Twitter

Gold mine with history of contaminating B.C. creek fined $276K – by Betsy Trumpener (CBC News British Columbia – March 15, 2024)

https://www.cbc.ca/news/canada/british-columbia/

Barkerville Gold Mines’ penalty reduced in part because of COVID restrictions on business: report

A gold mining company that discharged contaminants into a B.C. creek more than a thousand times since 2017 has now been fined over $275,000 for its most recent violations of environmental rules, according to a March 2024 report from the Ministry of Environment and Climate Change Strategy.

Barkerville Gold Mines, owned by Osisko Development since 2019, operates two gold mines and a processing mill east of Quesnel, B.C., in the mountainous Cariboo region about 440 kilometres north of Vancouver. The environmental violations took place at its underground Bonanza Ledge gold mine.

Read more

US to Offer Record Loan for Lithium Americas Project in Nevada – by Ari Natter (Bloomberg News – March 13, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — The Biden administration is offering a $2.26 billion loan to help Lithium Americas Corp. develop a Nevada lithium deposit that’s the country’s largest.

The conditional loan from the US Department of Energy will provide the vast majority of the capital needed to fund the first phase of development, the Vancouver-based company said in a statement Thursday, confirming an earlier Bloomberg News report. Shares of Lithium Americas jumped 28% in New York trading and 18% in Toronto as of 9:32 a.m.

Read more

Did Idris Elba’s ‘Goldfather’ video boost gold prices? – by Terence Corcoran (Financial Post – March 15, 2024)


https://financialpost.com/

Price of gold hitting records but likely more due to central bank stockpiling than film star’s documentary

For several months a one-hour video starring charismatic film and television star Idris Elba has been heavily circulated via YouTube. Titled “Gold: A Journey with Idris Elba,” the documentary-style production never made it to the Oscars for obvious reasons.

Funded by the World Gold Council, the production is a professionally-produced vehicle that clearly aims to portray the gold council’s corporate members — from Canada’s Agnico-Eagle and Barrick Resources to China’s Shandong Gold Group — as leaders of a wondrous industry producing a dazzling product that glitters around the world.

Read more

Sudbury developer to test mine former INCO property – by Ian Ross (Northern Ontario Business – March 13, 2024)

https://www.northernontariobusiness.com/

Magna Mining moves into advanced exploration at Crean Hill Project

Magna Mining, a home-grown Sudbury mine developer, is putting the paperwork in place to test mine a former INCO mine. The company said it filed an amended closure plan for its Crean Hill Project with the provincial mines ministry in late February.

This opens the door for Magna to begin an advanced exploration program that will shape the project’s economics and life of mine. Crean Hill is located in the southwest corner of the Sudbury basin. Under the Inco flag, it ran from 1900 to 2002. Magna acquired the asset from Vale in November 2022 and put 19,000 metres of drilling into the property last year.

Read more

Federal budget may include legislative changes to streamline environmental regulation on large resource projects – by Niall McGee (Globe and Mail – March 13, 2024)

https://www.theglobeandmail.com/

Federal Natural Resources Minister Jonathan Wilkinson says legislative changes in response to the Supreme Court of Canada’s ruling last year that curtailed Ottawa’s powers to regulate resource projects could come in next month’s budget.

Last October, the court ruled that the federal government doesn’t have nearly as much jurisdiction to regulate resource projects as it assumed it had under the Constitution. Currently, mines, oil and gas projects and pipelines are regulated based on a roughly 50/50 split between the federal government and the provinces through two separate and often overlapping processes.

Read more

Limited refining capacity in Canada an obstacle for net zero mining: KPMG – by Bruno Venditti (Northern Miner – March 11, 2024)

https://www.northernminer.com/

Few Canadian mining leaders have committed to full carbon emission reductions by 2050, according to a survey by KPMG. The survey conducted last month with 75 mining company decision-makers found that only 23% have made formal commitments to achieve all scope-related carbon emission reductions by 2050 or earlier,

About a quarter have not yet made formal commitments but are actively developing emission reduction plans. Moreover, 10% lack both ESG and carbon reduction strategies, while 7% either do not intend to implement such strategies or face challenges in reducing emissions at present.

Read more

Remediation project at Long Lake gold mine expected to finally begin to clean up arsenic tailings – by Angela Gemmill (CTV News Northern Ontario – March 13, 2024)

https://northernontario.ctvnews.ca/

An environmental cleanup project is expected to finally get going in Sudbury this year. It was in 2015 when arsenic was discovered in an old gold mine site near the extreme western part of Long Lake, but several delays prevented the project from moving forward until now.

The two tailings ponds above the glory hole are what will be remediated. “What they’re doing is scraping all of the tailings together and putting them together into a compound,” chair of the Long Lake Stewardship Committee, Scott Darling explained.

Read more

Mind The Gap: A Failure Of Communication In Mining – by Alp Bora (Forbes Magazine – February 13, 2024)

 

https://www.forbes.com/

Often, the stories we tell ourselves have the greatest impact on the decisions we make. For example, the story we hear about mining is often inherently bad. This can lead to mining projects being halted or opposed.

