Still to file

http://www.resourcegovernanceindex.org/

New index shows promise in some developing countries, but raises alarms over sovereign wealth funds and citizens’ freedom to hold governments to account

LONDON, 28 June 2017—The majority of governments inadequately govern their oil, gas and mining sectors, according to the 2017 Resource Governance Index. Sixty-six countries were found to be weak, poor or failing in their governance of extractive industries. Less than 20 percent of the 81 countries assessed achieved good or satisfactory overall ratings.

The cross-country study of extractives governance, released today by the Natural Resource Governance Institute (NRGI), is the most comprehensive of its kind to date. It is based on new research into how countries’ governance affects their potential to realize value and manage revenues from their resources. It also incorporates existing assessments of countries’ “enabling environments”—a measure of how well citizens can access and use information, freely work together to voice their concerns and hold their governments to account, and of the quality of institutions in the areas of administration, rule of law and corruption control.

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http://www.reuters.com/

LONDON – Stock market flotations of smaller mining and metals companies are set to pick up this year, although a return to the flood of deals five or six years ago remains unlikely while investors rebuild their bruised confidence in the sector.

A continued rally in metals prices is galvanizing some firms into raising capital on exchanges across the world to fund exploration and plow cash into existing projects, with others also preparing initial public offerings.

But with investors’ memories fresh of a bloodbath in mining stocks in 2015, the firms’ ambitions are modest: they are joining small-capital indexes or listing on junior markets in deals typically worth $10 million or less – far from Glencore’s $10 billion flotation in 2011 when commodities were booming.

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http://www.miningnorth.com/

Tom Hoefer is the Executive Director, NWT & Nunavut Chamber of Mines.

This year marks the 25th anniversary of the discovery of diamonds in Canada, in our own Northwest Territories, and what progress we have made!

All too often it seems we are so busy focused on the task at hand that we forget to celebrate our successes. Twenty-five years of diamonds marks a good time to measure our progress. It’s also a good time to ask ourselves, where would we be had there never been a diamond rush? And what can we all do to ensure future generations have similar opportunity to benefit from our abundant resources?

I was reminded of this when the Honourable Navdeep Singh Bains, Canada’s Minister of Science, Innovation & Economic Development, recently visited Yellowknife. He stressed three themes:

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info@mininghalloffame.ca

TORONTO, March 21, 2016 — Due to overwhelming demand, the next group of inductees into the Canadian Mining Hall of Fame will be celebrated at a new venue for the first time in 29 years. On January 12, 2017, the Mining Hall of Fame’s Annual awards evening will officially move to the Metro Toronto Convention Centre.

Established in 1988, the Mining Hall of Fame (CMHF) hosts the seminal annual event for the industry, attracting attendees from across the country and around the globe. “This is an exciting time for the Canadian Mining Hall of Fame and a new venue will provide us with a tremendous opportunity to respond to the intense demand for increased capacity,” says Patricia Dillon, Mining Hall of Fame chairperson.

The transition to the Metro Toronto Convention Centre was a significant decision, and one not taken lightly by the board of directors. “Obviously there is substantial history attached to the original venue; however, we felt this was the best way to honour inductees and serve the attendees,” says Dillon.

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http://investorintel.com/

The “death throes” of the once vaunted Commodities Supercycle have been dragging on now since 2011 and are starting to look like the much derided “death scene” in the original Brideshead Revisited in which Sir Laurence Olivier took seemingly forever to depart the mortal coil.

Like the Supercycle, that scene had an inevitability about it and eventually the viewers were anxious for it all to be over.

Those amongst us who believed the Supercycle was immortal have now been brought down to earth because all good things must end… but maybe it’s a truism that all bad things must end too… so in the wake of the Supercycle’s demise (and there are a few hardies out there who sustain it will rise from its grave) we now should accept matters and look beyond.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, ONTARIO–(Marketwired – Nov. 16, 2015) – Kirkland Lake Gold Inc. (“Kirkland Lake” ) (TSX:KGI) and St Andrew Goldfields Ltd. (“St Andrew”) (TSX:SAS)(OTCQX:STADF) are pleased to announce that they have entered into a binding definitive agreement (the “Agreement”) whereby Kirkland Lake will acquire all of the outstanding common shares of St Andrew pursuant to a plan of arrangement (the “Transaction”) to create a multi-asset, Ontario-focused, intermediate gold producer.

