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A Digital Policy With Teeth – by Andy Mukherjee (Bloomberg News – July 7, 2017)

https://www.bloomberg.com/

Nationalism minus chauvinism. That’s how Indonesia wants to deal with FANG. Facebook, Apple, Netflix and Google — the four horsemen of the digital economy — will get to play freely in the archipelago’s 260-million-strong consumer market, according to Communications and Information Technology Minister Rudiantara.

The minister, who uses only one name, has no airy-fairy notions about national digital champions who’ll help keep Indonesian money at home.The nation’s pragmatic approach to its small but growing digital economy is in stark contrast to “a particularly durable brand of resource nationalism,” which, according to Eve Warburton, a research scholar at the Australian National University, “has become a permanent feature of Indonesia’s political economy.”

A tax on unprocessed copper, meant to prod U.S. companies Freeport-McMoRan Inc. and Newmont Mining Corp. to add more value to their exports from Indonesia, may have caused billions of dollars in revenue losses for the government since 2014. While the levy has now been scaled back, Freeport is still stuck in a messy quibble with Jakarta over its license to operate at Grasberg, the world’s second-largest copper mine.

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Australia cuts resources export revenue forecast on iron ore outlook – by James Regan (Reuters U.S. – July 6, 2017)

https://www.reuters.com/

Australia has revised down the value of its resources and energy export earnings in the year to end-June 2017 by 4.6 percent, or nearly A$10 billion ($7.6 billion), due largely to falling prices for iron ore, its most valuable export.

The downward revision to A$205 billion mainly reflects an earlier than expected decline in iron ore prices since the previous forecasts were published three months ago, the Department of Industry, Science and Innovation said.

Iron ore, Australia’s top source of export revenue, should average $62.40 in calendar 2017, down from an earlier forecast of $65.20, the department said. Iron ore has averaged about $74 a tonne so far this year, implying prices will continue to deteriorate in the second half. The price was last quoted at $63.28 a tonne.

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Tipping Points and Tesla’s battery dilemma – by Alf Stewart (Resource World Magazine – July 6, 2017)

 

http://resourceworld.com/

Tony Seba’s excellent You Tube video, Clean Disruption – Why Energy & Transportation will be obsolete by 2030 – (Oslo, March 2016), covers the concept of tipping points and expands on the concept of our society being on the cusp of a revolution in energy and transportation.

It explains that new developments in solar panels, lithium ion batteries, electric cars and autonomous driving are simultaneously converging to create a shift away from oil and towards electricity to power self-driving cars, charged on smart grids, using power from solar renewable energy. Resource World readers, however, are mostly interested in any new opportunities in resource stocks stimulated by this shift.

At the centre of this are Elon Musk and his revolutionary Tesla cars, Powerwall batteries, and solar panels. Musk has disrupted the automobile industry by launching electric cars with performance characteristics so good that they broke Consumer Reports reporting scale for cars by scoring a perfect 100.

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Explorer seeking partners to support its efforts to tap Mauritania’s mineral wealth – by Ilan Solomons (MiningWeekly.com – July 7, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Mauritania has many mining investment opportunities, with economic, social and political conditions conducive to the pursuit of developing a sector considered strategic by the country’s government, says Oil, Energy and Mines Minister Dr Mohamed Abdel Vetah.

He points out that the Mauritania government has instituted a mining policy aimed at ensuring a “mutually beneficial” balance, while safeguarding the interests of the nation and investors.

International mining companies with existing operational mines in the country include base metals producer First Quantum Minerals and gold major Kinross Gold, both of Canada. Several companies also have exploration licences and/or were recently granted mining licences in Mauritania, such as West Africa-focused gold explorer Algold Resources, iron-ore exploration joint venture Mauritania Saudi Mining and steel and uranium development company Aura Energy.

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Electric car growth sparks environmental concerns – by Henry Sanderson (Financial Times – July 7, 2017)

https://www.ft.com/

Tesla Motors and now Volvo may have big plans to end the addiction of drivers to fossil fuels via electric vehicles, however the environmental footprint of mining raw materials used in car batteries and their eventual disposal are emerging as a flash point.

As the mining sector presents a green face and extracts raw materials from lithium to cobalt and nickel that constitute electric batteries, so the focus on their environmental standards and energy efficient production methods will intensify. At the tail-end of the electric vehicle boom is the matter of improving the recycling of lithium-ion batteries and making sure the environmental impact is also contained.

“There will be more scrutiny over the supply chain for electric vehicles than there is from the consumer electronics industry due to the green credentials of EVs,” says Robert Baylis, an analyst at consultancy Roskill. “And recycling is probably not going to have an impact for 10 years, and may not reach significant volume for 15-30 years.”

