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OPINION: BHP’s failed pursuit of Anglo American does not mean mining megadeals are dead – by Eric Reguly (Globe and Mail – June 1, 2024)

https://www.theglobeandmail.com/

BHP Group’s botched bid for Anglo American brings the curtain down on the greatest takeover attempt in global mining in more than a decade. The megamerger game will not end here. BHP’s lunge for its smaller rival highlighted a hard truth: Copper is in short supply and any big mining company without it will pay the price as economies strive for low-carbon futures.

The desire to own Anglo’s copper assets, including its 44-per-cent stake in Chile’s Collahuasi mine, one of the world’s biggest copper reserves, propelled BHP’s pursuit of Anglo. Copper is the metal considered most critical to the energy revolution.

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China’s Chang’e-6 robot lands on Moon’s far side – by Georgina Rannard and Laura Bicker (BBC.com – June 2, 2024)

https://www.bbc.com/

China says its uncrewed craft has successfully landed on the far side of the Moon – an unexplored place almost no-one tries to go. The Chang’e-6 touched down in the South Pole-Aitken Basin at 06:23 Beijing time on Sunday morning (22:23 GMT Saturday), the China National Space Administration (CNSA) said.

Launched on 3 May, the mission aims to collect precious rock and soil from this region for the first time in history. The probe could extract some of the Moon’s oldest rocks from a huge crater on its South Pole.

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Mining skills shortage looms as Ontario gears up for EV boom – by Darius Snieckus (National Observer – June 4, 2024)

https://www.nationalobserver.com/

Ontario’s mining industry risks a shortfall of over 3,500 skilled green-collar workers by 2040, unless it jump-starts education and training for the new generation of technicians needed as Canada’s critical minerals-hungry electric vehicle (EV) sector gears up this decade, according to a new strategy report unveiled by the government.

The province last week launched its Critical Minerals Talent Strategy, a multi-department initiative developed by the government’s Ontario Vehicle Innovation Network (OVIN) to head off this employment bottleneck as mining deepens its focus on extracting the cobalt, lithium, nickel and other materials key to manufacturing EV batteries.

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Rarest of Rare: The Legendary Story of Muzo Emerald Colombia – by Katerina Perez (Jewellery Insights by Katerina Perez – May 28, 2024)

https://www.katerinaperez.com/

When the Conquistadors landed in the New World, in their quest for El Dorado at the end of the 15th century, they searched incessantly for emerald mines. It would take another hundred years until the first emeralds were extracted from Muzo at the heart of Boyacá, 60 miles northwest of Colombia’s capital, Bogota.

From the 16th century onwards, Muzo emeralds have held a lofty position in the mineral world thanks to their rich green colours, wonderful clarity and distinctive crystal formation. First, they were prized by the Spanish and European royal courts, followed by the Mughal rulers of India, and then by contemporary waves of celebrities, such as Elizabeth Taylor.

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Canada now ‘a little bit of a laughingstock in NATO’ – by Donna Kennedy-Glans (National Post – June 2, 2024)

https://nationalpost.com/

Canadian business titan Larry Stevenson is a former soldier who knows what’s wrong with the Canadian Armed Forces. It’s not the personnel

“Canada, you are freeloading!” That’s how businessman and former Canadian soldier Lawrence (Larry) Stevenson interprets last week’s letter from 23 U.S. Democratic and Republican senators to Prime Minister Justin Trudeau. The American lawmakers urged Canada to uphold its NATO commitments, and speed up efforts to increase defence spending to two per cent of GDP.

A NATO summit is planned for July in Washington. It’s not business-as-usual for American senators to publicly deliver such a blunt message to a NATO ally and neighbour in advance of a summit; I’m more than a little curious to understand its timing and meaning.

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Ring of Fire Road Needs to Start Construction Now Due to Geopolitics and Global Warming – Stan Sudol (June 1, 2024)

Without a doubt, the Ring of Fire camp and its many strategic minerals that include nickel, copper, platinum group metals, chromite and titanium – just to mention a few as explorers have just scratched the proverbial surface – is the most important mining discovery in Canadian history. It may even exceed the legendary Sudbury Basin some day.

Discovered in 2007, the region is located approximately 450 kms. northeast of Thunder Bay in the isolated and vast peatlands of Hudson Bay which itself is roughly the size of Norway but with only about 10,000 people. Contrary to fanatical ENGOs, sustainable mineral development and exploration practices will have minimal impact on the environment and provide the critical minerals needed to stop global warming. Australian miner Wyloo owns the Eagle’s Nest nickel/copper mine and various chromite deposits. Canadian owned Juno Corp is the other main explorer in the district and controls roughly 52 percent of the mine claims.

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OPINION: Honouring the nation born in the fires of Juno Beach – by Tim Cook (Globe and Mail – June 1, 2024)

https://www.theglobeandmail.com/

D-Day was the moment that Canada became a country that mattered. How can we do justice to that story 80 years later?

Tim Cook is chief historian at the Canadian War Museum and the author or editor of 18 books of military history.

Eighty years ago this month, an American, British and Canadian armed force set off from Britain to launch a fraught assault on Northwest Europe to liberate the oppressed people from their Nazi overlords. And the Allied generals were worried.

