United States Mining – Page 105

History buffs dig into mining – by Ralph Nardone (Times Leader – January 17, 2015)

January 19, 2015

http://www.timesleader.com/ [Wilkes-Barre, Pennsylvania]

Knox Mine program kicks off week devoted to industry

SCRANTON — A tribute to the victims of the Knox Mine Disaster near Pittston kicked off the 16th annual Mining History Week on Saturday at the Anthracite Heritage Museum. Events sponsored by local colleges and historical groups will take place this week in Wilkes-Barre, Scranton, Pittston, Port Griffith and Ashley.

The Knox disaster happened on Jan. 22, 1959, when the Susquehanna River broke through the roof of the River Slope Mine, allowing 10 million gallons of water and ice to rush into the mine. According to Explorepahistory.com, 74 miners were trapped by the rushing waters. Only 62 of them would escape, the bodies of the other 12 were never recovered.

On Saturday, experts on the disaster and folks who were there gathered to discuss its historical significance, to honor those who died and to pay tribute to the professional journalists who documented what happened.

“They were true educators,” said Kings’ College Professor Robert Wolensky, who has authored books on the disaster. “We know what happened that day thanks to their work.”

Alcoa Profit Tops Estimates as Autos Drive Aluminum Use – by Liezel Hill (Bloomberg News – January 12, 2015)

January 13, 2015

http://www.bloomberg.com/

Alcoa Inc. (AA), the largest U.S. aluminum producer, posted better-than-expected fourth-quarter earnings and sales as orders from the auto and aerospace industries boosted demand for the lightweight metal.

Profit excluding one-time items was 33 cents a share, the New York-based company said today in a statement, exceeding the 27-cent average of 19 estimates compiled by Bloomberg. Sales rose 14 percent to $6.38 billion, compared with the $6.05 billion average estimate. The shares rose as much as 2.4 percent in extended trading.

Alcoa shipped a record volume of automotive aluminum sheet in the quarter. Auto companies such as Ford Motor Co., which started making its lightweight, aluminum-bodied F-150 pickup in November, are using more of the metal to boost fuel efficiency. Alcoa also predicted orders of commercial and regional jets will help boost aerospace sales by as much as 10 percent this year. It said overall global aluminum demand will rise 7 percent in 2015.

“Fundamentally Alcoa continues to improve and we would continue to be buyers,” Josh Sullivan, an analyst at Stern Agee & Leach Inc. who has a buy rating, said in a note today.

The company, the first in the Standard & Poor’s 500 Index to publish fourth-quarter earnings, reported after the close of trading.

Cliffs CEO warns Iron Range lawmakers over aid deal for Essar Steel – by John Myers (Duluth News Tribune – January 12, 2015)

January 13, 2015

http://www.duluthnewstribune.com/

The head of Cliffs Natural Resources met with Iron Range state lawmakers Monday evening in St. Paul, warning the state’s ongoing help for Essar Steel may impact his company’s operations in Minnesota.

In his first ever meeting with the Range delegation, Cliffs CEO Lourenco Goncalves told lawmakers that Essar’s entry into the U.S. taconite iron ore market may upset what has been a well-balanced supply-and-demand chain.

“It was a very friendly meeting. Not confrontational at all. But he made it clear that giving Essar Steel any additional state subsidy may have a detrimental impact on Cliffs down the road,’’ state Rep. Carly Melin, DFL-Hibbing, told the News Tribune.

Goncalves has headed the Cleveland-based company since August, after Cliffs’ previous management team was ousted in a hostile takeover by the New York hedge fund Casablanca Capital.

Cliffs says Essar will become a direct competitor for its taconite iron ore operations – including NorthShore Mining, United Taconite and Hibbing Taconite in Minnesota. Cliffs has some 1,850 employees at the three Minnesota plants, with a payroll of over $250 million annually.

