Archive | Quebec Mining

Canada lithium mining hopeful takes another big hit – by Frik Els (Mining.com – February 18, 2019)

http://www.mining.com/

Nemaska Lithium (TSE: NMX) announced on Monday it has terminated a multi-year supply agreement with Livent Corporation that would cost the Quebec company up to $20m to settle.

The deal with Livent, spun out of US lithium major FMC Corp last year, saw Nemaska provide up to 8,000 tonnes per year (28,000 tonnes in total during the term of the contract) of lithium carbonate starting in April this year.

According to a press released late on Monday, Nemaska told Livent it “might have no option but to terminate” the agreement and repay Livent the USD$10 million the it received in April 2017 “plus a similar amount as a termination fee”. Continue Reading →

Quebec lithium developer’s stock craters after cost blowout – by Amanda Stutt (Mining.com – February 13, 2019)

http://www.mining.com/

Nemaska Lithium’s (TSE: NMX) stock plummeted Wednesday after disclosing it has been forced to revise the budget for the Whabouchi lithium mine and Shawinigan electrochemical plant upward by C$375 million. The company, with a $300 million market cap on the TSX, clawed back some of the early day’s losses, but still closed the day down 35%.

Nemaska, which has also received funding from the Quebec provincial and Canadian federal governments, is building the Whabouchi hard rock lithium mine in the James Bay region and Shawinigan processing plant north of Montreal, aiming to put Canada on the global lithium production map.

Nemaska has already spent over $138 million on the Whabouchi mine and mill, and another $67.3 million for the plant in Shawinigan. The additional funding is largely related to installation and indirect costs, said the company. Direct purchase package costs – mainly equipment – are in line with the original budget. Continue Reading →

The lithium boom is over and only one Canadian company is poised to emerge with a new mine – by Gabriel Friedman (Financial Post – February 7, 2019)

https://business.financialpost.com/

Nemaska arranged a $1-billion financing to build a Quebec mine in the nick of time, while massive share price declines put other explorers’ projects out of reach

For a brief window of time, after Nemaska Lithium Inc.’s cafeteria went up in flames last week and the company halted construction of its mine in Quebec, questions swirled about what would happen next.

By Thursday, however, Nemaska’s workers were eating in a new cafeteria, operations resumed and the company’s investors were hardly burned — its stock barely down and trading at 60 cents — compared to everyone else in the lithium market.

Lithium — a key component in the batteries used in electric vehicles — started 2018 on a high note as prices for the metal drove investments in dozens of junior explorers. Continue Reading →

Federal government gives $4.2 million to renewables projects at northern mines – by Kylie Williams (CIM Magazine – January 29, 2019)

https://magazine.cim.org/en/

Wind turbines and compressed air energy storage to displace diesel at Raglan and Hope Bay

The federal government is investing $4.2 million in two renewable energy projects in Quebec and Nunavut to reduce reliance on fossil fuels at mines in Canada’s north.

Both projects will be managed by Tugliq Energy Corporation, a renewable energy company focused on remote regions.

The projects will be funded through Natural Resources Canada’s Energy Innovation Program, said Paul Lefebvre, the parliamentary secretary to Canada’s Minister of Natural Resources, at the Association for Mineral Exploration British Columbia’s (AME) Roundup conference in Vancouver on Monday. Continue Reading →

James W. (Jim) Gill (Born 1949) – 2019 Canadian Mining Hall of Fame Inductee

The Canadian Mining Hall of Fame was conceived by the late Maurice R. Brown, former editor and publisher of The Northern Miner, as a way to recognize and honour the legendary mine finders and builders of a great Canadian industry. The Hall was established in 1988. For more information about the extraordinary individuals who have been inducted into the Hall of Fame, please go to their home website: http://mininghalloffame.ca/

James Gill secured a place in mining history through the exceptional success and staying power of Aur Resources. In 1981, he made a timely decision to launch his own company and begin the hunt for projects with potential to become producing mines. With a PhD in economic geology and early career experience with senior companies, he brought strong technical skills and a disciplined approach to corporate management to his newly incorporated junior.

Aur began life with $250,000 of seed capital, which Gill parlayed into a large land package in Quebec’s Val d’Or mining camp. Aur became a modest-sized gold producer through discoveries and mine acquisitions, but the big breakthrough came in 1989 with the Louvicourt copper-zinc discovery. Gill’s entrepreneurial energy came to the fore as Louvicourt was developed into one of Canada’s premier copper-zinc mines. He continued to develop and acquire mines in Canada and abroad until 2007, when he negotiated a $4.1 billion buyout of Aur by Teck Resources.