I believe it is easy to dismiss mining when most of the world lives far from the resources it consumes, but this narrative takes for granted the quality of life mining provides and, more importantly, the potential it gives for a sustainable future.

Read more

African Development Bank chief criticizes opaque loans tied to Africa’s natural resources – by Taiwo Adebayo (Associated Press – March 12, 2024)

https://apnews.com/

LAGOS, Nigeria (AP) — The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical minerals used in smartphones and electric car batteries, deals that have helped China gain control over mineral mining in places like Congo and have left some African countries in financial crisis.

“They are just bad, first and foremost, because you can’t price the assets properly,” Akinwumi Adesina said in an interview with The Associated Press in Lagos, Nigeria, last week. “If you have minerals or oil under the ground, how do you come up with a price for a long-term contract? It’s a challenge.”

Read more

Canada, U.S. governments reach deal to address cross-border coal pollution – by Wendy Stueck (Globe and Mail – March 11, 2024)

https://www.theglobeandmail.com/

The Canadian and U.S. governments have agreed to put the issue of cross-border pollution from B.C. coal mines before the International Joint Commission, a body set up more than a century ago to resolve conflicts over shared waters.

The request, made through what is known as a joint reference under the Boundary Waters Treaty of 1909, follows years of campaigning by Indigenous peoples and was developed with the Ktunaxa Nation, an Indigenous people whose traditional territory takes in parts of British Columbia, Montana and Idaho.

Read more

Strolling down Ontario’s Electric Avenue – by Tamer Elbokl, PhD (Canadian Mining Journal – March 4, 2024)

https://www.canadianminingjournal.com/

The global demand for lithium is projected to reach 1.5 million tonnes of lithium carbonate equivalent (LCE) by 2025 and over three million tonnes by 2030. As the world moves away from fossil fuels, the world needs a stable supply of quality lithium to achieve a low-carbon future, and Canada needs lithium (among other critical minerals) to achieve its net-zero target.

In 2022, the government of Ontario announced its first critical minerals strategy, aiming to secure the province’s position as a global leader of responsibly sourced critical minerals, including lithium. The provincial government plan is to work alongside all stakeholders including the federal government, the mining sector, manufacturing Indigenous Peoples, and local communities.

Read more

Argonaut Gold digs into its ramp-up problems at Dubreuilville – by Ian Ross (Northern Ontario Business – March 7, 2024)

https://www.northernontariobusiness.com/

Magino Mine team looks to get open-pit mine and mill up to speed

A 35 per cent selloff of Argonaut Gold stock last week took CEO Richard Young by surprise. A less-than-stellar performance since the start of mining at Argonaut’s Magino Mine, outside Dubreuilville, hasn’t exactly resonated with investors as the Toronto gold company’s stock has plunged from a high of 72 cents a share last August to 28 cents this week.

The open-pit mine and mill operation has been hampered by a number of start-up issues that’s driven up costs and has the Toronto gold company looking to finance its US$128.7-million debt.

Read more

PDAC 2024: Some junior miners must die so others may live, panel says – by Alisha Hiyate (Northern Miner – March 8, 2024)

https://www.northernminer.com/

Canada’s once-mighty junior mining sector crumbled after governments squeezed the middle class and let multinationals buy the country’s big miners, a panel of finance experts told mining’s biggest conference this week.

Large Canadian miners such as Falconbridge, Inco and Noranda (all gone by 2007) would use much as $200 million each a year to shepherd perhaps 100 junior level companies because they made half of the discoveries, Franco-Nevada (TSX: FNV; NYSE: FNV) co-founder Pierre Lassonde said on a panel at the Prospectors and Developers of Association of Canada convention in Toronto on Tuesday.

Read more

Four Questions the US Must Answer on Diamond Sanctions – by Joshua Freedman (Rapaport Magazine – March 10, 2024)

Home

A broader US ban on Russian diamonds went into effect on March 1, but uncertainty remains about key details.

Sanctions on Russian diamonds and diamond jewelry went into effect on March 1 across Group of Seven (G7) nations, expanding the ban to 1-carat and larger polished stones manufactured in a third country from Russian rough. Previously, goods “substantially transformed” (i.e., manufactured) in countries such as India were technically legal in the US. The US and other member countries have released information on how enforcement will work, but many questions remain.

US Customs and Border Protection has ordered importers to use a self-certification statement declaring that the diamonds are not Russian. This is likely a temporary measure while US authorities devise a way to enforce the rules.

Read more

Green premium won’t save Australian nickel – by Elouise Fowler (Australian Financial Review – March 10, 2024)

https://www.afr.com/

The boss of acquisitive copper producer Metals Acquisition says the nickel market has “fundamentally shifted” and it is unlikely the world’s largest buyer, China, will pay a “green premium” for the commodity.

Even if nickel miners could fetch a green premium, it may not be enough to make nickel mined outside Indonesia attractive, said Mick McMullen, who is scouring the globe for mines to add to his portfolio.Indonesian nickel has flooded the market, crashing the price of the metal required for steel-making and batteries.

Read more