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CORRECTED-Gold, diamonds fuelling conflict in Central African Republic- U.N. panel – by Daniel Flynn (Reuters India – November 5, 2014)

 http://in.reuters.com/

DAKAR, Nov 4 (Reuters) – Gold and diamond sales are being used to finance conflict in Central African Republic and United Nations peacekeepers should monitor mining sites to clamp down on illicit trade, a U.N. panel of experts said.

In a report, the panel also said the peacekeeping mission (MINUSCA) should deploy troops to the remote north of the country and use drones to monitor the rebel-controlled region to put an end to simmering violence there.

The mission, which launched in September, is operating at only two-thirds of its planned 12,000-strong capacity.

Central African Republic was plunged into chaos when northern, mostly Muslim Seleka rebels seized control of the majority Christian country in March 2013, prompting a vicious backlash by the largely Christian ‘anti-balaka’ militia.

The panel said that some 3,000 people had been killed between December 2013 – when the U.N. Security Council imposed an arms embargo – and August this year. The number of civilian deaths was falling, however, the panel said.

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Vancouver and Calgary: A Tale of Two Cities – by Donald McInnes (Asian Pacific Post – November 4, 2014)

http://www.asianpacificpost.com/

Donald McInnes has an extensive background in mining and renewable energy ventures in BC and elsewhere. Based in Vancouver, he is a partner of Oxygen Capital Corporation.

Recently Canada 2020 hosted an event in Vancouver called “Cities as Nation Builders” featuring Mayors Robertson from Vancouver and Naheed Nenshi from Calgary. When I looked at the agenda I could not help consider the recent election advertisement of Mayor Robertson.

He demands on one hand that the Federal and Provincial governments help Vision Vancouver pay for and build a subway line to UBC and in the same breath says he must protect us from the Trans Mountain Pipeline.

Everyone in Canada knows that Alberta does not have a provincial sales tax, is near the top in spending more per capita on health care and education and spends more capita on infrastructure than every single other province. How do they do this? I take comfort that Calgarians know, love and celebrate that they are a service and supply centre for the oil patch which gives governments the ability to pay and provide.

By now most Vancouverites will have noticed the crane that was erected at the Seaspan Shipyard in North Vancouver. To me it’s a powerful symbol of economic prosperity and advancement for the province that come from natural resource development.

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Still no Ring of Fire plan, says fed finance minister – by Staff (Northern Ontario Business – November 4, 2014)

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.

Federal Finance Minister Joe Oliver says the Ontario government is causing delays in the federal government’s plan to devote nearly $11 billion to infrastructure investments in the province over the coming years, according to a Canadian Press story.

Oliver said Oct. 3 in Toronto that he was still waiting for the Liberal government to submit its list of preferred infrastructure projects under the Building Canada Plan, which is designed to give predictable long-term funding to provinces and territories.

In a speech at a public-private partnership conference, Oliver said provincial governments must submit their list of priority projects before the money can roll out as part of an 11-year funding plan.

“Unfortunately we are experiencing a delay under the provincial-territorial component of the Building Canada Plan,” he told the conference in Toronto. “The Government of Ontario has yet to put forward its submission. We hope to receive it soon.”

The federal government doesn’t have an official deadline for submissions, although Alberta, Nova Scotia, New Brunswick and Manitoba have put forth their lists of preferred projects.

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Howard Hampton to advise federal NDP on Ontario’s Ring of Fire – by Rosemary Barton (CBC News – November 04, 2014)

http://www.cbc.ca/news/politics

Success in northern Ontario important to federal NDP’s chances in 2015

In a bid to try and push ahead the ill-fated development of the Ring of Fire mining project in northern Ontario, the federal NDP is bringing a well-known Ontario face on board to help.

CBC News has learned federal New Democrat Leader Tom Mulcair will announce former Ontario NDP leader Howard Hampton as a special adviser for the party. Mulcair will make the announcement before the party’s weekly caucus meeting tomorrow.

Sources says Hampton will start working for the federal party immediately as a liaison on the complicated development file.

Hampton, who spent 24 years as a member of provincial Parliament, or MPP, for the northern Ontario provincial riding of Kenora-Rainy River, has experience at Queen’s Park, but has also worked extensively with First Nations communities in the region, as well as with mining companies.

As an adviser for the Official Opposition, Hampton will only be able to lay the groundwork for how and what the NDP would do if the party were to form the government after the next election. The appointment speaks to the party’s interest in the project. But it’s also about politics.

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The Stealth Element: How Mercury Became a Global Environmental Problem – by Gustavo A. B. da Fonseca (Huffington Post – November 3, 2014)

http://www.huffingtonpost.ca/

Gustavo A. B. da Fonseca is Director of Programs, Global Environment Facility.

I spent many fond moments as a child letting captive mercury droplets swirl from the palm of my hand to another as I waited for my father, a dentist, to finish working on his last patient of the day.

The element that goes by the symbol Hg in the periodic table of elements (from the Greek word hydrargyrum, or “liquid silver”) is still widely employed in fillings of dental cavities in the form of an amalgam with a blend of other metals. It has also found a breath of uses in the modern world including medicine, industrial manufacturing of chlorine, plastics, compact florescent lights and gold production.

