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Canadian Media Resource Articles

Mine tailings in Sudbury, across Canada worth billions – by Darius Snieckus (Sudbury Star/National Observer – March 18, 2025)

https://www.thesudburystar.com/

Waste not, profit much: toxic tailings in Canada could ’re-mined’ for billions of dollars in critical minerals, report says

Toxic tailings discarded at some 10,000 abandoned mines together with those currently being produced by 200 others in operation across Canada could hide a multi-billion-dollar market opportunity as demand for critical minerals explodes globally in the coming decades, a new study has concluded.

Tailings – a byproduct of large-scale mining operations – could be changed “from a liability into asset” by monetizing recovered minerals and metals from current waste for use in renewable energy technologies, data centres, and defence applications, said the report from Action Canada, a leader development programme.

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How Canada can unlock its economic superpower potential – by Tej Parikh (Financial Time/National Post – March 17, 2025)

https://nationalpost.com/

‘With an ambitious policy agenda, the G7 nation can become a major economic force’

The near-term outlook for the Canadian economy isn’t great. The U.S.’s proposed 25 per cent tariffs on goods from Canada could lower its GDP growth by around four percentage points over two years (assuming they come into force and Canada retaliates), according to a Bank of Canada estimate.

But in this column I take a decades-long view, arguing that with an ambitious policy agenda, the G7 nation can become a major economic force. First, a word on its potential.

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UBS and ANZ raise their gold target to $3,200/oz as bullion gets a further boost from geopolitics, tariffs and rate cuts – by Ernest Hoffman (Kitco News – March 18, 2025)

https://www.kitco.com/

(Kitco News) – Banking giants UBS and ANZ both raised their gold price targets well above the key $3,000 per ounce threshold in the latest sign that financial institutions believe the yellow metal’s rally can run higher as geopolitical conflict and trade wars loom large.

The Chief Investment Office of Swiss banking behemoth UBS said in a report on Monday that “[t]he defensive asset has benefited from geopolitical and trade frictions, and renewed expectations for US rate cuts on growth fears.”

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Quebec aluminum towns aren’t feeling the sting of 25 per cent U.S. tariffs – by Joe Bongiorno (The Canadian Press – March 17, 2025)

https://www.thecanadianpressnews.ca/

MONTREAL – Mayors of Quebec aluminum towns say they are confident their regions can withstand the 25 per cent tariffs imposed on the metal by U.S. President Donald Trump, with many saying it’s business as usual.

Layoffs aren’t expected at Aluminerie Alouette in Sept-Îles, Que., a major aluminum producer with some 950 employees, says the town’s mayor, Denis Miousse. The company, which describes itself as the biggest aluminum smelter on the continent, can find new export markets if demand weakens in the U.S., he said.

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Public pushes back against government bill that would lift N.S. ban on uranium mining, fracking – by Michael Gorman (CBC News Nova Scotia – March 17, 2025)

https://www.cbc.ca/news/canada/nova-scotia/

Presenters call out premier’s claim that ban was the result of lazy policy-making

There was nothing lazy about a former government’s decision to ban fracking in Nova Scotia, MLAs heard on Monday.

Multiple presenters to the legislature’s committee on public bills said the Houston government’s plan to lift the ban on uranium exploration and mining and the moratorium on fracking for onshore gas, as proposed in the omnibus legislation Bill 6, should not happen without robust public consultation — if it happens at all.

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Rwandan refinery and mining CEO facing EU sanctions for Congo war role – by Geoffrey York (Globe and Mail – March 18, 2025)

https://www.theglobeandmail.com/

The European Union is imposing sanctions on Rwanda’s only gold refinery and its top mining executive for allegedly dealing in smuggled Congolese minerals, the latest sign of how the mining industry has become embroiled in one of Africa’s deadliest wars.

The EU is sanctioning the Gasabo Gold Refinery on accusations of illegally trading in trafficked gold from sites controlled by the Rwanda-backed M23 rebel militia in eastern Congo, where Rwanda has reportedly sent thousands of troops to support the rebels.

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Gold’s safe-haven bid strengthens amid recession fears, global silver coin sales collapse – Heraeus – by Ernest Hoffman (Kitco News – March 17, 2025)

https://www.kitco.com/

(Kitco News) – The stock market selloff and mounting fears of a recession are driving demand for gold, while sales of silver coins are in freefall as high costs and markups discourage buyers, according to precious metals analysts at Heraeus. In their latest precious metals update, the analysts noted that the market’s current risk-off posture is boosting gold’s safe-haven appeal.

“Concerns over a potential US recession are back in focus, with equity markets showing signs of strain,” they wrote. “The S&P 500 is now 2% lower than at 5 November 2024, when Donald Trump was elected, as persistent uncertainty over trade relations weighs on investor sentiment. On 7 March, hedge funds unwound single-stock positions at levels comparable to March 2020, reflecting a notable shift toward risk reduction.”