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Gold from every drill hole: Gowest Gold drills, preps site for future Timmins mine – by Staff (Northern Ontario Business – July 7, 2017)

https://www.northernontariobusiness.com/

Gowest Gold found gold mineralization in all 23 drill holes from a recent exploration campaign at its future gold mine near Timmins. The Toronto-based mine developer is in the midst of driving a ramp to take a 30,000-tonne bulk sample at its Bradshaw Gold Deposit.

The company said the advanced drill program was designed to refine the geological model and the stope design in the upper part of the deposit where the sample will be extracted in the third quarter of this year. The 2,097-metre program produced some encouraging gold intercepts, including 7.70 metres at 8.26 grams per tonne (g/t), including 2.0 metre at 22.75 g/t gold.

“This gives us confidence in our resource model and with several holes intersecting gold grades higher than anticipated it supported our interpretation that the Bradshaw Deposit has room to grow and the potential to be a very successful gold mine,” said Gowest exploration director Jeremy Niemi in a July 7 news release.

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Are the feds ready to buy into the Ring of Fire? – by Staff (Northern Ontario Business – July 7, 2017)

https://www.northernontariobusiness.com/

Transport minister launches national $2-billion transportation infrastructure fund

It’ll be a wait-and-see proposition if Ottawa is finally ready to invest in mining-related transportation infrastructure for Northern Ontario’s Ring of Fire. Federal transport minister Marc Garneau announced some of the details behind the Trade and Transportation Corridors Initiative (TTCI) as part of the government’s “nation-building infrastructure plan” on July 4.

The feds said they’re prepared to spend two billion dollars over 11 years on trade-oriented transportation infrastructure through investments in ports, waterways, airports, roads, bridges, border crossings, and rail networks.Up to $400 million is earmarked to support transportation infrastructure for the movement of people and goods in Canada’s Northern territories under a merit-based program.

Proponents are now being invited to tap into this fund by submitting an expression of interest to support transportation projects. Last March, no mention was made in the federal budget of any kind of investment toward building mining-related infrastructure for the Ring of Fire.

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Tahoe Resources shares plunge 33% after permit revoked for flagship silver mine – by Sunny Freeman (Financial Post – July 7, 2017)

http://business.financialpost.com/

Tahoe Resources Inc. shares plunged Thursday amid widespread stock downgrades after a Guatemalan court suspended the licence for its flagship Escobal mine, the world’s third-largest silver project.

Guatemala’s Supreme Court issued a provisional decision to temporarily revoke Tahoe’s licence in response to a lawsuit filed by human rights organization CALAS against the country’s Ministry of Energy and Mines. The group alleges the government violated indigenous rights to consultation when it granted Tahoe’s permit.

The suspension is a temporary measure until the suit brought against its subsidiary Minera San Rafael on behalf of the Xinca community can be fully heard. The company said it will immediately appeal to the country’s constitutional court.

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CEO says his Canadian streaming company is misunderstood – Danielle Bochove (Bloomberg/Financial Post – July 6, 2017)

http://business.financialpost.com/

The head of Sandstorm Gold Ltd. is feeling misunderstood. Shares in the Vancouver-based royalty and streaming company haven’t done much since it announced a deal in April to acquire Australia’s Mariana Resources Ltd.

The complexity of the arrangement — in which Sandstorm will obtain a 30 per cent interest in the Hot Maden gold-copper project in Turkey — has been an issue for investors, Chief Executive Officer Nolan Watson said. “Sometimes undervalued means not well understood,” he said in a telephone interview Wednesday.

While some investors believe Sandstorm is acquiring a 30 per cent joint-venture stake in Hot Madden, the acquisition is actually closer to a royalty agreement with upfront capex payments, he said. And since Sandstorm will spin off all other exploration assets received through the cash-and-stock transaction, understanding the asset is key to properly valuing the deal, he said.

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Why it doesn’t make sense that all informal mining is deemed illegal – by Kgothatso Nhlengetwa (The Conversation – April 12, 2016)

https://theconversation.com/

Throughout Africa artisanal and small-scale mining, whether legal or illegal, has been associated with social problems such as conflict, environmental damage, health risks and child labour. Although there are no exact numbers of how many people participate in such mining activities, it is evident that it is widespread.

Despite its negative aspects, the contribution of small-scale mining to the resource sector and social development cannot be disputed. About 15% to 20% of the world’s non-fuel mineral production comes from this sub-sector. An example of this can be seen in Ghana, where small-scale mining has contributed US$460 million since 1989 and is estimated to employ 300,000 to 500,000 individuals.

