Archive | Newfoundland and Labrador Mining

New Voisey’s Bay royalty calculation agreed on – by Marleny Arnoldi (MiningWeekly.com – September 17, 2018)

http://www.miningweekly.com/

TSX-listed Altius Minerals and Nasdaq-listed Royal Gold have entered into an agreement with Vale Canada to settle litigation related to the calculation of the royalty in respect of all concentrates produced from the Voisey’s Bay mine, in Newfoundland and Labrador.

The Voisey’s Bay 3% net smelter return royalty is directly owned by the Labrador Nickel Royalty partnership, of which Altius is a 10% owner and a subsidiary of Royal Gold is a 90% owner.

The parties agreed to a new method for calculating the royalty regarding concentrates processed at Vale’s Long Harbour processing plant, which will be effective for all Voisey’s Bay mine production after April 1 this year. Continue Reading →

Company ships gypsum from Flat Bay mine for first time in 28 years – by Lindsay Bird (CBC News Newfoundland and Labrador – September 12, 2018)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Red Moon Resources hopes to expand mining operations over next 2-3 years

A mine that closed decades ago on the province’s west coast has restarted operations, as a new company has taken over the Flat Bay mine and shipped its first load of gypsum out to market since 1990.

Red Moon Resources sent the load of ore, destined for the cement industry, to Ontario via the deep water port in St. George’s at the end of August. “We’re just getting up and running,” said Patrick Laracy, the CEO of St. John’s-based Red Moon Resources, a company that completed the permitting process to begin mining operations in July.

Gypsum is used mainly in two industries: cement and wallboard, with the latter sometimes better known by the brand name Gyprock. The Flat Bay mine, just south of St. George’s, began producing gypsum in 1952, but was closed in 1990. Continue Reading →

Sokoman Iron sparks gold fever in Newfoundland – by Colin Desmond (Northern Miner – August 15, 2018)

http://www.northernminer.com/

VANCOUVER — Sokoman Iron (TSXV: SIC; US-OTC: GDNDF) has struck gold with the first hole in drilling at its Moosehead gold project in central Newfoundland, 20 km west of the town of Grand Falls-Windsor.

On July 30, Sokoman reported hole 18-1 cut 45 grams gold per tonne over 11.9 metres from 109 metres downhole. Significant assay results were also found up and downhole of the quartz vein. That vein lies between the previously drilled Western and Eastern trends at Sokoman’s Moosehead gold project, possibly indicating a new trend.

Sokoman drilled hole 18-1 to test the up-dip potential of a historical intercept in 2003 by Moosehead’s previous owner, Altius Resources. (The highlighted results occurred 80 metres up-hole from that intended target). Continue Reading →

Search Minerals aims for larger rare earth elements mine in Labrador (CBC News Newfoundland and Labrador – August 19, 2018)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Company wants to mine elements for permanent magnets, electric cars

The company behind a proposed mining project in southeast Labrador hopes its project is much larger than originally thought with the capacity for more production for a growing industry.

Search Minerals has been working in Labrador since 2010 and wants to mine for rare earth minerals near the community of St. Lewis in two deposits the company calls Foxtrot and Deep Fox.

The company’s president and CEO Greg Andrews says they have already found more than a decade of mine life in the Foxtrot deposit, but the second deposit could more than double that time. Continue Reading →

Cobalt27’s Anthony Milewski discusses Vale transaction, cobalt outlook – by Trish Saywell (Northern Miner – July 3, 2018)

http://www.northernminer.com/

Cobalt27 Capital (TSXV: KBLT) recently acquired a US$300-million cobalt stream on Vale’s (NYSE: VALE) Voisey’s Bay nickel-copper-cobalt mine, beginning in 2021. It also has a stream on the Ramu nickel-cobalt mine in Papua New Guinea owned by the Metallurgical Corp. of China, and a net smelter return royalty (NSR) on the construction-ready Dumont nickel-cobalt project owned by RNC Minerals (TSX: RNX) in Quebec.

In total the company has 12 streams and royalties, as well as physical cobalt. In the last five months alone the company has increased its physical stock of cobalt by 800 tonnes to 3,000 tonnes. The Northern Miner recently spoke with Cobalt27’s chairman and CEO, Anthony Milewski, about the company’s investments and his outlook for nickel and cobalt in the emerging electric vehicle (EV) revolution.

