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Canadian Media Resource Articles

Two small communities are competing to receive Canada’s inventory of nuclear waste. They can’t be sure what they’ll get – by Matthew McClearn (Globe and Mail – June 10, 2024)

https://www.theglobeandmail.com/

Two Ontario municipalities are vying to become hosts for an underground disposal facility for Canada’s nuclear waste. Both must formally announce in the coming months whether they’ll accept the facility – but they cannot know exactly what wastes they’d be agreeing to receive.

The Nuclear Waste Management Organization (NWMO) designed its $26-billion facility, known as a deep geological repository, to receive spent fuel from Candu reactors located in Ontario, Quebec and New Brunswick. This year, it plans to choose between the last two sites still in the running: the Municipality of South Bruce, Ont., located more than 120 kilometres north of London; or near Ignace, Ont., a town of 1,200 more than 200 kilometres northwest of Thunder Bay.

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[Bre-X Gold Scandal] Bay Street in the shade – by Rita Trichur (Globe and Mail – June 11, 2024)

https://www.theglobeandmail.com/

What do phony gold, a Russian godfather and a crypto scam have in common? They all illustrate how The Globe plays an important role in exposing corporate malfeasance

It was surely one of the clumsiest attempts ever to rewrite history. In 1996, Calgary-based Bre-X Minerals Ltd. spent months assuring investors it owned most of Busang, a mammoth gold deposit in Indonesia. But the following February, CEO David Walsh flipped the script.

“Some have mistakenly thought that we somehow owned 90 per cent of this property,” Walsh said at the time. “This was never the practical reality, nor was it ever a basis for the valuation of Bre-X stock.”

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Opinion: The U.S. has a 3D problem with Canada — Dairy, defence and digital tax – by Goldy Hyder (Financial Post – June 12, 2024)

https://financialpost.com/

The Canada-U.S.-Mexico trade agreement is up for review in 2026. We need progress on three irritants that unite American politicians

Back in 2022, I wrote on this page that American political leaders from across party lines were increasingly viewing Canada through “3D” glasses. Their perception of Canada was being coloured and distorted by three cross-border disagreements: dairy quota allocation, digital taxes and defence spending. The analogy was intended as a warning.

These same 3D irritants have taken on added urgency in what has become an extremely contentious 2024 U.S. election cycle. At a time when American political divisions are widening, groups of Republicans and Democrats are joining together to voice shared frustration with Canada’s refusal in these areas to align itself with its most important ally.

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Sudbury column: Geopolitics, global warming make the Ring of Fire as important as ever – by Stan Sudol (Sudbury Star – June 8, 2024)

https://www.thesudburystar.com/

Construction of a road to the mine site needs to start now

Without a doubt, the Ring of Fire camp and its many strategic minerals that include nickel, copper, platinum group metals, chromite and titanium – just to mention a few as explorers have just scratched the proverbial surface – is the most important mining discovery in Canadian history. It may even exceed the legendary Sudbury Basin someday.

Discovered in 2007, the region is located approximately 450 km northeast of Thunder Bay in the isolated and vast peatlands of Hudson Bay, which itself is roughly the size of Norway but with only about 10,000 people. Contrary to fanatical ENGOs, sustainable mineral development and exploration practices will have minimal impact on the environment and provide the critical minerals needed to stop global warming.

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Ten million trees really made a difference to Sudbury’s landscape – by Mary Katherine Keown (Sudbury Star – June 8, 2024)

https://www.thesudburystar.com/

And about half those trees came from seedlings grown by Vale and its greenhouse in Copper Cliff

More than 10 million trees have been planted as part of Greater Sudbury’s regreening efforts, and Vale (formerly Inco) is responsible for nearly half of those seedlings. They started out tinier than a thumbnail, but 50 years later, the first trees that were planted are now soaring into the sky, covered in needles or leaves, and providing shade, nourishment and homes to all kinds of critters.

About five million of those seedlings got their start at the Vale greenhouse in Copper Cliff. A large group, including children from the nearby elementary school, gathered at the greenhouse on Thursday to celebrate its 50th birthday.

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Exploring the mystery of the man embroiled in a Canadian mining company’s billion-dollar gold scam – by Lucy Wallis (CBC News – June 7, 2024)

 

https://www.cbc.ca/

New podcast digs into the history of Bre-X Minerals’s claims of gold deep in the Indonesian jungle

On the morning of March 19, 1997, Michael de Guzman, chief geologist at Canadian mining company Bre-X Minerals, boarded a helicopter flight to travel to a remote jungle site in Indonesia. It was a journey he had made many times before, to a place where he had reported finding huge deposits of gold.

But this time, de Guzman never arrived. Twenty minutes into the journey, a rear door on the left-hand side of the helicopter opened and de Guzman plummeted to his death into the dense foliage below.

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Rio Tinto CEO Jakob Stausholm may have to change strategy as company enters new round of upheaval – by Eric Reguly (Globe and Mail – June 8, 2024)

https://www.theglobeandmail.com/

Extrovert or introvert, buyer or builder, opportunistic or judicious. These are the existential questions that Rio Tinto must answer for itself as the global mining industry enters a new round of upheaval, driven by the lunge for metals critical to a low-carbon future. Which way will Rio, a primarily iron ore and aluminum producer, go?

