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Canadian Media Resource Articles

New Indigenous-owned mining royalty company a first in Canada – by Amanda Stephenson (Canadian Press/CTV News – November 17, 2024)

https://bc.ctvnews.ca/

In June of this year, a new company called Nations Royalty Corp. began trading on the TSX Venture Exchange. With minimum fanfare, the new company quietly hit a milestone on the road to Indigenous economic reconciliation in this country, becoming the only mining royalty company in the world that is majority-owned by Indigenous people.

Backed by billionaire Canadian mining financier Frank Giustra, Nations Royalty aims to lure investors with the promise of exposure to Indigenous-owned royalties, which company executives say is the last untapped pool in Canada.

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Opinion: The problem with recycling: no silver bullet to the critical-metal supply conundrum – by Vince Beiser (Globe and Mail – November 18, 2024)

https://www.theglobeandmail.com/

Vince Beiser is the author of the forthcoming book Power Metal: The Race for the Resources That Will Shape the Future, to be published on Nov. 19, from which this article is adapted.

Steve Nelson grabs the lip of the dumpster with his thick, calloused fingers, scrambles nimbly up the side, and drops down into the trash inside. He’s 57, and his many years of living on the streets of Vancouver show in his frazzled grey hair, weathered face, and unruly teeth. But he’s otherwise in great shape, sinewy, strong, and full of good cheer. A quick scrounge turns up a few lengths of electrical wire, some small sheets of aluminum, and a big outdoor light fixture. That’s a good find.

“I can take this apart without a tool and make it into money!” Steve crows about the light fixture. He shows me how to remove a small corner piece of metal and use it as an improvised screwdriver to loosen the casing.

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Trump chooses oil fracking boss as energy secretary – by Ari Natter (Bloomberg News – November 16, 2024)

https://www.bnnbloomberg.ca/

President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to lead the Energy Department.

Wright, the chief executive officer of Liberty Energy Inc., has no previous Washington experience. He’s made a name for himself as a vocal proponent of oil and gas, saying fossil fuels are crucial for spreading prosperity and lifting people from poverty. The threat of global warming, he has said, is exaggerated.

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Sudbury companies can tap into Ontario’s gold rush, chamber told – by Hugh Kruzel (Sudbury Star – November 15, 2024)

https://www.thesudburystar.com/

Agnico Eagle Mines Limited outlines its plans to develop gold mines in the province

Agnico Eagle Mines Limited is planning to spend billions developing gold mines in Ontario – a fact that should benefit mining services and supply companies based in Sudbury. That’s one of the messages Andre Leite, Ontario vice president of Agnico Eagle Mines Limited, brought to a Greater Sudbury Chamber of Commerce President’s Series Luncheon on Thursday.

Agnico Eagle’s business is gold production and Sudbury is the home base for Leite. His company is recognized globally for its leading environmental, social and governance practices.

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How low will gold go before the bounce? – by Ernest Hoffman (Kitco News – November 15, 2024)

https://www.kitco.com/

(Kitco News) – As precious metals investors watched gold prices slide from a high of $2,800 per ounce only two weeks ago to just over $2,500 per ounce this week, analysts and traders have been working overtime to contextualize the magnitude of the move, and to try to determine the likely near-term floor for the yellow metal.

And while gold holders are reassured to hear that all the medium and long-term tailwinds behind bullion remain in effect, they remain anxious as they watch gold prices decline further day after day. “This week alone, gold prices have fallen nearly 5%, marking the steepest weekly decline in almost three years,” noted Alex Kuptsikevich, senior market analyst at FxPro.

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Osisko Metals shares rise on 53% resource boost at Gaspé copper project – by Staff (Mining.com – November 15, 2024)

https://www.mining.com/

Osisko Metals (TSX-V: OM) shares rose on Friday after the company announced an updated mineral resource estimate (MRE) for the Gaspé copper project, near Murdochville, in Quebec.

The updated estimate includes pit-constrained resources comprising 824 million tonnes grading 0.34% copper-equivalent in the indicated category and 670 million tonnes grading 0.38% copper-equivalent in the inferred category.

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Russia temporarily limits nuclear-fuel shipments to US – by Liezel Hill (Bloomberg News – November 15, 2024)

https://www.bnnbloomberg.ca/

Russia is temporarily limiting exports of enriched uranium to the US, creating potential supply risks to utilities operating American reactors that generate almost a fifth of the country’s electricity.

The Russian government didn’t provide details of the restrictions or their duration in a Friday statement on Telegram. Utilities tend to make purchases well in advance, so any impact is unlikely to be immediate.

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B2Gold hits bonanza gold at Goose; eyes extended mine life in Nunavut – by Henry Lazenby (Northern Miner – November 14, 2024)

https://www.northernminer.com/

Drill results from B2Gold’s (TSX: BTO; NYSE: BTG) Goose project in Nunavut, which is under construction and expected to yield first gold next year, may point to a longer mine life and bigger resource base, the company said Wednesday.

