In early March, I was shocked to learn that only 6% of the world’s cobalt is produced as a primary mine product while 94% is produced as a by-product of nickel and copper mining. I found those ratios alarming because:
-Cobalt is an essential raw material in all high-energy lithium-ion batteries;
-While conservative analysts forecast that the battery industry’s cobalt requirements will double over the next 10 years, rapid and sustained growth in electric vehicles (EVs), stationary energy storage and other lithium-ion battery applications could drive that demand multiple much higher;
-By-product availability is always dependent on sales of the primary metal and miners cannot respond to increased demand for by-product metals that aren’t matched by increased demand for their primary products;
The Cobalt silver rush was more important than the Klondike gold rush but few people know of its existence. By buying a book, you are helping share the incredible history of Cobalt and raise money for the Historic Cobalt Legacy Fund.
My name is Nicole Guertin and I am the co-owner of the Presidents’ Suites with my partner Jocelyn Blais. The Presidents’ Suites consists of historical homes situated on the shores of beautiful Lake Temiskaming. We are passionate about the region’s unique history and would like everyone to share our passion.
Fund to Support the Preservation of Cobalt’s Historical Past and Cultural Heritage
Cobalt, Ontario; June 4, 2015 – Agnico Eagle Mines Limited (NYSE:AEM; TSX:AEM) (“Agnico Eagle” or the “Company”) is pleased to announce that it has pledged a $1 Million Gift to the Historic Cobalt Legacy Fund. The announcement was made earlier today in the Town of Cobalt at a ceremony honouring former employees of Agnico Eagle’s Cobalt silver division.
Former Agnico Eagle silver division employees gathered in Cobalt, Ontario for a plaque dedication ceremony in honour of all of Agnico’s former silver division employees who helped to transform Agnico Eagle into a leading international gold company.
“We are very pleased to make this contribution in honour of Agnico Eagle’s founder Paul Penna, as well as on behalf of all the men and women whose commitment, perseverance and spirit helped to transform Agnico Eagle into a leading international gold mining company”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Cobalt is the foundation of our Company and as many of our former silver division employees remain in the region, they will continue to benefit from the preservation of these important cultural and community organizations.”
Historian, author and photographer Thomas Blampied has been interested in railways for as long as he can remember. Growing up east of Toronto, he spent summer evenings sitting trackside with his father watching streamlined VIA trains race past and long freight trains rumble by. From these early railway experiences grew a lifelong passion for railways and rail travel which has manifested itself through model railroading, photography, writing, railway preservation and the academic study of railway history. This is his fourth book about railways in Ontario. He has studied in both Canada and the United Kingdom and currently resides in Southern Ontario.
Chapter 4: The North
The next station was one I had been looking forward to for many years – Cobalt. Legend has it that the town’s silver bonanza was set off by one Fred La Rose, a blacksmith, who threw a hammer to scare away a fox. According to the tale, when his hammer missed the animal and hit the ground, it uncovered a vein of silver. While this story might be true, the credit for the first silver find goes to J.H. McKinley and Ernest Darragh, who were scouting for suitable timber for railway ties.
Their claim predated La Rose’s by a month and, besides, La Rose incorrectly identified his silver vein as copper. The approach to “Silver City,” renowned for its steep and winding streets, is truly special as the line carves a long, sweeping curve around the lakeshore before passing the station. We were one minute late at 4:21 but, with nobody there, we rolled right by the large station and on past the preserved mine buildings. This is what I had wanted to see for so long. Some of the most iconic shots of the ONR over the years have been taken from the road bridge overlooking this spot – with the mine to the left and the railway snaking around an “s” curve to the right.
Not sure if my spring/2014 essay [http://bit.ly/1upri55]on Northern Ontario mining history had any influence on CBC to incorporate the Cobalt Silver Rush into a recent episode of the highly acclaimed “Murdoch Mysteries”, but you have to give the giant broadcaster credit for helping educate all Canadians about a little known part of our history! (Stan Sudol – Owner/Editor RepublicOfMining.com)
TV, eh? covers news, reviews and interviews about Canadian television shows, with the odd foray into the odd industry that produces them.
