Republic of Mining

‘No better time in commodity cycle to get into copper/gold’ – Broadway chair – by Henry Lazenby (MiningWeekly.com – January 17, 2017)

January 17, 2017

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – There is no better time in the commodity price cycle to get into the copper/gold space than the present, says Montana-focused project developer Broadway Gold chairperson Duane Parnham.

Speaking to Mining Weekly Online during an interview, the mining veteran pointed out that an analysis of the TSX-V suggested technical support for project developers with forthcoming copper/gold projects.

US President-elect Donald Trump’s administration could dovetail into the market emerging from the depressed commodity price cycle and provide a demand boost with major new infrastructure build programmes.

NEWS RELEASE: Noront Resources Provides Update on Ring of Fire Development and Exploration Activities, and Announces Issuance of Interest Shares

January 17, 2017

TORONTO, ON–(Marketwired – January 17, 2017) – Noront Resources Ltd. (“Noront” or the “Company”) (TSX VENTURE: NOT) today provided an update on its development in the Ring of Fire and ongoing exploration activities.

Ring of Fire Development

Noront continues to work in concert with the Province of Ontario, the federal government and First Nations to advance Ring of Fire development and establish a joint infrastructure plan for the region.

Although progress is being made, this process intersects with discussions between the province and the Matawa Tribal Council at the Regional Framework Table that are taking longer than anticipated and that have the potential to delay the provincial government’s stated goal of having shovels in the ground by 2018. The timing for development of the Company’s Eagle’s Nest Mine is tied to the delivery of the shared access all-season road, as previously stated.

Brexit Plus Trump Have Sent Gold on a January Winning Streak – by Thomas Seal and Ranjeetha Pakiam (Bloomberg News – January 17, 2017)

January 17, 2017

https://www.bloomberg.com/

If you think the new year is a time of optimism and hope for the future, then you haven’t been watching gold.

Bullion has risen every day except one in 2017, evidence that investors are pricing in a rocky year ahead. U.K. Prime Minister Theresa May confirmed Tuesday that she’ll leave the European Union’s single market while seeking a new arrangement on the customs union. Donald Trump is just three days away from being sworn in as the next U.S. president.

“As the inauguration of Trump draws close, I think people are realizing that potentially this could be a very stormy presidency and gold may well benefit from that,” said David Govett, an analyst at Marex Spectron Group Ltd. in London. “There is new money at the beginning of each year looking for a home and a lot of this seems to find its way into gold.”

Rio Tinto lifts iron ore shipments 3pc, but copper falls short – by Daniel Palmer and Matt Chambers (The Australian – January 17, 2017)

January 17, 2017

http://www.theaustralian.com.au/

Rio Tinto has missed 2016 copper production guidance because of problems at Indonesian, US and Mongolian mines, resulting in an uncertain production outlook for this year, just as prices of the industrial metal show signs of recovery.

In its fourth quarter production report released this morning, the mining giant (RIO) logged full-year mined copper production of 523,300 tonnes, up four per cent from 2015 but missing already reduced guidance of between 535,000 and 565,000 tonnes. In October, guidance was cut from 545,000 to 595,000 tonnes.

Iron ore production from Rio’s big Pilbara-region mines in Western Australia performed in line with guidance and expectations.

Chile to invite bids on value-added lithium tech in April – by Rosalba O’Brien and Felipe Iturrieta (Reuters U.S. – January 17, 2017)

January 17, 2017

http://www.reuters.com/

SANTIAGO – Chile will hold a tender in April to encourage companies to use its vast lithium resources to move it up the value chain with cathode or battery production, the head of the country’s development agency told Reuters on Tuesday.

It is pressing ahead on deals with international firms as relations remain bitter with local lithium producer SQM SQM_pb.SN, where royalties arbitration is expected to take at least another year, said Eduardo Bitran, executive vice president of Corfo, which manages Chile’s lithium leases.

The price of lithium, a rare bright spot in commodities, has rocketed in recent years and is expected to continue to rise alongside demand. Lithium plays a small but essentially irreplaceable part in powering electric car batteries.

Miners Restored A Few Of Aussie’s Richest In 2016 – by Tim Treadgold (Forbes Magazine – January 16, 2017)

January 17, 2017

http://www.forbes.com/

No metal is as boring as zinc, the stuff used to galvanize (rustproof) steel, but don’t say that to Ivan Glasenberg, because zinc has played an important part in helping boost his fortune by $3 billion over the past ten months.

