Archive | Quebec Mining

McGill receives $5-million gift from noted Canadian geologist Bob Wares (McGill University News – September 26, 2018)

https://www.mcgill.ca/

Donation will support Faculty of Science and Department of Earth and Planetary Sciences

As an entrepreneurial geologist, Bob Wares, (BSc’79, DSc’12), became a mining rock star when he discovered one of Canada’s largest gold deposits in the Abitibi region of Quebec. Now, he is bringing that Midas touch to his alma mater in the form of a landmark $5-million gift that will support research programs, fellowships, innovative research, a lecture series and outreach efforts in McGill University’s Faculty of Science, with a particular focus on his home department, Earth and Planetary Sciences (EPS).

The gift will provide immediate impact for students and faculty in five targeted areas:

– the Wares Science Innovation Prospectors Fund, designed to support innovative, high-risk research by funding up to four promising projects a year from researchers across the Faculty of Science;

– a Recruitment and Outreach Coordinator Fund, supporting the activities of a coordinator to liaise with CEGEPs and high schools in an effort to attract more students to EPS studies at McGill; Continue Reading →

SoftBank moves to lock up lithium, the lifeblood of electric cars – by Minoru Satake (Nikkei Asian Review – September 24, 2018)

https://asia.nikkei.com/

TOKYO — SoftBank Group is on the hunt for natural resources, particularly the lithium needed for electric car and smartphone batteries.

Demand is expected to surge as more electric vehicles hit roads worldwide. Competition for battery materials is stiff, with Apple rushing to secure supplies of cobalt. And SoftBank considers lithium a priority, as it looks to build a stronger foundation for its other investments, like ride-hailing companies.

In June, SoftBank enlisted the chairman of trading house Mitsui & Co., Masami Iijima, to serve on its board as an outside director. A SoftBank executive said the move was made to “facilitate our future efforts to secure resources.” Continue Reading →

Kirkland Lake Gold raises stake in Osisko Mining – Staff (Northern Miner – September 19, 2018)

http://www.northernminer.com/

Kirkland Lake Gold (TSX: KL; NYSE: KL) has boosted its ownership in Osisko Mining (TSX: OSK) from 8.58% to about 13.61%.

The mid-tier gold producer reported it has invested about C$25 million to acquire 14.71 million Osisko shares at $1.70 apiece, bringing its total shares in the company to 32.63 million.

Kirkland Lake’s president and CEO, Tony Makuch, said the strategic investment increases its ownership interest in northwestern Quebec’s Urban Barry area, which he believes “has become a new, highly prospective mining camp in the prolific Abitibi Greenstone belt.” Continue Reading →

Canada’s Aluminum Valley grapples with U.S. tariffs – by Emma Jacobs (Market Place.org – September 17, 2018)

https://www.marketplace.org/

Canada’s Aluminum Valley is a two-hour drive north of Quebec City, in the region of Saguenay—Lac-Saint-Jean. Five aluminum smelters along a 50-mile stretch of the Saguenay River account for almost half of Canada’s aluminum production.

This has residents here following negotiations between Canada and the United States over a new North American Free Trade Agreement especially closely, with hopes an accord will clear the way to lifting tariffs on Canadian steel and aluminum in place since June.

The first smelter opened in this region in 1926 was built by Americans, attracted by plentiful hydroelectricity. The adjoining company town was named Arvida, after industrialist Arthur Vining Davis. The structures from the Arvida smelter are still part of the large Jonquière Complex, which includes two of the smelters and a refinery. Continue Reading →

NEWS RELEASE: Wallbridge Announces $3.9 Million Strategic Investment by Eric Sprott (September 14, 2018)

http://www.wallbridgemining.com/

Toronto, Ontario – September 14, 2018 – Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (“Wallbridge” or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Offering”) through the issuance of 30,000,000 units of the Company (each a “Unit”) for gross proceeds of $3,900,000. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, was the sole purchaser of the Offering.

“We are pleased to have a gold investor such as Eric Sprott as one of our large shareholders. Eric is very familiar with high grade gold deposits in the world and Fenelon obviously fit that bill,” stated Marz Kord, President & CEO of Wallbridge. “On behalf of all Wallbridge shareholders, we welcome Eric’s support in our drive to make Fenelon Gold to be the first high grade operating mine in this emerging belt in Northwestern Quebec.”