Under the terms of the Agreement, common shareholders of St Andrew will receive 0.0906 of one common share of Kirkland Lake (the “Exchange Ratio”) for each St Andrew common share held. The Exchange Ratio represents the equivalent of C$0.47 per St Andrew common share, based on the closing price of Kirkland Lake on November 16, 2015. The Exchange Ratio implies a 46% premium based on both companies’ 20-day volume-weighted average prices and a 25% premium to St Andrew’s closing price, both as at November 16, 2015 on the Toronto Stock Exchange. The Exchange Ratio implies a total equity value of approximately C$178 million on a fully diluted in-the-money basis.

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http://www.reuters.com/

TORONTO/LONDON – First Quantum Minerals has retained Jefferies to explore a sale of its two nickel mines as the Canadian base metal miner looks to trim debt levels and double down on its bets in copper, three sources familiar with the matter said

The sources, who declined to be named as details of the plan are not public, said the move to sell the assets would help the company achieve its goal of reducing its debt levels by over $1 billion.

A spokeswoman for First Quantum declined to comment on the plan. A spokeswoman for Jefferies was not immediately reachable.

Two of the sources said the assets on the block are Kevitsa, a nickel-copper-platinum mine in Finland and Ravensthorpe, a nickel mine located in Western Australia that the company bought back in 2010.

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www.excellonresources.com

TORONTO, ON–(Marketwired – June 03, 2015) – Excellon Resources Inc. (TSX: EXN)(OTC: EXLLF) (“Excellon” or the “Company”), reports with sadness that Peter A. Crossgrove, CPG, O.C., Chairman of the Board of Directors, passed away yesterday afternoon.

“Today we mourn the passing of a great figure in Canadian mining,” commented Brendan Cahill, President and Chief Executive Officer. “He was an entrepreneur who experienced success in many industries worldwide. He was a connector of people and ideas who asked for nothing in return. He was selfless in his work and fundraising for charitable causes. He was an exceptional mentor, for so many as well as myself. Our deepest condolences go to Peter’s family and all of the people he touched over the years.”

Peter Crossgrove served as a Director of Excellon since 2005 and was Chairman of the Board since 2008. He had been in the mining industry for almost his entire career and most recently sat on various boards of directors including, Detour Gold, Lake Shore Gold, Pelangio Exploration, Dundee REIT and Dundee Industrial REIT. He previously served on the Board of Barrick Gold for 22 years; was CEO and Vice Chairman of Placer Dome; and was a founder of Masonite International.

Peter was the recipient of the Order of Canada, Order of Ontario, The Upper Canada Medal, Queens Golden Jubilee Medal and Queens Diamond Jubilee Medal.

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http://www.ejinsight.com/

Indian steel mills plan to invest 2.94 trillion rupees (US$46.13 billion) in the next 10 years to expand production capacity.

The target is 300 million tons of production capacity by 2025, the Wall Street Journal reported Tuesday, citing Steel and Mines Minister Narendra Singh Tomar.

Falling demand from China has resulted in a global oversupply but India is planning for the longer term, Tomar said.

He expects considerable homegrown demand as the government adds infrastructure such as roads, ports, housing and real estate for which steel will be a key component.

India, the world’s third largest steel producer by volume, has been struggling to add new capacity in recent years, mainly because of delays in securing environmental approvals and opposition by farmers who refuse to make way for plant construction.

In 2013, ArcelorMittal, the world’s largest steelmaker, scrapped plans to build a plant in the eastern Indian state of Orissa, citing delays in acquiring land.

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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.

Canada’s Eldorado Gold Corp., the biggest foreign investor in Greece, is engaged in a tax-avoidance scheme that uses mailbox companies in the Netherlands to lower its tax load, a new report from a Dutch foundation says.

The Centre for Research on Multinational Corporations, known as SOMO, made the claim in a detailed 116-page report called Fool’s Gold, which was released in Amsterdam Monday and will be presented Wednesday in Athens at a panel discussion featuring Norway’s Eva Joly, a member of the Green Party in the European Parliament.

The report claims the scheme has cost the Greek government at least €1.7-million ($2.3-million) in revenue in the past two years.

The timing of the report was apparently no accident. It came as Eldorado fights hard to keep its Greek mining operations going in the face of threats from Greece’s new radical left Syriza government to shut down or curtail them over environmental concerns. It also came a month after the European Parliament’s committee on tax rulings revealed it is examining allegations that some European Union countries are using special tax regimes or deals to favour large companies.

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