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Canadian Media Resource Articles

BHP Woos South Africa in Pursuit of $39 Billion Anglo Takeover – by William Clowes, Clara Ferreira Marques and Thomas Biesheuvel (Bloomberg News – May 1, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — BHP Group Ltd. has deployed a senior team including its chief executive officer to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American Plc.

The executives have already begun conversations with key stakeholders, focusing on explaining the detail of the existing $39 billion proposal — currently back on the drawing board after it was rapidly rejected by its target — and its benefits, according to people familiar with the matter. Melbourne-based CEO Mike Henry has flown to South Africa and was in the country on Thursday, the people said.

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Barrick CEO signals protracted fight against Mali government intervention in mining sector – by Niall McGee (Globe and Mail – May 2, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. is signalling it could be in for a protracted slog in Mali, as the big Canadian gold miner pushes back on the military government’s demands for a greater share of the country’s mining spoils.

Barrick on Wednesday said Mali is seeking unspecified changes to the tax, financial and legal regime at its Loulo-Gounkoto mining operations. The site is on track to produce 535,000 ounces of gold this year and is the company’s biggest operation by far in Africa.

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Canada is ‘missing the mark’ on remediation and reconciliation, says Yellowknives Dene chief – by Liny Lamberink (CBC News North – May 02, 2024)

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

Environmental watchdog released audit on northern contaminated sites this week

A chief of the Yellowknives Dene First Nation says an auditor’s report about contaminated sites shows Canada is “missing the mark” when it comes to remediation and reconciliation in the North.

It’s one perspective northerners are sharing after the federal environmental watchdog released a report Tuesday that scrutinizes how Ottawa has managed contaminated sites in the North. A Yukon mining analyst has also agreed with its finding that longer-term plans are needed for some of the North’s big, abandoned mines.

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The true cost of critical minerals – by Emilie Cameron, Rosemary Collard & Jessica Dempsey (National Observer – May 2, 2024)

https://www.nationalobserver.com/

The 2024 federal budget bolsters Canada’s ambitions to be a global supplier of critical minerals. Corporate tax incentives and shorter environmental review periods have been added to an earlier commitment of $4 billion in support of mining copper, lithium and other minerals essential to green technologies like e-vehicles, solar panels and wind turbines.

Amid a global scramble to secure critical minerals supply chains, Canada is highlighting its environmentally sustainable approach to extraction, anchored in “respect for Indigenous and treaty rights.” What does all this look like on the ground?

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Red Pine Exploration plunges as it retracts all assays for Wawa gold project – by Staff (Mining.com – May 1, 2024)

https://www.mining.com/

Red Pine Exploration (TSXV: RPX) said on Wednesday it has withdrawn all previously announced assays for the Wawa gold project in Ontario after discovering “inconsistencies” in certain results.

These include assay results announced by way of press releases and those referenced in past disclosure documents, such as the NI 43-101 report for the Wawa project dated June 2023, the company said.

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Column: Mining giants Vale, Glencore failing Greater Sudbury – by John Caruso (Sudbury Star – May 1, 2024)

https://www.thesudburystar.com/

John Caruso is a Sudbury businessman and a concerned citizen.

Canada and Ontario are willing to sell off our non-renewable resources with little concern for the host community

There is something wrong with this picture: As our city moves toward some historic investments in quality-of-life assets, concerns are being raised regarding long-term debts being incurred and their impact on residential taxes.

I strongly believe that the planned investments in a new event centre and cultural hub at Tom Davies Square are critical investments in our ability to attract and retain population and economic growth.

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Antarctic volcano emits $6,000 worth of gold daily – by Mining.com Staff (Canadian Mining Journal – April 30, 2024)

https://www.canadianminingjournal.com/

Mount Erebus spews around 80 grams of gold into the frigid air of Antarctica daily.

Mount Erebus, one of the world’s most active volcanoes, spews around 80 grams of gold into the frigid air of Antarctica daily, IFLScience reported.

The volcano, one of Antarctica’s 138 active ones, reportedly emits pockets of gas containing crystallized gold each day, valued at almost $6,000.

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OPINION: Natural resources are more important to the economy than city-dwellers realize – by Preston Manning (Globe and Mail – May 1, 2024)

https://www.theglobeandmail.com/

Preston Manning is the former leader of the Reform Party of Canada and a former leader of the opposition in Canada’s Parliament.

What is Canada’s strongest feature on the global economic stage? We don’t have the largest population on the planet. We don’t have the biggest GDP. We aren’t a financial powerhouse and we don’t have the smartest or most economically astute government.

