Junior Exploration Sector – Page 10

Alberta miner replaces Chinese investor that Ottawa barred from owning Canadian assets – by Naimul Karim (Financial Post – February 16, 2023)

February 20, 2023

Lithium Chile regrets losing ‘an incredible shareholder,’ COO says

Lithium Chile Inc., one of three Canadian miners affected by Ottawa’s snap decision to block Chinese investment in critical minerals, said the order has been satisfied, although it regrets losing an “incredible shareholder” that supplied valuable expertise.

Chengze Lithium International Ltd. had purchased a 19.4 per cent stake in Lithium Chile, making it one of the Calgary-based company’s largest shareholders. Chengze sold its shares to Gator Capital Ltd., a Toronto-based firm that focuses on investment consulting and asset management. The transaction was completed for about $34.5 million, or 91 cents per share.

Anglo American investment a ‘game changer’ for Toronto-based junior miner: CEO – by Naimul Karim (Financial Post – February 11, 2023)

February 14, 2023

https://financialpost.com/

Will bolster Canada Nickel’s plans to build a rare ‘zero-carbon’ nickel mine within two years

Canada Nickel Co. Inc. chief executive Mark Selby called Anglo American Plc’s decision to take a minority stake in his company a “game changer” that will bolster Canada Nickel’s plans to build a rare “zero-carbon” nickel mine within two years.

London-based Anglo American’s $24-million investment in Toronto-based Canada Nickel is the latest example of a major international player making a bet on Canada emerging as a node in the supply chain for electric vehicles, at least in North America and Europe, where governments are spending billions of dollars on subsidies aimed at weakening China’s hold on the market for batteries and the things needed to make them.

Anglo American makes C$24m investment in Canada Nickel – by Staff (MiningWeekly.com – February 8, 2023)

February 9, 2023

https://www.miningweekly.com/

Diversified miner Anglo American has agreed to acquire a 9.9% minority interest in Canada Nickel Company, which owns the Crawford nickel project in Ontario, Canada. The major will make a C$24-million investment in Canada Nickel at a price of C$1.95 a common share – a 10% premium to the 30-day volume weighted average price.

Anglo will provide technology expertise to the Crawford project and has the exclusive right to buy up to 10% of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the Crawford project.

Merging two Sudbury nickel projects could pave a path to production – by Ian Ross (Northern Ontario Business – January 25, 2023)

January 25, 2023

https://www.northernontariobusiness.com/

SPC Nickel cuts deal with Vale to combine nickel deposits in Sudbury basin

A Sudbury exploration outfit has taken a great leap forward toward establishing itself as the city’s next nickel miner. SPC Nickel has struck a “cooperation agreement” with mining giant Vale to consolidate ownership of two adjacent nickel and copper deposits —SPC’s undeveloped West Graham and Vale’s Crean Hill 3 — into an advanced exploration project.

The junior miner is calling the deal a “transformational growth opportunity” for a one-time private company that went public two years ago with the objective of becoming the next nickel mining player in the Sudbury camp.

Ginoogaming First Nation seeks further ban on mineral exploration – by Staff (SN News Watch – January 24, 2024)

January 25, 2023

https://www.snnewswatch.com/

THUNDER BAY — A court hearing scheduled for this Friday in Toronto will determine whether Ginoogaming First Nation is granted an interlocutory injunction to prevent mineral exploration in part of its traditional territory pending the outcome of a lawsuit against Ontario and two mining companies.

In September 2021, the First Nation received an extension of an interim injunction preventing exploration firms connected to Geraldton prospector Mike Malouf from exercising their three-year Ontario government permits to explore in an area that Ginoogaming has declared to be sacred and culturally significant.

SPC and Vale consolidate Sudbury nickel/copper deposits – by Mariaan Webb (Mining Weekly – January 24, 2023)

January 25, 2023

https://www.miningweekly.com/

Canadian junior SPC Nickel and diversified miner Vale’s Canada subsidiary have announced that they will consolidate their adjacent and contiguous West Graham and Crean Hill 3 nickel and copper deposits, in the Sudbury mining camp of Ontario.

The agreement grants SPC Nickel the right to acquire a 100% interest in the surface and mineral rights of the Crean Hill 3 property. In consideration, certain rights and royalties will be extended to Vale across the combined project.

Mineral exploration halted on 94K hectares near Long Lake #58 First Nation – by Gary Rinne (Northern Ontario Business – January 17, 2023)

January 18, 2023

https://www.northernontariobusiness.com/

The Ministry of Mines issued the order to facilitate negotiations over an Aboriginal title claim filed by the First Nation

GREENSTONE — The Ontario government has withdrawn a large tract of land near Long Lake # 58 First Nation from prospecting and mining claim registration. The order will remain in place indefinitely, subject to review.

On Dec. 15, 2022, the Ministry of Mines issued an order signed by Assistant Deputy Minister Afsana Qureshi, affecting 94,000 hectares or 940 square kilometres.

