Northern Dynasty Minerals (TSX: NDM)(NYSE: NAK) published on Wednesday an updated preliminary economic assessment (PEA) for its Pebble copper project, which includes an infrastructure plan for a “southern route” access to the proposed mine in Alaska.
The Canadian miner said the independent technical report reviews cost and price estimates to reflect current economic volatility, providing production, financial and cost estimates for a proposed 20-year, 180,000 tonnes per day open pit operation.
Reko Diq adds uncertainty for investors, but Barrick is ‘no stranger to frontier jurisdictions’
For three decades, international mining companies have tussled with officials and locals over a patch of desert around an extinct volcano in Pakistan’s neglected, insurgent-prone western province of Balochistan.
Now, after resolving years of legal disputes, Barrick Gold Corp. wants to invest US$7 billion to revive the mining project Reko Diq, which experts believe contains one of the world’s largest untapped reserves of copper and gold.
https://www.northernontariobusiness.com/
Junior mining companies insist Timmins camp has millions of ounces to be unearthed
Exploration players are bringing fresh eyes and are testing out new geological theories in making gold discoveries in an outlying area of the Timmins gold camp. The area east of Timmins, toward Matheson, has attracted a cluster of junior mining companies that might unlock the next generation of gold production in the camp for years to come.
Executives from three companies — GFG Resources, Moneta Gold and Onyx Gold — rounded up with this week for a 6ix webinar, hosted by Junior Resource Investing, that highlighted their activity and their approach to exploration in the East Timmins part of the camp.
https://www.cbc.ca/news/canada/nova-scotia/
Atlantic Mining Nova Scotia says it is ‘fully committed’ to developing Cochrane Hill gold mine
A conservation group in Nova Scotia is raising concerns about plans to develop a gold mine in Guysborough County because of the site’s proximity to one of the province’s longest rivers.
Atlantic Mining Nova Scotia Inc., a wholly-owned subsidiary of the Australia-based St Barbara Ltd., announced last week that it was “fully committed” to the Cochrane Hill project on the province’s Eastern Shore.
https://www.theglobeandmail.com/
The wreck of S.S. Pacific was of B.C.’s worst maritime disasters, and while Canadians largely forgot it, these treasure hunters persisted for three decades till they hit paydirt. Now, their mission has just begun
When two childhood pals from Seattle began searching for the S.S. Pacific, which sank shortly after departing Victoria on the morning of Nov. 4, 1875, its exact co-ordinates had remained a mystery for more than a century.
Though not widely known, the wreck of the Pacific – a disaster that killed hundreds of people and sent millions of dollars of B.C. gold to the perpetual midnight of the ocean floor – remains the Northwest’s worst maritime disaster.
‘We have been stripped of our right to defend our livelihood in court,’ says Michael Malouf
GREENSTONE — A Geraldton-based prospector is upset after being removed from a lawsuit by Ginoogaming FIrst Nation over mineral exploration in its traditional territory.
The First Nation unexpectedly served a Notice of Discontinuance last month to halt its court case against Michael Malouf and another area prospector, while continuing the same action against the Ontario government.
Brazil’s largest criminal groups, the First Command of the Capital (PCC) and the Red Command (CV), have been working together with illegal miners in the Amazon, hampering government efforts to eradicate mining and contributing to increased violence in Brazil’s Yanomami reservation, the largest indigenous territory in the world and home to approximately 30,000 indigenous people.
The criminals provide heavy machinery and weapons to miners, acting as security guards at certain sites, and helping to transport mined gold out of the Amazon. They also run prostitution and narcotrafficking rings on Yanomami land.
https://www.northernontariobusiness.com/
Frank Giustra-backed upstart company more than a year away from Red Lake mine restart
Shane Williams and West Red Lake Gold Mines are in no big rush to put the dormant Madsen Mine back into production. The Vancouver gold company intends to take a methodical approach to set things right and deep dive into the deposit before resuming production at the shuttered underground mine, southwest of the town of Red Lake.
Months and months of underground drilling is on the docket to get a more accurate picture of the ore body and a better impression of the area’s geology, before they’ll even entertain the thought of a restart.
Sitting at an altitude of 2,700 metres, Real del Monte is a pretty town in the Mexican state of Hidalgo. But with its architecture, heritage of silver mining and meat pasties, it is also a little slice of Cornwall, a region in the southwest of England.
The silver mines surrounding Real del Monte were the source of more than half the silver produced during the 300 years that Spain rule Mexico (1521–1821). By 1824, however, they were in bad condition, and were bought by a group of English investors.
A decade after the Spanish Conquistadores toppled the Inca Empire (1532-34), an indigenous Andean prospector, Diego Gualpa, in 1545, stumbled onto the richest silver deposit in the world on a high mountain of 4,800 meters (15,750 feet) in the eastern cordillera of the Bolivian Andes.
Here in the shadow of what the Spaniards called the “Cerro Rico” (“Rich Mountain”) at 4,000 meters (13,200 feet) a mining boom town quickly developed. By the end of the sixteenth century, it had become one of the largest and the highest cities in the world, and in 1561, Philip ll of Spain, decreed that it should be known as the “Villa Imperial de Potosí.”
https://www.northernontariobusiness.com/
Job openings available Argonaut Gold’s Magino Mine starts early production
Construction of the Magino open-pit mine, outside Dubreuilville, is completed and the operational ramp-up is underway. Argonaut Gold delivered that news in releasing its fiscal 2023 second quarter results on Aug. 11.
Though not yet in full commercial production, Magino produced 3,295 ounces during the quarter ending June 30. In a web conference call, the company said the focus is on commissioning activities as they fine-tune the processing mill to a “steady state,” said Marc Leduc, Argonaut’s chief operating officer.
(Bloomberg) — While investors are focused on Ecuador’s tumultuous presidential election, two other measures on the ballot in the Aug. 20 vote will also shape the country’s financial future.
Ecuadorians are expected to vote in favor of referendums to order the closing of a major oil field and restrict gold and copper mining, potentially leaving the government with a large hole in its budget. The initiatives are taking place alongside a presidential race that was thrown into chaos last week when one of the leading candidates was assassinated while campaigning.
(Kitco News) – July was a difficult month for the gold market as both the U.S. Mint and the Perth Mint reported weak bullion sales. According to data from the U.S. Mint, it sold 41,000 ounces in various denominations of American Eagle gold coins. Bullion demand was down 3.5% from June, and down 36% from July 2022.
U.S. Mint sales have dropped to their lowest levels since November and December, when the mint halted its sales to shift production to 2023 minted coins.
https://www.theglobeandmail.com/
Barrick Gold Corp. chief executive Mark Bristow is talking down the chances of buying either of his two biggest competitors, Newmont Corp. and Agnico Eagle Mines Ltd., as he shuns deal-making in favour of growing Canada’s biggest gold company from the ground up.
Barrick has sat on the sidelines in large-scale mergers and acquisitions since Mr. Bristow joined the company in 2019, after it bought Randgold Resources Ltd., a company he founded and ran for two decades.
https://www.northernontariobusiness.com/
Gold company making camp construction preparations while renewing partnership with area First Nations
Kinross Gold is wasting little time in advancing its Great Bear project, outside Red Lake, toward production. In posting its second quarter earnings and production results, the Toronto gold miner is ramping up its exploration efforts in the northwestern Ontario mining camp.
The company is making plans to go underground by carving out a decline at Great Bear to grab a bulk sample for metallurgical analysis while also probing deeper around its high-grade deposit, known as the LP Fault Zone. to look for gold extensions.