They had been sweating for months over multiple drafts of the operation, gathering military assets and formulating complex deceptions to trick Adolf Hitler’s forces about the location of the real attack. Even then, the generals felt that the amphibious landing force had only about a 50-per-cent chance of surviving the coming battle on the beaches at Normandy in France.

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Mineral processing plant will bring hundreds of jobs, business opportunities to Sudbury area – by Lindsay Kelly (Northern Ontario Business – May 29, 2024)

https://www.northernontariobusiness.com/

First-of-its-kind $800-$900 million facility, processing Ring of Fire nickel, will give Wyloo an edge in electric battery manufacturing

Hundreds of jobs and economic development opportunities will be created in the region when Wyloo Canada builds its multi-million-dollar minerals processing plant in the City of Greater Sudbury.

Announced on May 29, the facility will be the first in Canada to process nickel sulphate and nickel-dominant precursor cathode active material (pCAM) — minerals needed to make the batteries used in electric vehicles.

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Anglo American refuses to extend takeover talks with BHP, signalling end of mining megamerger attempt – by Eric Reguly (Globe and Mail – May 30, 2024)

https://www.theglobeandmail.com/

BHP Group Ltd. BHP-N, the world’s biggest mining company, is seeing its megamerger proposal with Anglo American PLC fall apart, with the smaller company rejecting BHP’s call to extend the takeover talks.

Anglo’s rejection almost certainly kills BHP’s proposal to put the two companies together, which would have created the world’s biggest producer of copper, a metal considered critical to the transition to a low-carbon economy. Only a few days ago, it seemed the two sides were on the verge of an agreement.

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Wyloo Canada to build Ring of Fire facility in Sudbury (updated) – by Staff (Sudbury Star – May 29, 2024)

https://www.thesudburystar.com/

Wyloo CEO Canada Kristan Straub says the facility would provide the missing piece in Canada’s aspirations to develop a domestic EV battery supply chain

Wyloo Canada announced this morning that it plans to build a downstream battery materials processing facility in Sudbury. It will cost up to $900 million to build and will create several hundred jobs, officials said at the EDome this morning.

It will cost up to $900 million to build and will create several hundred jobs, officials said at the EDome this morning. Wyloo said it has an agreement with the City of Greater Sudbury to secure land to build the battery materials processing facility. The new facility will fill a critical gap in Canada’s electric vehicle battery supply chain by establishing Canada’s first mine-to-precursor cathode active material (pCAM) integrated solution.

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EU Policy. Commission clinches raw materials deal with Australia – by Marta Pacheco (Euronews Green – May 28, 2024)

https://www.euronews.com/

The European Commission today (28 May) announced it has forged its 13th trade partnership designed to source critical raw materials from outside the bloc, with Australia.

Valdis Dombrovskis and Thierry Breton, respectively commissioners for trade and the internal market, appeared alongside signatory Australian trade minister Don Farrell, claiming the deal was “based on mutual benefits” — enabling the EU to diversify supply, and the development of Canberra’s domestic critical minerals sector.

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What’s Next for De Beers? – by Avi Krawitz (Rapaport Magazine – May 21, 2024)

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De Beers draws its value from the diamond market. That value has come under scrutiny after last month’s dramatic bid by BHP Billiton to acquire Anglo American, the 85% shareholder of De Beers — a deal Anglo rejected. The offer, along with the diamond market’s weak performance in 2023, has fueled speculation about the future of De Beers.

Anglo confirmed the rumors on May 14, while laying out its strategy to unlock value after rejecting a second offer from BHP. De Beers will “be divested or demerged, to improve strategic flexibility for both De Beers and Anglo American,” the company stated.

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Glencore to consult investors on coal spinoff after Teck deal – by Thomas Biesheuvel (Bloomberg News – May 29, 2024)

https://www.bnnbloomberg.ca/

Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources Ltd.’s mines closes later this year. Crucially, Glencore said that should the majority of shareholders support keeping its coal mines, the company will not proceed with a vote.

Glencore’s coal business is one of its most profitable units, driving record returns in recent years, and the plan to exit the fossil fuel and list a new company in New York represented a major strategic pivot under current boss Gary Nagle.

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BHP walks away from proposed $49bn takeover of Anglo American – by Cecilia Jamasmie (Mining.com – May 29, 2024)

https://www.mining.com/

BHP (ASX: BHP) has withdrawn its proposal to buy Anglo American (LON: AAL) after the takeover target rejected early on Wednesday the world’s largest miner’s request to extend talks, and said that while it believes its bid was “compelling”, the company is committed to a “disciplined approach” to mergers and acquisitions.

“BHP will not be making a firm offer for Anglo American,” chief executive Mark Henry said in a statement published minutes before the 5 p.m. UK time deadline for the mining giant to make a formal bid. “While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost,” Henry noted.

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New Caledonia unrest pushes nickel sector deeper into crisis (France 24 – May 28, 2024)

https://www.france24.com/en/

Noumea (AFP) – Weeks of unrest in New Caledonia have plunged the archipelago’s nickel industry, already on government life support, closer to catastrophe, sector representatives say. The French Pacific territory is the world’s third-biggest producer of nickel, behind Indonesia and the Philippines, and ahead of Russia and Australia.

Nickel, a silver metal used as an alloy to make stainless steel, electronic components and jewellery, is also a key ingredient for electric vehicle batteries, making it critical for a transition towards cleaner energy.

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