How a rare earth facility in Canada wants to clean up the dirty side of green energy – by John Lorinc (Corporate Knights – January 30, 2024)

https://www.corporateknights.com/

The plant in Saskatchewan won’t just showcase less environmentally damaging processes. It also wants to take a bite out of a supply chain dominated by China.

At some point this year, in an unprepossessing 120,000-square-foot box on the outskirts of Saskatoon, Saskatchewan, technicians will flip the switch in a plant that promises to do something no one else is doing in North America at the moment: transform minerals containing “rare earth elements” (REE) into specialized metal alloys that can be used to make the kinds of “permanent magnets” found in smartphones, hard drives, wind turbines and electric vehicle motors.

The $70-million-plus project run by the Saskatchewan Research Council (SRC) – will be chockablock with cutting-edge mineral-processing technology, including systems that promise to recycle the water and chemicals used in the plant.

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Mining to resume at McClean Lake (World Nuclear News – January 25, 2024)

https://www.world-nuclear-news.org/

More than 15 years after mining was suspended at McClean Lake in Saskatchewan, joint venture partners Orano Canada Inc and Denison Mines Corp have announced that production is to restart using the patented Surface Access Borehole Resource Extraction (SABRE) mining method.

The companies intend to begin mining at the McClean North deposit in 2025, targeting production of 800,000 pounds U3O8 (308 tU, 100% basis) in 2025. Around 3 million pounds U3O8 (100% basis) has been identified for potential additional production from a combination of the McClean North and Caribou deposits from 2026 to 2030.

SABRE is a non-entry, surface-based mining method that uses a high-pressure water jet placed at the bottom of a drill hole to excavate a mining cavity. The cuttings from the excavation process are then air lifted to the surface, separated and stockpiled.

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World’s biggest uranium miner warns of shortfall just as nuclear demand takes off – by Mark Burton (Financial Post/Bloomberg – January 12, 2024)

https://financialpost.com/

The setback adds to a list of supply challenges that have helped to catapult spot uranium prices to 15-year highs

Kazatomprom, the world’s biggest uranium miner, warned that it’s likely to fall short of its production targets over the next two years, adding another risk to supply as demand for the nuclear fuel rebounds.

The London-listed company, which is controlled by Kazakhstan’s government via its sovereign wealth fund, said on Friday that shortages of sulfuric acid and construction delays at newly developed deposits are creating production challenges that could persist into 2025. It will outline the likely impact on output in a trading update by Feb. 1, it said.

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Sask. government approval brings new biggest uranium project in Canada closer to reality – by Pratyush Dayal (CBC News Saskatoon – November 28, 2023)

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

Mine will produce more than 23 per cent world’s uranium production once running, says NexGen Energy

Saskatchewan is moving closer to being the location of the new biggest uranium mining project in Canada. On Nov. 8, Canadian company NexGen Energy Ltd. received ministerial approval under the Environmental Assessment Act of Saskatchewan to proceed with the development of the Rook I Project, slated to be located 130 kilometres north of La Loche, Sask. It still requires federal approval.

NexGen is the first company in more than 20 years to receive full provincial environmental assessment approval for a greenfield uranium project in Saskatchewan.

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Canadian critical minerals miner Foran raising $200-million, a rare financing for a junior company – by Tim Kiladze (Globe and Mail – November 28, 2023)

https://www.theglobeandmail.com/

Foran Mining Corp., a Canadian company with a promising copper and zinc project in Saskatchewan, is raising $200-million to fund its next stage of development, a rare financing for a junior miner in a tough market for share sales.

Foran, which is based in British Columbia, is selling up to $190-million worth of new shares at $4.10 apiece through a private placement, as well as $10-million worth of “flow-through” shares that carry a special tax treatment.

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BHP looks to take potash plant nuclear – by Matthew Cranston (Australian Financial Review – November 26, 2023)

https://www.afr.com/

Washington | BHP is considering nuclear energy to power what will be the world’s biggest potash mine in Saskatchewan, Canada, in a move that would help the Australian mining giant achieve its net-zero emissions target by 2050.

A decision to pursue nuclear generation in a country where it has long been part of the energy mix raises further questions about Australia’s own interest in the clean but controversial energy alternative.

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Massive potash mine being built in Saskatchewan breaks new ground for women – by Amanda Stephenson (Canadian Press/Toronto Star – November 19, 2023)

https://www.thestar.com/

BHP’s Sask. mine breaking new ground for women

In July of this year, mining giant BHP announced a company first. More than 14,000 kilometres away from its Melbourne, Australia headquarters, BHP said it had achieved its “gender balance” target for its local workforce in Saskatchewan.

With women making up more than 43 per cent of the company’s workforce at its Jansen potash mine project as well as its Saskatoon corporate office, the province became the first BHP location in the world to reach a goal set back in 2016.

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Proposed northern Sask. uranium mine, mill one step closer to becoming reality – by Cole Davenport (CTV News Saskatoon – November 10, 2023)

https://saskatoon.ctvnews.ca/

A major uranium project in northwestern Saskatchewan has cleared a significant regulatory hurdle. NexGen Energy said Thursday that its proposed uranium mine and mill to be built on the Athabasca Basin north of La Loche known as “Rook I” was granted full approval after an environmental assessment carried out by provincial officials.