Under the terms of the Offering, the Units were issued at a price of $0.13 per Unit. Each Unit consists of one common share of the Company (a “Common Share”) and a one-half Common Share purchase warrant. Each whole Warrant (a “Warrant”) will entitle the holder to acquire one additional Common Share (a “Warrant Share”) for a period of twenty-four (24) months from the closing date at an exercise price of $0.20 per Warrant Share. Continue Reading →

Simmering Alcoa Labor Dispute Morphs Into ‘Clash of the Titans’ – by Sandrine Rastello and Joe Deaux (Bloomberg News – September 11, 2018)

https://www.bloomberg.com/

Workers of the Alcoa Corp.-controlled Becancour smelter in Quebec stand guard under umbrellas outside the gates. Whenever a vehicle approaches, a pair scurries to take down the driver’s details and make sure there’s no scab laborer in disguise.

The ritual, witnessed on a rainy August morning, has become part of life at the aluminum plant since January, when the company locked out more than 1,000 employees represented by the United Steelworkers union. The entrance is also where tensions have flared as the conflict, which started over pensions and recruitment rules, turned into a deadlock.

For Pittsburgh-based Alcoa, the dispute has resulted in a production decline at the plant, adding to pressures resulting from U.S. aluminum tariffs that have hit its three smelters in Canada. The company is now seeking deeper changes — including reduced payrolls — to make the plant more competitive. For their part, workers say they’ve already made concessions and are fighting to retain seniority rights. Continue Reading →

Meet the Canadian miner that plans to shake up the nickel industry – by Gabriel Friedman (Financial Post – August 25, 2018)

https://business.financialpost.com/

If Royal Nickel Canada succeeds, it would show how Chinese demand for raw materials can stimulate the expansion of Canadian mining

To hear Mark Selby tell it, the Canadian nickel industry is actually an “oligopoly,” in which a few large companies control the smelters, and grab an outsized share of the profits.

Selby, chief executive of Toronto-based Royal Nickel Corp., which is raising money to build a mine in Quebec, thinks he can break that pattern.

On Thursday, his company announced it has devised a way to reverse-engineer a product that resembles nickel pig iron — a lower grade, cheaper form of the metal derived from ores found in tropical areas. Continue Reading →

Quebec government opens vault for mining project: Chibougamau iron, vanadium deposit attracts $248 million in provincial funding – by Staff (Northern Ontario Business – August 23, 2018)

https://www.northernontariobusiness.com/

The Quebec government is dropping a combined $248 million to assist a major mining project, processing plant and port improvements in the central part of the province.

The provincial government is providing $185 million in financial assistance to BlackRock Metals of Montreal to support the development of an open-pit mine of iron, vanadium and titanium near Chibougamau in the Nord-du-Québec region.

The funding is earmarked toward setting up a secondary processing plant in the Grande-Anse section of the industrial port area of Saguenay. Continue Reading →

NEWS RELEASE: VanadiumCorp applauds the Government of Québec $248 million investment in the BlackRock Metals project and the development of the Grande-Anse Sector

VANCOUVER, Aug. 22, 2018 /CNW/ – VanadiumCorp Resource Inc. (TSX “VRB”) (the “Company”) applauds the announcement made yesterday in Saguenay, Quebec, Canada outlining investment in the Blackrock Metals project. VanadiumCorp owns 100% of the Lac Dore Vanadium Project adjacent to Blackrock Metals permitted mining project near Chibougamau, Quebec, Canada.

News release below from the Office of the Deputy Prime Minister, Minister of the Economy, Science and Innovation and Minister responsible for the Digital Agenda:

The Government of Québec is providing a total of $185 million in financial assistance to BlackRock Metals to support the construction of an open pit mine of iron, vanadium and titanium near Chibougamau, in the Nord-du-Québec region. This financial assistance is also aimed at setting up a secondary processing plant in the Grande-Anse sector of the industrial port area of Saguenay. Continue Reading →

A Town Named Asbestos Once Produced Most of the World’s Asbestos Supply – by Sarah Laskow (Atlas Obscura.com – August 9, 2018)

https://www.atlasobscura.com/

Asbestos mining in Canada stopped only in the past decade.

HIDDEN IN OLD BUILDINGS AND under streets, asbestos—once thought of as a “miracle mineral”—is always lurking. Though today it might seem like a relic of the past, under new rules from the U.S. Environmental Protection Agency, the U.S. government could approve new uses of asbestos in consumer products going forward, reports Fast Company.

There are still places where asbestos mining is a notable industry: Canada’s asbestos mines—including the mine at Asbestos, Quebec, once the largest in the world—only closed within the last 10 years, and in Russia, the town of Asbest is still a major center of asbestos production.