Pebble Mine 2014 Year in Review: “And Then There Were Lawyers . . . .” – by Joel Reynolds (Huffington Post – January 5, 2015)

January 9, 2015

http://www.huffingtonpost.com/green/

Joel Reynolds Become is the Western Director and Senior attorney, NRDC, Los Angeles.

When someday the story of the Pebble Mine is told, 2014 may be best remembered as the year when all that remained of the once formidable Pebble Partnership was a bunch of lawyers for hire. By the end of 2014, all of the mining giants and their funding – Mitsubishi, Anglo American, and Rio Tinto – were gone, leaving only Northern Dynasty Minerals to keep the reckless vision of the Pebble Mine alive.

The Partnership’s new CEO is a lawyer from the Washington, D.C. law firm of Steptoe and Johnson, and mining activities have ground to a halt.

By the end of 2014, Pebble’s public face had become lawsuits and lobbying against EPA, targeting its authority to do what Alaskans had petitioned it to do – i.e., to protect Alaska’s wild salmon fishery. Three lawsuits had been filed against the agency, and legislation to constrain the agency’s review of the Pebble project had been introduced in both houses of Congress.

Once again, permit applications – promised by Pebble for years – were never filed.

Some of the highlights of 2014:

This Week in Range History: THE MESABI IRON COMPANY: TACONITE PIONEER – by Donald C. Wright (Home Town Focus – January 9, 2015)

January 9, 2015

http://www.hometownfocus.us/ Northern Minnesota

This week we’re sharing a story written by Eveleth native Donald C. Wright about the Mesabi Iron Company, predecessor to Reserve Mining Company in Babbitt. Although the Mesabi Iron Company operated the plant in Babbitt for only two years (1922 – 1924), they were taconite pioneers who “proved that high grade iron ore could be produced for America’s steel industry from hard, tough Minnesota taconite.”

Wright’s story was originally published in the June 1984 edition of Range History: The Mesabi Perspective, a quarterly publication of the Iron Range Historical Society, and is reprinted here with their permission. All of the photos published with the story here are also courtesy of the Iron Range Historical Society.

Thank you Iron Range Historical Society for sharing your stories of our history. Cindy Kujala HTF Staff Writer

About the time the American Civil War was coming to a close in Wilmer McLean’s parlor in Appomattox, Virginia, Michigan’s bright copper boom was fading and miners began to cast interested glances at the new state of Minnesota. Minnesota’s North Shore had been opened to settlement by terms of the Treaty of LaPointe with the Chippewa in 1855 and prospectors already were drifting in to investigate rumors of gold, silver and copper.

One of the new arrivals was a German immigrant named Christian Wieland who, with his four brothers, hacked out a settlement on the shore of Lake Superior and called it Beaver Bay.

Minnesota couple who canoed from Boundary Waters to nation’s capital ponder next adventures – by Steve Karnowski (The Associated Press/Winnipeg Free Press – January 5, 2015)

January 7, 2015

http://www.winnipegfreepress.com/

MINNEAPOLIS – Two experienced adventurers who paddled, portaged and sailed 2,000 miles from northern Minnesota to Washington, D.C., say they plan to keep up the fight in the new year to protect the Boundary Waters Canoe Area Wilderness from copper-nickel mining.

Amy and Dave Freeman set out Aug. 24 from Ely. They canoed 180 miles through the BWCA, then portaged to Lake Superior. They strapped their canoe to a sailboat for the next 600 miles to Lake Huron, then switched back to the canoe for the final 1,300 miles, travelling mostly by rivers and canals across parts of Canada and the eastern states. They reached the Potomac waterfront in Washington on Dec. 2 — 101 days after they set out.

The Freemans wanted to call attention to the threat they say copper-nickel mining poses to the Boundary Waters and to mark the 50th anniversary of the federal Wilderness Act, which protects pristine areas such as the BWCA. Their next plan is a bike ride across Minnesota in 2015 hauling another canoe to press their message.

