Republic of Mining

North American Nickel forecasts Greenland project launch by 2024 (Reuters U.S. – November 1, 2017)

November 8, 2017

https://www.reuters.com/

BEIJING, Nov 1 (Reuters) – North American Nickel should start producing at its flagship Maniitsoq project in Greenland by 2023 or 2024, when demand for nickel from electric vehicle (EV) batteries should be in full swing, the company’s chief executive officer (CEO) said on Tuesday.

The Toronto-based exploration company, which acquired the Maniitsoq licences five years ago, has invested over $50 million in exploration so far, CEO Keith Morrison told Reuters in an interview in Beijing, where he was attending the annual Greenland Day at the Danish embassy.

It will be at least another five years before it has finished exploration, completed feasibility studies and construction, and started selling its metals output.

The $750 Million Magnesium Deal That Came Up $750 Million Short – by Danielle Bochove, Natalie Obiko Pearson and Kristine Owram (Bloomberg News – November 8, 2017)

November 8, 2017

https://www.bloomberg.com/

It was one of 2017’s mega mining deals. And then it wasn’t. West High Yield (W.H.Y.) Resources Ltd. — the tiny Canadian explorer that surged nearly 1,000 percent last month after announcing a pact to sell its main assets for $750 million — said the deal has collapsed. The buyer couldn’t come up with a deposit for less than 1 percent of the transaction value, or $500,000.

“The purchaser failed to pay the deposit” by the Nov. 6 deadline, Calgary-based West High Yield, which trades under the ticker WHY, said in a statement late Tuesday. “The board of directors of the company decided to terminate the agreement.”

The collapse ends a transaction that sparked a review by regulators following West High Yield’s extraordinary surge on Oct. 5 after it announced the deal. The stock jumped to C$2, from just 36 cents the previous day, giving the company with no revenue a market value of C$114 million ($89 million).

Spare a Nickel for Vale? – by David Fickling (Bloomberg News – November 8, 2017)

November 8, 2017

https://www.bloomberg.com/

Here’s a sign that 2017’s nickel boom is in full swing: Vale SA is looking to sell a slice of its New Caledonian unit, and seems to be attracting bidders.

The interest in Vale New Caledonia, or VNC, is surprising because the division — on a French-ruled island in the Pacific that’s due to hold a vote on independence next year — is one of the highest-cost mines in an industry that’s spent years losing money.

The existence of willing buyers is as strong a signal as you could want that the prospect of fresh demand from electric vehicle batteries is leading many to bet on a recovery from nickel’s three-year slump.

Zimbabwe invites investment in underground chrome mining – by Martin Creamer (MiningWeekly.com – November 8, 2017)

November 8, 2017

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Zimbabwe on Wednesday invited chrome mining investors to focus on underground chromium operations rather than cheaper strip mining operations, from which most of the country’s chromium ore is currently extracted.

In a keynote opening address to the packed 33rd Chromium Conference, Zimbabwe’s Permanent Secretary of the Ministry of Mines and Mining Development Munesushe Munodawafa expressed the view that the future of chrome mining in the country lay in underground mining rather than the current opencast methods, which he described as being limited in both quantity and quality.

“The future of chrome mining in Zimbabwe is in the developing of underground operations,” Mundowafa told the record number of 260 delegates from many parts of the world. He urged investors in underground chrome-mining operations also consider partnerships with Zimbabwe’s small-scale miners.

Here’s how to tell when metals markets are about to turn south – by Scott Barlow (Globe and Mail – November 8, 2017)

November 8, 2017

https://beta.theglobeandmail.com/

There are times when market action isn’t tough to figure out and the recent rally in base metals is one of those times.

For all the talk of the lithium, nickel and magnesium that would be needed during a surge in electric vehicles, broader metals prices continue to be driven primarily by Chinese imports and also by rising global manufacturing activity.

The catch is that forecasts for the Chinese economy imply the rally could be short-lived. China’s dominance in global commodity markets is highlighted by the fact the country consumes half of the global supply of copper and coal produced each year.

