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Cancellation of Nickel Investments Should Be a Wake-Up Call for Indonesia – by Krista Shennum (The Diplomat – July 05, 2024)

https://thediplomat.com/

The government’s break-neck drive to exploit its nickel deposits should not come at the expense of human rights and the environment.

On June 24, two multinational mining and mineral processing giants, France-based Eramet and Germany-based BASF, announced that they would cancel plans for a $2.6 billion nickel-cobalt refinery located within the Indonesia Weda Bay Industrial Park (IWIP), in North Maluku, Indonesia.

The companies cited commercial reasons, but the Indonesian government would be short-sighted to ignore other concerns. In an indirect reference to human rights and environmental concerns with nickel processing operations at IWIP, a BASF spokesperson said the company needs a “secure, responsible, and sustainable supply of critical raw materials.” Implicit in the companies’ statements is that they are concerned about increasing their reputational risk through a new investment at IWIP.

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Ekati boss envisions another 25 years of mining – by Derek Neary (NNSL.com – July 4, 2024)

https://www.nnsl.com/

Agnico Eagle hits new marks at Meliadine and Meadowbank

The Northwest Territories’ economy continues to lean heavily on diamond production, which is waning overall, and, to a lesser extent, rare earths. In Nunavut, gold and iron ore are the backbone of GDP. Here are some noteworthy occurrences from operating mining companies in both territories.

Burgundy Diamond Mines

Burgundy Diamond Mines, owner of Ekati, reported a major jump in carats sold in its first quarter report for 2024. Its 1.32 million carats sold played a central part in the $117 million (U.S.) in revenues generated for the quarter. The total yield was 1.15 million carats, down from 1.18 million a year earlier.

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Sale of Teck’s steelmaking coal business to Glencore approved (CBC British Columbia/Canadian Press – july 6, 2024)

https://www.cbc.ca/news/canada/british-columbia/

Teck Resources said it expects to receive $9.5 billion from the sale, excluding closing adjustments

The last hurdle in Teck Resources Ltd.’s years-long effort to off-load its coal mining business and become purely a metals producer is cleared after the federal government approved the sale of the operation to Swiss commodities giant Glencore.

In a statement posted Thursday, Industry Minister François-Philippe Champagne said the green light comes with “strict” conditions and represents a “much narrower” transaction than Glencore’s hostile takeover attempt of Teck last year.

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US miners push Washington to revive long-dormant Bureau of Mines – by Ernest Scheyder (Reuters – July 5, 2024)

https://www.reuters.com/

July 5 (Reuters) – Mining trade groups plan to push Washington to revive and expand the long-dormant Bureau of Mines, an effort aimed at streamlining how the U.S. government regulates and supports critical minerals production and timed to coincide with the 2024 presidential election.

The lobbying campaign, details of which have not previously been reported, is set to launch this month ahead of the Republican and Democratic political conventions. It will contrast scattered U.S. mining oversight with Australia and other countries where senior mining-related agencies report directly to heads of government, according to three sources with direct knowledge of the effort.

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Ottawa tightens rules for approving large mining deals involving critical minerals – by Jeffrey Jones (Globe and Mail – July 6, 2024)

https://www.theglobeandmail.com/

Ottawa is making foreign investment in critical minerals more restrictive as the mining industry seeks capital to develop the raw materials that will be key to a low-carbon economy.

Industry Minister François-Philippe Champagne approved Glencore PLC’s US$6.9-billion acquisition of Teck Resources Ltd.’s metallurgical coal-mining business on Thursday, attaching a series of conditions following a net-benefit review. Teck said the deal will free up billions of dollars to reward its shareholders and speed up development of its copper production.

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Marathon mine developer eyes 2025 construction start – by Ian Ross (Northern Ontario Business – July 4, 2024)

https://www.northernontariobusiness.com/

Generation Mining focusing on copper amid permitting delays, hunt to secure project financing

Generation Mining president-CEO Jamie Levy wants to assure all that the Marathon palladium-copper mine will get built. Ever since the Toronto junior miner first appeared on the north shore of Lake Superior in 2019, the company has been a press release-generating machine with its ambitious plans for an open-pit operation.

But in recent months, there’s been a lull in news flow that’s prompted a few concerned investors to ask Levy if the project is stalled.

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First Nation in Yukon calls for halt of mining on its traditional territory after Eagle gold mine accident – by Niall McGee (Globe and Mail – July 4, 2024)

https://www.theglobeandmail.com/

A First Nation in Yukon is calling for a stop to mining in its traditional territory as uncertainty swirls over the scale of environmental damage caused by the failure of a gold processing plant.

Giant piles of cyanide-laced rocks collapsed June 24 at a heap leach facility at the Eagle gold mine in central Yukon operated by Victoria Gold Corp., triggering a landslide that likely released toxic cyanide into the environment.

