Republic of Mining

Group of 29 tribes oppose Pebble Mine, B.C.’s ‘transboundary’ projects – by Kevin Gullufsen (Juneau Empire – October 20, 2017)

October 20, 2017

Southeast and Bristol Bay tribal mining opposition now has a unified front. Two Alaska Native tribal consortiums announced a “historic” partnership Wednesday at the Alaska Federation of Natives conference in Anchorage.

Tribal groups representing a majority of the indigenous peoples in Southeast and Bristol Bay will work together to oppose mining projects in both regions. The Juneau-based Central Council of Tlingit and Haida Indian Tribes of Alaska (CCTHITA) and Douglas Indian Association (DIA) are part of the agreement.

The United Tribes of Bristol Bay (UTBB), which represents 80 percent of the 14 Yup’ik, Denai’na, and Alutiq indigenous communities in Bristol Bay, signed a Memorandum of Agreement (MOA) with Southeast Alaska Indigenous Transboundary Commission (SEITC), which represents 15 of the region’s 19 tribal organizations.

“One Belt, One Road”, China, Globalization and the International Oligarchy – by Kerry R. Bolton (Foreign Policy Journal – October 19, 2017)

October 20, 2017

https://www.foreignpolicyjournal.com/

What was once called “imperialism” is now “globalization”, and China taking a lead is no reason for celebration by opponents of the US’s Empire.

In estimating the significance of geopolitical maneuvering by the USA, EU, China, and Russia, more can be discerned by looking at the organ grinders rather than their monkeys. One might expect this to be axiomatic, but apparently not, and it can be readily dismissed as “conspiracy theory” by journalists, academics and other intellectually banal types; unless it is a Clintonesque conspiracy theory that is of a Russophobic character.

I would still contend that when looking at Russia under Putin, it is usually that “what one sees is what one gets,” but not so the other major geopolitical world players. One must look beyond the public figures of the USA, China and EU, to get a fuller picture of what is transpiring on the world stage among these players.

Rio opens books to over half-dozen possible suitors for Australia coal mines: sources – by James Regan (Reuters U.S. – October 20, 2017)

October 20, 2017

https://www.reuters.com/

SYDNEY (Reuters) – Global miner Rio Tinto has opened its books to more than a half-dozen potential buyers of its remaining two Australian coal mines as it winds down the sales process, two people familiar with the sale process said on Friday.

The Kestrel and Hail Creek coking coal mines on the block have attracted some of Australia’s established coal miners, as well as private equity firms attracted to the positive outlook for selling metallurgical coal to Asian steel mills at robust prices, according to the people.

The mines could fetch around $2 bln, the sources said, in a sale that if successful would complete Rio’s plan to finalize its exit from the sector and focus on iron ore, copper and aluminum, where it maintains greater market share. Credit Suisse is advising Rio on the sale.

NEWS RELEASE: Canadian Mining Hall of Fame Welcomes Four Inductees for 2018

October 20, 2017

http://www.mininghalloffame.ca/

Ross Beaty, Bob Gannicott, Terry MacGibbon and Ed Thompson to be honoured at Annual Dinner and Induction Ceremony

(Toronto, ON – October 16, 2017) – On January 11, 2018, the Canadian Mining Hall of Fame (CMHF) will welcome four industry champions – Ross Beaty, Bob Gannicott, Terry MacGibbon and Ed Thompson – to its prestigious group of 177 mining hall of famers.

For the past 30 years, the CMHF has recognized outstanding achievement in the mining industry, celebrated individual leadership and inspired future generations in mining. Canadians are global leaders in the industry and these four inductees reflect the very best of mining expertise, determination and leadership.

“The Canadian Mining Hall of Fame is proud to recognize these four outstanding individuals for their lasting contributions to the mining industry, both here in Canada and across the globe,” says Bill Roscoe, Canadian Mining Hall of Fame Chair.

China’s Jinchuan eyes new nickel, cobalt project to tap electric vehicle boom – by Tom Daly (Reuters U.S. – October 20, 2017)

October 20, 2017

https://www.reuters.com/

BEIJING (Reuters) – Jinchuan Group [JCHRP.UL], China’s top nickel producer, will next year start building a new project in Guangxi that will produce raw materials for electric vehicle (EV) batteries, its chairman said, looking to tap the sector’s “explosive” demand.

