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Canadian Media Resource Articles

Paladin Energy’s Fission deal in limbo as Ottawa probes national security implications of China influence – by Niall McGee (Globe and Mail – November 11, 2024)

https://www.theglobeandmail.com/

Investors are unsure whether Australia-based Paladin Energy Ltd.’s proposed acquisition of Fission Uranium Corp. will succeed, as Ottawa conducts a make-or-break national security review on the transaction, with Chinese influence under scrutiny on both sides of the deal.

In June, Paladin reached a friendly agreement to buy Kelowna, B.C.-based Fission in an all-stock transaction worth $1.14-billion. Fission is developing the Patterson Lake South (PLS) uranium project in the Athabasca Basin region of Saskatchewan, which is projected to eventually account for about 5 per cent of global supply.

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Barrick Falls Behind Rivals as No. 2 Miner Misses Boost From Bullion Boom – by Jacob Lorinc (Bloomberg News – November 09, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Most of the world’s top gold miners have seen their shares surge this year as bullion prices hit repeated record highs. Not Barrick Gold Corp.

Missed production targets, higher operational costs and political turbulence at mines in Africa and Asia have investors turning increasingly sour on the world’s second-biggest gold producer. On Thursday, Barrick posted gold output that missed analysts’ estimates for the 11th straight quarter.

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Acid rock intelligence: An enormous amount of progress has been made over the last decades to predict and address water-related risks at mine sites – by Ryan Bergen (CIM Magazine – November 7, 2024)

https://magazine.cim.org/en/

For a few days in mid-September, Halifax, Nova Scotia, became the world’s centre for geochemical expertise when the International Conference on Acid Rock Drainage (ICARD) convened there. Given the interruption caused by the global pandemic, and that the conference happens only every three years, this was the first in-person event since 2018’s meeting in Pretoria, South Africa, so there was a lot of ground to cover.

And the ground has shifted. Charles Dumaresq, vice-president of science and environmental management at the Mining Association of Canada, noted in the opening day panel that a series of high-profile tailings dam failures has trained the attention of regulators, operators and the broader public on the geo­technical risks associated with mines and legacy sites, which has the potential to divert resources away from addressing geochemical concerns.

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Opinion: Canada and the Three Seas Initiative: Energy security through nuclear co-operation – by George Christidis and Heather Exner-Pirot (Globe and Mail – November 8, 2024)

https://www.theglobeandmail.com/

George Christidis is the interim chief executive of the Canadian Nuclear Association. Heather Exner-Pirot is the director of Energy, Natural Resources, and Environment at the Macdonald-Laurier Institute.

Advocates of nuclear energy tout its environmental and economic benefits, but there are also compelling geopolitical reasons to pursue nuclear.

Energy security concerns have thrust nuclear forward as a critical solution for many countries traditionally dependent on, or integrated with, Russian nuclear energy and gas supplies. Their desire to disentangle their energy systems from Russia presents Canada the opportunity to use its nuclear expertise and supply chain to contribute to European energy security.

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Global Lithium raises alarm over potential foreign takeover – by Cecilia Jamasmie (Mining.com – November 8, 2024)

https://www.mining.com/

Australia’s Global Lithium Resources (ASX: GL1) is seeking to postpone its upcoming annual shareholder meeting until March next year due to concerns over a potential breach of foreign ownership rules.

The West Perth-based developer fears that Chinese national and minority shareholder Liaoliang “Leon” Zhu is attempting to gain control of the firm and its assets located near Kalgoorlie by joining the board and reducing the number of directors.

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Pine Point Mine Ltd. and Town of Hay River sign agreement in hopes of restarting mining project – by Carla Ulrich (CBC News North – November 7, 2024)

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

Pine Point mining project is located about 90 kilometres from Hay River, N.W.T.

The Town of Hay River and Pine Point Mining Limited have signed an agreement with the goal of ensuring that residents and businesses will benefit from future mining operations in the area. Mayor Kandis Jameson and Jeff Hussey, the CEO of Pine Point Mining Limited signed a memorandum of understanding on Monday.

The Pine Point lead and zinc mining project is located about 90 kilometres from Hay River. There hasn’t been an operational mine at Pine Point in almost four decades, when the former mine and neighbouring community closed down and were abandoned.

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Opinion: Trump says the U.S. has been ‘screwed’ by Canada. Brace yourselves for a full-on trade war- by David Olive (Toronto Star – November 8, 2024)

https://www.thestar.com/

Now that Donald Trump has been re-elected as president of the U.S., Canada is bracing for a trade war with its biggest export customer. Damage will be done to Canada’s $900-billion (U.S.) trade relationship with the United States.

There will be harm on both sides of the border if Trump proceeds with his avowed imposition of a 10-per-cent to 20-per-cent tariff on U.S. imports.

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Federal watchdog snaps at climate, Indigenous gaps in Ottawa’s critical minerals strategy – by Colin McClelland (Northern Miner – November 7, 2024)

https://www.northernminer.com/

Canada’s auditor general criticized the federal critical minerals strategy for not adequately probing the impact increased mining will have on the environment and Indigenous communities.

