Archive | Canadian Regional Media and Web Publications

Nevada: Where the World Goes for Gold (Investing News Network – August 16th, 2018)

Investing News Network

This Investing News Network article is sponsored by Fremont Gold (TSXV:FRE).

Nevada may be one of the most geologically diverse mining jurisdictions in the world. Nearly every type of rock known to geologists can be found in the state’s desert landscape.

Nevada has been an important source of many of the world’s most critical base metals including copper, zinc and molybdenum. Today, Nevada leads the country in the production of lithium and, not surprisingly, the Silver State contains a wealth of precious metals, ranking as one of the top 5 global gold producers.

Nevada owes its unique geology and prolific gold production to the complex tectonic history of the northern Great Basin which gave rise to the widespread landscape of fault-dominated mountain ranges and valleys. Continue Reading →

Bittersweet milestone for Ontario diamond mine – by Len Gillis (Timmins Daily Press – August 17, 2018)

https://www.timminspress.com/

With more than 10 years in operation as Ontario’s first and only diamond mine, the chief executive at De Beers Canada said the company is now preparing for the closure of the Victor Mine located in the James Bay Lowlands next winter.

With more than 10 years in operation as Ontario’s first and only diamond mine, the chief executive at De Beers Canada said the company is now preparing for the closure of the Victor Mine located in the James Bay Lowlands next winter.

Kim Truter, who is also company president, said this week the Victor Mine was very well-run, but admitted there might be better ways in the future to run a mining project and keep the First Nations communities more satisfied. He said the time might be right to consider other forms of financial partnerships.

Truter made the comments to The Daily Press Wednesday as the company celebrated the 10th anniversary of the official opening which took place 10 years ago this summer. Continue Reading →

With Silver Tanking, How Badly Will Miners Hurt? – by Allen Sykora (Kitco.com – August 16, 2018)

http://www.kitco.com/

(Kitco News) – Some primary silver producers are no doubt feeling pain these days after the sell-off in silver prices so far this year, but don’t look for major supply cutbacks any time soon, analysts said.

That’s because it costs so much to shut down and restart mines that companies will put up with a loss on operations for an extended time before doing anything as drastic as mine closures, they explained. Further, companies have become leaner in recent years, thus some of the major producers – such as Pan American Silver Corp. (NASDAQ, TSX: PAAS) — likely are still profitable at current prices, they added.

“I don’t think this move lower here will have an effect on mining supply,” said Ryan McKay, commodity strategist at TD Securities. Comex September silver fell as far as $14.315 an ounce on Thursday, the lowest level since early 2016. At this juncture, prices are down 19% from the early-2018 high. Continue Reading →

[Harte Gold] First Nation, mining company tout business partnership – by Staff (Northern Ontario Business – August 15, 2018)

https://www.northernontariobusiness.com/

White River mine development putting Pic Mobert members to work

Pic Mobert First Nation said it’s starting to reap the rewards of its partnership with Harte Gold, a fledgling gold producer near White River.

An impact-benefit agreement signed earlier this year with the company has “yielded numerous and substantial contracts” related to the underground gold mine development, said a news release from White Lake Limited Partnership, the business development arm of the northwestern Ontario First Nation community.

Pic Mobert Chief Johanna Desmoulin was at the mine site, 25 kilometres north of White River, on Aug.14, to announce “several positive developments” in the working relationship they’ve been cultivating with the company since 2009.  Continue Reading →

Mining in the UK and Ireland is well and truly alive – by Joshua Warner (IG Group Limited – August 15, 2018)

https://www.ig.com/

Joshua Warner is a London, U.K. Market Analyst.

The mining industry in the UK and Ireland may be past its prime, but there are still a number of new and revitalised mines being developed, both big and small. The coal pits may have closed and the industry we once knew may have gone, but mining remains well and truly alive.

‘If you can’t grow it, it has to be mined,’ – an old mining truism.

The UK and Ireland have a rich history of mining. The industrial revolution was fuelled by vast deposits of coal and iron and when underground mining was at its peak between the middle of the 19th century until the early part of the 20th century the UK was not only self-sufficient in many minerals and metals but also a world-leading producer of several crucial materials.