The Northern Miner: You have just completed a $300-million equity raise to pay for the cobalt stream in your portfolio from Voisey’s Bay mine in Labrador. Continue Reading →

$23M program aims to create skills, on-the-job training for Indigenous peoples (CBC News Newfoundland-Labrador – June 26, 2018)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Voisey’s Bay mine expansion creates hundreds of new job opportunities

Newfoundland and Labrador is teaming up with the federal government on a new $23.6 million-program designed to get more Indigenous people working at the Vale mine in Voisey’s Bay.

On Tuesday, officials from the Nunatsiavut government, Innu Nation, NunatuKavut, Vale, and the federal and provincial governments came together with the College of the North Atlantic (CNA) in Happy Valley-Goose Bay to announce the project.

It’s being led by the Labrador Aboriginal Training Partnership (LATP), and will help train workers for the mine, by giving them hands-on training experiences and skills development. Continue Reading →

Mineral deposits at Voisey’s Bay ‘exquisite,’ says geology professor – by Terry Roberts (CBC News Newfoundland and Labrador -June 19, 2018)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Experts call Labrador operation ‘perfect battery metals mine’

Questions about the fate of mining operations at Voisey’s Bay over the past year have been replaced by unbridled hope and enthusiasm.

A green light for a multibillion-dollar underground expansion, a lifespan extended by many years, a workforce that will nearly double, and an operation poised to capitalize on what many expect will be an explosion in the demand for electric vehicles in the coming years.

You only need to pick up a metallurgical core sample from Voisey’s Bay to understand what all the hype is about, and you don’t need to be a geologist to know you’re holding something unique. Continue Reading →

Wheaton Precious Metals CEO says company ‘taking a gamble and investing in cobalt’ – by Gabriel Friedman (Financial Post – June 13, 2018)

http://business.financialpost.com/

A deal with Vale over cobalt marks the first time that Wheaton Precious Metals has moved outside the gold and silver space

Cobalt has given the Voisey’s Bay mine — one of the world’s largest nickel deposits — in Newfoundland and Labrador a new lease on life this week in yet another sign of the growing influence that the electric vehicle industry already exerts on global supply chains.

Brazilian giant Vale SA on Monday announced it will sell most of the mine’s future cobalt production for US$690 million to finance a long-delayed $1.7-billion expansion, which will add an underground component to the mine and extend its life by 15 years.

Cobalt, long considered an industrial metal used as an alloy in jet engines and natural gas turbines, is increasingly in demand for use in lithium-ion batteries. Forecasts that the electric vehicle industry is set for major growth over the next decade have increased cobalt prices by more than fourfold during the past two years to US$80,000 per ton. Continue Reading →

‘Momentous’: Vale gives green light to Voisey’s Bay mine expansion – by Holly McKenzie-Sutter (Globe and Mail – June 12, 2018)

https://www.theglobeandmail.com/

“More than half of the work force in the remote area accessible
by plane is Inuit or Innu, while more than 80 per cent of
contracts are with Indigenous-owned and operated businesses.”

Brazilian mining company Vale says it will proceed with construction of an underground mine at Voisey’s Bay, N.L., extending operations by at least 15 years and creating 1,700 jobs. Construction is to begin this summer and take about five years.

“A great day for Newfoundland and Labrador and a great day for Vale,” Newfoundland and Labrador Premier Dwight Ball said in St. John’s, N.L. Also on hand for what Ball declared a “momentous” announcement was Vale executive Eduardo Bartolomeo, Natural Resources Minister Siobhan Coady and former premiers Clyde Wells, Brian Tobin and Roger Grimes.

Once operational, Ball estimates the underground mine will create an additional 1,700 jobs in the mine and at the Long Harbour, N.L., processing plant. Continue Reading →

NEWS RELEASE: Premier Ball Announces that the Voisey’s Bay Underground Mine Will Proceed with Construction this Summer (Executive Council Natural Resources – June 11, 2018)

Today at an event in St. John’s, the Honourable Dwight Ball, Premier of Newfoundland and Labrador, announced that the construction of the Voisey’s Bay underground mine will proceed this summer. Premier Ball was joined at the announcement by the Honourable Siobhan Coady, Minister of Natural Resources, and Eduardo Bartolomeo, Executive Director Base Metals, Vale.