But it won’t be the same signature-covered “petition canoe” they paddled to Washington. They gave that to the U.S. Forest Service, the agency that oversees the BWCA. Dave Freeman said the bike tour, which is being organized by the Ely-based group Save The Boundary Waters, will last about six weeks and a large group of people will participate for a week or two at a time.

“I think it’s going to be a lot of fun. We’re going to try and hit as many of the college campuses in Minnesota as possible,” he said.

NEWS RELEASE: Cliffs Natural Resources Inc. Concludes the Sale of Logan County Coal and Provides Update on Bloom Lake

January 6, 2015

CLEVELAND, Jan. 2, 2015 /PRNewswire/ — Cliffs Natural Resources Inc. (NYSE: CLF) is pleased to announce that it has completed the sale of its Logan County Coal assets in West Virginia to Coronado Coal II LLC, an affiliate of Coronado Coal LLC, for $174 million in cash and the assumption of certain liabilities. The expected tax benefit associated with the transaction will be between 20% to 25% of the previously disclosed pre-tax loss of approximately $400 million, which represents an additional benefit of $80 million to $100 million in future cash tax savings. Cliffs will record the results of this sale in its fourth quarter earnings.

Separately, Cliffs confirms that active production at Bloom Lake has completely ceased and the exit from Eastern Canada continued to be executed on schedule as previously announced. The mine has transitioned to care and maintenance status and, consequently, at this time only a small number of employees involved in such activities are still in the payroll. The last shipment of iron ore out of the Port of Sept-Iles will be completed in early January 2015.

Lourenco Goncalves , Cliffs’ Chairman, President and Chief Executive Officer said, “The execution of the strategic initiatives outlined during our Q3 Conference Call in October 2014 continued to progress as planned during the last two months. The sale of Logan County Coal, which included a meaningful tax benefit to the Company, clearly demonstrates our ability to execute complex transactions despite an adverse M&A environment for commodity related transactions. Additionally, as we approach the final steps of our exit from Eastern Canada, we have brought to an end the flawed expansion that has cost Cliffs and its shareholders billions of dollars.”

Iron-Ore Producer’s CEO Bets on the Midwest – by John W. Miller (Wall Street Journal – December 22, 2014)

January 6, 2015

http://online.wsj.com/home-page

Amid Falling Global Iron-Ore Prices, He Backs Captive Market

HIBBING, Minn.— Cliffs Natural Resources Inc. is banking on the Midwest, a forgotten niche in the global commodities market.

For more than a century, huge iron-ore reserves in this remote region have provided the raw material to make steel in blast furnaces that have populated the industrial heartland between Pittsburgh and Chicago.

Last year, Minnesota and Michigan produced 99% of all U.S. iron ore, shipping out $5 billion of steel’s main ingredient. Three-quarters of that ore went to American mills, which continue to make millions of tons of steel a year for car makers and gas drillers.

Cliffs, the biggest U.S. iron-ore producer, is more than 150 years old and still based in Cleveland. Its five iron-ore mines are the company’s top-performing unit, earning $461.7 million in gross profit in the first nine months of the year even as Cliffs booked an overall loss of $6 billion.

“This is what will save Cliffs,” says Chief Executive Lourenco Goncalves during a tour of the mineral-rich, windswept gray landscape, which once inspired native-son Bob Dylan to write “North Country Blues.”

Mr. Goncalves better be right. Cliffs’ share price has declined more than 70% in the past year. A boardroom coup, led by activist shareholder Casablanca Capital LP, resulted in Mr. Goncalves being named CEO in August to turn things around.

Obama signs mining land swap measures into law – by Dorothy Kosich (Mineweb.com – December 22, 2014)

December 22, 2014

http://www.mineweb.com/

Two copper projects in Arizona and Nevada will now advance to the next stage as the National Defense Authorization Act has now become law.

The NDAA includes land swaps that benefit the Resolution Copper Project in Arizona. Rio Tinto Copper’s CEO says the passage of the land exchange at Resolution will help it establish the full potential of the resource and provides a clear road map to commercial development.