Over 35 different commodities have been extracted from the UK, with the mining industry resonating with several regions, including but not limited to, tin and copper in Cornwall and West Devon, ochre and iron ore in the Forest of Dean, and limestone in Staffordshire. Continue Reading →

Gold Billionaire Ross Beaty’s Unfinished Business – by Goldfinger (CEO.ca – August 14, 2018)

https://ceo.ca/

Intelligent. Impatient. Addicted to the game of creating wealth for others. Billionaire mining entrepreneur Ross Beaty has built one successful resource company after another. The Vancouver geologist formed Lumina Copper in the early 2000s to acquire and develop copper projects. Early investors there were rewarded with staggering returns of over 8000% (Full story).

Beaty created Pan American Silver, one of the world’s largest silver producers. He’s backed countless other successful mining startups including Ventana Gold and Augusta Resource Corp. in a big way. In 2009, Beaty turned his sights to renewable energy, and built Alterra Power into a successful producer that was acquired for $1.1 billion last year.

He’s been honored with the Order of Canada (2017), the Canadian Mining Hall of Fame (2018), the B.C. Business Laureates Hall of Fame (2017), and countless others for his entrepreneurship and philanthropy.

We recently caught up with Mr. Beaty to learn about his new gold business and hear his thoughts on the mining cycle. Continue Reading →

Cobalt mining conference taking shape – by Ian Ross (Northern Ontario Business – August 10, 2018)

https://www.northernontariobusiness.com/

Land rehabilitation, mining legacy and cobalt exploration are featured topics at September event

There’s definitely a dual meaning that applies to the inaugural Green Mining Conference being held in the Town of Cobalt this September.

For decades, the northeastern Ontario community of 1,100 endured the environmental legacy issues left behind by the town’s famed Silver Rush at the turn of the last century; something Agnico Eagle Mines has spent considerable time and money on to clean up old mine workings.

At the same time, Cobalt is back on the world stage as an exploration hotspot for its namesake metal that’s powering the expanding electric vehicle battery market. Continue Reading →

Fraser River rush revisited: A new book reveals how gold fever brought American warfare north of the border – by Greg Klein (Resource Clips – August 3, 2018)

http://resourceclips.com/

Is this the price of gold—the murder of defenceless people followed by retaliatory beheadings as a private American army threatens genocidal war in the future Canada? There’s more to British Columbia’s first great gold rush than has been acknowledged and, 160 years after the fact, a newly published book casts harsh light on the Fraser River mania and its accompanying Fraser River War.

That the war even happened will take many people by surprise. Downplayed or ignored in Canadian research, its significance gets special emphasis in Claiming the Land: British Columbia and the Making of a New El Dorado.

The war constitutes one of a number of surprises in what author Daniel Marshall, a University of Victoria professor and descendant of 1858 arrivals from Cornwall, calls a “substantial revisionist history.” Continue Reading →

Ontario Mine developer waiting on provincial permits: Harte Gold close to starting White River gold production – by Staff (Northern Ontario Business – August 8, 2018)

https://www.northernontariobusiness.com/

The head of a White River-area gold mine isn’t pleased that the inaugural start of production is being delayed until year’s end while the company waits on the province for the last of its operating permits.

Back in May, Harte Gold was targeting July as the beginning of production at its Sugar Zone underground gold mine, 25 kilometres north of White River. The start date is now being pushed to the fourth quarter of this year.

In a progress report, Harte said on Aug. 8 that four permits remain outstanding before operations can begin. The company expects to receive them all by September. No issues are expected to be raised by the various provincial ministries they were working with, the company said. Continue Reading →

Ontario is a tough place to do mineral exploration – by Ian Ross (Northern Ontario Business – August 8, 2018)

https://www.northernontariobusiness.com/

Prospectors’ group wants revisions in provincial plans, permitting process to attract investment, improve Indigenous relations

An onerous permitting process, Indigenous relations and project financing continue to be a hindrance to Ontario’s exploration and prospecting community. Growing wait times for exploration permitting in Ontario and other provinces were the subject of a Fraser Institute report released in July.

The survey of mining executives, conducted in 2017, indicated industry and investors were losing confidence in the province’s exploration permitting regime with applications taking longer to be processed and approved.