TSX slams Canada over Chinese lithium divestment order – by Harry Dempsey (Financial Times – January 2023)

January 18, 2023

https://www.ft.com/

Intervention risks risked harming free flow of capital on which mining companies rely

The Toronto Stock Exchange has called on Canada’s government to do more to replace lost capital after Ottawa ordered three Chinese companies to divest their stakes in Canadian producers of critical minerals.

Dean McPherson, head of business development for mining at TSX’s operator TMX Group Inc., said the intervention by Justin Trudeau’s government risked harming the free flow of capital on which mining companies rely to explore and develop resources.

Canadian Exploration Activity Surging – by Colin Sandell-Hay (The Assay – January 8, 2023)

January 10, 2023

Home

Canada has been a leading destination for minerals explorers for hundreds of years, dating back to the gold rushes of the mid to late 19th Century. The country remains one of the hottest places to hunt for minerals, ranging from gold to the critical minerals heavily in demand today.

The most recent Fraser Institute Annual Survey of Mining Companies has Canada placed a close second in top exploration destinations in the world, with Saskatchewan second, Quebec sixth, and Yukon ninth as the amongst the top 10 most attractive mining regions across the globe.

Global Exploration Snapshot: Eight companies to watch – by James Snell (Northern Miner – December 2, 2022)

January 5, 2023

https://www.northernminer.com/

Acme Lithium (CSE: ACME; US-OTC: ACLHF), a Vancouver-based exploration company targeting lithium deposits in the U.S. and Canada, is compiling geophysical and brine sample results, moving the company closer to expanded exploration and defined resources.

Acme has received a geophysics report outlining potential lithium-bearing clays at its Fish Lake Valley project in west-central Nevada. The company also received a letter of approval from the United States Bureau of Land Management for its upcoming phase two drill program at its Clayton Valley lithium brine project in Esmeralda Cty., NV.

The Algoma district is copper country – by Staff (Northern Ontario Business – December 30, 2022)

January 3, 2023

https://www.northernontariobusiness.com/

Junior mining companies drill near Batchawana Bay to unlock copper and gold potential

The Algoma district, north and east of Sault Ste. Marie, is an often overlooked area when it comes to mineral exploration. But that doesn’t mean its geology and potential isn’t any less prospective than other areas of Northern Ontario.

The district is checkered with mostly copper properties from past producing mines that operated from the turn of the last century straight into the 1960s and 1970s, their operators’ fortunes raising or falling with the commodity prices of the green metal. Other former mines produced small amounts of gold, silver, nickel, zinc and lead.

First Nations challenge B.C. mineral claim regime in court – by Nelson Bennett (Business In Vancouver- December 15, 2022)

December 16, 2022

https://biv.com/

Requiring notification on claims would have big impact on exploration: AME

The principal of free, prior and informed consent embedded in UNDRIP must apply to mineral claims in B.C., First Nations will argue in court – something that has the mining and exploration industry in B.C. worried.

First Nations, environmental groups and mining and exploration industry associations are in court today seeking intervenor status in a case that could have wide-ranging implications for mineral exploration in B.C., as well as the federal government’s critical minerals strategy, should the case succeed.

For generations, Grassy Narrows residents have used the land for hunting. Now, it’s in the middle of a lawsuit between Canadian mining corporations – by Morgan Bocknek (Toronto Star – December 12, 2022)

December 12, 2022

https://www.thestar.com/

Ontario has created a mess by granting mining claims on land Grassy Narrows aims to make protected Indigenous territory, First Nation’s leaders say.

Barrick Gold Corp. is embroiled in a $100-million lawsuit against two junior mining companies, as an exploration deal between the firms fell apart over a decision to pause work to respect a First Nations’ opposition to mining on what it calls territorial land.

In recent court filings, Barrick says when it first signed on to conduct exploratory drilling in a swath of land 90 kilometres north of Kenora, it was unaware of the importance of the land to Grassy Narrows First Nation. The company says it wanted to first obtain consent before proceeding with its search for gold.

Goldman Sachs Strategists Say Bear Market Will Last Through 2023 – by Farah Elbahrawy (Bloomberg News – November 21, 2022)

November 21, 2022

https://www.bnnbloomberg.ca/

(Bloomberg) — Equity investors hoping for a better year in 2023 will be disappointed, according to Goldman Sachs Group Inc. strategists, who said the bear market phase is not over yet.

“The conditions that are typically consistent with an equity trough have not yet been reached,” strategists including Peter Oppenheimer and Sharon Bell wrote in a note on Monday. They said that a peak in interest rates and lower valuations reflecting recession are necessary before any sustained stock-market recovery can happen.

Canada deals itself a blow in cutting China out of critical minerals – by David Olive (Toronto Star – November 10, 2022)

November 10, 2022

https://www.thestar.com/

Ottawa has just shown tangible resolve in declaring Canada off-limits to Chinese ownership of Canadian critical minerals. These are minerals essential to the production of electric vehicles (EVs), cellphones, laptop computers, and power from alternative energy technologies.

It’s by no means certain that this recent prohibition is in Canada’s interests. More on that later. Last week, Ottawa ordered Chinese companies to divest their ownership in three junior mining firms based in Canada. The firms plan to develop lithium deposits in Canada, Argentina and Chile.