McEwen Mining targeting acquisition spree to get S&P listing – by John Revill (Reuters U.S. – November 7, 2017)

November 8, 2017

http://www.reuters.com/

ZURICH (Reuters) – McEwen Mining (MUX.TO) is on a buying spree as the Canadian gold company aims to grow its market capitalization by more than five times to achieve its ambition of a listing on the S&P 500, chief owner Rob McEwen said on Tuesday.

The Toronto company is seeking to buy several assets, ideally distressed companies or mines whose owners are in financial difficulties, to help raise its market capitalization to $5 billion from under $1 billion now.

In May this year, Canadian resources magnate McEwen said he was giving himself two-to-three years to make his company only the second gold mining company in the S&P 500.

Timmins invited to bid for ferrochrome plant – by Len Gillis (Timmins Daily Press – November 8, 2017)

November 8, 2017

http://www.timminspress.com/

TIMMINS – Timmins is taking a new step forward with the plan to attract a new ferrochrome production facility, according to new information released by the Timmins Economic Development Corporation (TEDC) this week.

Because TEDC had previously submitted information to Noront Resources (TSXV:NOT) that company has now invited Timmins to submit “a compelling case proposal” in a bid to win over Noront which continues to search for a host city for some sort for a facility for the Ring of Fire nickel and chromium discovery.

Noront is the Canadian junior mining company with the biggest claim to all the major discoveries in that region, located in the James Bay Lowlands.“The company’s first project is a 100%-owned, high-grade, nickel, copper and platinum group element (PGE) deposit called Eagle’s Nest. It is the largest high-grade nickel discovery in Canada since Voisey’s Bay and the most advanced project in the Ring of Fire.

Excerpt: Exposing the totalitarian roots of the climate industrial complex – by Rupert Darwall (Financial Post – November 7, 2017)

November 8, 2017

http://business.financialpost.com/

Were it not for its impact on industrialized societies’ reliance on hydrocarbon energy, theories of man-made climate change would principally be of limited academic interest. In fact, these theories were first politicized precisely because of the demands they make to decarbonize energy.

Sweden debuted global warming as part of its war on coal when Al Gore was still at law school. It was meant to have ushered in an age of nuclear power. The reason it didn’t, instead becoming an age of wind and solar, is principally because of Germany.

Despite being Europe’s premier industrial economy, German culture harbours an irrational, nihilistic reaction against industrialization, evident before and during the Nazi era. It disappeared after Hitler’s defeat and only bubbled up again in the terrorism and antinuclear protests of the 1970s and the formation of the Green Party in 1980.

Sudbury to bid for ferrochrome plant – by Harold Carmichael (Sudbury Star – November 8, 2017)

November 8, 2017

http://www.thesudburystar.com/

The City of Greater Sudbury has been asked to put together a formal offer to host a plant that would process ore from Ring of Fire chromite deposits in northwestern Ontario.

“We sent out packages to the City of (Greater) Sudbury, Timmins, Sault Ste. Marie and Thunder Bay (partnering with Fort Williams First Nation) defining exactly what our needs are as far as the site for the ferrochrome processing plant, and we gave out a lot of specifics,” Alan Coutts, Noront Resources’ president and chief executive officer, said Tuesday in a telephone interview from Toronto.

“Essentially, it’s a request for proposal. We are looking to get the completed proposals by the end of January.” Coutts said the packages went out Monday and have a due date of Feb. 2. The president and chief executive officer said his company has been working closely with all four cities, “looking at possible sites and doing site evaluations. We are now looking at specifics, information.”

City officially launches ferrochrome application – by Elaine Della-Mattia (Sault Star – November 7, 2017)

November 7, 2017

http://www.saultstar.com/

Noront is reaching out to Sault Ste. Marie to formally ask the city if it is interested in hosting a ferrochrome processing plant.

“With our strategic location, transportation infrastructure, talent and other competitive advantages, we’re making the case that our community is the prime site to host this project,” said Dan Hollingsworth, executive director of Business Development for the Sault Ste. Marie Economic Development Corp.

“We look forward to working with our partners on preparing a response that exceeds Noront’s expectations.” The request formally launches the process that will see the City of Sault Ste. Marie make a case that it is the ideal location to host the plant.

