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Canadian miners accused of indirectly supporting Wagner Group in Mali – by Geoffrey York (Globe and Mail – December 12, 2023)

https://www.theglobeandmail.com/

Three Canadian mining companies in Mali are indirectly helping its government finance the cost of Russian mercenaries who have been implicated in massacres and other atrocities in the country, a new report says.

Mali’s military junta, which came to power in a series of coups in 2020 and 2021, is paying a reported US$10-million a month to the Wagner Group, a Russian military contractor, in exchange for the deployment of an estimated 1,000 soldiers in the West African country.

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BHP issues dire warning on nickel mines – by Brad Thompson and Peter Ker (Australian Financial Review – December 15, 2023)

https://www.afr.com/

The overhaul of the Albanese government’s critical minerals strategy offers no relief to the besieged nickel industry, which faces further job losses at BHP-owned mines.

BHP said its Nickel West business was not immune to the challenges suffocating the sector where some mines have shut down, and fellow producer Panoramic Resources was tipped into administration this week. Nickel West asset president Jessica Farrell said uncertainty had swept through the Australian nickel industry.

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US Sanctions Russian Metals Magnate Sviblov and Gold, Zinc Firms – by Jack Farchy (Bloomberg News – December 12, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — The US imposed sanctions on Russian mining magnate Vladislav Sviblov and several mining companies connected to him, including one that’s developing one of the world’s largest zinc mines.

The sanctions are the latest move against the Russian metals and mining sector, and come after the UK imposed sanctions against Sviblov last month. Sviblov emerged as a significant player in the Russian metals scene in recent years, buying up several mid-sized gold companies, as well as building what was set to be one of the world’s largest zinc mines at Ozernoye in Siberia.

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Newbies to Superior’s north shore can help fill the ranks of the mining industry – by Austin Campbell (Northern Ontario Business – December 11, 2023)

https://www.northernontariobusiness.com/

Confederation College’s Mining Potential program will offer free entry-level training for newcomers, women, youth

A new program is opening doors for underrepresented groups in the Marathon area of northwestern Ontario. Confederation College, in partnership with Northwest Employment Works, is offering a free training opportunity aimed specifically at women, youth, and newcomers to the mining industry.

The Mining Potential program focuses on developing learners’ non-technical skills, knowledge, and confidence in order to achieve meaningful employment, with the ultimate goal being to provide employers with a safe and well-educated workforce to draw from.

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Barrick gets go ahead for Goldrush mine ramp-up – by Cecilia Jamasmie (Mining.com – December 11, 2023)

https://www.mining.com/

Canada’s Barrick Gold (TSX: ABX) (NYSE: GOLD) said on Monday that the US Bureau of Land Management has approved the company’s plan of operations for its Goldrush underground mine at the Cortez Complex near Beowawe, Nevada.

The gold operation, run by Barrick’s JV with Newmont (NYSE: NEM) Nevada Gold Mines (NGM), is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure. The mine is expected to generate 130,000 ounces of gold in 2024 and grow to about 400,000 ounces of the precious metal per annum by 2028.

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Conflict-weary DR Congo votes on December 20: A guide to the election – by Lorraine Mallinder (Al Jazeera – December 7, 2023)

https://www.aljazeera.com/

As the mineral-rich DR Congo prepares to vote for a new president this December, opponents are already crying foul.

Tensions are rising in the Democratic Republic of the Congo as it prepares for presidential and parliamentary elections while struggling to contain myriad armed groups wreaking havoc in the mineral-rich east.

The nation of about 100 million people is a battleground for more than 120 groups fighting for land and resources, some reportedly backed by or intervening in neighbouring countries, such as Angola, Burundi, the Central African Republic, Uganda and Rwanda.

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How to detox coal country – by Kate Morgan (Vox.com – December 11, 2023)

https://www.vox.com/

To clean up poisoned streams, Appalachian researchers are turning acid mine drainage into something unexpected.

The most striking thing about the water tumbling out of the ground behind a small cluster of houses in southeastern Ohio isn’t the smell — a sharp, unmistakable sulfur. It’s also not the color, a vibrant red-orange. The weirdest thing about the Truetown Discharge is the silence.

Just before dark on a warm autumn night, there should be a cacophony of crickets and cicadas in the tall grass along the water. Frogs should be singing and splashing into the shallows. Bats should be circling, owls calling, small mammals and salamanders skittering in the leaves.

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The World’s Copper Supply Is Suddenly Looking Scarce – by Thomas Biesheuvel (Bloomberg News – December 11, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — A forecast surplus of copper going into 2024 has suddenly all but disappeared. The next couple of years were supposed to be a time of plenty for copper, thanks to a series of big new projects starting up around the world.

