Republic of Mining

Construction at Nunavut’s Meliadine gold mine on schedule, on budget – by Beth Brown (Nunatsiaq News – August 1, 2017)

August 2, 2017

http://www.nunatsiaqonline.ca/

Gold project near Rankin Inlet on track to start production in 2019

Agnico Eagle Mines Ltd. has reported that work at its Meliadine project, which received construction approval in February from Agnico Eagle’s board, is progressing as planned and is even slightly ahead of schedule.

The mining company operates the Meadowbank mine, which is currently nearing its end of lifespan, near Baker Lake in Nunavut’s Kivalliq region. To replace the exhausted mine, the company is building its long-awaited gold mine at Meliadine near Rankin Inlet and developing a satellite deposit near Meadowbank at a property called Amaruq.

Agnico Eagle included an update for its Meliadine and Amaruq deposits in a July 26 quarterly report, which cites a net income of $61.9 million, or 27 cents per share, for the second quarter of 2017, compared with income of $19 million, or nine cents per share over the same period in 2016.

Germany’s long goodbye to coal despite Merkel’s green push – by Vera Eckert (Reuters U.S. – August 2, 2017)

August 2, 2017

https://www.reuters.com/

FRANKFURT (Reuters) – Burning coal for power looks set to remain the backbone of Germany’s energy supply for decades yet, an apparent contrast to Chancellor Angela Merkel’s ambitions for Europe’s biggest economy to be a role model in tackling climate change.

Merkel is avoiding the sensitive subject of phasing out coal, which could hit tens of thousands of jobs, in the campaign for the Sept. 24 election, in which she hopes to win a fourth term. Although well over 20 billion euros are spent each year to boost Germany’s green energy sector, coal still accounts for 40 percent of energy generation, down just 10 points from 2000.

To avoid disruption in the power and manufacturing sectors, coal imports and mines must keep running, say industry lobbies, despite the switch to fossil-free energy. “(Coal) makes a big contribution to German and European energy supply security and this will remain the case for a long time to come,” the chairman of the coal importers’ lobby VDKi, Wolfgang Cieslik told reporters last week.

Minnesota Grand Rapids ore will make pig iron in Ohio – by John Myers (Duluth News Tribune – August 1, 2017)

August 2, 2017

http://www.duluthnewstribune.com/

Iron ore concentrate from Minnesota will go to make pig iron in Lorain, Ohio under a deal reached between fledgling ERP Iron Ore and Republic Steel.

Under the agreement ERP will produce concentrated ore at its recently acquired Magnetation operations outside Grand Rapids, move it by rail to its Reynolds, Ind. plant to be baked into pellets and then ship those pellets to Ohio to be made into pig iron.

The two companies will be joint owners of the new pig-iron plant to be built on the site of a now-shuttered Republic blast furnace mill.

Focus on Economy Before Climate Deal, Glencore Urges Australia – by Perry Williams (Bloomberg News – August 2, 2017)

August 2, 2017

https://www.bloomberg.com/

Australia may need to consider delaying its goals to combat global climate change in order to prioritize energy security and economic prosperity, according to a senior executive at Glencore Plc.

The country’s emerging energy crisis, in conjunction with government-imposed clean-energy targets, has undermined investor confidence and may force businesses to shut or move offshore, the commodity giant’s global coal head, Peter Freyberg, said in a speech Wednesday in Sydney.

“If that means Australia needs to consider a possible delay in meeting its emission reduction targets under the Paris Agreement in order to prioritize energy security and economic prosperity, then its worthy of further discussion,” he said, adding that Swiss-based Glencore has invested $20 billion in its Australian assets and last year contributed more than $12 billion to the economy.

Hydro-powered smelters charge premium prices for ‘green’ aluminum – by Peter Hobson (Reuters U.S. – August 2, 2017)

August 2, 2017

https://www.reuters.com/

LONDON (Reuters) – Producers of “green” aluminum – made using renewable energy rather than fossil fuels – are starting to charge premium prices thanks to rising demand from industrial customers under pressure to reduce their carbon footprints.

Operators of smelters powered by hydro-electricity in the likes of Norway, Russia and Canada are promoting their environmental credentials – and stealing a march on others that rely on coal or gas, notably in China and the Gulf.