[Poland] In the Country Where Coal Is King, a Battle With the EU Looms – by Ewa Krukowska (Bloomberg News – November 6, 2017)

November 7, 2017

https://www.bloomberg.com/

The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market.

Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8 to overhaul the Emissions Trading System, the EU’s flagship climate-policy tool to reduce greenhouse gases.

Discussions have stalled over a new modernization fund, with some lawmakers pushing to restrict financing just to utilities that emit less than 450 grams of carbon dioxide per kilowatt hour, a move that would make aid unavailable to coal-fired power plants.

NEWS RELEASE: CENTERRA GOLD ANNOUNCES FRIENDLY ACQUISITION OF AURICO METALS

November 7, 2017

TORONTO, Ontario – November 7, 2017 – Centerra Gold Inc. (“Centerra” or the “Company”) (TSX:CG) and AuRico Metals Inc. (“AuRico Metals”) (TSX:AMI) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Centerra will acquire all of the issued and outstanding common shares of AuRico Metals (the “Arrangement”) for C$1.80 in cash consideration per share (the “Purchase Price”), representing an aggregate transaction value of C$310 million.

The Purchase Price represents a 38% premium to the closing price of AuRico Metals’ common shares on the Toronto Stock Exchange (“TSX”) on November 6, 2017 and a premium of 37% to the 20-day volume weighted average price (“VWAP”) as of such date.

AuRico Metals is developing the Kemess property in British Columbia, Canada; a low-cost brownfield development asset that is host to the feasibility-stage Kemess Underground (“KUG”) and preliminary economic assessment level Kemess East (“KE”) projects. AuRico Metals also owns a high-quality, freecash flow generating royalty portfolio which includes a 1.5% net smelter return (“NSR”) royalty on the Young-Davidson gold mine in Ontario and a 2.0% NSR royalty on the Fosterville mine in Australia.

Mine ventilation goes digital – by Karen McKinley (Northern Ontario Business – November 7, 2017)

November 7, 2017

https://www.northernontariobusiness.com/

Maestro Digital Mine creates a digital solution to assist in deep mining

What to do when technology no longer fits the needs of an ever-changing industry? Reinvent it and bring it to the 21st century, of course.

It sounds like a no-brainer, but in the case of ultra-deep mining, technology once used on surface plants is being taken further underground and mining companies are discovering the negative effects, making them less reliable.

Ultra-deep mining presents many logistical and technical problems the current technology is not designed for. While mines are able to go deeper than ever before, there are many issues like worker heat stress, increasing temperature, barometric pressure and humidity which require higher cost ventilation monitoring and control systems.

COLUMN-China’s iron ore appetite stays voracious even as steel output cut by Clyde Russell (Reuters U.S. – November 6, 2017)

November 7, 2017

https://www.reuters.com/

LAUNCESTON, Australia, Nov 7 (Reuters) – There is no sign as yet of a slowdown in China’s imports of iron ore, despite an increase in the amount of steel-making capacity being idled as part of efforts to combat air pollution during winter.

It would seem logical that if steel mills are forced to cut production in order to lower emissions, demand for iron ore in the world’s top importer would also slow to reflect the reduced steel output.

While this still may occur in coming months, it certainly didn’t happen in October, with vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts pointing to another bumper month.

Vehicle offers quicker response for Kidd mine rescue team – by Len Gillis (Timmins Daily Press – November 6, 2017)

November 7, 2017

http://www.timminspress.com/

TIMMINS – With Glencore’s Kidd Mine in Timmins being the deepest base metal mine in the world, innovation has become a way of life there. The most recent change is the delivery of a tricked-out Toyota truck that can bring mine rescue teams to the most remote areas of the massive mine more quickly than ever before.

The Mine Rescue Emergency Response Vehicle (MRERV) is being put through its paces these days as mine rescuers get training on driving the truck and learning to drive it onto the mine’s huge elevator known as the cage.

Normally the cage is used to transport miners, mining materials, tools and explosives from surface into the depths of the mine. But the cage is also big enough and robust enough to carry a vehicle.