President Barak Obama has signed the National Defense Authorization Act (NDAA) into law, which includes riders containing the largest public lands package since 2009, which includes land swaps that benefit the Resolution Copper Project in Arizona and the Pumpkin Hollow Copper Project in Nevada.

A joint venture of Rio Tinto and BHP Billiton allows for the exchange of 2,400 acres of federal land at Oak Flat around the deposit for 5,400 privately owned acres of land held by Resolution Copper including riparian habitat on the lower San Pedro River.

The high-value conservations land were identified through the input from the U.S. Forest Service, the Bureau of Land Management, the Audubon Society and others. The swap consolidates ownership of the land where the mine will be developed and operated.

Mining company says it’s committed to Superior’s success – by Emily Bregel (Arizona Daily Star – December 21, 2014)

December 22, 2014

http://tucson.com/

The mining company seeking to acquire a copper deposit just outside Superior wants to help the town prepare for life after the ore body is depleted and the mine shuts down.

“We want to help them be sustainable and self-sustaining,” said Vicky Peacey, Resolution Copper Mining’s senior manager for environment, permitting and community. She notes that the mine has contributed to the town’s efforts to revitalize and has supported the chamber of commerce, local schools and recreation groups. “It’s not just about mining. It’s about diversifying.”

Leaders in the mining town of Superior — who voted last year to revoke the town’s written support for the Resolution mine — agree with the company on that point, at least.

Town attorney Steve Cooper said Superior could become a tourist destination, based in part on the outdoor recreation and natural beauty surrounding the mining town.

“The area in and around Superior is beautiful,” he said, describing a plan to build a trail along Queen Creek from the Oak Flat campground to the Boyce Thompson Arboretum to the west. “We want to basically try to make the town a multi-business community, versus having a one-employer town.”

‘No hope for Harlan’: Deep in coal country, pondering future without it – by Allen G. Breed (The Associated Press – December 20, 2014)

December 22, 2014

http://www.middletownpress.com/

HARLAN, Ky. – The rest of the house is just waking as Scottie Sizemore plops down in a rocking chair on his front porch with a cup of coffee. The sun has yet to crest the ridge above, where mist clings like clouds that couldn’t quite make it over.

Sizemore is the fourth generation of his family to mine coal in Harlan County. He knows he’ll probably be the last.

For over a century, life in Central Appalachia has been largely defined by the ups and downs of the coal industry. Through all the bust years, there was always the promise of another boom. Until now.

There is a growing sense in these mountains that this downturn is different, deeper. That for a variety of reasons — economic, environmental, political — coal mining will not rebound this time.

State and federal initiatives are exploring everything from ecotourism and small farmer loans to regional tax incentives for job creators. Some here pray for a regulatory climate change that would breathe new life into the region’s mines. For Sizemore and his wife, Madonna, the answer is simple, if painful. They’re leaving.

Good environment, good jobs: We can have both – by Frank Ongaro (Mesabi Daily News – December 20, 2014)

December 22, 2014

http://www.virginiamn.com/

Frank Ongaro is executive director of Mining Minnesota, which is a group working with local citizens, businesses and other organizations to bring growth and job creation to the state through responsible development of natural resources.

But this simply isn’t a fair or accurate portrayal of the issues at hand. We are all environmentalists and we all enjoy the beauty and serenity of Minnesota’s wilderness. Our state has a lot to offer outdoor enthusiasts, and with a population above 3.5 million, there are many people who call Minnesota home who have an interest in protecting the outdoors for future generations.

A majority of these 3.5 million individuals also need jobs — jobs that support their families and provide opportunities for future generations of Minnesotans. Thankfully, we can have both — the environment and mining have coexisted for more than 130 years and with modern technologies, will continue to do so as we expand the state’s rich mining tradition.

Mining copper, nickel, platinum and palladium from one of the world’s largest, untapped source of these strategic metals in Minnesota’s Duluth Complex will provide thousands of high-quality jobs in a range of sectors, as well as the metals we all need for the growing green economy. Wind turbines and solar equipment require copper. Electric cars and rechargeable batteries use nickel and copper. The autocatalysts in cars require platinum and palladium.