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.

Mining was part of Gill’s DNA, as his grandfather James E. Gill (a 2003 CMHF inductee) was a successful consulting geologist and an influential professor of economic geology at McGill University. Born in Montreal, James W. Gill is a McGill graduate with a BSc degree (1971) and a MSc degree (1976). He also earned a PhD from Carleton University in Ottawa.


(LtoR) James W. Gill receiving the award from Anthony Vaccaro, CMHF Director and Group Publisher, The Northern Miner Group at the Canadian Mining Hall of Fame dinner on January 10th. Keith Houghton Photography.

Continue Reading →

Rio Tinto plans to list Canadian iron ore unit in early 2019: sources – by John Tilak, Joshua Franklin and Barbara Lewis (Reuters U.S. – December 24, 2018)

https://www.reuters.com/

(Reuters) – Anglo-Australian miner Rio Tinto (RIO.L) (RIO.AX) is preparing to take its Iron Ore Company of Canada business public in the first half of 2019 by dual-listing it in New York and Toronto, people familiar with the situation told Reuters.

The company has hired investment banks Royal Bank of Canada (RY.TO), Credit Suisse (CSGN.S) and JPMorgan Chase (JPM.N) to lead the IPO, according to sources who spoke on condition of anonymity as the information is not public.

Rio Tinto, the world’s second-biggest listed miner, is targeting a valuation of about $4 billion, they said. While Rio did not see much traction with a sale process, it has not ruled that out, the people said. Continue Reading →

Alcoa Cuts More Aluminum Output in Quebec – by Joe Deaux and Sandrine Rastello (Bloomberg News – December 19, 2018)

https://www.bloomberg.com/

Alcoa Corp. will further curtail production at a Canadian smelter as the biggest U.S. aluminum producer faces a shortage of workers amid a dispute with unionized workers and the impact of U.S. tariffs on shipments of the metal.

The Pittsburgh-based company said it will curtail half of the one operating potline’s 138,000 metric ton capacity at its majority-owned Aluminerie de Bécancour Inc. smelter in Quebec. Alcoa attributed the cut to recent departures and retirements of salaried employees, who were already working extra shifts since the producer locked out more than 1,000 union employees on Jan. 11.

The move is the latest twist in a labor dispute that started over pensions and recruitment rules, but turned into a deadlock that shut the smelter’s two other potlines. Prior to Wednesday’s announcement, Bloomberg Intelligence senior analyst Andrew Cosgrove estimated that the lockout at Becancour could curtail 280 000 t this year from the global market. Continue Reading →

Troilus buys more land north-east of past-producing mine – by Staff (MiningWeekly.com – November 29, 2018)

http://www.miningweekly.com/

Quebec-focused exploration and early-development company Troilus has significantly expanded its land position through the acquisition of the Troilus North project, located north-east of the Val-d’Or mining district.

The Toronto-based company is focused on restarting the former Troilus mine, which Inmet Mining operated as an openpit between 1997 and 2010, producing more than two-million ounces of gold and almost 70 000 t of copper.

TSX-listed Troilus will acquire the Troilus North project from Emgold Mining for 3.75-million shares and C$250 000 in cash. The cash component will absolve a bridge loan previously advanced. Continue Reading →

CAQ’s credibility on environment tested by proposed mine near pristine Abitibi water source – by Jonathan Montpetit (CBC News Montreal – November 25, 2018)

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

The 500 residents of La Motte, Que., don’t have have a gas station or even a convenience store, but they do enjoy some of the best-tasting drinking water in North America. So when an Australian mining firm began seeking approval to build an open-air lithium mine just a stone’s throw from the community’s water source, reactions were decidedly mixed in the town, located 50 kilometres northwest of Val-d’Or.

Some were eager for the 132 jobs the company, Sayona, is promising to create. La Motte’s town council unanimously passed a motion in July endorsing the project. Others, though, are concerned about the proposed mine’s proximity to the Saint-Mathieu-Lac-Berry esker, the 8,000-year-old ridge of stratified sand and gravel that naturally filters rain and snow in the Abitibi-Témiscamingue region of northern Quebec.

