Archive | Quebec Mining

Osisko builds critical mass in Quebec – by Trish Saywell (Northern Miner – May 17, 2018)

http://www.northernminer.com/

In the first five months of the year, Osisko Mining (TSX: OSK) released resource estimates for two projects in Quebec while keeping in step with an ambitious drill program that is the largest of its kind in Canada.

Earlier this month, Osisko unveiled its first resource estimate on its 100%-owned Windfall deposit, 115 km east of the town of Lebel-sur-Quevillon. Windfall is one of the highest-grade resource-stage gold projects in Canada.

The company outlined an indicated resources of 2.38 million tonnes grading 7.85 grams gold per tonne for 601,000 ounces of contained gold and inferred resources of 10.61 million tonnes grading 6.7 grams gold for 2.28 million oz. of gold, using a cut-off grade of 3 grams gold per tonne. Continue Reading →

Stornoway shares recede on curbed production, sales forecasts – by Nicolas Van Praet (Globe and Mail – May 17, 2018)

https://www.theglobeandmail.com/

Canadian diamond miner Stornoway Diamond Corp. has cut its production and sales guidance for the year, putting pressure on its balance sheet at a critical time as it shifts operations at its Renard mine from open pit to below ground.

The shares fell 5 per cent to $0.54 in Toronto trading on Wednesday afternoon. Longueuil, Que.-based Stornoway said in a release it now expects to produce between 1.35 million and 1.4 million carats of diamonds this year, down from an initial forecast of 1.6 million carats.

The company also revised its expectation for carats sold, to between 1.2 million carats and 1.25 million carats from 1.6 million previously. Continue Reading →

Canada / U.S. big players announce world’s first carbon-free aluminum smelting process – by Valentina Ruiz Leotaud (Mining.com – May 10, 2018)

http://www.mining.com/

In an official event that included Canada’s Prime Minister, Justin Trudeau, Québec’s Premier, Philippe Couillard, and Apple’s CEO, Tim Cook, Alcoa (NYSE: AA) and Rio Tinto (ASX, LON:RIO) announced the launching of Elysis, a joint venture company whose goal is to push towards commercial production a newly discovered, carbon-free aluminum smelting process.

At the event, executives from the companies involved explained that the innovative aluminum-making method produces oxygen and eliminates all direct greenhouse gas emissions from the traditional smelting process.

As an example, they said that, if fully implemented at existing aluminum smelters, the technology could eliminate the equivalent of 6.5 million metric tonnes of greenhouse gas emissions in Canada. This represents an amount roughly equal to taking nearly 1.8 million light-duty vehicles off the road. Continue Reading →

Rio Tinto Tax Evasion Allegations Shouldn’t Scare Canadian Firms – by Peter Menyasz (Bloomberg News – May 7, 2018)

https://www.bna.com/

Companies shouldn’t be afraid to conduct legal tax planning, despite tax evasion allegations against a Canadian Rio Tinto subsidiary, practitioners said.

Vancouver-based Turquoise Hill Resources Ltd. allegedly avoided as much as $470 million in taxes on its copper and gold mine in Mongolia, according to a watchdog group. But the company insists it is in compliance with Canadian law.

The discrepancy highlights the complex nature of interpreting tax law, which varies widely across countries, practitioners said. And tax avoidance is a major focus for countries, particularly as they look at how to treat multinational tech firms. Continue Reading →

NEWS RELEASE: Development of the Labrador Trough – Position of the Innu of the North Shore (April 13, 2018)

UASHAT MAK MANI-UTENAM, QC, April 13, 2018 /CNW Telbec/ – In response to yesterday’s announcement of a new partnership between Quebec and Newfoundland and Labrador with respect to the development of the Labrador Trough, the Innu Takuaikan Uashat mak Mani-utenam and the Matimekush-Lac John Council wish to highlight the fact that the Labrador Trough is largely located within the traditional territory (Nitassinan) of the Innu of Uashat mak Mani-utenam and the Innu of Matimekush-Lac John, both of whom assert Aboriginal title and rights to the trough and the minerals found therein.

“Quebec and Newfoundland continue to live in a bygone era, one in which they believe it is still possible to disregard First Nations on their own territories.

Not only was Quebec just recently trying to sideline us from federal environmental assessments, but is now entering into partnership agreements that we are learning about after the fact.” Said Chief Mike McKenzie of the Innu Takuaikan Uashat mak Mani-utenam. Continue Reading →

Ball, Couillard talk mining, roads – by David Maher (St. John’s Telegram – April 12, 2018)

http://www.thetelegram.com/

N.L. and Quebec seek to expand mining in Labrador Trough

Premier Dwight Ball and Quebec Premier Philippe Couillard are sending a signal that the Labrador Trough is open for business for the mining industry.

