Archive | Timmins

Rob McEwen shares investment strategies at the Global Mining Symposium – by Trish Saywell (Northern Miner – November 11, 2020)

Global mining news

The Northern Miner’s Global Mining Symposium this week featured an interview with Canadian mining entrepreneur Rob McEwen, chief owner and chairman of McEwen Mining (TSX: ; NYSE: MUX).

The legendary investor, perhaps best known for transforming Goldcorp into a global powerhouse and revitalizing the Red Lake gold mine in Ontario, shared his philosophy on everything from how to pick the right companies in which to invest to how unprecedented government spending around the world is creating the next bull market for gold.

“I am convinced that the price of gold is going much higher and owning gold bullion is the safest way for me to protect my capital and the best way to make large capital gains is investing in distressed and overlooked explorers and turnaround situations,” he told Anthony Vaccaro, the Northern Miner’s publisher, during the online conference. Continue Reading →

Nickel explorer seeks to bring new life to two former Timmins mines – by Staff (Northern Ontario Business – November 3, 2020)

https://www.northernontariobusiness.com/

Class 1 Nickel posts a two-million-tonne-plus resource at Alexo-Dundonald Project

A new nickel sulphide player has fully emerged in the Timmins camp seeking to revive a well-known piece of mining ground.

Class 1 Nickel and Technologies released a very promising new mineral resource estimate for its Alexo-Dundonald Nickel Project, 45 kilometres northeast of the city.

The Toronto-based company reported an updated estimated indicated mineral resource of 1.25 million tonnes with an average grade of 0.99 per cent of nickel, and a total estimated inferred mineral resource of 1.01 million tonnes with an average grade of 1.08 per cent. Continue Reading →

Canada Nickel CEO sees “multi-decade resource base” near Timmins – by Ian Ross – October 22, 2020)

https://www.northernontariobusiness.com/

New discovery, high grades at Crawford Project spur hope of a call from Elon Musk

Canada Nickel Company has made a new discovery on an already blossoming Timmins-area exploration property that’s being studied for an open-pit mine.

In talking about the Crawford Project’s open-ended potential, company chair and CEO Mark Selby said in an Oct. 22 web call to investors that they’re “just getting started” in unlocking the value of this project, and their other prospective properties, north of the city.

The Toronto junior miner released an updated mineral calculation, and its high-grade values, on Crawford’s Main Zone on Wednesday. It places the property into the world’s top 10 list of nickel sulphide projects, not including the strides they’ve made with recent discoveries to the east and west. Continue Reading →

Gold mining industry in Ontario during Q2 2020 – by Vladimir Basov (Kitco News – October 21, 2020)

https://www.kitco.com/

Gold production in Ontario in Q2 2020 declined by 17% over Q2 2019 due to suspensions related to COVID-19 crisis. Detour Lake was the largest gold mine in Ontario.

Ontario is the largest gold-producing Canadian province or territory. According to the Ontario Mining Association, the region produced 73,733 kilograms of gold in 2019, which equates to 2,371 thousand troy ounces of gold, or 42% of total gold produced in Canada.

Based on available quarterly corporate reports, Ontario produced 528 kozt of gold in Q2 2020 from primary gold mines and as a by-product of base metals and platinum group metals operations. This significant 17% decline over the corresponding period of 2019 (638 kozt) was primarily caused by suspensions related to COVID-19 crisis. Continue Reading →

Exploration group says Timmins could become new nickel mining capital of Ontario (CBC News Sudbury – September 23, 2020)

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

There could be a bright future in nickel for the city that has been known for its heart of gold.

Exploration company Canada Nickel is developing its Crawford Nickel Cobalt Sulphide Project, a significant nickel deposit north of Timmins, and officials with the company say they’re committed to extracting and processing the mineral in an environmentally-friendly way.

