Canadian Regional Media and Web Publications – Page 168

Too much nickel being produced, analysts warn – by Staff (Sudbury Star/Reuters – December 15, 2015)

December 15, 2015

http://www.thesudburystar.com/

As much as 70 per cent of global nickel output is unprofitable, the chief executive officer Glencore says, amid calls to slash production.

Ivan Glasenberg said that in 2013, the biggest nickel producers “really screwed up” by expanding too fast. The Baar, Switzerland-based company has already cut output in copper, zinc and coal.

In Sudbury, Glencore operates the Nickel Rim and Fraser mines, a mill and a smelter and employs about 1,200 people.

“People are bleeding cash, and when I say bleeding, it’s big cash,” Bloomberg News reported Glasenberg as saying, adding that as much as 70 per cent of global nickel output is unprofitable.

De Beers does the unthinkable – by Gary Vivian (Northern News Service – December 14, 2015)

December 14, 2015

http://www.miningnorth.com/

Guest Editorial by Gary Vivian, President, NWT & Nunavut Chamber of Mines.

De Beers deserves a huge thank you from Northerners for doing what many might believe is the unthinkable. Let me be the first to say it: “Thank you De Beers for Snap Lake”. Lest readers think that I mean closing their mine, I do not. What is quite unthinkable is this.

De Beers came to the NWT in 2005 and brought with them $975 million of their own money to build a diamond mine.

They spent that, and went on to spend over $2.3 billion to construct and operate the mine. Through their supportive northern business policy, they spent over $1.5 billion with northern businesses and joint ventures.

Updated mineral strategy to provide more certainty, say mining reps – by Jonathan Migneault (Sudbury Northern Life – December 13, 2015)

December 14, 2015

http://www.northernlife.ca/

Mining industry representatives said they are hopeful Ontario’s updated Mineral Development Strategy, which was released Dec. 11 in Sudbury, will provide more certainty for the sector.

“Certainty is important,” said Garry Clark, executive director of the Ontario Prospectors Association. “If you have a good framework within the mineral development strategy that framework actually gives you the certainty to move forward.”

In a related announcement Friday, Clark and his association benefited from a $5 million investment from the Northern Ontario Heritage Fund Corporation to create a Junior Exploration Assistance Program, that would provide support for mineral exploration projects.

New mining strategy unveiled in Sudbury – by Carol Mulligan (Sudbury Star – December 12, 2015)

December 14, 2015

http://www.thesudburystar.com/

Ontario’s renewed mineral development strategy sends a message to Canada and around the globe that Ontario is open to the world when it comes to mining, and that it wants to be the global leader in sustainable mineral development.

Northern Development and Mines Minister Michael Gravelle presented the strategy, which updates the original one released in 2006, to about 75 people crammed into the lobby of Dynamic Earth on Friday morning.

The mining sector is “absolutely vital” to Ontario’s prosperity and “who we are as northerners,” said the Thunder Bay-Superior North MPP.

Could China be the answer to Ring of Fire infrastructure woes? – by Jax Jacobsen (SNL.com – December 9, 2015)

December 10, 2015

https://www.snl.com/

China is making a grab for chromite in Ontario’s Ring of Fire, with a state-owned enterprise preparing to launch a feasibility study on a railway that would link the remote region with other transport infrastructure and enable the export of resources.

Beijing has been aggressive in securing access to resources worldwide, pursuing deals of this sort from developing nations such as the Democratic Republic of Congo and Peru to construct railways, roads and ports in return for access to minerals the country needs to fuel its continuing growth.

Latin American exports to China increased from US$11 billion in 2003 to nearly US$106 billion in 2013, the bulk of those exports being minerals. In turn, China lent Latin American countries approximately US$98 billion in loans from 2005 to 2018, according to research from BBVA, a multinational Spanish banking conglomerate.

When will the province take Ring of Fire seriously? – by Editorial (Sudbury Star – December 9, 2015)

December 9, 2015

http://www.thesudburystar.com/

Imagine, ifyou will, that it’s 1888, five years after Tom Flanigan discovered nickel ore during the blasting and excavation needed to build the Canadian Pacific Railway through what is now Sudbury.

The McGuinty-Wynne Liberals are in charge, with Michael Gravelle serving as the minister of Northern Development and Mines.

The premier and almost everyone else agrees the find is exceptional, once in a generation. Sudbury could create tens of thousands of new jobs, and billions in profits and taxes.

Mines minister “grateful” for auditor general’s criticism – by Ian Ross (Northern Ontario Business – December 7, 2015)

December 7, 2015

http://www.northernontariobusiness.com/

A harsh critique of the effectiveness of Ontario’s mines and mineral program by provincial auditor general Bonnie Lysyk was greeted with enthusiasm by the minister of Northern Development and Mines.

“I’m not exaggerating when I say I’m grateful for her recommendations,” said Michael Gravelle.

Gravelle expressed surprise that Lysyk’s annual report could be viewed as a scathing review of his ministry that appears to have shortfalls in encouraging mining investment, has disengaged in First Nation-industry consultation, shown no evidence of advancing the Ring of Fire, and lacks the resources and technical expertise to oversee mine closure plans and inspect abandoned mines.

Mining report in perspective – Editorial (Thunder Bay Chronicle-Journal – December 7, 2015)

December 7, 2015

http://www.chroniclejournal.com/

Michael Gravelle took another pummelling last week over the state of the province’s slumping mining sector, but he was right to point out that metal prices are in a deep trough, even if that explanation is beginning to sound a little lame.