The competitive edge lies not in the metal itself, but the fact that its production requires far lower total emissions of greenhouse gases including carbon dioxide. While they do not use the term “green” aluminum, a number of producers are offering low-carbon guarantees on their metal, although they refuse to say how much more they charge for this beyond saying the premiums are relatively modest.

U.S. Rep. Tom Emmer: Why I’m pushing to preserve mining in northern Minnesota – by Tom Emmer (Minneapolis Star Tribune – August 1, 2017)

August 2, 2017

http://www.startribune.com/

Tom Emmer, a Republican, represents Minnesota’s Sixth District in the U.S. House.

Minnesota is an amazing state with an abundance of natural resources and one of the best-educated and -motivated workforces in the world. We Minnesotans not only work hard, we play hard. In the Land of 10,000 Lakes, we make the most of everything our state has to offer.

For many Minnesotans, mining has been a way of life since the early 1800s. Although the way we mine has changed dramatically over the years, mining is even more important today to the future of our state and our country. In fact, one of the largest precious-metals deposits in the world has been discovered in Minnesota. This is why it is imperative that we preserve and celebrate mining in our state, not eliminate its future. Unfortunately, this wasn’t always a shared priority with the Obama administration.

When the Superior National Forest was established in 1909 — and later when the Boundary Waters Canoe Area Wilderness was established in 1978 — there was an express agreement between the federal government and the state of Minnesota that certain activities like mining and logging could continue in the Superior National Forest.

In search of the motherlode: Why Yukon is experiencing a 21st century gold rush – by Sunny Freeman (Financial Post – August 2, 2017)

August 2, 2017

http://business.financialpost.com/

You can find gold in Yukon riverbeds but original deposits have yet to be discovered, adding a mysterious mythology to the territory’s riches

Yukon gold has been legendary since bullion was first discovered in Dawson City in 1896, but a wave of investment from major miners in the past year suggests the territory could be on the brink of a 21st century gold rush.

Companies including Goldcorp Inc., Newmont Mining Corp. and Barrick Gold Corp. have lined up to invest more than US$600 million in the Yukon since 2016 — more than anywhere else in the world. “It’s a modern-day gold rush and, most surprisingly, it’s happening even though the Yukon has yet to host a significant hard rock gold mine,” said Gwen Preston, editor of the Resource Maven newsletter.

“Miners have pulled many millions of ounces from the Yukon’s rivers and gravel beds, but the territory has yet to offer up a large gold deposit that makes it to production.”

Dome underground mine closing in December – by Emma Meldrum (Timmins Daily Press – August 2, 2017)

August 2, 2017

http://www.timminspress.com/

TIMMINS – Porcupine Gold Mines announced Tuesday that mining operations are ending permanently at the Dome underground mine.

“This was a difficult decision, but one that is in the best interest of the long-term sustainability of the Porcupine Gold Mines complex,” said Marc Lauzier, mine general manager of Goldcorp’s Porcupine Gold Mines, in an emailed statement.

“These things are never easy,” Lauzier said later by phone. “Absolutely, it’s a difficult announcement for me to make, but from my point of view, it’s also about optimizing the business to help me secure investments for some of the other projects that we’re trying to do in the area, including Hoyle, including Hollinger, including Borden, and including eventually Century. We have to make these decisions in order to secure those investments.”

Boom times ahead in the Cobalt camp: Staking rush, exploration activity puts famed mining camp back on the map – by Ian Ross (Northern Ontario Business – July 31, 2017)

August 1, 2017

https://www.northernontariobusiness.com/

These are boom times in the Cobalt camp, but this is entirely new territory for Gino Chitaroni. “I’ve been in this business more than 30 years, I’ve never seen this before,” said the president of the Northern Prospectors Association.

The worldwide search for green-tech minerals, like cobalt, to feed the exploding electric vehicle and lithium battery market has put the historic silver mining district back in the spotlight for a largely discarded by-product metal.

“Eighteen months ago, if someone breathed the word cobalt, I would have thought they were on crack,” chuckles Chitaroni, a third-generation Cobalt-area miner and president of Polymet Labs in the town of Cobalt.

B.C. Energy and Mines Minister takes on tough portfolio – by Gordon Hoekstra (Vancouver Sun – August 1, 2017)

August 1, 2017

http://vancouversun.com/

Michelle Mungall is a rural MLA from the Kootenays who has experience in social issues. She now takes on a ministry that encompasses economic, First Nation and environmental issues across a vast land base in B.C.