Glencore, the mining company in which Glasenberg has the biggest personal stake, 1.2 billion shares (8.42%), is one of the world’s biggest producers of zinc from mines in Asia, Africa, Australia and Canada. Since hitting the bottom at 66 cents a pound early last year, the price of zinc has rebounded by 75% to $1.16 a pound and got as high as $1.27 a pound just before Christmas.

The price recovery, largely triggered by the closure of old mines and mothballing of unprofitable projects, helped Glencore’s share price rocket up by 300% on the London Stock Exchange from 72 pence (88 cents) at this time last year to recent sales at £2.90 ($3.57).

Terra CO2: The Canadian start-up to neutralise mine acid waste – by Elly EArls (Mining-Technology.com – January 16, 2017)

January 17, 2017

http://www.mining-technology.com/

A first-of-a-kind system developed in Canada could tackle two of the mining industry’s biggest environmental problems simultaneously. Elly Earls meets Dylan Jones, CEO of Terra CO2 Technologies to find out more about this carbon dioxide-busting acid rock drainage solution.

Acid rock drainage is responsible for huge financial and environmental costs for miners but a Canada-based company may have found an innovative way to tackle the problem, while simultaneously slashing operations’ carbon footprints.

Both acid rock drainage (ARD) and the CO2 emissions associated with running fossil fuel-burning electricity generators are big issues for remote mines. While the emissions contribute to the global march of climate change, ARD – or the outflow of acidic water from metal and coal mines – can harm water systems, wetlands and other environments and habitats.

Coal, ore plunge hits St. Lawrence Seaway volumes – by Eric Atkins (Globe and Mail – January 17, 2017)

January 17, 2017

http://www.theglobeandmail.com/

The amount of cargo sailing on the St. Lawrence Seaway has sunk to the lowest levels in seven years amid a plunge in demand for coal and iron ore, two of waterway’s main commodities.

Total freight volumes for 2016 fell by 3 per cent to 35 million tonnes, led by 10-per-cent drops in coal and 14-per-cent declines in iron ore, according to the year-end figures released by the St. Lawrence Seaway Management Corp. on Monday morning.

The slowdown comes even as grain shipments continued their climb, and the 3,700-kilometre route enjoyed its longest shipping season since 2008, due to a mild spring that allowed ships to begin sailing on March 21.

Trudeau’s Liberals just got struck by the first shot in Canada’s carbon-tax rebellion – by Terence Corcoran (Financial Post – January 17, 2017)

January 17, 2017

http://business.financialpost.com/

During a now-notorious town hall in Peterborough, Ont., Prime Minister Trudeau last week came face to face with an issue that could become his electoral undoing — not just in Ontario, but across all of Canada.

The moment came when the Peterborough audience erupted in cheers and applause for a 54-year-old woman, Kathy Katula, who pleaded for the prime minister’s support in her battle against soaring Ontario electricity bills and the burden of living in what she described as energy poverty.

“I’m asking you, Mr. Trudeau, how do you justify to a mother of four children, three grandchildren, with physical disabilities, and working up to 15 hours a day, how is it justified for you to ask me to pay a carbon tax when I only have $65 left in my paycheque every two weeks to feed my family.”

Will the nickel boom make a new man of Manitoba? – by Robert Collins (MACLEAN’S Magazine – April 13, 1957)

January 17, 2017

http://www.macleans.ca/

It’s been a have-not province for years. Now its “worthless” north is bustling with an epic strike and staking rush. Some enthusiasts insist it’s the biggest thing since the CPR went through

Until a couple of decades ago every Canadian schoolboy was aware that the prosperity of our three prairie provinces — Alberta, Saskatchewan and Manitoba — depended on agriculture. Given a bumper wheat crop, the prairies were rich.

Hit by drought or rust, they were poor. Then Alberta broke the mold with a series of oil strikes, and in the bonanza that followed became a fat and flamboyant Canadian Texas. Times changed in Saskatchewan too with the advent of the atomic age and the discovery of major uranium deposits.

Manitoba was left in the lurch, with a horse-and-buggy economy hitched to agriculture in the south and a desolate pile of rock in the north that yielded a modest treasure without changing the basic pattern of the province’s economy.