A subsidiary called NetZero Metals, will be researching ways to start a processing facility that would produce zero-carbon nickel, cobalt and iron. Mark Selby, Canada Nickel’s CEO, said he’s optimistic about Timmins’ future. Continue Reading →

EU deal could forge shiny future for Canada’s low-carbon metals – by Chris Turner (Corporate Knights – September 16, 2020)

https://www.corporateknights.com/

he Canada Nickel Company is a fledgling Ontario mining firm with a handful of leases in mineral-rich northern Ontario and ambitious plans to dig for nickel, cobalt and iron.

So it represents a particularly audacious move that the company recently announced the creation of a wholly owned subsidiary called NetZero Metals, charged with the task of mining those metals without a carbon footprint.

Green boasts can be a little suspect, especially since the net-zero goal is one that established players in industries like steel and oil have placed at the far end of a 30-year ramp. Continue Reading →

Timmins mine developer heeds Elon Musk’s call – by Staff (Northern Ontario Business – July 27, 2020)

https://www.northernontariobusiness.com/

Elon Musk’s plea for mining companies to “mine more nickel” had an apparent effect on Canada Nickel Company.

The Toronto-based exploration company is pitching its future mine project, north of Timmins, as a zero-emissions operation.

The Silicon Valley tech entrepreneur and electric vehicle maker promised a whopper of a Tesla contract for those producers that mine nickel “efficiently and in an environmentally sensitive way” as lithium-ion battery demand starts to pick up. Continue Reading →

Canada Nickel aims for zero-carbon emissions at Crawford nickel project – by Trish Saywell (Northern Miner – July 27, 2020)

Global mining news

On Tesla’s second quarter conference call last week, Elon Musk entreated the industry to: “Please mine more nickel – Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.”

Musk’s comments couldn’t have come at a better time for Mark Selby, president and CEO of Canada Nickel (TSXV: CNC), which owns 100% of the Crawford nickel-cobalt sulphide deposit in Ontario.

The company has announced that it is setting up NetZero Metals, a wholly-owned subsidiary that will use existing technologies to produce zero-carbon nickel, cobalt, and iron products. Continue Reading →

Timmins could be hosting a monster nickel deposit – by Ian Ross (Northern Ontario Business – July 14, 2020)

https://www.northernontariobusiness.com/

Poised for a nickel rush, Canada Nickel is confident its Crawford nickel-cobalt sulphide project could be a global-scale producer

Does nickel in Timmins have the glamour of gold? There have been significant nickel finds in the rock formations around the famed northeastern Ontario mining camp but the production results always fell short of expectations.

Canada Nickel Company’s Crawford nickel-cobalt sulphide project could quickly be changing that narrative.

Helmed by one of the world’s foremost nickel experts, company chair and CEO Mark Selby believes the 4,900-hectare property, 40 kilometres north of Timmins, has the potential to be a world-class, district-scale deposit. Continue Reading →

Over a century of giving: How a pharmacist turned mining speculator became Santa Claus for hundreds of Timmins children – by Tijana Mitrovic (CIM Magazine – June 29, 2020)

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

For over a hundred years, the children of Timmins’ Schumacher neighbourhood have received a little something under their Christmas trees from a special benefactor, a mining entrepreneur named Frederick W. Schumacher.

Schumacher, a Danish immigrant, was working as a pharmacist and patent medicine wholesaler in Waco, Texas, in the late 19th century when he ordered a full train-car of Peruna medicine, meant to cure excessive congestion known as catarrh.

When Dr. Samuel Hartman, the high-society doctor of Columbus, Ohio, who invented Peruna, heard the size of the order, Hartman decided to personally deliver the shipment to Texas. Upon meeting Schumacher, Hartman asked Schumacher to come to Ohio and work for him. Continue Reading →

How Gold Thieves Get Away With Millions – by Don Delaplante (MACLEAN”S Magazine – July 15, 1950)

https://archive.macleans.ca/

The high-grading racket has its roots deep in the rich mines of northern Canada. The payoff is sometimes in New York, or even Morocco, at the end of a trail of graft, hijacking and murder

ON JUNE 2 thieves blew the vault at the Delnite mine in Ontario’s famous Porcupine camp and carted off three newly poured gold bars worth $74,000. It was the biggest single robbery in Canadian mining history. And it was pulled off in spite of rumors of the coup which had been rampant for six weeks.