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Northwestern Ontario’s Ring of Fire central in U.S.-Canada trade war: experts – by Michelle Allan (CBC News Thunder Bay – March 17, 2025)

https://www.cbc.ca/news/canada/thunder-bay/

How a remote peat bog became a key figure in a global political conflict

The Ring of Fire in northwestern Ontario has become a key figure in the battle to control critical minerals, which experts say is the heart of U.S. President Donald Trump’s threats to annex Canada.

While a remote Ontario peat bog may not be the stage that first comes to mind when picturing the geopolitical conflict, the critical minerals beneath it are essential to renewable energy and digital technology.

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Glencore overhauls embattled Canadian smelters as margins plunge – by Julian Luk and Thomas Biesheuvel (Bloomberg News – March 14, 2025)

https://www.bnnbloomberg.ca/

Glencore Plc is doubling down on a cost-cutting drive at its Canadian copper and zinc plants following job cuts last year, in a further overhaul of its global smelting business following a collapse in processing margins.

The company’s copper plants in Quebec — as well as several recycling sites in the US — will be absorbed into the miner’s global zinc smelting division, with the aim of increasing business synergies and operational efficiency, according to internal memos seen by Bloomberg.

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Canada exempts Paladin’s PLS from non-resident ownership policy (Mining Weekly – March 17, 2025)

https://www.miningweekly.com/

Uranium miner and developer Paladin Energy has been granted an exemption from Canada’s Non-Resident Ownership Policy (NROP) for its Patterson Lake South (PLS) uranium project in Saskatchewan. The exemption allows Paladin, which is listed on the ASX and TSX, to maintain a 100% controlling interest in PLS as it moves toward commercial production.

The exemption was secured in connection with Paladin’s acquisition of Fission Uranium, which was completed in late December.

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Barrick fined for releasing excessive cobalt into British Columbia river – by Staff (Mining.com – March 15, 2025)

https://www.mining.com/

Barrick Gold has been hit with a C$114,750 (approximately $79,800) fine for its repeated, excessive discharge of toxic materials from the now-decommissioned Nickel Plate gold mine located 3 km away from Hedley, BC.

The decision follows an inspection by provincial inspectors who found that the former underground and open pit mine had been releasing mine waste containing high concentrations of cobalt into Hedley Creek, which flows into the Similkameen River. This occurred on 17 separate occasions between 2021 and 2023, the inspectors found.

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In a world rattled by Trump, Greenland’s election finds itself in a curious place: centre stage – by Paul Waldie (Globe and Mail – March 10, 2025)

https://www.theglobeandmail.com/

It’s hard to imagine that a regional election involving 41,000 voters selecting 31 MPs would merit much international attention. But all eyes will be on Greenland on Tuesday when voters across the island elect a new parliament and grapple with the question of sovereignty.

Ever since U.S. President Donald Trump took office in January, Greenland’s future has been thrown into question. Mr. Trump has demanded that the U.S. annex the ice-covered territory, which has been part of Denmark for centuries.

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Indigenous Services minister says economic reconciliation essential amid Canada-U.S. trade war – by Sarah Law (CBC News Thunder Bay – March 17, 2025)

https://www.cbc.ca/news/canada/thunder-bay/

Education, training for Indigenous people key to closing productivity gap: Hajdu

As the new federal government grapples with how to tackle the growing trade war between Canada and the U.S., Patty Hajdu says a key opportunity to strengthen domestic economies lies with reconciliation.

While more than a dozen positions have been cut in Prime Minister Mark Carney’s lean 24-person cabinet — down from 39 members under former Prime Minister Justin Trudeau — Hajdu has maintained her role as minister of Indigenous Services.

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Gold price breaks $3,000 price barrier: What’s driving the rally and what’s next? – by Neils Christensen (Kitco News – March 14, 2025)

https://www.kitco.com/

(Kitco News) – The gold market has hit another major milestone on Friday morning with the spot market briefly breaking above $3,000 an ounce to set a new all-time high of $3,005.04 just as many North American traders had their first cup of coffee.

Gold’s breakout started late Thursday after consolidating around $2,900 for the last three weeks. Overnight, the yellow metal traded in a narrow range but hit a high of $2,999.99. While gold is down from its session highs, it is still holding on to modest gains. Spot gold last traded at $2,999.10 an ounce, up 0.35% on the day.

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Tariffs, uncertainty, driving nations to tighten grip on critical minerals – by Cecilia Jamasmie (Mining.com – March 14, 2025)

https://www.mining.com/

Tariffs and markets swings are pushing developing countries rich in critical minerals such as cobalt, copper, gold, and lithium, to tighten their grip on their resources more than ever before, a new analysis from risk intelligence firm Verisk Maplecroft shows.

This trend, which has accelerated over the past five years, poses major challenges for mining companies and coincides with intensifying geopolitical competition for raw materials essential to global industries.

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