Among other things, the veteran Northern Development and Mines minister was taken to task by Auditor-General Bonnie Lysyk for not doing enough to buck-up investment in this province’s mining industry.

Ontario’s chamber of commerce has been hammering on this point, too, although the ministry partially responded just before Lysyk’s report came out by pledging to make it easier for prospectors and junior companies to register claims.

Sombre, reflective tone at SAMSSA’s AGM – by Ella Myers (Northern Ontario Business – Decemeber 4, 2015)

September 5, 2018December 4, 2015

http://www.northernontariobusiness.com/

The Sudbury Area Mining Supply and Services Association (SAMSSA) welcomed a new president, two new board members and inducted two local businessmen into their respected Hall of Fame at their December 4 annual general meeting.

A crowd representing 110 of the organization’s 125 members stood in silence for the commencement of the meeting, out of respect for one of the Hall of Fame recipients, Andre Ruest of B&D Manufacturing, who passed away Nov.19.

“He was a great guy for me, always open to suggestions, I will sadly miss him, and we will honour his life and celebrate him at the end of the presentation today,” said executive director Dick DeStefano.

Nickel to rebound, Sudbury chamber told – by Carol Mulligan (Sudbury Star – December 4, 2015)

December 4, 2015

http://www.thesudburystar.com/

An economist who interprets economic trends and their impact on business delivered good news to about 130 members of the Greater Sudbury Chamber of Commerce this week.

The price of nickel, which is at its lowest in a decade after falling 31 per cent this year to less than $4 a pound, is expected to rebound to a balanced market price by the end of 2016 as lower production worldwide brings the supply closer to the demand.

The price of copper, down 14 per cent in 12 months, is also expected to recover, although not so quickly. Pierre Cleroux said he expects to see a balanced copper market by the end of 2017.

[Ontario] Gov’t fumbling on mines: report – by Carl Clutchey (Thunder Bay Chronicle-Journal – December 4, 2015)

December 4, 2015

http://www.chroniclejournal.com/news/

Ontario has been doing a poor job of laying the groundwork for new mining projects and keeping track of abandoned ones that pose a safety hazard, says the auditor general.

Bonnie Lysyk included the mining sector in an overall scathing report this week on how the provincial government has been managing various departments.

“Although Ontario is the largest mineral producer in Canada, accounting for one-quarter of total Canadian mineral production, a survey of mining and exploration companies ranked Ontario ninth among Canadian provinces and territories in investment attractiveness in mineral exploration,” Lysyk said after her report was tabled.

Province dinged on the ‘Ring of Fire’ – by Carol Mulligan (Sudbury Star – December 3, 2015)

December 3, 2015

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Ontario auditor-general Bonnie Lysyk’s value-for-money annual report, as it pertains to the Ministry of Northern Development and Mines, outlines a pattern of inaction by the Liberal government to do anything to develop the Ring of Fire.

The province has shirked its responsibility to consult with first nations near the Ring of Fire, leaving that up to private companies, says Lysyk in the report.

It created a Ring of Fire secretariat in 2010 that has 19 employees and has spent $13.2 million in the last five years while missing deadlines established by the ministry and lacking performance measures to assess its effectiveness.

Not a penny of the $1 billion promised by the province to develop Ring of Fire infrastructure has been spent, said the auditor-general.

Auditor general slams province on Ring of Fire mining – or lack of it – Ian Ross (Northern Ontario Business – December 2, 2015)

December 2, 2015

http://www.northernontariobusiness.com/

Ontario’s Ministry of Northern Development and Mines has come under harsh, across-the-board, criticism by the provincial auditor general for its ineffectiveness and inaction in making any progress in the Ring of Fire and in promoting Ontario’s mineral resources.

The auditor general’s annual review of the government’s mines and minerals program found a ministry that has fallen short in encouraging mineral development, ensuring regulatory compliance, and supporting sustainable and responsible exploration.

Ontario’s mining industry comprises almost a quarter of Canada’s total mineral production, worth almost $11 billion in 2014.

Lack of Ring of Fire progress comes under fire from Ontario Auditor General – by Jamie Smith (tbnewswatch.com – December 2, 2015)

December 2, 2015

http://www.tbnewswatch.com/

The Ministry of Northern Development and Mines has been ineffective in getting the Ring of Fire developed and shows no plans to do so the province’s Auditor General says.

In her annual report, presented Wednesday, Bonnie Lysyk said the province lacks timelines or plans for the estimated $60 billion development, the Ring of Fire secretariat has missed deadlines and had no performance measures in place.

The secretariat has 19 full-time staff and has incurred $13.2 million in operating costs so far since it opened in 2010. It’s spent another $15.8 million for capacity building for First Nations.

[Ontario] MNDM Minister welcomes mining report – by Carol Mulligan (Sudbury Star – December 2, 2015)

December 2, 2015

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Ontario’s minister of Northern Development and Mines and the Ontario Chamber of Commerce don’t agree on every point, but both share a commitment to seeing the mining sector build and grow.

To that end, Michael Gravelle appreciates the chamber report, “Digging Deeper,” which offers recommendations for strengthening Ontario’s mining advantage.

The first of nine recommendations in the report released Tuesday includes broadening the focus of the Ring of Fire Infrastructure Development Corporation, an opinion Gravelle doesn’t share.

The Mines minister believes it’s important for the development corporation to remain focused on the Ring of Fire, bringing partners together to determine how best to build transportation systems and infrastructure in the area.