Residents have struggled to get answers about the environmental risks of a project that would rip a hole — 1,000 metres long, 600 metres wide and 200 metres deep — into the terrain. Continue Reading →

Supreme Court to hear latest challenge in dispute between Innu and Rio Tinto (Canadian Press/CBC News – November 15, 2018)

https://www.cbc.ca/news/canada/newfoundland-labrador/

Innu launched the lawsuit in 2013, seeking $900 million in compensation

The Supreme Court of Canada says it will hear an appeal over jurisdiction in the latest stage of a long-running effort by Innu First Nations to sue mining giant Rio Tinto.

The government of Newfoundland and Labrador launched the appeal after Quebec’s highest court ruled that the Innu of Uashat and of Mani-Utenam and others could sue the company and its Iron Ore Co. of Canada subsidiary through Quebec courts.

The attorney general of Newfoundland and Labrador has argued that Quebec courts are without jurisdiction in the matter because the mining operations are in Labrador. Continue Reading →

Plan Nord bears fruit: Provincial initiative has been a key support for new Quebec projects – by D’Arcy Jenish (Canadian Mining Journal – October 2018)

http://www.canadianminingjournal.com/

In December 2014, financially strapped Cliffs Natural Resources announced the closure of its Bloom Lake iron mine – putting some 600 miners out of work and casting a dark cloud over the nearby town of Fermont, Que, located near the Quebec-Labrador border some 400 km north of Sept-Iles.

But one year later, the town’s fortunes took a turn for the better. Quebec Iron Ore (QIO), a subsidiary of Montreal-based Champion Iron, bought the mine, a railway spur line and dozens of mineral claims for the rock bottom price of $10.5 million.

By February of this year, QIO put Bloom Lake back into production – and 450 miners back to work – thanks in no small part to direct and indirect support from the Quebec government under its Plan Nord initiative. Continue Reading →

‘Winter is coming’: Labour dispute at aluminum smelter drags into 10th month as industry outlook darkens – by Gabriel Freidman (Financial Post – October 25, 2018)

https://business.financialpost.com/

For the 1,000 workers locked out almost a year ago, tariffs and trade wars are making the future even more uncertain

Snowflakes fell early Wednesday morning along the shores of the St. Lawrence River in Bécancour, Quebec, where Jennie Vallé-Boucher is one of about 1,000 workers from an aluminum smelter, who is preparing to spend a second winter on the picket line.

In January, Alcoa Corp., which owns 70 per cent and operates the Bécancour smelter, locked out its unionized workers in a labour dispute that continues to boil over even as a cloud of uncertainty has settled over Canada’s aluminum industry.

One thing is clear, however: If and when the lock out ends, market conditions are unlikely to be the same as when it started. In the nearly 10 months that have passed since the dispute erupted, the U.S. enacted 10 per cent tariffs on aluminum imports, which remain in place despite negotiating a new trade agreement with Canada and Mexico. Continue Reading →

The End of a Once Mighty, Still Deadly Industry: the Canada Letter – by Ian Austen (New York Times – October 19, 2018)

https://www.nytimes.com/

Canada’s positions on issues like same-sex marriage, immigration and, most recently, recreational marijuana have given it a reputation for progressiveness. But the government’s announcement this week that it was banning asbestos, a potent cause of cancer, came decades after many other nations took the step.

For more than a century, asbestos was a ubiquitous miracle fiber. Sprayed on the steel structure of buildings and inside ships, it suppressed fires. It was found in a type of home insulation and in roofing tiles, and was used to seal heating ducts.

Asbestos was mixed with concrete to make pipes, woven into flameproof fabrics, and made into gaskets, building supplies and a variety of industrial goods. But inhaling even small quantities of its fibers could be deadly. Continue Reading →

Canada’s ban on asbestos to take effect but mining residues are exempt – by Mia Rabson (Financial Post – October 17, 2018)

https://business.financialpost.com/

CANADIAN PRESS – OTTAWA — Canada’s new asbestos ban will not prevent companies in Quebec from sifting through the waste left over from decades of mining asbestos to look for magnesium.

Environment Minister Catherine McKenna is set to announce the new regulations on Thursday in Ottawa after cabinet gave the nod of approval to them at the end of September.

The regulations, which will take effect at the end of the year, bar the import, sale or use of processed asbestos fibres and products containing them, as well as consumer products that have more than trace amounts of asbestos. They also forbid the manufacture of products using processed asbestos fibres. Continue Reading →

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 →