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Federal gov’t, Saskatchewan swipe sale of N.W.T. rare earth metals from Chinese buyer – by Rose Danen (CBC News North – June 19, 2024)

https://www.cbc.ca/news/canada/north/

Vital Metals sells stockpile to Saskatchewan Research Council for $3.3M

Vital Metals announced Monday that it’s selling its stockpiled rare earth material to the Saskatchewan Research Council for $3.3 million. This material comes from the North T deposit at the Nechalacho mine, 110 kilometres from Yellowknife.

Natural Resources Canada, along with Energy and Natural Resources Minister Jonathan Wilkinson, directly facilitated this transaction, which has the effect of keeping rare earth materials out of Chinese hands.

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Sean Boyd built Canada’s largest miner. Now he’s fighting for the nation’s Arctic sovereignty – by Gabriel Friedman (Financial Post – June 20, 2024)

https://financialpost.com/

The longtime leader of Agnico Eagle is newly focused on his vision of how industry and government can partner to develop the North

Sean Boyd has spent the past four decades building Toronto-based Agnico Eagle Mines Ltd. into Canada’s largest mining company and the world’s second-largest gold miner.

Now, having “retired” in December and transitioned to company chair from executive chair, he is making frequent visits to Ottawa to push the federal government to more aggressively assert sovereignty over the Canadian Arctic, where Agnico has built three mines (two are currently producing) and is planning a fourth project.

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Study finds coal mine contaminants blown onto snowpack in Alberta, British Columbia – by Bob Weber (Canadian Press – June 19, 2024)

https://www.thecanadianpressnews.ca/

Study finds coal mine contaminants in snowpack

Cancer-causing chemicals are being blown downwind from coal mines in southern British Columbia in concentrations that rival those next to oilsand mines, newly published research has concluded.

“Our results reveal, for the first time, clear evidence that coal mining contaminants are spread far downwind from their sources,” says the paper, published in the journal Environmental Science and Technology.

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Along Peru’s mining corridor, Big Copper faces a snarl of trucks – by Marco Aquino (Reuters – June 19, 2024)

https://www.reuters.com/

LIMA, June 19 (Reuters) – Surging copper prices this year have brought startling growth in the number of trucks carrying copper from illegal mines in Peru, jamming roads, causing accidents and creating hazardous conditions especially after dark along the Andean country’s key “mining corridor” highway, industry sources told Reuters.

With copper demand soaring as the world rapidly moves toward electric vehicles and clean energy, illegal mining has been booming. Trucks linked to artisan and illegal mining operations have been crowding vehicles from mines like Chinese-controlled MMG Ltd’s Las Bambas, Hudbay’s Constancia and Glencore’s Antapaccay.

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London bullion market drops bid to block U.K. trial over allegations against Barrick mine – by Geoffrey York (Globe and Mail – June 17, 2024)

https://www.theglobeandmail.com/

London’s bullion market association is abandoning a jurisdictional challenge to a lawsuit by Tanzanian claimants, setting the stage for a British trial into allegations that the association is wrongly giving human-rights clearance to gold products from Barrick Gold Corp.’s controversial North Mara mine.

The lawsuit was filed in London in 2022 by relatives of two Tanzanian men allegedly killed by security forces at the North Mara gold mine, but the jurisdictional argument had delayed the trial for nearly a year.

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Province, Aroland First Nation have traction on a Ring of Fire road agreement – by Ian Ross (Northern Ontario Business – June 19, 2024)

https://www.northernontariobusiness.com/

Northwest First Nations provided with road improvement, training dollars for future mine development

Greenstone has been long regarded as the gateway to the Ring to the Fire — the logistical crossroads, business and training hub for any future mine development in the James Bay region.

Premier Doug Ford made his second trip in eight months to the rural northwestern Ontario on June 19 to deliver training and infrastructure dollars, and smooth over relations with First Nations that may be on the fence about development in the Far North.

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New York Copper Market Tightens Again, Piling Pressure on Shorts – by Mark Burton and Jack Farchy (Bloomberg News – June 19, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Spot copper prices are again trading at a steep premium to later-dated futures in New York, putting fresh pressure on holders of short positions after a historic squeeze last month.

The July-delivery Comex copper traded at a 7.4 cent-per-pound premium to the September contract, in a condition known as backwardation that typically signals a supply shortage. The spread traded in an unprecedented 29.25-cent backwardation last month, putting huge pressure on commodity traders and investors with short positions in the July contract.

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More than minerals: Why mid-stream capacity is key to Canada’s industrial future – by Ian M. London(Northern Miner – June 19, 2024)

https://www.northernminer.com/

Ian M. London is executive director of the Canadian Critical Minerals & Materials Alliance (www.c2m2a.org).

Canada boasts of its rich history and continued success in mining, metallurgical and chemical processing, advanced manufacturing, strong trade relations north-south and east-west, access to clean energy and its commitment to sustainability.

