PDAC – Page 3 – Republic of Mining

Murder at Royal York Hotel mining convention [PDAC – March 9, 1987] shocked Timmins 25 years ago – by Len Gillis (Timmins Times – March 8, 2012)

March 14, 2012

www.timminstimes.com lgillis@timminstimes.com

What happened that two close friends became deadly enemies?

“You bastard,” the dying man shouted.

Those were the last words that Timmins “Timmy” Bissonnette was ever to hear from his lifelong friend Guy Maurice Lamarche just moments after Bissonnette shot Lamarche with a .38 calibre pistol.

It was 25 years ago this week that the people of Timmins and the Canadian mining exploration community were stunned when the news of the shooting flashed out from The Royal York Hotel in downtown Toronto where the annual Prospectors and Developers Convention was underway.

It was the tragic end of a friendship that had begun years earlier when two Timmins boys became close friends, drinking buddies and lifelong pals.

It was the supper hour on Monday March 9th, 1987. It was the first full day of the convention. Lamarche was standing near the top of the up-escalator leading to the main exhibit hall at the Royal York. Lamarche was well known to the mining crowd and was smiling and greeting many friends and associates.

World’s mining powers converge in Toronto – by Prithi Yelaja (CBC News – March 7, 2012)

March 10, 2012

http://www.cbc.ca/news/

Convention generates $72M for Toronto’s economy

It’s billed as the premier mining conference in the world, attracting both those who enthusiastically want to expand mineral exploration and excavation, as well as those who want to stop it.

From its humble beginnings at the King Edward Hotel in 1932 when rough-and-ready prospectors would come in fresh from the field, laying their mineral finds on the table to seek deals with Bay Street investors, the Prospectors and Developers Association of Canada’s annual convention has evolved into a glitzy four-day affair at the Metro Toronto Convention Centre.

The conference, which ends Wednesday, draws 30,000 investors, analysts, mining executives, geologists, prospectors and government officials from 120 countries. African and South American countries were represented in full force at the convention.

Instead of mineral samples — though some conference delegates still bring those — these days, glossy brochures and high-tech presentations are used to seal deals, not to mention the wooing of potential investors with free-flowing beer and fancy cocktail parties after hours.

At global mining conference, [PDAC] Joe Oliver is a rock star – by By Carl Meyer (Embassy Magazine – March 7, 2012)

March 8, 2012

This column was first published by Embassy, Canada’s foreign policy newsweekly. http://embassymag.ca/

Human rights advocates still pan mining industry, government efforts

Scattered among the kiosks at a large Canadian government promotional booth lies a stack of official-looking pamphlets titled ‘Corporate social responsibility: A business strategy that reflects Canadian values.’

Natural Resources Minister Joe Oliver is visiting that booth, run by his own department. It’s the afternoon of March 5, the first official day of the Prospectors and Developers Association of Canada’s gargantuan mining conference, the largest event of its kind in the world.

Here in the belly of the sprawling Metro Toronto Convention Centre, he is being treated like a rock star: a pack of reporters and photographers follow his every move, while three of his handlers scurry behind him, trying to stay out of the snapshots and fretting about their minister taking a wrong turn.

Mr. Oliver is standing near the pamphlets, but his attention is being held by a booth crew explaining sections of a long scale model of Canada’s Green Mining Initiative encased in glass, complete with miniature toy dump trucks.

NEWS RELEASE: Over 30,000 Attend Prospectors and Developers Association of Canada Convention

March 7, 2012

FOR IMMEDIATE RELEASE

Toronto, March 7, 2012-Over 30,000 people attended this year’s Prospectors and Developers Association of Canada’s (PDAC) Convention, breaking last year’s attendance record of 27,714.

“The convention has really hit its stride in terms of its place in the global mineral industry-this year’s attendance attests to that,” says PDAC President Scott Jobin-Bevans. “The tremendous networking and educational opportunities the convention offers really sets the standard for the industry. No other annual convention for mineral exploration and mining
draws a crowd of this size.”

The convention, now in its 80th year, attracts investors, analysts, mining executives, geologists, prospectors and international government delegations from all over the globe. The Trade Show and Investors Exchange combined feature over 1,000 exhibitors.

“PDAC brings together explorers, developers and producers for what is arguably the global mining industry’s most important event of the year,” says Rob Krcmarov, Barrick Gold’s Senior Vice President of Global Exploration.

Copper miner has golden touch – by Peter Koven (National Post – March 6, 2012)

March 6, 2012

The National Post is Canada’s second largest national paper.

Ross Beaty is the first to admit it – he is an incredibly lucky guy. Thanks to an epic financial crisis and the hard work of an outside company, Mr. Beaty’s Lumina Copper Corp. has stumbled into the biggest new copper discovery in years. The Taca Taca project in Argentina seems to add more pounds of copper by the week, and Mr. Beaty’s favourite hobby these days is just keeping track of it.

He keeps a giant wall map of Taca Taca in his office. Each day, he receives a report from the property and plots it out on the map. Despite being a veteran of many copper discoveries, the results from this project continue to amaze him.