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[American] Mining Hall of Fame announces 2024 inductees (Leadville Herald Democrat – July 3, 2024)

https://www.leadvilleherald.com/

The National Mining Hall of Fame and Museum (NMHFM) recently announced the class of 2024 National Mining Hall of Fame inductees and the recipient of the Prazen Living Legend of Mining Award. The 37th Induction Gala will be Nov. 2 at The Cable Center in Denver.

Arthur C. Daman – (1889-1968)

Arthur C. Daman, known as “Mr. Denver Equipment,” was a pioneer in modern mineral processing. He founded Denver Equipment Company (DECO) and obtained over 50 patents during his 40-year leadership. Daman and his team wrote what many called “the bible on mineral processing and process equipment.” Published in 1954, his Denver Equipment handbook is still well known today.

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U.S. Nuclear Fears as Iran Targets African Uranium – by Hugh Cameron (Newsweek Magazine – July 2, 2024)

https://www.newsweek.com/

Iran is trying to source uranium from West Africa, signaling a further expansion of the nuclear program that has long rattled states in the West.

Despite continued scrutiny and multiple efforts at curtailment, Iran still hosts one of the most advanced nuclear programs in the world, and reports have emerged that the country’s weapons program is gaining steam. One expert told Newsweek that, while the country has not definitively begun weaponizing its nuclear capabilities, continued attempts to boost its enriched stockpile should raise concern.

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Tin outperforms as broader base metals rally falters – by Andy Home (Reuters – July 4, 2024)

https://www.reuters.com/

LONDON, July 4 (Reuters) – The London Metal Exchange (LME) Index hit a two-year high in May when funds surged into base metals, chasing a narrative of manufacturing recovery, super-charged energy transition demand and constrained supply.

Doctor Copper, investors’ favourite barometer of industrial activity, soared to an all-time high, spurred by a ferocious squeeze on the CME contract. Both gold and silver markets also climbed as the metals complex returned to the investor spotlight after years of neglect.

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Blood nickel: What electric-vehicle hunger has wrought, and how Canada can help – by Mark Selby (Globe and Mail – July 4, 2024)

https://www.theglobeandmail.com/

Mark Selby is the founder and CEO of Canada Nickel Co.

Blood diamonds, blood cobalt, and now blood nickel. Governments leading the global shift toward electric vehicles promise cleaner cities and a new era of sustainable energy and improved resource usage.

But just as governments promote EVs on environmental grounds, manufacturers are forced to source nickel from a region enabling the wanton destruction of ecologically sensitive lands, reckless treatment of workers, and the fundamental deterioration of living conditions. There is only one solution to this problem: the world needs more Canadian nickel.

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Copper consolidation: How merging several operations in British Columbia’s Highland Valley created Canada’s largest copper mine – by Ailbhe Goodbody (CIM Magazine – July 02, 2024)

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

Copper was first discovered in British Columbia’s Highland Valley porphyry copper district in 1899, but production did not start until Bethlehem Copper Corporation’s property began operations in 1962.

Several other large-tonnage, low-grade copper operations were developed in the area, including Lornex Mining Corporation’s Lornex mine (controlled by Rio Algom) in 1972 and Highmont Mining and Teck’s Highmont mine in 1980.

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Vale Picks Mining Veteran Usmar to Lead Base Metals Turnaround – by Mariana Durao, Thomas Biesheuvel and Dinesh Nair (Bloomberg News – July 3, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Vale SA has selected veteran mining executive Shaun Usmar to take the helm of its base metals division as the Brazilian metals producer seeks to boost copper and nickel production, according to people familiar with the matter.

The board of the Rio de Janeiro-based company chose Usmar to head Vale Base Metals, said the people, who asked not to be identified because the information isn’t public. The appointment has yet to be confirmed and it’s possible things could change, one of the people said.

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Rio Tinto completes largest off-grid solar plant build in Canada’s north – by Staff (Mining.com – July 2, 2024)

https://www.mining.com/

Rio Tinto (ASX: RIO) said on Tuesday its 100% owned Diavik diamond mine in Canada’s Northwest Territories (NWT) has successfully completed the installation of its 3.5 megawatt capacity solar power plant.

The project represents the largest off-grid solar power plant across Canada’s territories, the Australian miner said. The Diavik mine is located about 200 kilometres south of the Arctic Circle, at the bottom of Lac de Gras.

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Do Consumers Care About Diamond Origin? – by Joshua Freedman (Rapaport Magazine – June 20, 2024)

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Panelists at RapNet event highlight provenance challenges.

One of the ongoing questions in the diamond industry is whether shoppers care about the source of the stones they buy. For Olivia Landau, CEO of online natural-diamond retailer The Clear Cut, the problem is more fundamental.

“Everyone just assumes that natural diamonds come from one place, and it’s Africa, and Africa’s one country, and it is a blood diamond,” Landau said in a RapNet panel discussion at the recent JCK Las Vegas show. “We are starting from square one.”

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