The expectation across most of the industry was for a comfortable surplus before the market tightens again later this decade, when surging demand for electric vehicles and renewable energy infrastructure is expected to collide with a lack of new mines.

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China uranium grab poses threat to western energy supply, warns Yellow Cake – by Harry Dempsey (Financial Times – December 9, 2023)

https://www.ft.com/

Prices of nuclear commodity at 15-year high as governments scramble to secure sources of fuel for power stations

China is making an aggressive push to tie up global uranium supply amid a worldwide rush to secure nuclear fuel, warned the boss of Yellow Cake, a London-listed investment vehicle for the radioactive commodity.

André Liebenberg, chief executive of the Aim-traded company, said the west was lagging behind in securing uranium after prices hit a 15-year high and as Chinese firms purchase supplies on the open market, sign long-term contracts and buy up mines.

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G7 to sanction Russian diamonds as of January – by LAURA HÜLSEMANN AND BARBARA MOENS (Politico EU – December 6, 2023)

https://www.politico.eu/

Russian diamonds are one of the last resources not sanctioned by the G7, meaning the profits from selling them can go into the Kremlin’s war chest.

G7 leaders on Wednesday agreed to impose a direct import ban on Russian diamonds as of January, while introducing a tracing system for diamonds during next year.

Russian diamonds are one of the last resources not sanctioned by the G7, meaning the profits from selling them can go into the Kremlin’s war chest.

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‘A decade of free money’ is why the price of gold has continued to rise, says Mark Bristow – by Naimul Karim (Financial Post – December 11, 2023)

https://financialpost.com/

Barrick CEO expects the demand for gold to continue increasing

The recent rise of gold to a record US$2,135 per ounce has led to much discussion of the reasons behind the metal’s positive run during the past few years, from central banks investing more in bullion to expectations of rate cuts next year.

Mark Bristow, chief executive of Barrick Gold Corp., the world’s second-largest gold producer, expects the demand for gold to continue increasing, so he’s been looking to expand the company’s reserves. But, according to him, a “decade of free money” is a key reason why the price of gold has continued to rise over the past five years.

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Mining claims have jumped 30% in northern Ontario’s Ring of Fire area since 2022 – by Sarah Law (CBC News Thunder Bay – December 11, 2023)

https://www.cbc.ca/news/canada/thunder-bay/

More than 31,000 mining claims are now registered in the area, data shows

Mining claims staked in northern Ontario’s Ring of Fire area have risen by 30 per cent since last year, according to online mining data from the provincial government. The crescent-shaped mineral deposit in the James Bay lowlands has been eyed as a critical source for Ontario’s burgeoning electric vehicle battery industry for years.

But surrounding First Nations say there hasn’t been proper consultation about mining projects on their territories. A number of rallies have been held at Queen’s Park in Toronto this year by members of the First Nations Land Defence Alliance, calling out the province’s free-entry mining system and demanding a meeting with Premier Doug Ford.

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Thermal coal prices diverge as Japan, South Korea buy more, China, India less – by Clyde Russell (Reuters – December 11, 2023)

https://www.reuters.com/

LAUNCESTON, Australia, Dec 11 (Reuters) – The prices of differing grades of seaborne thermal coal in Asia are diverging as strong demand for high-quality fuel coal by Japan and South Korea drives a rally, but lacklustre imports by China and India mean lower grades stagnate.

Japan and South Korea are the main buyers of thermal coal linked to the Newcastle Index, which assesses coal with an energy content of 6,000 kilocalories per kilogram (kcal/kg) from Australia, the world’s second-largest exporter of the power station fuel.

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Northwestern Ontario lithium miner paints a picture to production – by Ian Ross (Northern Ontario Business – December 7, 2023)

https://www.northernontariobusiness.com/

Green Technology Metals meets with strategic investors to fund $1.2-billion lithium development

A key economic study posted this week by Australia’s Green Technology Metals “validates” their potential to become a large-scale lithium player in northwestern Ontario and Canada. With a proposed two-mine lithium operation valued at $1.2 billion in the works, the hunt is on to secure both private and government funding to make the mines and a Thunder Bay lithium refinery a reality.

Green Tech gave investors and stakeholders a better idea of what their mining and processing operations could look like with the release of a preliminary economic assessment (PEA), Dec. 7.

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The gold market has a big hill to climb as prices lose 3% after hitting all-time highs – by Neils Christensen (Kitco News – December 08, 2023)

https://www.kitco.com/

(Kitco News) – According to some analysts, next week will be an important test for the gold market as a hawkish Fed could put downward pressure on a market that is already sensitive following Monday’s blow-off top.

After hitting a record high around $2,150 an ounce at the start of the week, gold prices are heading into the weekend down more than 3%, testing critical support just above $2,010 an ounce. With a $141 swing this week, the gold market saw the most volatility since mid-August 2020, just after gold established its previous record high.

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