“Just this morning, today, we had a hole that could add 800 million pounds to the size of this project,” the famed Vancouver mining entrepreneur and founder of Pan American Silver Corp. said in an interview in February. “It’s just ridiculous.”

China’s growth forecast chills commodity markets – by Richard Blackwell and Nicolas Johnson (Globe and Mail – March 6, 2012)

March 6, 2012

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

The prospect of slower growth in China threw a scare into commodity markets on Monday, raising worries about the sustainability of Asia’s voracious demand for a host of natural resources.

Commodity prices slumped and stocks in the sector retreated sharply after China lowered its gross domestic product growth target for the year to 7.5 per cent from 8, extending a trend of slowing expansion. Last year the economy grew by 9.2 per cent, down from 10.3 in 2010.

The new GDP target, if hit, would be the first dip below 8 per cent since 2004, a significant change for the world’s second-largest economy. China is a huge buyer of raw materials – its demand takes up more than 40 per cent of the world’s copper, zinc, aluminum and nickel – so any slowdown in consumption can send prices tumbling in those commodities and many others.

The S&P/TSX capped metals and mining index sank 4.4 per cent Monday. Copper prices fell about 1 per cent, while gold was down $5.90 (U.S.) an ounce to $1,703.90.

Honourable Joe Oliver, P.C., M.P. Canadian Minister of Natural Resources PDAC Speech – (March 5, 2012 – Toronto, Canada)

March 6, 2012March 6, 2012

(L to R)Honourable Joe Oliver, P.C., M.P. federal Minister of Natural Resources, Ross Gallinger, Executive Director, Prospectors and Developers Association of Canada (PDAC)

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Introduction

Thanks very much, Scott (Scott Jobin-Bevans, President of PDAC), and thanks to the Prospectors and Developers Association of Canada for the opportunity to be part of this great event.

I also want to thank Alex Jacobs, elder and member of the Ojibway First Nation of Whitefish Lake, for being here.

It is a pleasure to be here, and to welcome all of our visitors to Toronto and to Canada.

I have to congratulate P-DAC for putting together yet another outstanding program. When P-DAC says this is “where the world’s mineral industry meets,” it’s not exaggerating.

P-DAC is the premier event of its kind in the world. The 2011 convention attracted over 1,000 exhibitors and nearly 28,000 attendees, including 1,500 students and 7,000 international delegates from 120 countries.

Honourable Joe Oliver, P.C., M.P. federal Minister of Natural Resources tours PDAC convention

Honourable Rick Bartolucci: Minister of Northern Development, Mines Official Opening Ontario Pavilion (PDAC) Speech – (Toronto – March 5, 2012)

March 6, 2012March 6, 2012

(L to R) Garry Clark, Executive Director of the Ontario Prospectors Association; Honourable Rick Bartolucci, Minister of Northern Development, Mines; Chris Hodgson, President of Ontario Mining Association; Bill Mauro, Parliamentary Assistant to the Minister of Northern Development and Mines

Metro Convention Centre Toronto

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Good afternoon, everyone.

I’d like to begin by thanking Garry Clark, Executive Director of the Ontario Prospectors Association and Chris Hodgson, President of the Ontario Mining Association for joining me here today.

I welcome this opportunity to officially open the Ontario Pavillion and to highlight or, to be blunt, brag to the international mining community, about the many accomplishments and strengths of Ontario as a world leader in mining.

I’ve had the opportunity to discuss mineral and mining development with Garry and Chris on many occasions. Their insights are invaluable and, when it comes to achieving the ultimate goal of sustainable mineral development, I believe we are all “on side.”

I would also like welcome Mayor Marianne Matichuk of Greater Sudbury, Mayor Keith Hobbs of Thunder Bay, Mayor Tom Laughren of Timmins, and Mayor Al MacDonald of North Bay, who are in attendance today.

Honourable Rick Bartolucci, Minister of Northern Development, Mines; Marianne Matichuk, City of Greater Sudbury Mayor

Record streak for mining takeovers extends into 2012 [PDAC] – by Nicolas Johnson (Globe and Mail – March 5, 2012)

March 5, 2012

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

The global mining industry’s appetite for deal-making has returned after a record year for mergers gave way to a relatively quiet few months.

Glencore International PLC’s $41-billion (U.S.) offer last month to buy out Xstrata PLC has catapulted the value of transactions announced this year to almost a quarter of last year’s $184-billion. While such giant deals are rare, they can trigger moves by competitors.

Mergers and acquisitions will be a major focus as mining companies descend on Toronto this week for the Prospectors and Developers Association of Canada annual conference – a key event for the industry as it faces severe headwinds. Metals producers are desperate to combat rising costs so they can capitalize on the soaring prices of gold, silver and copper.

Dundee Securities bullish on gold, but so-so on base metals – by Dorothy Kosich (Mineweb.com – March 5, 2012)

March 5, 2012

www.mineweb.com

Gold will still continue its 11 year bull run in 2012, Dundee Securities forecasts, but the anlysts are “anything but certain” on the outlook for base metals.