For over 15 years, Greg David has been a television critic for TV Guide Canada, the country’s most trusted source for TV news. He is a member of the Television Critics Association. greg@tv-eh.com
Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.
To say it was impulse for Nicole Guertin to purchase a century-old mansion while on a brief 2003 visit to Haileybury is a gross understatement.
But Guertin, who, along with her partner, Jocelyn Blais, is the proprietor of Presidents’ Suites and Prospector’s House guest homes, was so struck by the beauty and history of Temiskaming, she followed through on her instinct.
“A lot of people in the North — Timmins, Kapuskasing — we come down and we’re always in a hurry; we never come through Haileybury, so we don’t know what’s here,” said Guertin, who hails from Kapuskasing. “It was really the first time I came here, and I was surprised how beautiful it was.”
The house isn’t like any other. The rambling mansion overlooking Lake Temiskaming along Millionaires’ Row was built in 1906 by Arthur Ferland, a mining bigwig who struck it rich during the Cobalt silver-mining boom. His wealth was reinvested into the original Timmins gold discovery and helped build the industry there.
Despite the home’s grandeur, it required a lot of work to bring it up to a high standard, and when zoning complications thwarted Guertin’s original plan for a B&B, she opted for suites instead, completely gutting the home and rebuilding it one room at a time.
Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business ianross@nob.on.ca.
A Haileybury hotelier and tourism promoter wants to revive the area’s rich mining history and introduce it to a wider audience.
Nicole Guertin, co-owner of Presidential Suites, is hosting a media familiarization tour in early May designed to spark interest in the famed Cobalt mining camp and its impact in today’s Canadian mining industry.
While the Yukon has its lore of the Klondike, Guertin said the story of Cobalt and its place in Canadian history needs to be told. “Being in the middle of this Abitibi-Timmins-Sudbury triangle, we haven’t really sold the area that much for mining.”
Since permanently settling in the Temiskaming area three years ago, Guertin and her partner, Jocelyn Blais, have purchased, renovated and rent out five historical homes in Haileybury.
Their most recent acquisition is a home they’ve dubbed Prospectors’ House, refurbished to highlight the history of the 1903 Silver Rush in Cobalt. Interior decorator Renelle Laliberte of Toronto decorated the four-storey home with a rustic theme in keeping with local mining history, and it features several original works by local artists.
For crying out loud, I continue to be astonished with our collective Canadian obsession over the Klondike Gold Rush while northern Ontario’s rich and vibrant mining history is completely ignored by the Toronto media establishment, especially the CBC.
Discovery Channel’s recent six-hour mini-series on the Klondike – vaguely based on Charlotte Gray’s book, “Gold Diggers: Striking It Rich in the Klondike – once again highlighted this glaring snub.
Unfairly, the Klondike did have the benefit of terrific public relations due to famous writers like Jack London, Robert W. Service and Pierre Berton, but I still don’t understand how this brief mining boom continues to dominate the “historical oxygen” in our national psyche.
At its peak, the Klondike only lasted a few years – 1896-1899 – and produced about 12.5 million ounces of gold. And unlike the California gold rush that created one of the largest and richest states in the union, the entire Yukon Territory’s population today is about 36,000. Contrast that with booming Timmins with 45,000 hardy souls who have dug out of the ground about 68 million ounces and counting of the precious metal, since the Porcupine Gold rush of 1909.
It’s enough to make to make Benny Hollinger, Jack Wilson and Sandy MacIntyre – the founders of this extraordinary deposit – spin in their collective graves!
Refining, milling, assaying and bulk sampling capacity creates critical mass
Proclaiming the rebirth of Cobalt, one of Ontario’s earliest mining camps, may be a stretch, but the recent reopening of the Yukon Refinery just north of town is a step in the right direction.