[Australia mining tax] GST carve-up must reward policy that promotes growth – by Brendan Pearson (The Australian – January 16, 2017)

January 16, 2017

http://www.theaustralian.com.au/

In 1958 British novelist Kingsley Amis wrote a short story called The 2003 Claret in which the protagonists contemplate the utility of a time machine that would enable them to test the ageing qualities of particular wine.

Such a device would be handy in today’s world. It could be used to test the relative effects of public policy proposals. It could, for example, assess the impact of the proposal by West Australian Nationals leader Brendon Grylls to impose a $3 billion a year tax on selected iron ore producers.

My sense is that a research team sent into the future to examine its effects would come back with a grim report card. But you don’t need to take my word for that.

Acacia Jumps in London on $4 Billion Endeavour Merger Talks – by Thomas Biesheuvel and Thomas Seal (Bloomberg News – January 16, 2017)

January 16, 2017

https://www.bloomberg.com/

Acacia Mining Plc jumped to the highest in almost two months after the gold miner confirmed it is in early-stage talks with rival Africa-focused producer Endeavour Mining Corp. about a possible merger of the two companies which have a combined value of about $4 billion.

Acacia, which mines the precious metal in Tanzania, rose 4 percent to close at 435 pence in London, the highest since Nov. 21, after earlier rising as much as 7.7 percent.

After the close of trading in London on Friday, Acacia said it was in “discussions regarding a possible combination” with Endeavour. Bloomberg News earlier reported that day the companies were exploring a merger, citing people familiar with the talks. Toronto-listed Endeavour confirmed on Friday it had held discussions with Acacia that “may or may not result in agreement of a transaction.”

Atlas Copco to split group, company veteran Rahmstrom named new CEO – by Johannes Hellstrom (Reuters U.S. – January 16, 2017)

January 16, 2017

http://www.reuters.com/

STOCKHOLM – Sweden’s Atlas Copco (ATCOa.ST) said it would split into two listed companies in 2018, forming an industrial business and a separate mining and civil engineering firm whose equity would be distributed to the same shareholders.

Atlas Copco also appointed Mats Rahmstrom, currently head of its Industrial Technique business, as chief executive from April. Rahmstrom replaces Ronnie Leten, who turned 60 last year, and is stepping down after eight years.

Atlas Copco will concentrate on industrial customers, while the new company, with the working name NewCo, will focus on mining and civil engineering. Rahmstrom, who has been with the company for almost 30 years, will stay with the larger and more profitable industrial business when the split takes place.

In a Goan village, chillies fight back against iron ore mining. But will they survive? – by Nihar Gokhale (Catch News India – January 15, 2017)

January 16, 2017

http://www.catchnews.com/

There was a time when the road passing through Caurem would be lined with freshly plucked chillies, laid out on sheets by the side to dry in the sun. Later, they would be sold in small roadside shops or packed off in tempo vans to the nearest town market in Quepem, South Goa. And then there was mining.

This road through Caurem also leads to half a dozen iron ore mines. The story of mining in Goa, its rise through the 2000s to peak production in 2008-11, the ban on mining in 2012, and the slow resumption since the ban was lifted in 2014, mirrors the rise, fall and eventual rise of these chillies, which are native to the foothills of Western Ghats.

And now, as mining picks up again, will the Caurem chilly survive? Caurem is settled in an undulating landscape. There are step fields nearer to the road. Away from the road, the land starts climbing steeply, as thick forests of the Western Ghats take over. The chillies come in two varieties – the milder one grown in fields, while the hotter version is grown in the forests of the ghats.

Unearthing Water Risks of the Global Mining Industry – by Keith Schneider, Brett Walton, Codi Kozacek (Circle Of Blue.org – December 15, 2016)

January 16, 2017

Water Stress Is Factor in Global Mining Slump: Floods, dam failures, public opposition batter big hard rock mines

NEW YORK – In a disclosure that came as no surprise in Peru, a U.S. Securities and Exchange Commission filing by Newmont Mining Corporation reported last February that the big Colorado-based mineral developer was indefinitely suspending work on its mammoth Conga gold mine in the Andes mountains near Cajamarca.

Two months later the Goldman Environmental Foundation announced that one of the six winners of its annual Goldman Prize for environmental activism, among the world’s most prestigious public service awards, was Máxima Acuña, an Andes farmer and mine opposition leader.

The two events are closely tied together. In 2004, Newmont proposed to build the Conga mine not far from its existing Yanacocha copper and gold mine south of Cajamarca, which is the largest open pit gold mine in Latin America.