The provinces entered an agreement on Thursday to send a signal that they aim to work together on jurisdictional and geological information. One of the goals is to eliminate jurisdictional squabbles over the Labrador-Quebec border that could delay mining the area.

“Both our jurisdictions are recognized as an attractive place to do business. What we want to do is make sure that we do a better job of sharing information,” Ball said. Continue Reading →

SoftBank’s first lithium deal raises prospects for junior miners – by Susan Taylor and Nicole Mordant (Reuters U.S. – April 6, 2018)

https://www.reuters.com/

TORONTO/VANCOUVER (Reuters) – SoftBank Group Corp’s (9984.T) entry into the lithium sector, a hot commodity for electric car batteries, is raising hopes that small miners struggling to secure bank funding can tap alternative financing to cash in on booming demand.

Japan’s SoftBank, with investments including ride-services firm Uber [UBER.UL] and Chinese online retailer Alibaba (BABA.N), will invest up to C$99.1 million ($78 million) for a stake of up to 9.9 percent in Nemaska Lithium Inc (NMX.TO).

Separately, Nemaska is also in talks with U.S. private equity firm Orion Mine Finance on a streaming deal, a type of specialized mining finance, people familiar with the transaction told Reuters. Nemaska shares jumped as much as 20.5 percent on Friday, giving the Quebec-based company a market value of C$566 million. Continue Reading →

NEWS RELEASE: Quebec Iron Ore to Ship First Vessel of High Quality Canadian Iron Ore From Sept-Îles to Asia (March 27, 2018)

MONTRÉAL, March 27, 2018 (GLOBE NEWSWIRE) — Quebec Iron Ore Inc. (“QIO”), a Champion Iron Limited (ASX:CIA) (TSX:CIA) (“Champion” or the “Company”) subsidiary, is pleased to announce that preparation for the first shipment of Bloom Lake Iron Ore Mine (“Bloom Lake”) high quality iron ore is underway following the arrival of the MV Magnus Oldendorff at the Port of Sept-Îles on March 25, 2018.

The first shipment to Asia will comprise up to 200,000 wet metric tonnes of high-grade 66% Fe iron concentrate, part of the tonnage transported by rail to the port over the last month from QIO’s Bloom Lake minelocated near Fermont, Quebec.

The loading of the MV Magnus Oldendorff (pictured) at the Pointe-Noire terminal completes a historic milestone for the Company and the Port of Sept-Îles as it represents the first vessel loading at the brand new terminal and also marks the inauguration of the new conveyor linking the stockyard to the new terminal. Continue Reading →

PDAC 2018 Special Achievement Award: Jean Descarreaux (deceased)

PDAC 2018 – Special Achievement Award – Jean Descarreaux from PENDA Productions on Vimeo.

http://www.pendaproductions.com/ This video was produced by PENDA Productions, a full service production company specializing in Corporate Communications with a focus on Corporate Responsibility.

Special Achievement Award - Jean Descarreaux.jpg

Marie-Claude Descarreaux (left), Glenn Mullan, PDAC President (middle) and Isabelle Descarreaux

From time to time, PDAC presents a Special Achievement Award that recognizes exceptional contributions to the mineral industry.

Jean Descarreaux (deceased) – For founding the Québec Mineral Exploration Association (AEMQ) and developing the mineral exploration sector in Quebec

Jean Descarreaux is best known for his role in developing the Québec mineral exploration sector. In 1975 he co-founded the Québec Prospectors’ Association (now the Québec Mineral Exploration Association, or AEMQ) to promote exploration and entrepreneurship in the province. Continue Reading →

RNC mulls selling Aussie mine to focus on massive cobalt-nickel project in Quebec – by Cecilia Jamasmie (Mining.com – March 22, 2018)

http://www.mining.com/

Canada’s RNC Minerals (TSX: RNX) said Thursday it might sell all or part of its Beta Hunt gold and nickel mine in Western Australia to focus instead on its Dumont cobalt and nickel project in Quebec, the world’s largest undeveloped reserve of both metals.

The Toronto-based miner, which acquire Beta Hunt in 2016, said while it has grew the scale of the operation ever since, such asset is now considered to be non-core to RNC, particularly since Dumont’s potential value is significantly greater than the Australian mine’s current worth.

The company, however, did say it would consider other strategic alternatives for Beta Hunt, adding that no decision about the mine future has been made at the time. Continue Reading →

RNC’s Mark Selby dispels myths regarding nickel demand as new EV markets beckon – Henry Lazenby (Mining.com – March 14, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Tightening long-term fundamentals for nickel are sketching a rosy picture for the stainless steel-making ingredient, as increased dependence from the burgeoning electric vehicle (EV) market adds a growing new demand stream in an already constrained supply scenario.