Massive B.C. gold mine near Alaska border gets environmental approval – by Terri Theodore (Canadian Press/Vancouver Province – December 20, 2014)

December 22, 2014

http://www.theprovince.com/index.html

VANCOUVER — The federal government approved the environmental assessment application on Friday for the massive KSM gold and copper mine in northwestern British Columbia near the Alaska border.

The mine, which is owned by Seabridge Gold Inc. (TSX:SEA), is considered the largest undeveloped gold reserve in the world and also has copper, silver and molybdenum deposits.

The project would be just 35 kilometres from the Alaska border, and in August the state took the rare step of asking the Canadian government for involvement in the approval process over concerns for its rivers and fish.

But the Canadian Environmental Assessment Agency concluded in its report that the KSM project isn’t likely to cause significant adverse environmental effects.

Seabridge CEO Rudi Fronk said the company was confident it would receive the approval because it has spent six years and $200 million working with government, local First Nations and the state of Alaska. The company conducted 40 working group sessions with federal and provincial regulators, First Nations and American regulators, he said.

Will Cliffs Natural Resources Inc (CLF) Go Bankrupt? – by Troy Kuhn (Bidnessetc.com – December 19, 2014)

December 19, 2014

http://www.bidnessetc.com/

Cliffs Naturals Resources Inc stock has plunged over the last year, and its weak balance sheet points to a grim future

Cliffs Natural Resources Inc (NYSE:CLF) has had a miserable year.

The company has lost around three-quarters of its market capitalization, and Credit Suisse recently downgraded the iron miner’s price target to $1. Cliffs stock has been targeted by investors and traders as a prime candidate for a short sell, as falling iron-ore prices continue to take a toll on the miner’s earnings.

Cliffs generates 83.7% of its revenue from iron-ore sales, and iron-ore assets represent 85.8% of its overall assets. Cliffs has been in trouble for a couple of years now.

Casablanca Capital LLC recently won a proxy fight against Cliffs, which forced several changes to the miner’s board. Cliffs’ CEO and chairman Lourenco Goncalves took over the company’s management after the proxy fight.

Casablanca was of the view Cliffs should sell off its Bloom Lake mine, along with its US coal operations and Australian mines. In August, Mr. Goncalves announced a share repurchase program of $200 million, and sold a minority holding in a graphite mining company.

Despite rulemaking ban, US DOI will continue sage grouse fight – by Dorothy Kosich (Mineweb.com – December 18, 2014)

December 18, 2014

http://www.mineweb.com/

New Consolidated and Further Continuing Appropriations Act gives U.S. miners some breathing room from ESA and “Waters of the U.S.” designations.

RENO (MINEWEB) – After President Obama signed a $1.1 trillion omnibus bill into law, Interior Secretary Sally Jewell Wednesday attacked the rider that prohibits the U.S. Fish & Wildlife Service from writing and issuing rules related to the sage grouse, which could stymie new mining development and expansion of current mining operations in 11 Western states.

The rider for the Consolidated and Further Continuing Appropriations Act of 2015 imposes a one-year ban on new Endangered Species Act protection for the sage grouse. The rider was introduced by Rep. Mark Amodei, R-Nevada, and former president of the Nevada Mining Association, which includes a number of major U.S. gold mines within its membership.

Jewell declared, “It is disappointing that some members of Congress are more interested in political posturing than finding solutions to conserve the sagebrush landscape and the western way of life. Rather than helping the communities they profess to benefit, these members will only create uncertainty, encourage conflict and undermine the unprecedented progress that is happening through the West.”

“The consequence of this rider is that it prevents the Service from finalizing a rule that would provide certainty to landowners, giving them assurance that they can continue economic activities compatible with the conservation of the species, such as properly managed livestock and ranging activities,” said Jewell’s statement.