’s deglobalization push a tragedy – by Naimul Karim (Financial Post – January 24, 2023)

January 25, 2023

https://financialpost.com/

The chief executive of one of the world’s largest mining companies says it makes “no sense” for Western nations to introduce policies and incentives that encourage deglobalization as a way to tackle the influence of authoritarian regimes in the energy sector when the world is already struggling to meet its climate goals.

Mark Bristow, who heads Toronto-based Barrick Gold Corp., said the United States’ Inflation Reduction Act (IRA), which offers up to a US$7,500 subsidy to companies that produce their electric vehicles (EVs) and source the materials for them in North America, was a “bit of an oxymoron” and encourages “exclusivity” rather than looking at a global solution for the shift away from fossil fuels.

Police recover $1 million worth of gold and silver after teenagers get caught mid-heist in Toronto – by Anna Golubova (Kitco News – January 23, 2023)

January 25, 2023

https://www.kitco.com/

(Kitco News) Police in Toronto recovered $967,811 (CAD $1.295 million) worth of precious metals after four teenage boys got caught “in the act” of robbing a store last month.

According to the police, three masked teenagers entered a precious metals store on Bloor Street in Toronto as the fourth suspect waited in the car. “On December 10, 2022, at 2:15 p.m., three masked suspects entered a precious metals store … with a firearm.

Arsenic in the air, fear and anger on the ground – by Eric Andrew-Gee (Globe and Mail – January 23, 2023)

January 25, 2023

https://www.theglobeandmail.com/

As research shows carcinogens in their children’s bodies, people in Rouyn-Noranda are demanding more loudly that the local copper smelter – long exempt from provincial emissions rules – should clean up its act

Ethan Valois is eight now, and the arsenic levels in his body have started to come down. He and his parents live in Rouyn-Noranda, Que., home to a copper smelter that emits the known carcinogen at levels about 30 times higher than the provincial limit.

The risks of plundering the periodic table – by Staff (Mining.com – January 22, 2023)

January 25, 2023

https://www.mining.com/

A recent paper published in the journal Trends in Ecology and Evolution estimates that humans are heading toward a situation where 80% of the resources we use are from non-biological sources.

Written by researchers at the Ecological and Forestry Applications Research Centre, the Universitat Autònoma de Barcelona (UAB) and the Spanish National Research Council (CSIC), the article notes that in 1900, approximately 80% of the resources humans used came from biomass (wood, plants, food, etc.). That figure had fallen to 32% by 2005 and is expected to stand at approximately 22% in 2050.

Justin Trudeau’s spending plans will be threatened by higher interest rates and looming recession, report says – by Tonda MacCharles (Toronto Star – January 23, 2023)

January 25, 2023

https://www.thestar.com/

Justin Trudeau’s cabinet’s agenda over the next three days is to take a hard look at the fiscal and economic picture facing Canada.

HAMILTON—The federal Liberal government’s budget plan to grow the economy and get the public books in order is “unlikely” to work, given its evolving ambitious political promises, higher global interest rates, and the “high likelihood of a more severe recession in 2023,” says a new report.

The report, written by former Bank of Canada governor and deputy finance minister David Dodge, and Robert Asselin, former finance policy adviser to the Liberal government now with the Business Council of Canada, comes as the Trudeau cabinet meets to strategize about the coming months in Parliament.

SPC and Vale consolidate Sudbury nickel/copper deposits – by Mariaan Webb (Mining Weekly – January 24, 2023)

January 25, 2023

https://www.miningweekly.com/

Canadian junior SPC Nickel and diversified miner Vale’s Canada subsidiary have announced that they will consolidate their adjacent and contiguous West Graham and Crean Hill 3 nickel and copper deposits, in the Sudbury mining camp of Ontario.

The agreement grants SPC Nickel the right to acquire a 100% interest in the surface and mineral rights of the Crean Hill 3 property. In consideration, certain rights and royalties will be extended to Vale across the combined project.

Doug Ford pledges to turn Ontario into ‘auto manufacturing powerhouse’ driven by minerals from Ring of Fire – by Kris Ketonen (CBC News Thunder Bay – January 23, 2023)

January 24, 2023

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

Premier discusses Ontario’s critical mineral strategy, plans for EV production during ROMA speech

Companies that want to extract Ontario’s critical minerals to make EV batteries will also need to open factories in the province, Premier Doug Ford said Monday.

Speaking at the Rural Ontario Municipal Association’s (ROMA) annual general meeting, Ford said northern Ontario boasts deposits of 34 of the “most critical minerals the whole world wants.” “Everyone’s here wanting to get the minerals,” Ford said. “I have one condition.

More foreign investment in our natural resources could ease financial burden on Canadians – by Mark Le Dain (Calgary Herald – January 22, 2023)

January 23, 2023

https://calgaryherald.com/

The Canadian loonie has been sitting near multi-year lows, making life more expensive for Canadians. In the past, our country had a natural mechanism that cushioned the inflation impact of a falling loonie.

As the value of the currency dropped, global operators would invest in and develop the country’s abundant natural resources. This would then lead to increased demand for Canadian currency and increased jobs and exports during critical periods when the low loonie suggested weakness in other sectors.

Yamana Gold founder says ‘chatter’ points to more industry M&A – by Jacob Lorinc (Bloomberg News -January 23, 2023)

January 23, 2023

https://www.bnnbloomberg.ca/

Yamana Gold Inc.’s $4.8-billion takeover will be the catalyst for “much needed” consolidation in the gold industry this year, says founder Peter Marrone.

“I’m a bit jaded, because I’ve been talking about the need for consolidation for 19 years,” the executive chairman said in a Jan. 20 interview at Yamana’s Toronto headquarters. “But I do think we’ll finally begin to see some of it happening soon. I hear lots of chatter out there about other pending transactions.”

OPINION: Electric vehicles versus oil and gas – the new fault line among U.S. states – by Gus Carlson (Globe and Mail – January 21, 2023)

January 23, 2023

https://www.theglobeandmail.com/

Gus Carlson is a U.S.-based columnist for The Globe and Mail.

The push by a group of state lawmakers in Wyoming last week to introduce a bill banning the sale of electric vehicles by 2035 elicited as many sarcastic snickers as concerned frowns.

Even the backers of the bill admitted the effort was mostly symbolic, a supportive nod to the state’s oil and gas industry – a huge job-creation machine and revenue generator. And even if the proposed bill becomes law, its six Republican authors concede it will be difficult to enforce and unlikely to make an impact.

Abandoned mines among most expensive territorial contaminated sites – by Emily Blake (Canadian Press/Toronto Star – January 22, 2023)

January 23, 2023

https://www.thestar.com/

Environmental advocates say costly cleanups of former non-renewable resource projects in the North show the need for better planning.

YELLOWKNIFE – Environmental advocates say costly cleanups of former non-renewable resource projects in the North show the need for better planning.

Three of Canada’s top five most expensive federal contaminated sites are abandoned mines in the North: Giant Mine in the Northwest Territories at an estimated $4.38 billion and the Faro and United Keno Hill mines in Yukon at $1 billion and $125 million, respectively.