The refinery had been in mothballs for 13 of the preceding 15 years when United Commodity AG of Switzerland purchased it in June 2012. It has since added a Merrill-Crowe process for gold and silver recovery and struck some longterm deals for processing concentrate.
Originally a silver mill, Cobatec purchased and converted it to a recovery plant for tailings in the early 90s, recalled plant supervisor Gunner Skillins. “That didn’t work too well, so we went into feed from a smelter stack in Cuba containing both cobalt and nickel.”
That, too, proved short-lived. The plant shut down and was purchased in the late 90s by Canmine Resources, which operated it for a few years before going bankrupt. Ownership devolved to the bondholders represented by a Swiss financial group, which kept it on care and maintenance while trying to sell it for 10 years.
The Toronto Star has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.
Early on in the 20th century, the silver and gold mines of Northern Ontario imported thousands of foreign workers. The mine owners said they were filling a labour shortage. But their real reason was to keep wages down.
So when native-born, anglophone miners went on strike in Cobalt or the Porcupine region, the owners shipped in French-Canadians. And when they went on strike, Finns were brought in and, after them, Ukrainians and Poles and Italians and Englishmen from Cornwall.
In every case, the point of the exercise was to bring in workers who were less likely to make common cause with those already there and who, therefore, would be willing to work for less.
It was an ugly time in our history and it gave rise to very ugly labour disputes. So it is depressing in the extreme to see employers, aided and abetted by the federal government, engage in the same discredited tactics.
The latest and most bizarre example comes from British Columbia where, as the Vancouver Sun has reported, four brand new coal mines in the province’s northeast are bringing in just under 2,000 temporary Chinese migrants to do most of the work.
I was a keynote speaker at the recent Murdock Capital Partners Critical Metals / Strategic Elements Symposium in New York City. This is my second gig at one of convener Tom Dean’s on-going series of symposia and I thank him for continuing support. Although the venue is small, intimate, and limited to 75 attendees, the investor quality is second to none, particularly in the amount of money represented and managed. In my presentation I categorized the metals critical to modern-day civilization and reviewed the minor metals that are increasingly used by society in new technological applications.
Recently a plethora of alternative names have been proposed and promoted for what were once known as the specialty or minor metals. These mostly obscure elements span the gamut from the lightest to the heaviest on the periodic table. In my opinion, analysts and investors alike have become confused by these newly-invented misnomers.
Much of the confusion can be blamed squarely on two recent reports from the United States government.
In December 2010, the US Department of Energy (DOE) produced a report entitled “Critical Metals Strategy”. It identified seven rare earth elements and three minor metals (lithium, indium, and tellurium) that are or could become in high demand and short supply from 2011-2025. The DOE list and analysis was predicated on future growth fueled by Obama’s proposed subsidies of the electric and hybrid vehicle, wind turbine, solar, and fluorescent lighting industries.
Founded in 1928, Canadian Businessis the longest-publishing business magazine in Canada.
It’s a bit like discovering your spouse’s name on a marriage certificate—to somebody else. Written in French and bearing official-looking stamps in red and black ink, the 56-page contract detailed a joint venture between a collection of mysterious shell companies and the government of the Democratic Republic of the Congo. The happy new partners had agreed to harvest a valuable collection of mining scrap heaps called the Kolwezi Tailings. But for executives at First Quantum Minerals, the implication seemed clear: its crown jewel had just been stolen.
This was not entirely unexpected. Founded in the mid-1990s, Vancouver-based First Quantum developed a reputation for mining in difficult frontier countries. The Congo is the frontier of frontiers, where one either takes or is taken. Since Belgium’s King Leopold II ran the country as a private fiefdom in the late 19th century, a dominant theme of Congolese history has been plunder of this abundant natural endowment by those in power.
