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Canadian Media Resource Articles

A decade-long commodity supercycle is just getting started – analysts – by Jordan Finneseth (Kitco News – September 16, 2024)

https://www.kitco.com/

(Kitco News) – During periods of easy money, risk assets like stocks tend to outperform as investors chase gains, but during times of economic strife, commodities become the safe haven for many investors. According to one analyst, now is the time to prepare for a commodity supercycle.

“The last [two] times we saw these valuations for commodities was 1971 and 2000,” tweeted MN Consultancy founder Michaël van de Poppe. “Commodities & #Crypto are extremely undervalued and it’s likely that commodities go into a 10-year long bull market.”

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Sudbury students with ‘rocks in their blood’ get together after 50 years – by Hugh Kruzel (Sudbury Star – September 16, 2024)

https://www.thesudburystar.com/

Laurentian geology graduates from 1974 gather in Wahnapitae to share memories and renew friendships

You may have attended a high school reunion; the reasons may be complex and often include renewing lost friendships or just bringing back youthful memories. For some, it is a reoccurring annual, five-year or even decade theme on the map of life.

What if it was your university graduating class? The program that set you off on a career and shaped your life? It was a cool wet day off the backroads of Wahnapitae, but it didn’t quench the spirit of the event. Dwayne Car, who hosted the get-together, had set up a tent and fire pit to chase away the chill.

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New regulations, proposed changes to Quebec’s Mining Act target exploration sector – by Susan Bell (CBC News North – September 17, 2024)

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

New rules around consultation and authorization ‘a huge win for Cree Nation,’ says grand chief

Cree officials are welcoming changes to the way mining exploration happens in Quebec. Eleven per cent of the province, much of it in northern Quebec Cree territory and Nunavik, is currently under an active claim, according to provincial officials.

According to media reports, in 2022, there were 400 mining exploration projects within Eeyou Istchee, the traditional lands of the James Bay Cree. In the past, exploration was a largely unregulated corner of the mining world in Quebec.

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What will Ottawa do about a wave of deals for junior lithium miners? – by Andrew Willis (Globe and Mail – September 17, 2024)

https://www.theglobeandmail.com/

A wave of takeovers is poised to reshape the lithium mining industry, with global giant Rio Tinto Ltd. projected to become the dominant producer of an essential metal in a decarbonized economy.

With analysts predicting acquisitions are coming, how is the Canadian government that’s previously pledged to build a domestic critical mineral industry to going to react when foreign buyers begin circling a handful of domestic lithium producers? Based on deals done so far, Ottawa will sign off on any acquisition that doesn’t involve a China-based buyer.

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Chinese investor steps in to block Paladin’s Fission buy – by Cecilia Jamasmie (Mining.com – September 16, 2024)

https://www.mining.com/

Australia’s Paladin Energy (ASX: PDN) has hit a roadblock in its proposed acquisition of Canada’s Fission Uranium (TSX: FCU) after a Chinese investor in the takeover target opposed the tie-up.

The Western Australia-based miner revealed on Monday that CGN Mining Company, a subsidiary of China General Nuclear Power with a 11.26% stake in Fission, is opposing the tie-up. Paladin moved in June to buy the Canadian miner for C$1.14 billion ($845 million), contingent on at least two-thirds of Fission shareholders voting in favour of the transaction by Aug. 26.

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Gold prices will gain in Q4 on Fed cuts, election risk, Chinese rebound, silver sees massive support from India – Heraeus – by Ernest Hoffman (Kitco News – September 16, 2024)

https://www.kitco.com/

(Kitco News) – Gold is set to benefit from several tailwinds in Q4, including this week’s expected Fed rate cut, continued central bank purchases, and a rebound in Chinese demand, while silver prices will gain on standout Indian demand and a weaker USD, according to precious metals analysts at Heraeus.

In their latest precious metals report, Heraeus noted that the kickoff of the Fed’s rate-cutting cycle on Wednesday should be good for gold, even if it’s only a 25 bps cut.

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China’s Grip on Rare Earths Undercuts Projects From US to Japan (Bloomberg News – September 16, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — A couple hours outside Houston, in a remote field near a Dow Chemical Co. plant, America’s bid to undercut China’s grip on the global supply of rare earth minerals critical to high technology has yet to break ground.

Even when it does, China’s dominance of the market — it controls about 70% of output and more than 90% of refining — means that goal will likely remain out of reach.

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Beaver Creek: Rule, Hathaway, Giustra reflect on surging gold price, humdrum equities – by Henry Lazenby (Northern Miner – September 13, 2024)

Global mining news

Beaver Creek, Col. – Industry leaders debated the roles of economic uncertainty, inflation and monetary policy in driving gold to a record high this week even as many gold equities have underperformed.