But area-wise, we are the second-largest country on Earth, which means that we have the second-largest, or perhaps even the largest, stock of natural resources on the planet – an enormous source of strength and responsibility if we would only recognize it, capitalize on it, and make its future development and stewardship a national priority.

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Underground development at N.W.T.’s Ekati mine needs Tłı̨chǫ gov’t sign-off, says regulatory board (CBC News North – April 30, 2024)

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

Sable proposal needs Tłı̨chǫ sign-off, says Wek’èezhìı Land and Water Board

If the company that owns the Ekati diamond mine in the N.W.T. wants to proceed with an underground mining project, it has to get sign-off first from the Tłı̨chǫ government, a regulatory board has ruled.

Just north of Ekati’s main camp — and 300 kilometres northeast of Yellowknife, give or take — there’s already an open pit to access kimberlite, called the Sable open pit. An underground development would aim to pull out more of that diamond-containing rock.

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US, Philippines Eye Partnership to Cut China’s Nickel Dominance – by Peter Martin and Jennifer Jacobs (Bloomberg News – April 30, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — The U.S. and the Philippines are in discussions over ways to prevent China from dominating nickel processing in the Southeast Asian nation, a key supplier of the metal that’s crucial for electric vehicle batteries.

One measure under consideration is a trilateral arrangement through which the Philippines would supply raw nickel material, the U.S. would provide financing, and a third country such as Japan, South Korea or Australia would offer the technology required for smelting and refining, according to people familiar with the matter.

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Gold Futures Tumble Below $2,300 as Traders Brace for Fed’s Hawkish Pivot – by Gary Wagner (Kitco New – April 30, 2024)

https://www.kitco.com/

Gold futures prices plummeted on Tuesday, dipping below the crucial $2,300 per ounce level, as traders braced for a potential hawkish shift from the Federal Reserve in its upcoming policy decision.

The precious metal, often viewed as a hedge against inflation, came under intense selling pressure amid concerns that the central bank could strike a more aggressive tone on future rate hikes.

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Graphite miners lobby US govt to impose levy on China-sourced EV material – by Divya Rajagopal (Reuters – April 30, 2024)

https://www.reuters.com/

TORONTO, April 30 (Reuters) – North American graphite miners are lobbying the US government to impose a 25% tariff on three graphite products sourced from China in order to counter Beijing’s monopoly on a key material used in automobile batteries.

If successful, the move will pit the miners against their main customers- the original equipment manufacturers (OEMs) and add to tensions with China, which controls the majority of the critical metals used in the world’s electric vehicles and other motors. The U.S. government is set to decide in May whether to bring graphite into the list of minerals that attract the higher Section 301 tariff.

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Barrick accused of using virtual AGM format to misrepresent or ignore shareholder concerns – by Niall McGee (Globe and Mail – May 1, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. is being accused of using the virtual format for its annual general meeting to suppress critical questions from stakeholders. After holding a hybrid AGM last year that allowed stakeholders to show up in person, the Toronto-based gold mining company, which is the world’s second biggest by market value, went to a virtual-only format this year.

Virtual AGMs have attracted the ire of some shareholder-rights groups. In an open letter to members of the S&P/TSX 60 Index in April, a group of 38 institutional investors, advisers, portfolio managers and non-profits argued that online meetings can undermine shareholder rights, by allowing companies to cherry-pick questions, or change the wording of them.

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Tim Gitzel, CEO of uranium miner Cameco, is our Mining Person of the Year for 2023 – by Alisha Hiyate (Northern Miner – April 19, 2024)

https://www.northernminer.com/

Tim Gitzel, an executive at Cameco (TSX: CCO; NYSE: CCJ) for 17 years and president and CEO for 13, has led the company through more bad times than good. Among the bad times: repeated flooding at the Cigar Lake mine; the post-2007 uranium price crash; and the more devastating doldrums after the Fukushima nuclear disaster in 2011.

Among the good times: right now. The company’s shares have doubled in the past year, following the exploding uranium price. But Gitzel’s careful preparation has positioned Cameco for such a moment, when supply challenges, geopolitics, and renewed fervour for nuclear power have swung uranium back into favour.

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AME applies to intervene in Gitxaala v British Columbia appeal on Mineral Tenure Act – by Amanda Stutt (Mining.com – April 29, 2024)

https://www.mining.com/

The Association for Mineral Exploration (AME) announced Monday it has formally applied for intervener status in the ongoing appeal of Gitxaala Nation v. British Columbia (chief gold commissioner).

In September 2023, a judicial review ruled that the government of British Columbia owes a duty to consult indigenous peoples with asserted rights and title when granting mineral claims. The court recognized that the province could change the manner in which the act is implemented by the chief gold commissioner or change the legislation.

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