“Throughout the rigorous [environmental assessment] process, the Government of Saskatchewan recognized the unparalleled value and future opportunities the Rook I Project will provide for local communities, Saskatchewan, and Canada,” NexGen CEO Leigh Curyer said in a release.

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Sask. faces shortage of 5,000 skilled mining workers by 2030, report says – by Jason Warick (CBC News Saskatoon – November 2, 2023)

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

Companies, governments, others must do more to train, recruit, retain workers: expert

Saskatchewan needs to train or recruit thousands of new skilled workers in the mining industry if it wants to realize its economic potential, according to a new report from consulting firm Deloitte. “Saskatchewan is one of the most significant mining jurisdictions in the world,” said Deloitte’s managing energy partner Andrew Swart.

“Solving this [shortage] is multifaceted. We need to take a new look at how we look at skills development.” Swart and others discussed the shortage at a conference in Saskatoon this week. He said job vacancies for skilled mining positions have grown by more than 130 per cent in the past four years.

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Sask. town located near massive mining project readies for ‘influx of people’ – by Keenan Sorokan (CTV News Saskatoon – November 1, 2023)

https://saskatoon.ctvnews.ca/

BHP’s nearly $19 billion potash mine near Jansen is getting resounding approval from Lanigan mayor Tony Mycock. Lanigan, which is about a 15-minute drive from the mine site, is expected to benefit from the economic boon for the province and the local area after BHP announced plans for a $6.4 billion stage two expansion at the site Tuesday.

“It was pretty exciting,” he said. “They’ve been talking about it for a while and I didn’t expect it to happen this quick. “It’s very exciting for our community, the surrounding area and I mean, the province as a whole. This is a huge investment in Saskatchewan.”

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‘All those mouths need to be fed:’ BHP CEO aims to dominate potash globally through Canada – by Naimul Karim (Financial Post – October 21, 2023)

https://financialpost.com/

Mike Henry discusses the rationale behind BHP’s potash investment and how it intends to compete with the world’s largest potash producer

The world’s biggest miner BHP Group Ltd. is aiming to enter Canada’s potash industry in a big way when it starts producing the commodity in 2026 in Saskatchewan. The Jansen potash project is one of its biggest capital investments and while prices of the commodity have taken a hit in recent times, the miner is confident the expenditure will be worth it in the long run.

BHP’s chief executive Mike Henry was born in Canada and studied at the University of British Columbia. He left for Australia in 1999 to work for the Melbourne-based company and gradually rose up the ranks to become head of it in 2020.

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BHP chief calls Canada ‘really attractive’ market as he hopes to invest beyond potash – by Naimul Karim(Financial Post – October 18, 2023)

https://financialpost.com/

Mike Henry says political stability, abundant stores of critical minerals and talent make country a good place to invest

BHP Group Ltd. chief executive Mike Henry doesn’t shy away from trying new things. Just last week, he decided to take a leap of faith and went parachute jumping for the first time while visiting Montreal. “It was incredible,” he said.

Perhaps not so incredible, though, that the head of the world’s biggest miner will be making a hobby of it. Henry, a native of Vancouver, said he will be sticking with more relaxing pastimes to give his mind a rest from running a company with operations in more than 90 locations.

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NexGen Aims to Be Canadian Uranium Player – by Geoffrey Morgan and Jackie Edwards (Bloomberg News – October 19, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — Canada’s NexGen Energy Ltd. is looking to Australia’s equity market as it sets up financing for its first-ever uranium mine back home, a project with a $1 billion price tag.

That’s partly because its co-founder heralds from Down Under and the market has a depth of experience with mining stocks. But more important is Australia’s $2.2 trillion pensions industry, creating what NexGen’s Chief Commercial Officer Travis McPherson termed “unrelenting” demand for assets.

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BHP CEO says ‘ship has sailed’ on potential acquisition of Canada’s Nutrien – by Niall McGee (Globe and Mail – October 18, 2023)

https://www.theglobeandmail.com/

BHP Group Ltd. CEO Mike Henry is talking down the chances of acquiring Canadian fertilizer giant Nutrien Ltd., as the world’s biggest mining company concentrates on building its own potash business instead. In 2010, the giant Australian miner attempted to buy Potash Corp. of Saskatchewan, Nutrien’s predecessor company, but the deal was blocked by the federal Conservative government as not being of net benefit to Canadians.

BHP held talks with Nutrien in 2021 around a possible joint venture on its Jansen potash project in Saskatchewan. However, discussions between the two companies eventually fizzled. BHP elected instead to go it alone on the $7.5-billion project, the most expensive the company has ever undertaken.

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Cameco shares surge on uranium prices as governments warm to nuclear power – by Niall McGee (Globe and Mail – September 19, 2023)

https://www.theglobeandmail.com/

With its one-time pariah commodity back in vogue, one of Canada’s biggest mining companies is reaching valuations not seen in more than 15 years.

Cameco Corp.is benefiting from a resurgence in uranium, as nuclear power is increasingly embraced by countries looking for ways to cut carbon emissions and supply concerns arise. On Monday, the company’s shares closed at $54.54 on the Toronto Stock Exchange, about $5 below their all-time high in 2007.

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