The polling was done before the province officially made the switch from traditional claim staking to digital map staking earlier this year. Continue Reading →

Sudbury sculptor working on mining project – by Joe O’Grady (Sudbury Star – August 5, 2018)

https://www.thesudburystar.com/

KIRKLAND LAKE – A $92,000 sculpture immortalizing Kirkland Lake’s mining heritage will be erected at the historic Toburn Mine site.

The Toburn Operating Authority, a not-for-profit organization in charge of the Toburn, has learned it will receive a $46,000 grant from the Department of Canadian Heritage to help fund the legacy project celebrating the Town of Kirkland Lake’s Centennial in 2019.

A Legacy committee led by Toburn vice chair Michael Sutton has been working closely with the Kirkland Lake 100th Anniversary Committee, with plans to erect a life-sized bronze sculpture of an early 20th century prospector with his faithful working dog by his side. Continue Reading →

How Low Can Gold Go? Investors Keeping Eye On $1,200 – by Neils Christensen (Kitco News – August 03, 2018)

http://www.kitco.com/

(Kitco News) -Although negative sentiment in the gold market is at historic highs, some analysts suggest that prices could continue to push lower and possibly below $1,200 an ounce in the near term as the market lacks a catalyst to reverse the current trend.

While gold is off its recent one-year low, the market is still preparing to end its fourth straight week in negative territory. Gold has closed lower seven out of the last eight weeks. December gold futures last traded at $1,224.40 an ounce, down 0.67% for the week.

“The rate at which gold is falling is slowing but the market is still in a classic downtrend,” said David Madden, market analyst at CMC Markets.But it’s not all doom and gloom for the precious metals market. Silver has nearly stopped its seven-week downtrend as prices prepare to end the week with slight positive gains. September silver futures last traded at $15.49 an ounce, relatively unchanged on the week. Continue Reading →

Ontario North could become host to nuclear waste – by Ben Cohen (Sudbury Star – August 3, 2018)

https://www.thesudburystar.com/

Hornepayne, a community of 980 people about 680 kilometres northwest of Sudbury, is one of the five finalists to see who becomes home to a nuclear waste facility.

In 2011, the town entered a bid to become a repository for 5.2 million log-sized bundles of used nuclear fuel. They were joined by 21 other Canadian communities that have since been whittled down due to internal protest or geological unsuitability.

The Nuclear Waste Management Organization (NWMO) of Canada’s plan is to take this used fuel, known as “high-level nuclear waste,” contain it in steel baskets stuffed into copper tubes and encased in clay, and place that in a Deep Geological Repository (DGR), a 500-metre deep hole reinforced with a series of barriers. This is where it will stay for the 400,000 years it remains radioactive. Continue Reading →

[McEwen Mining] Black Fox Mine purchase was the right thing investors are told – by Len Gillis (Timmins Daily Press – August 2, 2018)

http://www.timminspress.com/

McEwen Mining Inc. (TSX:MUX) investors were told Wednesday that the recently acquired Black Fox mining property (formerly Primero Mining Corp.) near Matheson, is on its way to becoming a sustainable cash-generating operation for the company.

The company also revealed that Chris Stewart is the new President and COO for McEwan. It was just a year ago this week that McEwen revealed it was setting out to purchase the gold mine near Matheson, with all its adjoining properties, for $35 million US. The deal went through last fall.

A statement from Andrew Elinesky, the company’s chief financial officer, as he provided an overview of finances and operations during the one-hour teleconference, indicated that McEwen is more than happy with the purchase. Continue Reading →

Northwest Ontario leaders campaign to save Thunder Bay Generating Station from closure – by Ian Ross (Northern Ontario Business – July 31, 2018)

https://www.northernontariobusiness.com/

New mining projects, delays to East-West Tie construction prompt questions to Ford government about regional power plan

With a half-dozen new mines expected to go into production over the next two years, a delegation from northwestern Ontario wants face time with Energy Minister Greg Rickford to make its case to keep the Thunder Bay Generating Station operational.

The recent discovery of corrosion on a boiler at the power plant and the prospect of a $5 million repair bill, six months of downtime, at a point when the facility’s fuel contract with the province expires in 2020, Ontario’s Independent Electricity System Operator (IESO) decided to jettison the plant.

“We still think the Thunder Bay Generating Station will be needed in the not-too-distant future,” said Iain Angus, a Thunder Bay city councillor and co-chair of Common Voice Northwest’s Energy Task Force, a regional advocacy group. Continue Reading →