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Canadian Media Resource Articles

Trump tariffs could lead to potential job losses in Labrador mines, expert says – by Alex Kennedy 9CBC News Newfoundland & Labrador – December 02, 2024)

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

Threats of a 25 per cent tariff sounded alarms in industries around the world

Threats of a 25 per cent tariff on goods exported from Canada into the United States have sounded alarms in industries around the world, including mining and those operating in Labrador. Tamer Elbokl, editor in chief of the Canadian Mining Journal, told CBC Radio Friday that any kind of tariff would be bad news on his industry.

“It will have a huge impact. Not just on iron ore, but all minerals exported from Canada to the United States,” Elbokl said. Canada was the world’s eighth largest producer of iron ore in 2023, with the majority of trade going to the United States.

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Glencore confirms it will close Kidd Creek Mine at the end of 2026 – by Darren MacDonald (CTV News Northern Ontario – December 3, 2024)

https://northernontario.ctvnews.ca/

A spokesperson for Glencore Canada said Tuesday the company will close its Kidd Creek Mine near Timmins at the end of December 2026.

Alexis Segal, head of communications for Glencore Canada, told CTV News the decision comes after a 2021 study found there was no way to extend the life of the mine. “It’s already the deepest base metal mine in the world,” Segal said. There was no way to safely and economically mine deeper, forcing Glencore to close.

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The Indigenous Economy Is About to Take Off – by Carol Anne Hilton (MACLEAN’S Magazine – December 3, 2024)

https://macleans.ca/

Carol Anne Hilton is the CEO and founder of Indigenomics Institute.

Reconciliation is becoming Canada’s biggest business story—and its greatest economic opportunity

In 2025, Indigenous communities across Canada will gain more control over their land and resources, opening up new opportunities for development, profit and reinvestment. The result will be a virtuous cycle in the Indigenous economy that’s going to make Bay Street stand up and pay attention.

We’ve seen this trend begin to play out for the past few years. In 2021, for example, seven Mi’kmaw communities obtained a 50 per cent share in Nova Scotia–based Clearwater, one of the largest seafood companies in North America, for $1 billion. Last year, the Haisla Nation in B.C. became the majority owner of Cedar LNG, a natural-gas export terminal and the largest Indigenous-owned infrastructure project in Canada.

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Ontario launches multimillion-dollar U.S. ad campaign amid Trump’s tariff threat (CBC News Toronto – December 02, 2024)

 

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

Campaign will run through the holidays with expanded placements in the new year

Ontario has launched a multimillion-dollar U.S. ad campaign touting economic and cultural ties between the province and its southern neighbour as Canada faces the threat of 25 per cent tariffs enacted by president-elect Donald Trump.

“For generations, this ally to the north has been by your side: Ontario, Canada, a partner connected by shared history, shared values and a shared vision for what we can achieve together,” a narrator says over new and archival video featuring shared landmarks like Niagara Falls and the Gordie Howe International Bridge.

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This educator became a ‘mining ambassador’ after visiting a northern Ontario gold mine (CBC News Sudbury – December 01, 2024)

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

The Coté Gold Mine has plans to hire around 110 people in the next year

Joanne Sallay, a self-confessed “city dweller”, says she never put much thought into the mining industry until she was invited to visit IAMGOLD’s Coté Gold Mine, located between Sudbury and Timmins. Sallay is the president and CEO of Teachers on Call, a tutoring company based out of Toronto. She was part of a group of 20 educators that visited the mine.

Several groups, including the Ontario Mining Association, Mining Matters and the Canadian Ecology Centre organized the trip to promote mining as a career option for students.

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Paladin’s deal to acquire Fission Uranium in doubt amid deepening national security probe involving China – by Niall McGee (Globe and Mail – December 2, 2024)

https://www.theglobeandmail.com/

Paladin Energy Ltd.’s proposed acquisition of Canadian uranium development company Fission Uranium Corp. is hanging in the balance amid a deepening national security probe and a punishing Paladin stock sell-off that has spooked investors.

The Australian miner reached a friendly agreement in June 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.

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Norway forced to pause Arctic seabed mining plans – by Cecilia Jamasmie (Mining.com – December 2, 2024)

https://www.mining.com/

Norway has paused its controversial plans to mine the seabed in Arctic-reaching territorial waters after the Socialist Left Party (SV), a small left-wing environmentalist group, secured an agreement to delay the initiative in exchange for supporting the national budget.

The government had intended to issue its first deep-sea mining exploration licenses in early 2025. Under pressure from the SV, preparatory work has been now slowed, with the government highlighting that it would continue work on environmental impact assessments and regulatory frameworks.

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Zinc’s Wild Week May Signal Volatile Era as Supplies Squeezed – by Alfred Cang (Bloomberg News – December 01, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Zinc could see more sharp price swings as growing tightness along the metal’s supply chain leaves buyers exposed to sudden changes in availability. The material used to galvanize steel had a turbulent time on the London Metal Exchange last week, finishing almost 5% higher despite a 2.5% slump on Thursday.