The government program issued in 2022 budgets $3.8 billion on critical minerals support over eight years. Yet, the strategy doesn’t properly measure results and progress on ecosystems and First Nations, the Office of the Auditor General, the government’s own watchdog, said in a report on Thursday. The matters included greenhouse gas emissions, the protection of culturally significant sites and improvements to local living conditions, it said.

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Barrick prepared to give Mali more than half of economic spoils to end fiscal dispute – by Niall McGee (Globe and Mail – November 8, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. chief executive Mark Bristow says the Canadian gold miner is prepared to fork over to Mali more than half of the economic spoils from mining in the country, as it toils to put an end to yet another fiscal dispute with an overseas government.

Toronto-based Barrick over the past few years has bounced from one fiscal dispute to another with several host countries over taxes, royalties and joint-venture stakes in its mines overseas. After patching up disputes that lasted for years with both Tanzania in East Africa and then Papua New Guinea in the southwestern Pacific, Barrick this year has tangled with Mali’s military junta in West Africa.

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Trump’s win is a clear signal that the American left is lost – by Terence Corcoran (Financial Post – November 8, 2024)

https://financialpost.com/

The Democrats have lost the confidence of the people

As the narratives around Donald Trump’s Republican election victory over Democrat Kamala Harris unfold over many conflicting streams, two stand out as perhaps the most important and meaningful indicators of the significance of the results.

One is the reaction of stock markets as investors jumped in realization that the U.S. economy may remain a largely market-driven and private affair outside the grasp of government. The other thread in the post-election narratives is the realization that the American left has lost the confidence of the people.

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Canadian mining firms fear ability to meet soaring demand as jobs crisis stalks land of the Big Nickel – by Julie Mollins (Reuters – November 7, 2024)

https://www.reuters.com/

‘People love to jump in their cars, use their cell phones and Xboxes and jump on light rail, but they don’t understand the minerals and metals that go into that, says Ryan Montpellier, a leading mining sector executive in Canada.

“Even those young people that do have an awareness continue to hold very dated perceptions of our industry. They still view this as a dark, dirty and dangerous industry, and that couldn’t be further from the truth,” he says.

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Court to assess $510M in legal fees related to Robinson Huron Treaty annuities case – by Aya Dufour and Jonathan Migneault (CBC News Sudbury – November 5, 2024)

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

Atikameksheng Anishnawbek and Garden River First Nation argue legal fees were too high

A judge has ruled in favour of two First Nations in northern Ontario that have argued $510 million in legal fees related to the $10-billion Robinson Huron treaty annuities settlement should be assessed. Justice Jana Steele says the court will conduct an assessment of the lawyers’ fees.

Atikameksheng Anishnawbek and Garden River First Nation challenged the $510-million legal bill earlier in May. Both communities are part of 21 First Nations involved in the landmark annuities case.

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Environmental NGOs love using First Nation land issues for profit – by Geoff Russ (National Post – November 5, 2024)

https://nationalpost.com/

Is there a natural resource project being built somewhere in Canada? Does it overlap with the title land, reserve lands, or other jurisdictions of a First Nation? If so, expect green NGOs to turn it into another dramatic episode so they can keep fundraising.

It has been 53 years since the infamous “Crying Indian” ad was released, but it still provides the template for how environmentalist NGOs co-opt and intrude into Indigenous affairs. Made by an American NGO called Keep America Beautiful, the ad showed a tear running down the face of a Native American, dressed like he was plucked from the set of a John Wayne movie.

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World’s biggest cobalt miner is gloomy on the EV metal’s future – by Annie Lee (Bloomberg News – November 6, 2024)

https://www.bnnbloomberg.ca/

The world’s No. 1 cobalt miner is sounding the alarm over the shrinking role of the metal in electric vehicle batteries. Chinese company CMOC Group Ltd., which has been churning out cobalt much faster than rivals like Glencore Plc, said the importance of the raw material in the energy transition is declining rapidly.

The adoption of cobalt-free lithium iron phosphate, or LFP, batteries has gained momentum in recent years, due to them being cheaper to manufacture. The proportion of EV batteries in China containing cobalt will drop to 31% in 2024, from 44% two years ago, according to consultancy CRU Group.

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Junior gold miners are appealing takeover targets as bullion prices climb – by Dominique Gené and Andrew Willis (Globe and Mail – November 5, 2024)

https://www.theglobeandmail.com/

For the mining crowd, the annual Denver Gold Forum is a chance to swap speculation on potential deals. At this year’s gathering in September, all the takeover talk revolved around junior companies with promising properties being snapped up by larger rivals.

The country’s smallest gold miners – those developing projects that are years away from producing bullion – are becoming attractive takeover targets. Soaring gold prices have boosted the valuations of senior and intermediate mining companies and left them flush with cash, while stock prices continue to languish at exploration companies.

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