Iron Ore – Page 9 – Republic of Mining

Baffinland’s new commitments too little, too late, critics say – by David Venn (Nunatsiaq News – April 14, 2021)

April 15, 2021

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Baffinland Iron Mines Corp. has a list of new commitments it has made to communities near its Mary River mine, should its proposed expansion be approved, but critics say it’s not enough.

The Ontario-based mining company wants to build a 110-kilometre railway from its Mary River mine to Milne Inlet, double its iron ore shipments through the Tallurutiup Imanga marine conservation area and add another dock at its port. That proposal is the subject of a Nunavut Impact Review Board hearing underway this week in Iqaluit.

Baffinland has committed to an independent audit of the dust spread by the mine’s operations, to direct how the company will address environmental concerns if its expansion gets the green light.

Steinmetz loses latest battle against Vale over Simandou – by Cecilia Jamasmie (Mining.com – April 5, 2021)

April 6, 2021

https://www.mining.com/

Billionaire Beny Steinmetz, the founder and owner of a company embroiled in a long-drawn-out dispute with Vale (NYSE: VALE) over lost rights to the Simandou iron ore project in Guinea, has lost his latest battle against the Brazilian miner.

The Rio de Janeiro-based miner said on Monday that local prosecutors had closed an investigation into CEO Eduardo Bartolomeo, and other executives and former directors over alleged illegal practices related to the deal to explore the deposit.

At two billion tonnes of iron ore with some of the highest grades in the industry, Simandou is one of the world’s biggest and richest reserves of the steelmaking material.

A Nunavut iron ore mine’s expansion exposes unique quandary of Arctic development – by Niall McGee (Globe and Mail – March 25, 2021)

March 25, 2021

https://www.theglobeandmail.com/

The Nunavut Land Claims Agreement was supposed to be a game changer for the Inuit, but a controversial expansion proposal for a mine on Baffin Island exposes the vulnerabilities of the historic pact.

Oakville, Ont.-based Baffinland Iron Mines Corp. plans to double its iron ore production at its Mary River mine, which went into production in 2014.

The company also wants to build a railway that would transport ore from North Baffin to Milne Port, 110 kilometres away. Baffinland says the expansion is crucial to ensuring the mine is profitable over the long run.

Massive new port could give Vale back iron ore crown – by Bruno Venditti (Mining.com – March 18, 2021)

March 19, 2021

https://www.mining.com/

Global production of iron ore products reached 2.2 billion tonnes in 2020 and is expected to reach 2.35 billion tonnes in 2021, according to Fastmarkets.

Despite the covid-19 pandemic, Chinese demand and Brazilian supply constraints have propelled iron ore prices to decade-highs above $175 a tonne this quarter.

Global total exports amounted 1,170 million tonnes in 2020, 9.3% higher than in 2019. Total China imports exceeded 73% of the world total shipped.

Pond Inlet MLA says territory is ‘muted’ on controversial Nunavut mine expansion – by Beth Brown (CBC News North – February 23, 2021)

February 23, 2021

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

The MLA for Pond Inlet is criticizing the Nunavut government for taking a back seat in negotiations for the Mary River mine expansion.

In the legislature Monday, David Qamaniq urged the territory to be more vocal about the expansion that, if approved, would see production double from six to 12 million tonnes a year at the iron ore mine on north Baffin Island.

“My constituents are wondering why the territorial government seems to be able and willing to impose restrictions on caribou hunting in this region to protect the health of the species, but does not seem able or willing to impose restrictions on the mining company to protect our land, water and wildlife,” Qamaniq said during question period.

Key Inuit organization signals it will oppose Baffinland iron ore mine expansion – by Niall McGee (February 22, 2021)

February 23, 2021

https://www.theglobeandmail.com/

The regional Inuit organization that represents the Inuit on Baffin Island is signalling it will likely oppose the proposed expansion of the Mary River iron ore mine because of the damage it believes would be wreaked on the environment and on the livelihoods of the Indigenous population.

Privately held Baffinland Iron Mines Corp. has proposed doubling its production at Mary River to 12 million tonnes a year.

The Oakville, Ont.-based miner also wants to build a railroad that would transport ore from its complex in North Baffin to Milne Port, about 100 kilometres away. Baffinland says the expansion is crucial to turn a marginal operation into a profit-making one.

Nunavut mine says it’s not allowed to harm Inuit harvesting – by Beth Brown (CBC News North – February 17, 2021)

February 17, 2021

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

In the wake of last week’s blockade, Baffinland Iron Mines Corporation says it has heard the call to slow down plans to expand production at the Mary River mine.

“It’s unfortunate that they felt they had to go to those extremes to be heard,” said Udloriak Hanson, Baffinland’s vice-president of community and sustainable development, about the protesters who blockaded the mine’s airstrip and trucking road for a week.

Baffinland wants to double the mine’s output from six to 12 million tonnes of iron ore by building a railway and increasing shipping through a narwhal habitat. The protesters say that would damage the environment, and affect their harvesting rights.

BHP’s outlook, record dividend fuel supercycle talk – by Cecilia Jamasmie (Mining.com – February 16, 2021)

February 16, 2021

https://www.mining.com/

BHP (ASX, LON, NYSE: BHP) reinforced talks of a new supercycle on Tuesday by rewarding investors with a record $5.1 billion first-half dividend and forecasting a “very constructive” outlook for the commodities market fundamentals, as the global economy begins to rebound from covid-19.

The world’s largest miner said first-half profit jumped by 16%, hitting a seven-year high, as demand from top metals consumer China helped boosting iron ore prices by 70% in 2020, to a recent nine-year high of $176.90 a tonne.

