Republic of Mining

Barrick’s Digital Reinvention Takes Shape in a Nevada Desert – by Danielle Bochove (Bloomberg News – October 30, 2017)

October 30, 2017

https://www.bloomberg.com/

Elko, Nevada is no Silicon Valley. A recent front-page story in the local paper hailed inductees to the Buckaroo Hall of Fame, a nod to the town’s cowboy past. Inside, a full-page spread detailed the aspirations of the kids vying for homecoming king and queen.

Yet it’s here, in an unremarkable warehouse in the foothills of the Ruby Mountains, that Barrick Gold Corp. has created an in-house coding hub to design software for its nearby Cortez operation — one step in its plan to use technology to revolutionize the business.

From underground WiFi to sensors that track the output of every miner, it’s all part of what Cisco Systems Inc. Executive Chairman John Chambers calls an “audacious goal” by his Barrick counterpart John Thornton to drag gold mining into the 21st century.

The best diamonds in the world are buried at the bottom of the Atlantic Ocean – by Aislinn Laing (Quartz.com – October 29, 2017)

October 30, 2017

https://qz.com/

The best diamonds in the world come from the sea. Swept up from riverbeds by the mighty Orange River in southern Africa back when dinosaurs still roamed the earth, their bumpy journey to the Atlantic polished them and broke up any stones with flaws, ensuring only the strongest and best survived.

Those diamonds landed off the coast of what is now Namibia, creating the world’s richest marine-diamond deposit. The country’s territorial waters are now estimated to hold 80 million carats, and the world’s biggest diamond miner, De Beers, has quietly built up an armada off the coast to vacuum up those precious gems.

Diamonds on land are running out; no economically viable new source has been found in 20 years.

Catholic, Anglican bishops unite in opposition to Adani mega-mine – by Nicole Hasham (Sydney Morning Herald – October 30, 2017)

October 30, 2017

http://www.smh.com.au/

It may have the Turnbull and Palaszczuk governments firmly in its corner, but the Adani super-mine is facing a formidable new opponent: the Christian faith.

The Catholic and Anglican bishops of Townsville have issued a joint statement to their followers criticising “projected mega-mining developments across Queensland, especially the Galilee Basin”, and accusing politicians and big business of failing to protect the common good.

The bishops’ message puts them head-to-head with Adani, the Indian mining behemoth behind the $16.5 billion Carmichael mine proposed for the Galilee Basin. It also puts them at odds with the local council and state and federal governments, which resoundingly support the project.

OPINION: Old King Coal is not dead – by Rom Owen (The Gympie Times – October 29, 2017)

October 30, 2017

https://www.gympietimes.com.au/

STEVE Hall’s prediction that “Coal is Dead” and claims that coal “will become a stranded asset” due to “renewable energy” is just a dream.

Thermal coal fuels 41 per cent of global electricity generation because it is reliable and affordable. Safer than nuclear and less worrisome for those who live below the walls of hydro-electric dams.

Coal is affordable as it is the most abundant fossil fuel on Earth. The total amount of coal in the world is so large (equivalent to about 150,000 quadrillion BTU) that the possession of even a small fraction represents a major economic benefit.

Are we running out of major gold mines? – by Frank Holmes (LawrieOnGold.com – October 30, 2017)

October 30, 2017

https://lawrieongold.com/

My good friend Pierre Lassonde, cofounder and chairman of Franco-Nevada, doesn’t know how we’ll replace the massive gold deposits of the past 130 years or so. Speaking with the German financial newspaper Finanz und Wirtschaft this month, Pierre says we’re seeing a significant slowdown in the number of large deposits being discovered.

Legendary goldfields such as South Africa’s Witwatersrand Basin, Nevada’s Carlin Trend and Australia’s Super Pit—all nearing the end of their lifecycles—could very well be a thing of the past.

Over the medium and long-term, this could lead to a supply-demand imbalance and ultimately put strong upward pressure on the price of gold.

According to Pierre:

LMEWEEK-Electric cars yet to turn cobalt market into gold mine – Nornickel – by Polina Devitt (Reuters U.K. – October 30, 2017)

October 30, 2017

https://uk.reuters.com/

MOSCOW, Oct 30 (Reuters) – Demand for cobalt used to make rechargeable batteries that power electric cars has not yet translated into a tighter market, according to Russia’s Norilsk Nickel, a major producer of the metal.

Materials used to make the batteries will be a key topic of discussion during LME Week, a gathering of the metal industry in London this week.

“The price is higher but there is no tense situation with cobalt supply now,” Anton Berlin, Nornickel’s head of strategic marketing, told Reuters in an interview.

Why did this slide wipe $1.3B from Teck’s market value? – by Frik Els (Mining.com – October 27, 2017)

October 30, 2017

http://www.mining.com/

Vancouver-based Teck Resources, Canada’s largest diversified miner which is close to completing a major oil sands project, reported on Thursday a nearly four-fold increase in quarterly profits.

The metallurgical coal business of Teck, also a major copper and zinc producer, accounted for 72% of its gross profits during the first nine months of the year.

Operationally Teck’s coal business has been humming. The company said its coking coal unit moved a record of 79 million bank cubic meters (BCM’s) during the quarter.

World Mining Competition testing the mettle of students in Saskatoon – by Alicia Bridges (CBC News Saskatoon – October 29, 2017)

October 30, 2017

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

Mining engineer Sydney Miller had never met the students on her four-person team before the World Mining Competition started in Saskatoon on Friday. Within 36 hours, the group had developed a complex mining strategy in response to a detailed question in a 26-page case study.