In South Africa, illegal mining as it currently stands covers all aspects of unpermitted mining. But this definition does not allow for differentiation between invasive illegal mining and informal community miners. Invasive mining occurs when miners illegally enter the old mine workings of decommissioned mines. Informal mining is community based mining that typically follows customary law.

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Silicosis’s toxic legacy offers deadly lessons for today – by Mica Jorgenson (The Conversation – July 6, 2017)

https://theconversation.com/

“His cough is loose … considerable amount of thick, black expectoration … cannot run; in the past six months has lost 16 pounds in weight … has no appetite in the morning and feels shaky and dizzy … diagnosis: Extensive bilateral fibrosis due to silicosis.”

So reads the medical report on a Finnish miner in the October 1924 volume of the Canadian Medical Association Journal. He had been working at the Porcupine gold camp near Timmins, Ont., for nine years on the day of his examination. The mining boom, begun in 1909, attracted miners, geologists and investment from around the world. But the rock held a deadly secret. When subjected to blasting and grinding, it produced tiny needle-like silica shards which shredded human lungs, cutting working lives tragically short.

A century later, silicosis is making headlines in Canada, thanks largely to the work of Janice Martell. Inspired by her miner father Jim Hobbs, Martell began to document health issues associated with a silicosis “cure” made from aluminum called McIntyre Powder. This spring Hobbs died after a 16-year battle with Parkinson’s disease possibly related to aluminum exposure.

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Congo requests financial support from donors amid economic crisis – by Aaron Ross (Reuters Africa – July 6, 2017)

http://af.reuters.com/

KINSHASA, July 6 (Reuters) – Democratic Republic of Congo’s government has formally requested financial support from international donors as it confronts a worsening economic crisis, a letter seen by Reuters on Thursday showed.

Africa’s top copper producer has been hard hit by low commodity prices in recent years. It has only enough foreign currency reserves to cover about three weeks of imports and its franc currency has lost half its value in the past year.

The letter was dated July 4 and addressed to the U.N. Secretary General as well as in-country representatives of the African Union, the European Union, three regional African organisations and other foreign ambassadors. In it, Prime Minister Bruno Tshibala’s chief of staff, Michel Nsomue, wrote that the government “needs the support of the international community and thus of its traditional partners”.

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Malaysia’s bauxite exports rise despite mining ban – by Emily Chow (Reuters U.S. – July 5, 2017)

http://www.reuters.com/

KUALA LUMPUR – A year and a half after banning bauxite mining to force miners to meet environmental standards, Malaysia’s exports to main customer China are again growing, raising public anger over illegal mining.

Residents and politicians in the east coast bauxite mining region are calling for a total export ban of the aluminum raw material, but industry figures and analysts say shipments are likely to continue.

Malaysia halted bauxite mining in January last year, but allowed exports to continue to deplete vast stockpiles at ports where run-off after monsoon rains had polluted waters and led to a public outcry.

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Guatemala suspends Tahoe’s flagship Escobal mining licence – by Henry Lazenby (MiningWeekly.com – July 6, 2017)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Canadian miner Tahoe Resources says it will approach Guatemala’s Constitutional Court after the Guatemala Supreme Court provisionally suspended the mining licence on its Escobal operation, the third-largest silver mine in the world.

The court issued a temporary licence suspension after nongovernmental and anti-mining organisation Calas filed a claim in May against Guatemala’s Ministry of Energy and Mines. Calas alleged that Tahoe had violated the Xinca indigenous people’s right of consultation in advance of granting the Escobal mining licence to Tahoe’s Guatemalan subsidiary, Minera San Rafael.

The licence will remain suspended while the action is being reviewed in court. Tahoe was not previously party to the action and did not have the standing to make submissions to the court regarding the provisional application.

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How an 1863 discovery put Arizona on the copper map – by Mark Nothaft (Arizona Republic – July 5, 2017)

http://www.azcentral.com/

It’s hard to imagine the scale of the Morenci Mine in the southeast portion of the state, but you can get really close to it. Literally.

Take a drive along U.S. Highway 191, and one of the world’s largest open-pit copper mines and leaching operations resembles the Grand Canyon in its multi-hued red rock expanses, layered and intricate and spell-binding. The road, which roughly follows the same path as the Coronado Expedition of 1540 from Mexico to the fabled Seven Cities of Cibola, winds through the middle of it.

You think you see Fray Marcos de Niza on horseback in the distance, and then, another detonation from the miners below shakes you back to reality. Boom! Monster bulldozers and dump trucks, four or five times the size of the ones we see in the city, scoop up loosened earth and haul it off for processing.

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