No one knows, and there are enormous risks in both playing the mergers and acquisitions game and avoiding it. Rio knows it needs more copper – it is ranked a lowly eighth in terms of production. At the same time, its reputation for capital discipline and conservative thinking might make it shy away from bidding wars and hostile deals, perhaps even big mergers and acquisitions of the friendly variety.

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Wall Street throws in the towel on gold after Friday’s rout, Main Street optimism likely a pre-selloff snapshot – by Ernest Hoffman (Kitco News – June 7, 2024)

https://www.kitco.com/

(Kitco News) – This week, precious metals markets saved all their drama for the grand finale. Spot gold opened the week trading at $2,325.26, and spent much of the first four days trading in a relatively narrow $25 range.

The expected 25 basis point rate cuts from the ECB and the Bank of Canada came and went, with spot gold eventually setting its weekly high of $2,386.75 just after midnight on Friday.

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Ranchers to fight coal bid in Alberta court – by lair McBride (Northern Miner – June 6, 2024)

https://www.northernminer.com/

Applications to drill for metallurgical coal in southwestern Alberta are pitting ranchers against an exploration company backed by Australian mining billionaire Gina Rinehart.

Calgary-based Northback Holdings, a subsidiary of Rinehart’s Hancock Prospecting, submitted applications last year to the Alberta Energy Regulator (AER) for permits to drill at its Grassy Mountain project in the Crowsnest Pass region.

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China’s PBOC Halts Gold Purchases After Price Hits Record – by Yvonne Yue Li and Sybilla Gross (Bloomberg News – June 7, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal Reserve will be able to start lowering borrowing costs soon.

Treasury yields and the dollar surged after the US government’s May employment report showed job growth exceeded expectations and wages were hot. Bullion slumped as much as 3.1%, the most since March 2022, while base metals also tumbled.

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Government regulation top threat facing British Columbia mining industry — report – by Staff (Mining.com – June 6, 2024)

https://www.mining.com/

Both opportunities and threats facing British Columbia’s burgeoning mining sector are revealed in a new report by PWC, as the province “primes itself to become one of the most reliable and sustainable suppliers of critical metals in Canada and globally.”

Critical metals are a key economic driver for the province, accounting for 26% of total revenue — C$3.8 billion ($2.78bn), according to PWC’s BC Mine Report 2023, with exploration and development driving growth in the sector, contributing most significantly to the 24% increase in capital expenditure year-on-year.

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The other legacy of D-Day: A Canada that built stuff. So much stuff – by Tony Keller (Globe and Mail – June 7, 2024)

https://www.theglobeandmail.com/

On the 80th anniversary of D-Day, we memorialize the sacrifice, in blood and lives, of the Canadians who liberated Europe. Largely forgotten, however, are the economic, technical and industrial achievements that made victory possible – how Canadian business retooled, innovated and threw up new factories overnight, and the mind-boggling quantities of stuff they churned out.

Canada didn’t just clothe, feed, equip and arm the more than one million Canadians in uniform (out of a population of just 11 million). Stimulated by unprecedented federal spending and borrowing, industry shook off the Great Depression, and was soon building and exporting massive quantities of, well, everything.

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UN chief warns of ‘highway to climate hell’ as global temperatures rack up 12th straight heat record – by Kate Allen (Toronto Star – June 6, 2024)

https://www.thestar.com/

As the planet notched a new hot streak and scientists predicted another grim milestone on the horizon, the secretary-general of the UN warned Wednesday that the world needs “an exit ramp off the highway to climate hell.”

Europe’s climate agency announced that May marked the 12th consecutive month of record-breaking global temperatures, a fevered year that startled many scientists because of the dramatic margins by which old records were broken. At the same time, the World Meteorological Organization predicted that at least one of the next five years is likely to temporarily break the 1.5 C warming threshold.

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Gold’s attractiveness to criminals forces market participants to shoulder the AML-KYC burden – by Ernest Hoffman (Kitco News – June 4, 2024)

https://www.kitco.com/

(Kitco News) – The biggest gold-smuggling bust in Hong Kong’s history has brought the challenges of detecting illegal movements and transactions of precious metals into sharp relief, according to a June 2 report from consulting firm Alvarez and Marshall.

“On 27 March 2024, the Hong Kong Customs and Excise Department made its largest ever gold-smuggling bust — approximately 146kg, with an estimated market value of HKD 84 million — at the Hong Kong International Airport,” the report stated. “The gold was not smuggled as ingots or jewelry with serial numbers as one might expect, but was disguised as parts for air compressors.”

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Fueling the Future: Sudbury conference focuses on critical minerals – by Hugh Kruzel (Sudbury Star – June 5, 2024)

https://www.thesudburystar.com/

Those who attended also talked about the supply chain to deliver them

Once again, Cambrian College was the site of the BEV In-Depth: Mines to Mobility conference. This third annual conference, held last week, gathered players in the Battery Electric Vehicle future of Ontario to listen, learn and exchange ideas.

“It is a natural fit for us – and Sudbury – to step forward into this future,” said Shawn Poland, Cambrian’s vice president of External Partnerships, Strategic Enrollment. “Cambrian and other Sudbury institutions can play an important role in research and development.”

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