Twitter

Canadian Media Resource Articles

Navigating ‘The Valley of Death’: Why Canada’s emerging critical minerals miners are struggling to survive and what can be done about it – by Niall McGee (Globe and Mail – November 22, 2024)

https://www.theglobeandmail.com/

Martin Turenne, chief executive officer of FPX Nickel Corp. FPX-X is wired as an optimist. In the mining industry, you have to be, because the timelines are agonizingly long and the odds are often heavily stacked against you.

Mr. Turenne hopes to have a nickel mine and refinery in production at its Baptiste project in central British Columbia by the end of the decade. The grand plan is to supply nickel for Canada’s nascent electric vehicle battery industry. The early estimate to build what could eventually be a top 10 nickel operation globally is $2.6-billion.

Read more

BHP bets billions on Chile mines to face global copper crunch – by Daina Beth Solomon and Fabian Cambero(Reuters – November 22, 2024)

https://www.xm.com/

BHP Group expects a global copper deficit of 10 million metric tons a decade from now, a shortfall that is driving its plans to spend at least $11 billion at the world’s biggest copper mine, Escondida, and other projects in Chile.

BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years to extract more copper from Escondida and the smaller Spence mine, and restart the Cerro Colorado mine. The world’s biggest listed miner’s annual production is set to fall by around 300,000 tons to 1.6 million tons by the end of the decade, largely driven by a slump at Escondida that is expected to peak in 2025.

Read more

Osisko Development surges on permitting milestone for Cariboo gold project – by Staff (Mining.com – November 21, 2024)

https://www.mining.com/

Osisko Development (NYSE: ODV, TSXV: ODV) shares surged as much as 25% on Thursday morning as it reached a significant permitting milestone for the 100%-owned Cariboo gold project in central British Columbia.

The approval of its BC Mines Act permit means that the company can now move forward the construction and operation of the underground mine, which is expected to deliver 164,000 oz. of gold production annually over a 12-year life, as outlined in a 2023 feasibility study.

Read more

BHP CEO Mike Henry says Canada risks losing investments in critical minerals to global rivals if it doesn’t cut red tape – by Niall McGee (Globe and Mail – November 21, 2024)

https://www.theglobeandmail.com/

BHP Group Ltd. chief executive Mike Henry says Canada must speed up mine permitting, or it risks losing out to its global rivals in attracting investments in critical minerals. Melbourne-based BHP, the world’s biggest mining company, already has significant operations in Canada. It is building a massive new potash mine in Saskatchewan called Jansen with the total capital expenditure pegged at $20-billion.

Mr. Henry, who is Canadian, said in an interview that while BHP clearly already has an affinity for Canada, based on its investment track record, the slow pace of obtaining mining permits is a big problem.

Read more

Crowsnest Pass residents divided as voting on mining at Grassy Mountain gets underway – by Karsen Marczuk (CTV News Calgary – November 20, 2024)

https://calgary.ctvnews.ca/

Advance polls for Crowsnest Pass residents were held on Tuesday for a proposed coal mine at Grassy Mountain. In September, the Municipality of Crowsnest Pass announced a non-binding referendum vote would take place asking, “Do you support the development and operations of a metallurgical mine at Grassy Mountain?”

The topic has caused a divide in the community. “Coal mining built the Crowsnest Pass,” said Bonnie Castellarin with Citizens Supportive of Crowsnest Coal. “At that time, it was a very thriving community and as the mines closed, it has definitely hurt our community.”

Read more

Mali Frees Resolute Executives After $160 Million Deal, AFP Reports – by Sybilla Gross (Bloomberg News – November 20, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Mali has released three Resolute Mining Ltd. executives after the African nation detained them in a tax dispute, Agence France-Presse reported, citing a judicial source and a local gold mine official.

The three executives, including Chief Executive Officer Terry Holohan, were freed from detention on Wednesday after Resolute struck a $160 million deal with the government, according to the report. The release came after the signing of a memorandum of understanding between the two parties, it added, citing the judicial source.

Read more

Rising threat of World War III could see gold hit $2,800 by Christmas – analyst – by Jordan Finneseth (Kitco News – November 21, 2024)

https://www.kitco.com/

(Kitco News) – Gold’s record-setting rally in 2024 hit a wall of resistance around $2,791/oz, leading to a pullback to $2,540/oz, and while some have warned of an extended consolidation period, one analyst thinks the yellow metal could hit a new all-time high above $2,800 before Christmas.

“War. What is it good for? Absolutely nothing except driving gold prices to record ATHs,” said Matthew Jones, precious metals analyst at Solomon Global. “In the current climate, $2800 before Christmas is not out of the question.”

Read more

Residents call proposed peat mine a ‘threat’ to Lake Winnipeg’s Washow Bay – by Dave Baxter (Hamilton Spectator – November 21, 2024)

https://www.thespec.com/

A petition asking the province to put a halt to a proposed peat mine expansion near Lake Winnipeg has almost 1,000 signatures, as residents express concerns about the project and what damage it could bring to the community and to the lake.