RNC Minerals president and CEO Mark Selby recently told an audience in Toronto that the nickel market has surprised many commentators with continued strong demand, with the recent market focus shifting to forthcoming demand from EVs in the 2020s expected to support an already robust medium and long-term picture.

According to him, stainless steel underpins an already robust nickel demand scenario. Demand for the metal had grown 5% over the last ten years, intensifying in 2016 and 2017 to more than 7% a year and creating a significant supply deficit in 2017 of more than 150 000 t, or 7% of global supply. Continue Reading →

‘Suds’ strategy pays through the drill bit as Osisko aims at replicating Canadian Malartic success – by Henry Lazenby (MiningWeekly.com – March 8, 2018

http://www.miningweekly.com/

TORONTO (miningweekly.com) – Celebrated Canadian precious metals firm Osisko Mining is aiming to replicate the success of its 9.4-million-ounce Canadian Malartic gold mine discovery – currently Canada’s largest producing gold mine – at its flagship Windfall Lake property, located in the Abitibi greenstone belt of Quebec.

The company relies on its somewhat quirky-yet-imminently-effective strategy called ‘Suds’, which is an acronym for “shut up and drill stupid”, chairperson Sean Roosen told a packed audience of miners and financiers during the recent Prospectors and Developers Association of Canada 2018 convention, in Toronto.

Osisko has had a colourful history, coming full circle from exploration and development, to royalties and financing, and back to exploration and likely development again. Continue Reading →

Deadly mineral that endangered town of Asbestos might save it (Bloomberg News/Montreal Gazette – March 7, 2018)

http://montrealgazette.com/

Residue from asbestos mine is rich in magnesium, which can be transformed into a light metal used in everything from medical implants to Tesla electric cars

There’s no running away from the past in Asbestos. The town’s most prominent landmark is a crater more than two kilometres wide — and deep enough to lodge the Eiffel Tower — a testament to the world’s once-bottomless appetite for the deadly mineral that sustained the local economy for decades and gave the town its name.

Quebec once produced half of the world’s asbestos and offered the highest-paying mining jobs in Canada before concern about cancer led to the fire-resistant fibre being banned in more than 50 countries, with the mine finally shutting down in 2012.

But now it turns out that the future of Asbestos may actually be in asbestos. Well, not in asbestos, per se, but in the millions of tons of discarded residue that piled up over more than a century of mining for it. Continue Reading →

Cobalt price: Supply scramble heats up with Canadian deal – by Frik Els (Mining.com – February 22, 2018)

http://www.mining.com/

Investors piled into Cobalt 27 Capital Corp (TSX-V:KBLT) and RNC Minerals (TSX:RNX) on Thursday after the companies entered into a royalty deal on all future nickel and cobalt production at RNC Minerals’ Dumont project in Quebec in a deal worth $70 million.

Shares in Toronto-based Cobalt 27 gained as much as 6% in lunchtime trade lifting its market cap to C$440m ($350m) . Investors who bought into the battery metals story when Cobalt 27 listed in June are now enjoying a 45% appreciation in the value of the stock since then. Cobalt 27 stockpiles the metal, holds options on cobalt juniors and enters into streaming and royalty deals in an effort to be a pure play on the cobalt price.

RNC Minerals stock popped 12% shortly after the open on the TSX affording the company a market value C$90m before cooling off in later trade. The Toronto-based firm which changed its name from Royal Nickel Corp in 2016 owns 50% of the Dumont project in the Abitibi mining camp in a joint venture with Waterton, a private equity investor. RNC Minerals is up 43% year to date. Continue Reading →

[Northern Superior Resources] A tale of two exploration projects – by Karen McKinley (Northern Ontario Business – February 21, 2018)

https://www.northernontariobusiness.com/

President, CEO and director of Northern Superior Resources gives overview of challenges of exploration on Ontario and Quebec properties

If there’s one piece of advice Tom Morris can give to mineral exploration companies, it’s let nature tell the story.

After more than 35 years in prospecting, exploration and mining, the president of Northern Superior Resources brought a message to the Sudbury Prospectors and Developers Association. Pay close attention to the findings, even if they aren’t what they are looking for, to determine what kind of resources are really in the ground.

Morris spoke on Jan. 20 about what he learned from two properties: TPK in the Far North, near the Ring Fire, and Croteau Est in Quebec. Very different locations, infrastructure needs, and histories. Both are showing great promise as potential gold mines. Continue Reading →