Beneath its soils lie some of the world’s richest reserves of copper, cobalt, uranium, gold, diamonds and other resources. First Quantum coveted the copper- and cobalt-rich scrap heaps; it invested years and billions of dollars building the necessary infrastructure to harvest them. But then its relationship with the Congolese government went to hell. Losing its mining licence to someone else was just a formality.
Historically, Ontario’s gold mining industry has played a major role in the settlement of the province’s northern regions and along with the Cobalt silver boom and further gold and base metal discoveries in northwestern Quebec were primarily responsible for the establishment of Toronto as today’s mine financing capital of the world.
The many gold mines that came into production during the Depression of the 1930s made a vital contribution to keeping the province solvent and with over a century of experience building many underground mines helped solidify Ontario’s hard-rock mining expertise that is well respected globally.
However, northern Ontario’s gold rushes have always seemed to play second-fiddle to the legendary Klondike in the Yukon, aided by famous writers like Jack London, Robert W. Service – of the Cremation of Sam McGee fame – and Canadian literary icon, Pierre Berton. At it’s peak, the Klondike gold rush only lasted for a few years – 1896-99 – and produced a miserly 12.5 million ounces of gold. “Chump change” compared to northern Ontario’s four major gold rushes and a number of smaller gold districts, most of which are still producing the precious metal today.
A fever is spreading throughout northern Ontario, from the eastern districts adjacent Quebec to the far reaches of the northwest right up to the Manitoba border. This raging malaise is caused by a metal that has captured mankind’s attention from the dawn of time. I am referring to “gold fever” and many in northern Ontario – a vast northern territory, which is almost equal to Germany, United Kingdon, Greece and Ireland combined – are thoroughly infected or obsessed over this beautiful precious metal.
Historically, Ontario’s gold mining industry has played a major role in the settlement of the province’s northern regions and along with the Cobalt silver boom and further gold and base metal discoveries in northwestern Quebec were primarily responsible for the establishment of Toronto as today’s mine financing capital of the world.
The many gold mines that came into production during the Depression of the 1930s made a vital contribution to keeping the province solvent and with over a century of experience building many underground mines helped solidify Ontario’s hard-rock mining expertise that is well respected globally.
However, northern Ontario’s gold rushes have always seemed to play second-fiddle to the legendary Klondike in the Yukon, aided by famous writers like Jack London, Robert W. Service – of the Cremation of Sam McGee fame – and Canadian literary icon, Pierre Berton. At it’s peak, the Klondike gold rush only lasted for a few years – 1896-99 – and produced a miserly 12.5 million ounces of gold. “Chump change” compared to northern Ontario’s four major gold rushes and a number of smaller gold districts, most of which are still producing the precious metal today.
Considering the record setting price of gold, moving upwards almost daily, the political stability of northern Ontario and its strong world-class mining infrastructure versus lesser developed countries like Tanzania, Guatemala or Papua New Guinea, exploration in all current and former gold mining camps is booming.
My father-in-law, “Ole Hec” McQuarrie was a colourful, ebullient hardrock shaftman and nowhere was this more evident than at table No. 7 (Ole Hec’s table) at Albert’s Hotel, Timmins, Ontario.
George Hector McQuarrie was born in Dartmouth Nova Scotia, was orphaned at an early age and raised by a doting aunt. He was educated in private school where he excelled in mathematics. Things went smoothly until the summer he turned 18 and got a job in a gold mine in Moose River Nova Scotia. He liked mining and would not return to school. By 19 he was working in the shaft.
Cobalt was the hot spot in mining then so Hector said goodbye to Moose River and headed to silver. He started in a shaft being sunk by the well-known shaft contractor Foghorn MacDonald and it wasn’t long before he was leading a shift. When Foghorn was awarded the contract to sink the shafts and do the connecting work for the world famous compressed air plant at Ragged Chutes, he named Hec as leader of the “Nova Scotian” unit. Foghorn always kept the Cape Breton ex-coal miners on one shift and the Nova Scotian “herring chokers” on another shift to avoid dissension (and broken heads).