The spike was fueled by the withdrawal of huge volumes from LME warehouses, which stoked speculation of a potential squeeze on short-position holders. The volatile week underscored tight supply conditions that analysts see persisting into next year.

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Alberta steps in again to protect Canada from Steven Guilbeault – by Jamie Sarkonak (National Post – November 30, 2024)

https://nationalpost.com/

The Liberals were told to respect provincial jurisdiction, but their update to the federal environmental assessment regime doesn’t

On Thursday, the Alberta government announced that it has asked the Alberta Court of Appeal to provide an opinion on whether the newly amended federal Impact Assessment Act (IAA) is constitutional. The problem? The things that rendered much of the act unconstitutional, which had been pointed out by the Supreme Court last fall, were never addressed.

The flaw that tainted IAA 1.0 was one of jurisdictional blindness: the law didn’t keep the feds in their own lane, and instead gave Environment Minister Steven Guilbeault the ability to veto just about any infrastructure project he likes — even in-province pipelines and roads, as well as gravel pits and mines, which are all within provincial domain.

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Nuclear power industry sees ‘huge potential’ for growth in Saskatchewan – by Michael Joel-Hansen (Financial Post – November 30, 2024)

https://financialpost.com/

Province is starting to look to nuclear power to fill the void left by the departure of coal

Saskatchewan is one of a number of jurisdictions starting to look to nuclear power to fill the void left by the departure of coal and other carbon-emitting fuels as the push to decarbonize electricity production ramps up.

The expansion of nuclear power generation means serious growth potential for some players in the industry, including Westinghouse Electric Co. LLC, a Pennsylvania-based specialist in building nuclear reactors bought by Saskatoon-based Cameco Corp. and Brookfield Asset Management Ltd. in 2023.

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De Beers Capitulates on Diamond Strategy With Big Price Cuts – by Thomas Biesheuvel (Bloomberg News – December 02, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — De Beers has cut diamond prices by more than 10% across the board as the world’s biggest producer abandons attempts to put a floor under the slumping market.

The diamond industry has been struck by one of its deepest and most prolonged slumps in decades. What started as a post-pandemic slowdown has spiraled as inflation hit customer purchases, before a collapse in China’s luxury market further eroded demand. Man-made diamonds have also continued to undermine prices.

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Opinion: Canada must put up or shut up on defence spending – by Konrad Yakabuski (Globe and Mail – November 30, 2024)

https://www.theglobeandmail.com/

Germany recently began updating its inventory of Second World War bunkers, and adding other underground sites to the list, as the threat of a foreign military attack moves from the realm of the improbable into that of the increasingly conceivable.

Sweden, which this year ended decades of neutrality to join NATO, is distributing a 32-page booklet to all households with updated, if sobering, instructions on what to do in the case of war. “Military threat levels are increasing,” the document warns. “We must be prepared for the worst-case scenario – an armed attack on Sweden.”

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Poland becomes world’s biggest gold buyer as Russia-Ukraine war prompts safe-haven push in Eastern Europe – by Ernest Hoffman (Kitco News – November 29, 2024)

https://www.kitco.com/

(Kitco News) – With 100 tons in gold purchases in 2024, the central bank of Poland has become the number one sovereign buyer of the yellow metal. But the country is not alone, as the Russia-Ukraine war has forced the Czechs, Serbs, and Hungarians to also bolster their reserves.

While the focus for much of the year was on China’s massive central bank gold purchases – and then on their move to the sidelines as prices hit record highs – the nations of Eastern Europe have quietly emerged as the biggest buyers of the precious metal, and the biggest back stoppers of the gold rally.

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Lithium Argentina picks Switzerland as another China-backed junior flees Canada – by Blair McBride (Northern Miner – November 29, 2024)

https://www.northernminer.com/

Lithium Argentina is seeking to redomicile to Switzerland and change its name to Lithium Argentina AG following a corporate review and a new agreement with investor Ganfeng Lithium, the company said Friday.

The company decided Switzerland was the best jurisdiction on strategic, commercial and legal grounds, would provide expanded financing flexibility, and support its long-term growth plans. It also aims to move the Lithium Argentina group of companies’ operational headquarters to Buenos Aires.

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Ontario judge dismisses case alleging human rights abuses against Barrick at Tanzanian mine – by Nial McGee (Globe and Mail – November 27, 2024)

https://www.theglobeandmail.com/

An Ontario court has dismissed a pair of civil suits against Barrick Gold Corp. that alleged it was responsible for human-rights abuses at a Tanzanian mine, with the judge ruling that any such court action should be tried in Tanzania.

The plaintiffs are a group of Indigenous Kurya from villages around the mine who were injured in 2021 and 2022 when the Tanzanian police force allegedly shot at them, as well as family members of victims who were killed during this period allegedly by the police.

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