“Lake Winnipeg’s Washow Bay area, a vital ecosystem supporting diverse wildlife and local communities, is under threat from the expansion of peat mining operations,” reads a statement posted on a petition set up on Change.org in July by residents of the Washow Bay area.

Read more

Could Trump’s deregulation quest speed permitting in Canada too? – by Alisha Hiyate (Northern Miner – November 20, 2024)

https://www.northernminer.com/

U.S. president-elect Donald Trump made two picks for key posts in his administration last week that signal he’s serious about rolling back environmental regulations and speeding up permitting for oil and gas as well as mining projects – a policy that could put pressure on Canada to do the same.

Trump, who has repeatedly promised the U.S. will “drill baby, drill” for fossil fuels, named Lee Zeldin, a former congressman from New York, as his pick on Nov. 11 to head up the Environmental Protection Agency. Zeldin has promised to roll back “left-wing” regulations while also protecting the environment. He’s endorsed Trump’s call to use the EPA to pursue U.S. “energy dominance” and economic growth.

Read more

Opinion: The future of mining in Canada depends on Northern infrastructure investment – by Richard Burguess (i-Politics – November 19, 2024)

https://www.ipolitics.ca/

In an era of increasing demand for critical minerals and clean energy, strategic investments in northern infrastructure will be essential for securing Canada’s position as a global leader in sustainable mining.

Mining is set to play a pivotal role in Canada’s economic future. As outlined in the Canadian Minerals and Metals Plan (CMMP) and the Critical Minerals Strategy, the sector is key to building a low-carbon economy. But, without significant investment in northern infrastructure — especially in energy — Canada’s mining potential will remain untapped, putting the country at risk of stagnation in a sector critical to both our economy and climate goals.

Several projects are aimed at addressing the North’s energy challenges, but none are as advanced as the Atlin Hydro Expansion Project (Atlin). As the government prioritizes reducing carbon emissions, fostering Indigenous participation in the resource sector, and ensuring Canada’s mining industry remains globally competitive, Atlin represents the type of solutions we must pursue.

Read more

Paladin’s Fission Takeover Is Delayed by Canada Security Review – by Jacob Lorinc (Bloomberg News – November 19, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Canada’s federal government is extending a national security review of Paladin Energy Ltd.’s acquisition of Fission Uranium Corp., further delaying a deal that was supposed to close in September.

Australia’s Paladin Energy said Tuesday it received a notice from Canada’s industry ministry that the government’s review period for the transaction, proposed in June, will be extended until Dec. 30. The company also warned that the deal could fall apart.

Read more

Permitting delays impact BC projects valued at $38B, AME says – by Henry Lazenby (Canadian Mining Journal – November 21, 2024)

https://www.canadianminingjournal.com/

British Columbia’s exploration sector has over 60 critical mineral projects waiting for permits. It’s a $38-billion pileup of economic opportunities, some waiting indefinitely, Association for Mineral Exploration (AME) president and CEO Keerit Jutla says.

Without action, B.C. risks falling further behind Ontario and Quebec, whose streamlined policies and targeted funding have helped them attract more exploration funding, Jutla said. His group represents about 5,000 members.

Read more

Opinion: Alberta should lead in responsible coal mining – by Robin Campbell (Edmonton Journal – November 18, 2024)

https://edmontonjournal.com/

In Alberta, we’ve always proudly told the world about the advantages and attractiveness of investing here. We speak about low taxes, abundant resources, and a highly skilled and motivated workforce. It’s a great story, but as families in communities across the province look for ways to pay their bills, the story needs to be backed by strong public policy.

A shadow looms over what should be a critical element of our mining sector, steelmaking coal. In Alberta, steelmaking coal has immense potential for development. This development can be done responsibly – our laws demand it.

Read more

TD’s alien world of gold coins – by Jason Kirby (Globe and Mail – November 16, 2024)

https://www.theglobeandmail.com/

Inside the bank’s push into the sometimes peculiar world of precious metal collectibles

Two aliens with emerald-green eyes stare out from the face of a gold coin on the website of Canada’s second-largest bank, the words “The invasion is here” stamped above their elongated heads.

The gleaming extraterrestrials, straight out of Area 51 central casting, appeared some time ago on the online store of TD Precious Metals, Toronto-Dominion Bank’s bullion trading division, which has quietly become one of the largest purveyors of gold and silver items in Canada’s retail market.

Read more

UAE surpasses London to become the world’s second-largest gold hub as Asian demand grows – DMCC – by Neils Christensen (Kitco News – November 18, 2024)

https://www.kitco.com/

(Kitco News) – Asian demand has transformed the gold market this year, driving prices to record highs. While the market has recently retreated from those highs, Asia’s influence in the marketplace is expected to grow, according to the latest report from the Dubai Multi Commodities Centre (DMCC).

The DMCC highlighted that Dubai and the United Arab Emirates are uniquely positioned to serve as an important bridge between East and West. According to the report, the DMCC envisions the start of an “Asian Century” for gold, with a focus on developing a new gold economic corridor among BRICS nations, including the UAE.

Read more