Mungall, a three-term MLA from Nelson-Creston and former Nelson city councillor, takes on a tough portfolio as major industrial projects involved in mining and energy are high-profile and often controversial. In her first week in office, Pacific NorthWest LNG cancelled its $11.4-billion project, citing poor global markets.

The project was one of several leading proposed liquefied natural gas projects — none of which have been built — promoted by the former B.C. Liberal government. The Pacific NorthWest LNG project was opposed by environmentalists and some First Nations and scientists. Another potential controversy is brewing over Taseko’s proposed $1.1-billion Prosperity gold and copper mine in the Interior, twice rejected by the federal government and opposed by the Tsilhqot’in Nation. The company was granted an extensive drilling permit in early July, in the dying days of the B.C. Liberal government.

Tanzania and Barrick start talks to resolve Acacia row – by Fumbuka Ng’wanakilala (Reuters U.S. – July 31, 2017)

August 1, 2017

https://www.reuters.com/

DAR ES SALAAM (Reuters) – The Tanzanian government and Barrick Gold have started talks to resolve a tax dispute involving the Canadian company’s subsidiary Acacia Mining, the president’s office said on Monday.

The government accuses Acacia, which is 63.9 percent owned by Barrick, of evading taxes for years by under-declaring exports and has banned exports of gold and copper concentrates.

Acacia denies the accusations, which have pummelled its share price, and said last week it had been hit with a $190 billion tax bill, which is equivalent to four times the East African country’s annual gross domestic product.

Al Gore warns us to watch out for manipulative fearmongers — like him – by Terence Corcoran (Financial Post – August 1, 2017)

August 1, 2017

http://business.financialpost.com/

Not many people remember Al Gore’s 2007 book, The Assault on Reason. It came out a year after Gore’s 2006 movie/book combo, An Inconvenient Truth. It’s hard to pick up the 2007 effort without a chuckle. As one reviewer put it at the time, Assault on Reason is “an aptly titled tome” that accurately reflects its contents.

Then there’s the book jacket that talks about the “politics of fear” and an opening chapter that warns: “If leaders exploit public fears to herd people in directions they might not otherwise choose, then fear itself can quickly become a self-perpetuating and free-wheeling force that drains national will and weakens national character.”

Fear, adds Al Gore the great climate fear-monger, can be promulgated using three techniques: repetition, misdirection and making the irregular seem regular. “By using these narrative tools alone, anyone with a loud platform can ratchet up public anxieties and fears, distorting public discourse and reason.”

How De Beers is being stymied in hunt for fresh diamond sources – by Allan Seccombe (Business Day – July 31, 2017)

August 1, 2017

https://www.businesslive.co.za/

De Beers, which is building a R20bn underground mine at Venetia in SA, is hampered in its hunt for fresh diamond sources by the country’s regulatory environment despite itching to spend millions of dollars here.

De Beers spends $35m a year on exploration in SA, Canada and Botswana but is running into headwinds in SA, which the miner reckons is one of the more prospective regions for new diamond sources.

There is an adage in the diamond industry that the best place to find kimberlites, the carrot-shaped ancient volcanic pipes bearing diamonds, is near other kimberlites. SA was a leading source of diamonds for nearly a century. However, De Beers’s efforts at securing diamond prospecting permits using an enormous century-old database has become nearly impossible.

Sudbury’s mine tailings worth billions – by Staff (Sudbury Star – August 1, 2017)

April 30, 2018August 1, 2017

http://www.thesudburystar.com/

There is money to be made – and saved – by finding new, environmentally friendly ways to deal with mine tailings in Sudbury and across Ontario. With this in mind, the Vale Living with the Lakes Centre in Sudbury on Wednesday will welcome its academic and industry partners for a two-day Elements of Biomining (EBM) research symposium.

The national network has received $4 million in funding from the Ontario Ministry of Research and Innovation to develop biotechnologies for mine waste stabilization, and the recovery of valuable metals like nickel, copper and zinc.

To achieve this goal, Elements of Biomining will harness the capabilities of naturally occurring microbial communities. Researchers form the University of Toronto, University of British Columbia and Laurentian University make up Elements of Biomining.