On Sunday, the multi-disciplinary teams of business, engineering and geology students from around the world each got the chance to present those strategies to a panel of judges.

Speaking shortly after her team’s presentation in the preliminary round, Miller said it had been a sleep-depriving and challenging weekend so far. “We had to learn each other’s strengths and weaknesses and set up the case accordingly to where we thrive,” she said.

Security tightened after illegal miners attack government posts in the Amazon – by Karla Mendes (Reuters U.S. – October 29, 2017)

October 30, 2017

https://www.reuters.com/

RIO DE JANIERO (Thomson Reuters Foundation) – Brazilian army and police officers have ramped up security in the northern town of Humaitá in the Amazon region after illegal gold miners set fire to the offices of government environmental watchdogs, officials said on Sunday.

The buildings of Brazil’s Environmental Protection Agency (Ibama) and the Chico Mendes Institute of Conservation of Biodiversity (ICMBio) in the northern Brazilian town of Humaitá were hit on Friday, according to the military police.

The attacks came after a crackdown on illegal mining operations with a government taskforce burning about 30 boats worth about $20,000 each in a prohibited area near a forest reserve on the Madeira River early Friday morning.

Full transcript: Iamgold CEO Letwin on cost control, innovation and gold’s bright future (Northern Miner – October 26, 2017)

October 30, 2017

http://www.northernminer.com/

The following is a transcript of the keynote speech by Stephen Letwin, president and CEO of Iamgold (TSX: IMG; NYSE: IAG) at the inaugural Progressive Mine Forum presented by The Northern Miner on Oct. 23 in Toronto.

What I want to do is take you through a little bit of my history and hopefully share a little bit of my experiences particularly as they tie in to innovation.

I’m 62 years old. I was born in southern Ontario and raised on a farm and went to school in Ontario. I spent my first couple of years with Procter & Gamble here in Toronto, and then at the tender age of 26 I got headhunted to Calgary, Alberta, and I went to work for a fellow that 95% of you won’t know. Maybe some of you do, or remember he was sort of the Elon Musk of the oil days. His name was Jack Gallagher.

COLUMN-In bizarre twist, coal may become a scarce commodity – by Clyde Russell (Reuters U.S. – October 27, 2017)

October 27, 2017

https://www.reuters.com/

BARCELONA, Oct 27 (REUTERS) – The idea of coal as a scarce commodity seems somewhat preposterous given it remains one of the most abundant mineral resources on the planet, but the coming years may see a deficit in seaborne markets for the polluting fuel.

The current debate surrounding coal is generally one of how long it will continue to play a role in the world’s energy mix before it is replaced by cleaner alternatives, mainly renewables such as wind and solar.

While various analysts will disagree on how quickly this process will occur, the reality is that coal, particularly in Asia, will remain a bedrock of energy supply for at least the next decade.

[Northern Minnesota Mining] APOLOGY ACCEPTED. BUT WAS IT SINCERE? – by Sen. David Tomassoni (Hibbing Daily Tribune – October 27, 2017)

October 27, 2017

http://www.hibbingmn.com/

The whole incident reported in the New York Times magazine makes me believe that the environmental extremist movement led by Becky Rom and her husband, Reid Carron, showed their true colors.

They aren’t only opposed to copper, nickel and precious metals mining. They want to stop all mining, iron ore mining included. They probably don’t like logging or farming, either.

It came to me as I was sitting on my deck drinking a beer (metal chair, a byproduct of mining; wooden deck, from logging; beer, from hops and grains from farming). I thought, now what’s wrong with sitting on my deck and drinking a beer. Then I thought, I wonder if the anti-mining people have metal chairs on their decks?

We’ll All Be Relying on Congo to Power Our Electric Cars – by Thomas Wilson (Bloomberg News – October 26, 2017)

October 27, 2017

https://www.bloomberg.com/

The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry.

Most major automakers are pledging to build millions of electric vehicles as the world’s governments crack down on climate-damaging emissions from traditional-fuel engines.

As a result, demand is surging for lithium-ion batteries and the materials needed to make them — including cobalt, a relatively rare substance found mostly in the Democratic Republic of Congo.

Xstrata Zinc Brunswick Mine, Bathurst,New Brunswick-“End of an Era” documentary by Glen Ferguson (April 2013)

January 9, 2018October 27, 2017

https://www.fergusonaudioproductions.com “End of an Era” Brunswick Mine. Shot and edited by Glen Ferguson. A historical look at Northern New Brunswick’s, Brunswick Mine. Once the world largest zinc mine, this long time economic staple our the region has recently closed. Over 50 years of unique history that changed the provinces Northern communities for ever and Over …

Mining Watch News Release: Class Action Against Agnico Eagle and Yamana Gold: Malartic Fight Continues

October 27, 2017

https://miningwatch.ca/

Toronto/Ottawa/Montreal—27 October 2017. Over 200 community members, families, and property and business owners are still fighting Agnico Eagle and Yamana Gold over the impacts from the Canadian Malartic gold mine – the biggest open pit mine located on the edge of a community in Canada. The case will be before the Quebec Superior Court today, in Val d’Or.

“We are quite concerned about Agnico Eagle and Yamana Gold’s response to this suit. They appear to be willing to spend more money on isolating and wearing out affected community members rather than swiftly and responsibly resolving the conflict through a mediation or arbitration process,” states Ugo Lapointe, Canada Program Coordinator for MiningWatch Canada.

“The current approach taken by both Agnico Eagle and Yamana Gold is not meeting the best practices and standards.”