The project, in the southern port city of Fangchenggang, where Jinchuan already smelts copper and nickel, will have annual production of 30,000 tonnes of nickel and 3,000 tonnes of cobalt by 2020, Wang Yongqian said in an emailed Q&A with Reuters.

The company’s three main metals “are all raw materials for electric cars,” Wang said, forecasting “explosive growth” in EVs in China over the next five-10 years. Wang was in Beijing this week to attend the 19th Communist Party congress.

Barrick-Brokered Tanzania Pact Leaves Acacia Mining in the Dark – by Thomas Wilson and Omar Mohammed (Bloomberg News – October 20, 2017)

October 20, 2017

https://www.bloomberg.com/

Acacia Mining Plc’s tumultuous year doesn’t seem likely to ease up any time soon. The gold miner’s shares surged as much as 41 percent Thursday, after controlling shareholder Barrick Gold Corp. said it moved closer to resolving a crippling dispute with Tanzanian authorities.

Yet it seems Acacia itself — which must approve any deals Barrick negotiates with the government — was left out of the loop. Tanzania banned exports of unprocessed gold in March and hit Acacia with a $190 billion tax bill in July, claiming the company had under-declared export revenue since 2000.

The ban meant the London-based company was forced to stockpile output and curb mining at its flagship operation. Third-quarter earnings plunged 70 percent from a year ago, the company said Friday.

Australia’s Chinese dream must go beyond iron ore – by Michael Smith(Australian Financial Review – October 19, 2017)

October 20, 2017

http://www.afr.com/

Credit Suisse’s top China economist Dong Tao was given a bodyguard to escort him to the airport in Brazil after his 2013 speech predicting the commodities super cycle was over sent the country’s mining stocks down 5 per cent. When he made a similar speech in Australia later that year, no one believed him.

Tao is back in Australia this week with similar bearish comments about Chinese demand for iron ore and coal. This time round, the market would be wise to pay more attention. Tao, one of the first to predict the end of the China-driven commodities super cycle, says Australia’s weakness is that it has relied too long on China’s insatiable appetite for steel and is not planning for the Asian nation’s transition to a consumption-led economy.

“It is obvious Australians can sell beef and wheat to the Chinese but it can do a hell of a lot more if people do their homework properly,” Tao, a managing director for Credit Suisse’s private banking operations in the region, says.

First Nations leaders break with Ottawa on environmental policy – by Shawn McCarthy (Globe and Mail – October 20, 2017)

October 20, 2017

https://beta.theglobeandmail.com/

First Nations leaders have halted their collaboration with Liberal government on developing environmental legislation, arguing Ottawa is failing to make good on its vaunted commitments to work in partnership with Indigenous people.

In a letter to Prime Minister Justin Trudeau, three members of the Assembly of First Nations executive committee said they were promised that they would be full partners in crafting the rules under which major mining, oil and gas and pipeline projects would be assessed.

They complained they are being left out of key decisions on the proposed legislation. The letter, dated Oct. 16, was provided to The Globe and Mail on Thursday.

PotashCorp one step closer to sealing merger deal with Agrium – by Alex MacPherson (Saskatoon StarPhoenix – October 19, 2017)

October 20, 2017

http://thestarphoenix.com/

The world’s largest fertilizer company has to sell its minority stakes in three foreign-owned companies, valued at almost US$4 billion, to secure approval from the Indian government’s antitrust bureau to proceed with its proposed multi-billion-dollar merger.

An appellate court said this week that the Competition Commission of India’s approval of Potash Corp. of Saskatchewan Inc.’s proposed merger with Agrium Inc. is conditional on the Saskatoon company selling the holdings within 18 months.

“This is another milestone reached on the road to a successful conclusion of the merger,” PotashCorp spokesman Randy Burton said. “The review process continues in both China and the U.S. and we expect to close the transaction by the end of the fourth quarter of 2017.”

Rio Holds Talks With Indonesia About Exit from Giant Mine – by Brett Foley and David Stringer (Bloomberg News – October 20, 2017)

October 20, 2017

https://www.bloomberg.com/

Rio Tinto Group has held talks with Indonesian groups, including state-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter.

Executives at Rio held meetings in recent weeks, including in Indonesia, on a potential sale of its income stream asset that’s part of the joint venture agreement with Grasberg’s operator Freeport-McMoRan Inc., said the people, asking not to be identified as details are private.