While these strengths lay the foundation for Canada to succeed in a rapidly changing economy driven by the global energy transition, they’re not enough. The looming challenge is how can industry, governments, communities and investors lever and translate these capabilities and aspirations to fulfill Canada’s promise?

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If Diamonds Aren’t That Rare, Why Do They Cost so Much? An Investigation – by Angela Horn (MSN.com – June 14, 2024)

https://www.msn.com/

Despite their widespread popularity and cultural significance, it turns out this popular engagement gem isn’t as rare as we may think. So, why are diamonds so expensive? Several factors contribute to their high price. Let’s unpack each of them to see if it’s worth shelling out a small fortune for these precious stones or if we should seek an alternative.

While diamonds might not be the rarest minerals on the planet, the specific type of diamond used in jewelry isn’t that easy to come by. Formed deep within the Earth’s mantle billions of years ago, only a small amount makes it to the surface. According to Info Diamond, only about 20 percent of rough diamonds are suitable for gem purposes.

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McEwen Mining invests $30 million in Timmins-area exploration – by Staff (Northern Ontario Business – June 18, 2024)

https://www.northernontariobusiness.com/

Toronto gold company funds next mine in its stable of gold properties

McEwen Mining has raised $30 million to fund exploration and development of the next mine in the project pipeline at its Fox Complex, east of Timmins.

The Toronto gold company closed financing last week through a flow-through share offering, which will be earmarked for exploration drilling and construction of an underground access ramp from the surface to reach gold at its Stock East and West properties.

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Sanctions on Russian diamonds: Good or bad for Africa? – by Chrispin Mwakideu (DW.com – June 19, 2024)

https://www.dw.com/en/

Diamond-rich African nations are ramping up production to fill the gap left by the G7 sanctions on Russian diamonds. But not all countries are happy about the ban.

Earlier this year, the G7 , a group of wealthy nations comprising the US, Canada, the UK, Germany, France, Italy and Japan, and the European Union banned rough diamonds mined in Russia.The ban was part of many sanctions on Russia imposed by Western nations and their allies for President Vladimir Putin’s 2022 invasion of Ukraine.

But the sanctions against Russian diamonds, intended to weaken Russia’s economy in light of its aggression, could pose a potential risk to the global diamond market’s stability.

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Indigenous groups in Washington, Alaska call for the right to consult on B.C. mining projects – Nathan Vanerklippe (Globe and Mail – June 19, 2024)

https://www.theglobeandmail.com/

Native Americans in Washington and Alaska who want status as aboriginal peoples of Canada are considering legal action against the government of British Columbia, after the province said it would create a consultation process on mining and industrial projects for U.S.-based groups that is separate from that held with Canadian groups.

The B.C. Environmental Assessment Office, in letters earlier this year to the Southeast Alaska Indigenous Transboundary Commission, or SEITC, and the Lummi Nation, said it is working on a policy to consult Indigenous groups based outside of Canada that “will be different from that taken with B.C. First Nations.”

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4 First Nations sign deal with Ontario to build roads near Ring of Fire – by Liam Casey (Canadian Press/Global News – June 18, 2024)

Youtube Video From Office of the Premier of Ontario

https://globalnews.ca/

Four First Nations have signed a deal with Ontario for new roads, other infrastructure projects and skills training as the province lays a foundation for plans to mine the mineral-rich Ring of Fire region.

The province said Animbiigoo Zaagi’igan Anishinaabek, Aroland First Nation, Ginoogaming First Nation and Long Lake #58 First Nation will see their roads that connect to the provincial highway system fortified and renewed.

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Ottawa, Saskatchewan Research Council step in to prevent sale of Canadian rare earth metals to Chinese buyer – by Niall McGee (Globe and Mail – June 18, 2024)

https://www.theglobeandmail.com/

The federal government and the Saskatchewan Research Council (SRC) are stopping Canadian rare earth metals from falling into the hands of a Chinese buyer, after facing backlash from critics who argued that allowing the deal to proceed was antithetical to Canada’s critical minerals policy.

Australia-based Vital Metals Ltd. in December announced it was selling its stockpile of rare earths that were mined at the Nechalacho Project in the Northwest Territories to China’s Shenghe Resources Holding Co. Ltd.

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Indigenous company lands Sudbury mine project contract – by Ian Ross (Northern Ontario Business – June 17, 2024)

https://www.northernontariobusiness.com/

Aki-eh Dibinwewziwin LP awarded advanced exploration contract for Magna Mining’s Crean Hill Project

Sudbury’s Magna Mining decided to buy local in picking an Indigenous contractor to extract a bulk sample from its emerging Crean Hill nickel and copper mine project.

Aki-eh Dibinwewziwin Limited Partnership (ADLP) has been awarded an advanced exploration contract that involves pulling a 20,000-tonne surface bulk sample that’s part of Magna’s early test mining scheduled for later this year. The sample will be trucked to Glencore’s Strathcona mill in Sudbury for processing.

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