That is well above the cost of roughly $10 to $20 a tonne most global miners spend in extracting the steel-making commodity, according to WSJ.com estimations.

Mary River mine blockade highlights Nunavut Agreement’s fatal flaw – by Jim Bell (Nunatsiaq News – February 12, 2021)

February 16, 2021

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The land claim agreement empowers Inuit organizations — and disempowers Inuit communities

All of us who care about Nunavut will be relieved that the protesters who occupied the Mary River mine’s airstrip and tote road for most of this past week have decided to end their blockade. Because in doing so, they’ve avoided a potentially ugly confrontation.

The protesters, who call themselves the Nuluujaat Land Guardians, blockaded Baffinland Iron Mines Corp.’s mine on north Baffin over this past week to oppose its proposed expansion, and to protest the Qikiqtani Inuit Association’s role in the process.

The expansion, which is still before a public hearing, would double the mine’s output and see a 110-kilometre railway combined with up to 176 ship-transits through the environmentally sensitive waters of Eclipse Sound.

Traditional owners go mining, bypass iron ore giants – by Peter Ker (Australian Financial Review – February 12, 2021)

February 12, 2021

https://www.afr.com/

The newest player in the lucrative Pilbara iron ore industry also happens to be the region’s oldest.

Fed up with mining companies that don’t adequately care for their country and cultural heritage, the traditional owners of Australia’s busiest iron ore mining district are taking matters, and drill rigs, into their own hands.

In a stark illustration of the changing relationship between Australia’s biggest export industry and the nation’s original inhabitants, the Eastern Guruma people have established their own mining company and applied for nine exploration permits within their native title area.

Inuit hunters’ blockade at Mary River iron ore mine lifted after meeting proposed to discuss concerns – by Niall McGee (Globe and Mail – February 12, 2021)

February 12, 2021

https://www.theglobeandmail.com/

A week-long blockade by a small group of Inuit subsistence hunters at the Mary River iron ore mine in Nunavut has been lifted, after protestors received encouraging signs that their concerns about a planned expansion of the mine will be heard.

Baffinland Iron Mines Corp. has proposed doubling its production of iron ore at Mary River to 12 million tonnes a year. The privately held miner also wants to build a railroad that would transport ore from its complex in North Baffin to Milne Port, about 100 kilometres away.

On the evening of Feb. 4, a group of hunters set up blockades at an airstrip and supply road at the mine in Baffin Island. The hunters said they were concerned that a bigger operation at Mary River could decimate the marine mammal population, which they depend upon for food.

Baffinland seeks court injunction to permanently end Inuit blockade at Nunavut mine – by Niall McGee (Globe and Mail – February 11, 2021)

February 11, 2021

https://www.theglobeandmail.com/

Baffinland Iron Mines Corp. is seeking a court injunction to permanently end an almost week-long blockade by Inuit subsistence hunters that has caused havoc at its Mary River iron ore mine in Nunavut.

Last Thursday, a group of hunters set up blockades at an airstrip and supply road at the mine, saying their concerns about a planned expansion of the facility haven’t been heard. They fear an expansion would hurt the environment and their livelihoods.

Oakville, Ont.-based Baffinland said the blockades are preventing employees from leaving the mine, and stopping key supplies, such as food and medicine, from getting in.

Mary River mine needs a railway to survive, new economic report says – by Jim Bell (Nunatsiaq News – February 8, 2021)

February 9, 2021

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Baffinland Iron Mines Corp.’s Mary River mine is unlikely to survive without a railway to carry greater quantities of ore to Milne Inlet, says a report commissioned by the company.

The report, titled Mary River Project Economics Explained, was submitted to the Nunavut Impact Review Board this month during its public hearing on Baffinland’s expansion proposal for the Mary River mine, which adjourned Feb. 6 and is to resume in March.

The company filed the economic report in response to an earlier economic analysis done for the Oceans North conservation group by a firm called OpenOil, which said Baffinland’s existing truck route is capable of making a profit for the company.

Mary River mine at a standstill as hunters’ blockades enter 5th day – by Dustin Patar (Nunatsiaq News – February 8, 2021)

February 9, 2021

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A blockade of the Mary River iron mine continued into its fifth day, as a group of hunters opposed to the mine’s expansion demanded they be recognized as an Inuit association and be paid a portion of the royalties the mine generates.

“We would like to see actual negotiations with the most impacted communities and have us involved right away,” said Naymen Inuarak, one of the hunters currently at the Mary River mine site, in an interview via satellite phone. “We’ve been ignored way too long.”

Late last Thursday, a group of seven hunters from Arctic Bay and Pond Inlet arrived at the mine site and shut down the airstrip and road that leads to Milne Inlet, in protest of the mine’s Phase 2 expansion.

Commentary: Poor information allowed to be tabled on Mary River economics – by Ken Armstrong (Nunatsiaq News – February 2021)

February 8, 2021

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Ken Armstrong is the President of the NWT & Nunavut Chamber of Mines.

I write in reference to the Jan. 30 Nunatsiaq News story, “Despite Baffinland’s claims, truck route still makes money, expert says,” discussing the findings of a report commissioned by Oceans North and prepared by a Berlin-based third-party consultant, OpenOil, that was submitted to the Nunavut Impact Review Board public registry.

Stepping back for a moment, the purpose of the current NIRB hearing is to facilitate informed decision-making by the board with respect to Baffinland’s Mary River phase-two proposal.

Under the Nunavut Agreement, the primary functions of the NIRB include review of environmental and socio-economic impacts of project proposals in order to make a determination about whether the project should proceed for subsequent consideration by the minister.