Rio is studying a range of options that could enable it to sell on its interest, the people said. There’s no guarantee that the talks will advance, or that any deal will eventuate, the people said.

One millionth ounce of gold poured at Tahoe’s Bell Creek – by Len Gillis (Timmins Daily Press – October 19, 2017)

October 20, 2017

http://www.timminspress.com/

In a ritual that has been performed thousands of times before in Timmins, a brand new gold bar was poured Thursday morning. The shiny ingot, weighing around 55 pounds, was valued at roughly $1.2 million.

For a handful of people in Timmins it might be a common thing, but for Tahoe Canada it signifies that the company made the right moves eight years ago when Lake Shore Gold, now Tahoe Resources, was being created.

The gold bar that was poured at the company’s Bell Creek refinery was the one-millionth ounce of gold that has been produced since the company initiated its Timmins mining complex back in 2009.

Updated: Vale lays off 21 in Sudbury – by staff (Sudbury Star – October 19, 2017)

October 19, 2017

http://www.thesudburystar.com/

Vale continues to cut its Sudbury workforce. United Steelworkers Local president Rick Bertrand confirmed the Brazilian mining giant had laid off 21 people at its Sudbury operations on Thursday morning. The company made an official announcement around noon.

“This past year has been one of transformation in our Ontario operations,” Angie Robson, manager of corporate affairs for Vale’s Ontario operations, said in an emailed statement. “The ramp down of Stobie Mine and the Clarabelle Mill Crushing Plant, the transition to a single furnace and the closure of the copper circuit in our Smelter means that Ontario operations will produce lower volumes than we have in recent years. While we are smaller today, these decisions have set us up to be much more agile and competitive in the years ahead.

“As a result, today, formal layoff notices were given to 21 production and maintenance employees in accordance with our Collective Agreement with USW Local 6500.”

Barrick Gold to give Tanzania mines stake and $300 million to end dispute – by Fumbuka Ng’wanakilala (Reuters U.K. – October 19, 2017)

October 19, 2017

https://uk.reuters.com/

DAR ES SALAAM (Reuters) – Barrick Gold (ABX.TO) will give Tanzania a 16 percent stake in three gold mines, a 50 percent share of revenues from those mines and a one-off payment of $300 million (£227.8 million) to resolve a dispute that has hit its operations in the country, the two sides said.

The Canadian miner and the Tanzanian government have been in talks for months after the east African country banned the export of unprocessed minerals and enacted laws to raise state ownership of the nation’s mines.

The agreement announced on Thursday comes after the new laws and a crackdown on mining firms slowed fresh investment in what has long been seen as one of Africa’s brightest mining prospects.

Interplanetary players: a who’s who of space mining – by Chloe Cornish (Financial Times – October 19, 2017)

October 19, 2017

https://www.ft.com/

Companies plotting to put robots into space need funding anchored here on Earth

Mineral extraction is going to be crucial for the survival of colonies on Mars or the moon, dreamt up and financed by the likes of entrepreneurs Elon Musk and Jeff Bezos.

But such is the prohibitive fuel economy of space travel that it is unclear when, if ever, bringing resources such as iron and platinum back to Earth will be commercially viable.

Angel Abbud-Madrid, director of the Centre for Space Resources at the Colorado School of Mines, says it would make sense only when things on Earth “become economically not affordable”. “Now it’s a race to the funding,” says Meagan Crawford, who runs Brand Delta-V, a space marketing consultancy.

Learning From the Fight Against Lead – by Faye Flam (Bloomberg News – October 17, 2017)

October 19, 2017

https://www.bloomberg.com/

As policymakers work to curb mercury pollution, they should consider the history of another dangerous metal.

According to some estimates, the use of leaded gasoline stole five or more IQ points from those of us who grew up in big U.S. cities during the 1960s and early 1970s, when contamination peaked. Studies show that children with higher levels of lead in their baby teeth do worse on tests of reading ability, grammatical reasoning, vocabulary, reaction times and hand-eye coordination.

And the doses back then were massive — typical kids had blood levels five times what’s known to cause brain damage. In case there was any doubt, newer studies confirm that lead’s damaging effects on children are permanent.

Eventually, science moved policymakers to take action. Now people around the world face the same challenge with mercury — another metal that’s toxic to children’s brains. Do we stall and debate while risking harm, or act with a greater level of precaution? The lessons of the past offer some guidance.