No single incident could more strikingly underline the great high-grading racket. The theft and smuggling of high-grade ore and gold cost Canadian mines more than $2 millions each year. It is bizarre, spectacular, cunning thievery marked by graft, hijacking and calculated murder. Its practitioners are masters of the double-cross; news of newly planned thefts often leaks out beforehand.

Its ramifications are international. Stolen Canadian gold usually winds up in the free world market in Paris or is sold privately in Central Europe or the Middle East at $40 an ounce. Three years ago (before Russia flooded the market) the price hit $100. Continue Reading →

Kirkland Lake Gold invests in Melkior Resources – by Carl A. Williams (Northern Miner – May 21, 2020) https://www.northernminer.com/

Global mining news

Kirkland Lake Gold (TSX: KL; NYSE: KL) has struck a strategic partnership with Melkior Resources (TSXV: MKR), which is advancing its flagship Carscallen gold project in the Timmins gold camp of Ontario.

The Toronto-based gold miner, whose high-grade mines in Canada and Australia produced 974,615 oz. of the precious metal last year, is investing $1 million in a non-brokered private placement for up to 1.25 million units of Melkior at 80¢ per unit, giving it a 9.9% stake in the junior on a fully-dilutive basis.

“We are extremely proud to announce this landmark equity investment and potential joint-venture agreement with one of the world’s most respected gold mining companies,” Jonathon Deluce, CEO of Melkior Resources, said in a May 20 press release. Continue Reading →

Canada Nickel’s Mark Selby sees Dumont-style deposit at Crawford – by Trish Saywell (Northern Miner – April 22, 2020)

Global mining news

Mark Selby led a team that raised over $100 million and advanced the Dumont nickel-cobalt project in Quebec from an initial resource to a fully permitted, construction-ready project for RNC Minerals (TSX: RNX).

Now the mining executive believes he’s onto the next big nickel project in Canada with Crawford – a large tonnage nickel-cobalt sulphide discovery, 20 km north of Glencore’s enormous Kidd Creek base metal mine in Ontario’s Timmins camp.

The chairman and CEO of Canada Nickel Company (TSXV: CNC) says there are similarities between Crawford and RNC Minerals’ Dumont project – one of the world’s largest undeveloped nickel sulphide deposits containing about 6.1 billion lb. nickel in proven and probable reserves. Continue Reading →

Lake Shore Gold injects cash into Timmins food programs, hospital – by Staff (Northern Ontario Business – April 7, 2020)

https://www.northernontariobusiness.com/

Lake Shore Gold is showing its support for food programs and frontline workers in the Timmins area.

On April 6, the mining company announced it’s donating $50,000 for meal and food programs, and thanked the Cochrane District Social Services Administration Board (CDSSAB), as well as the Timmins and South Porcupine food banks for their hard work.

Lake Shore Gold, a subsidiary of Pan American Silver, is also donating $10,000 to the Timmins and District Hospital Foundation to help with logistics for COVID-19. Continue Reading →

Chris Stewart out as McEwen Mining president – by Staff (Northern Ontario Business – March 18, 2020)

https://www.northernontariobusiness.com/

Chris Stewart is no longer president and chief operating officer of McEwen Mining. In a two-sentence news release, the Toronto-based gold miner with operations near Timmins made the announcement late on March 18.

The company gave no reason for his departure, adding only that his responsibilities are being spread out among the management team.

The move came just two days after the mid-tier miner posted its fourth quarter and year-end results showing its three mines in Timmins, Argentina and Nevada generated a cash gross profit of $33.7 million for 2019 and a gross profit of $9.0 million. Continue Reading →