Asbestos has many strange properties and has been incorporated into manmade products going back thousands of years. Manufactured, it often comes into human environments as a textile or a dangerous powder, but in nature it appears as six different types of natural silicates. Continue Reading →

Rio Tinto considers float of Canadian iron ore business-sources – by Clara Denina (Reuter U.S. – August 9, 2018)

https://www.reuters.com/

LONDON (Reuters) – Rio Tinto, the world’s second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources said, as it focuses on boosting revenue from its flagship Australian assets.

Iron ore, which accounts for most of Rio’s profit and is used in making steel, has provided healthy margins for years but the outlook is uncertain as major buyer China is expected increasingly to rely on recycling rather than importing raw material.

Following a commodity price crash in 2015, Rio put a string of assets on the block, mostly in coal, to decrease its debt load. In iron ore, its push to refocus has meant concentrating on Australia’s Pilbara region, where it has lower costs and higher grades. Continue Reading →

The odds are stacked against gold juniors like never before: Abitibi Royalties CEO – by Valentina Ruiz Leotaud (Mining.com – July 14, 2018)

http://www.mining.com/

Huge hurdles are stacked against gold juniors in the quest to become a mine, says Abitibi Royalties’ CEO Ian Ball.

Ball, who spoke to MINING.com in March at PDAC in Toronto, was former President of McEwen Mining before moving onto Abitibi Royalties four years ago. During Ball’s tenure as CEO, the company’s stock has increased 3.1 times in value going from $3.27 per share to $10.44.

Ball sees a lot of headwinds in the industry. He does not see a significant gold price moves to the upside. Average gold grade is declining, which requires larger plants and more capital to move ore. Regulations are becoming more stringent. Productivity improvements are still lagging. Continue Reading →

Cree see benefits from Quebec’s first diamond mine, built on their territory – by Kevin Dougherty (CBC News Canada – July 8, 2018)

https://www.cbc.ca/news/canada/

Cree leaders negotiated to have guaranteed jobs, contracts and a share of the royalties from the Renard mine

Quebec’s first diamond mine — the $774-million, Stornoway Diamond Corp.’s Renard mine — sits on Cree territory, about 800 kilometres from Montreal in northern Quebec.

In operation since January 2017, the mine would not have happened without a unique agreement reached between the company and the Cree, who are guaranteed jobs, contracts and a share of the royalties, once the mine is profitable.

For more than a year now, the mine has been producing diamonds, some of which are sold at Montreal’s Birks jewellery store. They bear a fleur-de-lis inscribed by a laser, and come with a certificate that says they’re officially, “Diamants du Québec.” Continue Reading →

Lithium is exploding but Canada’s distance from China has miners at a disadvantage – by Gabriel Friedman (Financial Post – July 7, 2018)

https://business.financialpost.com/

Australia is in the midst of a lithium mine boom whereas Nemaska will be the first new lithium project in Canada in years, when construction is finished around 2020

This spring, Nemaska Lithium Inc’s chief executive Guy Bourassa returned to Canada from a trip to Asia, jet lagged and tired — and still months away from closing a deal to sell lithium from his company’s planned operations in Quebec to South Korean battery maker LG Chem Ltd.

“It seems to be taking longer than we expected,” Bourassa said in an April interview with the Financial Post. This week, Bourassa finally closed the deal. LG Chem will buy 7,000 tons per year for five years beginning in 2020, when his mine and conversion plant are expected to be operating.

A major stumbling block, he explained in an interview this week, which helped drag negotiations out for six months, was figuring out where to obtain the ‘market’ price for lithium. Continue Reading →

Osisko Mining shareholders vote in favour of controversial stock-options package – by Niall McGee (Globe and Mail – June 29, 2018)

https://www.theglobeandmail.com/

Osisko Mining Inc.’s shareholders voted in favour of a controversial stock-options package Friday, while its chief executive officer says the company intends to move away from options as a form of compensation over time.

Ahead of Friday’s annual general meeting, proxy advisory firm Institutional Shareholder Services (ISS) advised shareholders of the junior mining company to vote against the package, citing concerns over its excessive cost, and criticizing the lack of performance-based criteria for receiving the options.

At Osisko, options are widely granted to officers, directors and employees, and often make up the lion’s share of compensation. For example, CEO John Burzynski made $3.15-million, with about $2.1-million in options, a $500,000 salary and a $590,000 bonus. Independent director Sean Roosen was paid $743,000 last year, $688,000 in options and a $55,000 cash fee. Continue Reading →