Drill hole 24GSE-683Z1 at the Nuvuyak deposit at Goose cut 28.8 metres at 6.39 grams gold per tonne from 982.2 metres. It had a higher-grade interval of 23.49 grams gold over 6.5 metres from 1,005 metres depth. This extends high-grade mineralization by 150 metres to the north-northwest.

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GDP drop in N.W.T. last year shows territory’s economy ‘stagnating,’ researcher says – by Nadeer Hashmi (CBC News North – November 14, 2024)

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

N.W.T. was 1 of 2 jurisdictions in Canada to see its Gross Domestic Product drop between 2022 and 2023

New economic data from Statistics Canada show that the N.W.T.’s economy is “stagnating,” according to one Yellowknife economist.

And Graeme Clinton, owner of the research firm Impact Economics, says it’s not a big surprise, as the territory’s diamond mines are past their peak production and are preparing for closures. “There’s not a lot of activity coming in behind them, such that we can expect significant growth going forward,” Clinton said.

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Lithium in Nascent Rebound, But Long-Term Outlook Is Bleak – by Annie Lee (Bloomberg News – November 14, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Lithium is enjoying a mini-revival on an uptick in Chinese electric vehicle demand and supply cuts, although analysts caution there’s still likely to be a surplus of the battery metal in 2025.

Chinese lithium carbonate spot prices have rallied around 8% since late October and are now at a three-month high, while futures on the Guangzhou exchange have jumped 13% so far this week. An expansion in Chinese subsidies encouraging people to trade in older cars has aided the nascent rebound in the metal that’s crucial to the energy transition.

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The Great Kentucky Hoard: $2 million in Civil War-era gold coins discovered – by Jordan Finneseth (Kitco News – November 13, 2024)

https://www.kitco.com/

(Kitco News) – Gold has been recognized as a trusted store of value for centuries, allowing holders to maintain their wealth during times of uncertainty, and sometimes, hidden away treasures resurface in the modern age, as was the case for a Civil War-era coin stash recently found in Kentucky.

As reported on a special episode of Kentucky Life, a farmer in the state made a valuable discovery in 2023 that’s come to be known as The Great Kentucky Hoard, comprised of a cache of gold and silver coins dating to the Civil War era.

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Ross Beaty to receive TNM’s lifetime achievement award – by Colin McClelland (Northern Miner – November 8, 2024)

https://www.northernminer.com/

Ross Beaty flipped the laptop around and pointed its camera to the sea. “That’s a whale-watching boat,” the veteran mining entrepreneur said from Bowen Island near Vancouver. “There’s been a whole whack of humpback whales here yesterday and today.” Beaty sounded excited, and why not? He’s got a history of drawing out big things from the deep.

Since 2017 as chairman, he’s built Equinox Gold into a nearly 1-million-oz. annual producer with a $3.5-billion market value. Its latest mine, Greenstone in Ontario, poured first gold in May and is ramping up to 400,000-oz. a year capacity.

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Troubled Mineral Resources Halts Lithium Mine as Woes Mount – by Paul-Alain Hunt (Bloomberg News – November 12, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Embattled Australian miner Mineral Resources Ltd. will immediately shut its Bald Hill lithium project, citing the crash in prices of the key battery material.

The Western Australia mine, capable of producing 150,000 tons of spodumene concentrate a year, was acquired by Mineral Resources last year. The announcement of its closure comes after the company said earlier this month that founder billionaire Chris Ellison will step down as managing director after an internal probe into undeclared payments found he had engaged in “profoundly disappointing” conduct.

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Trump victory good news for Canadian economy – by Diane Francis (Financial Post – November 13, 2024)

https://financialpost.com/

Trump is placing energy as a priority. This will automatically increase the size and importance of Western Canada’s oilpatch

Donald Trump’s landslide victory has shaken Canadians and rattled the loonie, but on balance will be beneficial for the country, notably its natural resource sectors.

Trump has promised to impose tariffs on trading partners, but Canada’s biggest exports will spared for two reasons. First, the countries’ resource sectors are integrated as a result of cross-ownership and mutual supply chains that have been built over decades. So are their automotive industries. These binational oil and auto partnerships are the cornerstone of both economies.

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Gold’s dramatic decline is not Trump-specific, silver demand from solar boosts long-term projections – Heraeus – by Ernest Hoffman (Kitco News -November 11, 2024)

https://www.kitco.com/

(Kitco News) – Gold’s price decline since Trump’s electoral victory is as much about the party as it is the candidate, while global silver demand from the solar industry continues to rise as technology evolves and countries surpass their installation targets, according to precious metals analysts at Heraeus.

In their latest precious metals update, the analysts noted that historically, Republican victories have not been good for gold’s near-term prospects. “Gold dropped to $2,643/oz, the lowest price in 19 days, and the dollar strengthened as it became clear that Trump would return as US president,” they wrote.

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