The underground mine will extend the operating life of Voisey’s Bay by at least 15 years and will result in:

  • Close to $2 billion in capital investment by Vale;
  • 16,000 person years of employment during the five-year construction period, peaking at 4,800 in 2020;
  • Once operational, 1,700 in jobs at the underground mine and Long Harbour processing plant;
  • 2,135 person years in indirect and induced employment annually;
  • $370 million per year in labour income; and
  • $1 billion in economic activity annually that will result in $69 million per year in provincial tax revenue.

Continue Reading →

Construction to start this summer on Voisey’s Bay underground mine (St. John’s Telegram – June 11, 2018)

http://www.thetelegram.com/

Construction of the Voisey’s Bay underground mine will proceed this summer, Premier Dwight Ball announced today (Monday) in St. John’s. Eduardo Bartolomeo, executive director of Base Metals, Vale, called the underground mine the natural evolution of the project.

First ore production from the underground mine is expected no later than April 2021 and will allow the continued operation of the Long Harbour processing plant.

According to government, the underground mine will extend the operating life of Voisey’s Bay by at least 15 years and will result in close to $2 billion in capital investment by Vale. It is expected to provide 16,000 person years of employment during the five-year construction period — peaking at 4,800 in 2020. Continue Reading →

Vale Reaches $700 Million Deal to Sell Cobalt Output – by Jack Farchy and R.T. Watson (Bloomberg News – June 8, 2018)

https://www.bloomberg.com/

Vale SA reached an agreement to sell future production of cobalt as battery makers look to shore up supply of the metal amid a nascent electric-vehicle boom, people with knowledge of the matter said.

The deal is for about $700 million of cobalt produced at the Voisey’s Bay complex in Canada that predominately churns out nickel, the people said, asking not to be identified because talks are private. Vale’s Rio de Janeiro-based press department declined to comment.

The Brazilian miner has been looking for financing to extend the life of the mine by transiting to underground from open-pit operations and has said publicly that a so-called streaming arrangement was among options. Continue Reading →

A Voisey’s Bay breakthrough? Significant mining announcement coming Monday – by Terry Roberts (CBC News Newfoundland-Labrador – June 8, 2018)

http://www.cbc.ca/news/canada/newfoundland-labrador/

Government, Vale confirms plans for a media event

Nickel prices have soared in recent months, and it now appears that rebound will mean big news for Labrador’s mining sector. Government and company officials have confirmed that a “significant” mining announcement will take place in St. John’s Monday, regarding the long-delayed underground mine at Voisey’s Bay.

“Indeed, the government is making a significant mining announcement on Monday and we look forward to joining them,” a spokesperson for Vale wrote in an email to CBC News Friday morning.

The government confirmed Friday afternoon that Premier Dwight Ball will join leaders from the Brazilian mining giant at 10 a.m. Monday at the Sheraton Hotel. No one will confirm details, but sources say Vale plans to announce that plans to establish an underground mine at Voisey’s Bay are back on track. Continue Reading →

Former geologist rocked by current version of Rambler’s mine – by Cory Hurley (NFLD Western Star – June 5, 2018)

https://www.thewesternstar.com/

BAIE VERTE, N.L. — Some might say sequels are never as good as the originals, but Tom Al says it is obvious that’s not the case with Rambler Metals and Mining. The former geological technician and mine geologist with Rambler in 1981 worked underground in the mine prior to its closure in 1982.

Al, the keynote speaker for the Friday, June 1 formal dinner at the Baie Verte and Area Chamber of Commerce’s 31st annual Mining Conference, took guests for “a trip down memory lane.” The Ming copper and gold mine is back in production, and reportedly has a 20-year mine life with 312 million pounds of copper and 57,000 ounces of gold.

He took a tour of the Rambler operation at the Ming mine Thursday, May 31, and was amazed at the new equipment and technology as well as the newfound emphasis on safety. Continue Reading →

[Al Chislett] Money didn’t change Voisey’s Bay discoverer, son says (CBC Newfoundland and Labrador – April 16, 2018)

http://www.cbc.ca/news/canada/newfoundland-labrador/

Brad Chislett says his dad was passionate about province, continued to enjoy the outdoors

As the Newfoundland legislature paid homage Monday to a mining pioneer who died last week of cancer, the man who called Al Chislett dad said he will miss the adventures and the conversation.

“My father was my best friend. I grew up idolizing him as a child because he was such a self-reliant man,” Brad Chislett told CBC Television’s Here & Now.

“As an adult we got to know each other very personally, working together as business partners, going on a lot adventures together, exploring Labrador, Newfoundland and travelling across the world. I’m just going to miss his company.” Continue Reading →