The experts predict gold, which hit an all-time high of US$2,554.78 per oz. on Thursday, to be on a long-term bull run. Some of the sector’s most respected voices, including Sprott’s John Hathaway, mining entrepreneur Frank Giustra, gold fund manager Ronald-Peter Stöferle and investor guru Rick Rule, said central bank gold buying, geopolitical tension and a divergence from traditional asset classes are boosting gold’s price.

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Mining exploration mess finally slated to be cleaned up in northern Quebec – by Susan Bell (CBC News North – September 16, 2024)

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

Abandoned exploration camp on John Rupert’s trapline one of almost 500 such sites in Cree territory

After many, many years of asking, John Rupert’s trapline is finally scheduled to be cleaned up. The Whapmagoostui elder knows it’s likely too late for him to return to hunt there, but maybe not for his children, grandchildren and great-grandchildren.

“Because of my age, I might not be able to go back there,” said Rupert, 71, whose trapline, as traditional hunting grounds are called in northern Quebec, is 60 kilometres southeast of the community. It’s a place he knows so deep and so well that he and his father used to travel there in the dark, in a time before flashlights.

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Nickel Flowing to Europe Shows Indonesia’s Grip on Global Supply – by Eddie Spence (Bloomberg News – September 13, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — European makers of stainless steel are turning to Indonesia for nickel as the country’s booming output forces plants in other countries to shutter.

Exports to Europe of Indonesian nickel pig iron — an ingredient for stainless steel used primarily by Chinese producers — to Europe have surged to 87,485 tons this year from just 1,006 tons in 2023, according to Indonesian government data. The Netherlands, Italy and the UK have taken the shipments, the data show.

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Eagle mine cleanup efforts hit stumbles after Victoria Gold put into receivership, former top engineer says – by Niall McGee (Globe and Mail – September 16, 2024)

https://www.theglobeandmail.com/

Efforts to clean up a massive cyanide spill at the Eagle gold mine in the Yukon have faltered after the receivership of Victoria Gold Corp., potentially posing new threats for the environment, a former top engineer at the company says.

Four million tonnes of cyanide-laced rocks collapsed at the company’s outdoor gold-processing facility in late June, causing massive damage to mine infrastructure and contamination. About two million tonnes of contaminated materials broke through the company’s containment zone and spilled into the local environment, killing fish and raising concerns about groundwater pollution.

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Port Radium and the atomic highway – John Sandlos (Canadian Mining Journal – September 11, 2024)

https://www.canadianminingjournal.com/

Gilbert LaBine is one of the most celebrated heroes in Canada’s mining history. He began his career prospecting around Cobalt, the Porcupine and Kirkland Lake, but his success was limited. Everything changed, however, when LaBine found pitchblende near Great Bear Lake in 1930, a discovery that cemented his legend as a plucky explorer, willing to brave the harshest northern environments to strike paydirt.

LaBine created a company, Eldorado Mines, to develop extremely valuable radium mines at Cameron Bay (later re-named Port Radium). This first mining development in the Northwest Territories (NWT) created a huge amount of excitement within the government and the industry about the potential of mining north of the sixtieth parallel.

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Gold price hits new high as momentum builds for Fed rate cut – by Staff (Mining.com – September 12, 2024)

https://www.mining.com/

Gold prices hit a new record on Thursday after the latest set of US inflation and unemployment figures helped bolster the the chances of a Federal Reserve cut next week. Spot gold climbed 1.6% to a new all-time high of $2,554.78 per ounce, before falling to below $2,500 as of noon ET. Three-month US gold futures were 1.5% higher at $2,580.40 per ounce.

While the producer price index for August was higher than economist forecast, rising 0.2% instead of 0.1% over the previous month, the over the overall trend remained consistent with subsiding inflation.

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Lithium World Asks If Surprise Mine Shutdown Can Arrest Slump (Bloomberg News – September 12, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move will be enough to end the battery material’s prolonged price slump.

The share prices of lithium miners from Australia to South America spiked Wednesday after reports that Contemporary Amperex Technology Co. Ltd., the world’s biggest battery producer, was suspending a mine that accounts for about 5% to 6% of global supply. Citigroup Inc. boosted its price forecasts, while Chinese futures for the metal surged.

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Diamond finds could extend NWT’s Misery mine ‘well past 2026,’ Burgundy says – by Blair McBride (Northern Miner – September 10, 2024)

https://www.northernminer.com/

Results from summer drilling at Burgundy Diamond’s (ASX: BDM) Ekati mine in the Northwest Territories could help extend production at the underground Misery mine much longer than expected, the company says.

Out of 710 metres drilled across six holes in July, the crew found a fancy yellow diamond about 25 metres below the last planned mine level. Drilling that targeted Misery’s main ore body confirmed the company’s belief that there’s a larger body at depth.

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