RENO (MINEWEB) – Dundee Securities analysts continue to believe that the fundamentals remain in place for higher gold prices.

The outlook for base metals this year, however, is “anything but certain,” the analysts cautioned. In their annual report on junior exploration companies, Dundee views gold demand as strong “and higher prices are needed to encourage new supply.”

“Good fortune has already smiled on gold in 2012, as the U.S. Federal Reserve’s pledge on January 25 to keep interest rates low through at least 2014 has lifted prices of the yellow metal.”

“The prospect of reflation has been, and remains one of our key bullish arguments for commodity prices,” the analysts said.

“The notion of quantitative easing in the U.S. as well as pressure on the ECB (European Central Bank) to provide liquidity to banks continues.

As PDAC opens miners looking forward to better times – by Euan Rocha (Mineweb.com – March 3, 2012)

March 5, 2012

www.mineweb.com

After a bit of a malaise in the second half or 2011, miners and explorers attending this year’s PDAC in Toronto are seeing positive indicators from U.S. and China boosting sentiment, although capital cost rises are an ongoing worry

TORONTO (Reuters) – Detour Gold last month sold C$277 million of equity to investors willing to bet on its promising gold project – a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlier.

Detour’s success in raising funds is one of many small signs that the malaise that gripped miners, explorers and investors in late 2011 is easing. A brighter economic outlook has brought a ray of optimism back to the global mining sector, which gathers next week in Toronto for its biggest convention of the year.

While stresses still weigh heavily on the world financial system, a batch of decent U.S. economic data and easing concerns about a slowdown in China have breathed fresh life into mining stocks that tumbled last year.

Former First Nation chief becomes face of Canadian mining [at the PDAC] – by Ian Ross (Northern Ontario Business – March, 2012)

March 1, 2012

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business ianross@nob.on.ca.

Taking the lead

When Glenn Nolan first attended the Prospectors and Developers Association of Canada’s (PDAC) annual spring convention in 2004, there were a couple dozen Aboriginal faces in the crowd among the world’s mining heavyweights.

The agenda set aside for First Nations discussion was small, and was reflective of the state of the mining industry’s relations with Canada’s indigenous people.

“When we started doing Aboriginal sessions, it was all about conflict,” said Nolan, who serves as Noront Resources’ vice-president of Aboriginal relations. Things are decidedly different heading into this month’s show in Toronto.

PDAC corporate membership rolls list about 400 who are self-identified Inuit, Metis and First Nation delegates.

Attawapiskat: Lots of love, and rocks, for a young generation [PDAC Mining Matters] – by Jim Coyle (Toronto Star – January 30, 2012)

November 5, 2015January 30, 2012

The Toronto Star, has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

ATTAWAPISKAT, ONT. — At Micheline Okimaw’s White Wolf Inn, the most popular of the two motels in this remote James Bay reserve, visitors to town tend to cross paths. And in recent days, in Okimaw’s cozy confines, folks arrived trying to help the community with both its future and its past.

From the organization Mining Matters, a travelling “school of rock” in the person of Toronto teachers Barbara Green Parker, Janice Williams and Jenni Piette, came a high-energy presentation on earth sciences and how that field could lead to jobs for young people in projects like a nearby diamond mine.

From Angela Lafontaine, a member of the Moose Cree First Nation, survivor of her own difficult past, came help addressing long-standing wounds that have gone unhealed down generations and helped sabotage aboriginal aspirations.

For the Cree of Attawapiskat, each of those aims — hopeful futures, reconciled pain — is as necessary as the other.

The Horrible Reputation of Canada’s Mining Sector – by Stan Sudol

June 8, 2015November 29, 2011

Stan Sudol is a Toronto, Canada-based communications consultant, mining columnist and blogger. stan.sudol@republicofmining.com

Biggest commodity super-cycle in the history of mankind

The future of mining has never been brighter, yet its image among the general population seems to have plunged lower than the famous Kidd Creek mine in Timmins, Ontario – the world’s deepest base metal operation. The largest rural to urban migration in the history of mankind is taking place in China. It has been often said, that China needs to build two cities the size of Toronto, Canada and Sydney, Australia to accommodate that growth, every year! Analysts estimate that China’s middle class is expanding so rapidly that it will soon overtake the current U.S. population of 312 million.

In October, 2011, the world’s population had passed the seven billion mark. India, Brazil, Indonesia, Turkey and many other developing countries are following China and urbanizing and industrializing their economies. Mining experts feel that over the next 25 years, we will need to dig out of the ground as many minerals as consumed since the beginning of mankind.

One of the biggest concerns is a shortage of skilled workers. In the next decade half the mining workforce in Canada is eligible to retire and there are significant difficulties attracting and engaging the digital generation.
According to the Ottawa-based Mining Industry Human Resource Council’s 2011 hiring report, the industry will need to hire betwee 75,280 to 141,540 new workers in Canada depending on the state of the global economy by 2021. Similar labour shortage issues exisit in other western mining jurisdicitions like Australia and the United States.