It took a major calamity to wake society up to the health hazards brought about by the carefree use and handling of mercury. In 1956, at a remote fishing village of Japan, where a chemical plant was, for decades, dumping loads of mercury into the Minamata bay, the large-scale poisoning of people and animals was bought to the attention of the wider public.

Mercury bioaccumulates in the environment through the ingestion of food and water. Over time, the element then concentrates in individual organisms then through the contamination of their immediate environment. Described as the Minamata disease, this form of severe mercury poisoning is a debilitating neurological syndrome caused by the consumption of marine organisms heavily contaminated with mercury.

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Antarctic mining ban to be indefinite – by Cole Latimer (Australian Mining – November 3, 2014)

http://www.miningaustralia.com.au/home

A symposium on polar law has heard that mining will indefinitely be banned in the Antarctic region. The event, held in Hobart, saw the former head of the Australian Antarctic Division claim that the Antarctic Treaty – which bans mining in the region – will not be revised later this century, according to the ABC.

It comes as polar ice both in the Arctic and Antarctic regions begins to recede, opening up new regions for resources companies. While the Antarctic appears barren on the surface, below it stores an abundance of highly sought resources, including coal, iron ore, manganese, copper, lead, uranium and billions of barrels of oil reserves.

The resources are plentiful but they have been largely untouched as a result of an international peacekeeping agreement – the Antarctic Treaty System (ATS).

Established in 1961, the Treaty includes 12 original signatories, consisting of Australia, New Zealand, Japan, Argentina, Belgium, Chile, France, Norway, South Africa, Russia, the United Kingdom, and the United States, plus 28 other states that have ‘consultative party’ status, which allows them to vote on decisions concerning Antarctic administration.

Australia claims the majority of Antarctica, with the Australian Antarctic Territory covering 42 per cent of the continent. In 1991, nations of the Treaty agreed to ban the exploitation of minerals by signing a comprehensive Protocol on Environmental Protection (the Madrid Protocol).

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Russia’s Dependence on the West – by Grzegorz Kaliszuk (New Eastern Europe – November 3, 2014)

http://www.neweasterneurope.eu/

The conflict in eastern Ukraine, which has been lasting for nearly ten months, has had direct implications on the Russian economy. Foreign investments, as the best tool to integrate the world’s economies, are more and more often bypassing Russia. According to the Central Bank of Russia, the country is going to lose 90 billion US dollars of foreign investments as a result of the war.

The energy industry, which is the core of the Russian economy, is very close to the heart of the Kremlin. As a place where hundreds of different minerals are exploited every day, we generally associate the Russian energy industry with oil and natural gas. However, besides “black gold” and “blue fuel”, Russia’s coal mining is also a very significant part of its energy business. One-third of the world’s coal supplies are located in Russia, primarily in Siberia.

In 2012, the Russian Federation endorsed a long-term coal development programme. Its main aim is to increase Russia’s annual coal production to 430 million tonnes. The first step to success is its large coal reserve. The second are the specialised technologies which are usually purchased from other countries. The current level of exhaustion in the mining infrastructure shows an immediate upgrade is needed in up to 60 per cent of production sites (in 139 open-pit mines and in 93 underground mines).

The Russian coal industry is also a chance for the Polish economy. Until the end of the 1960s, Poland imported coal-mining technologies from Russia – now the boot is on the other foot and the Russian market is dominated by companies like Becker Mining Systems (Germany), Sandvik Mining Construction (Finland) and the export alliance of Czech Mining Technology.

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Steelworkers president optimistic for future of Wabush Mines – by Ty Dunham (St. John’s Telegram – November 4, 2014)

http://www.thetelegram.com/

Businesses and families are feeling the slowdown of the iron ore market, especially those affected by the idling of Wabush Mines in February.

The recent news of Cliff’s Natural Resources choosing to shut the mine down permanently after negotiations with potential buyer MFC Industrial fell through has prompted many to worry about their future in Wabush.

But MFC is continuing to explore options to take over the mine, which is why United Steelworkers (USW), Local 6285 president Jason Penney is remaining optimistic.

“From what we’ve been told, as royalty holders they have certain contractual rights, which will allow them to re-enter the plant,” explained Penney. He said it’s not a matter of if MFC reopens the mine, but when.

“MFC seems like a very solid and strong company. This is not their first rodeo. And they’re adamant that they’ll reopen the mine. We just

hope it can be done in a quick time frame.” While it isn’t the preferred route, Penney said it’s better than the alternative. “There’s no doubt we’re disappointed by the sale. This way will be longer. The important thing I want people to remember is all hope is not lost.”

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PRESS RELEASE: Northern Superior Resources Announces June 1, 2015 Trial Date for Litigation Against the Ontario Government

SUDBURY, ONTARIO, Nov 04, 2014 (Marketwired via COMTEX) — Northern Superior Resources Inc. (“Northern Superior” or the “Company”) (SUP) is pleased to provide the following update on the litigation proceedings against the Ontario Government concerning the Company’s Thorne Lake, Meston Lake and Rapson Bay properties.

— The Superior Court Judge overseeing the Company’s litigation against the Ontario Government has fixed June 1, 2015 as the trial date.
— Four weeks have been set aside for the trial.
— At the October 30, 2014 Case Conference, the sixth one in the case, Northern Superior proposed an aggressive timetable for getting the case
ready for trial, which after consideration by Ontario will be fixed by the Judge on November 7, 2014.
— The pre-trial steps agreed on include holding a mediation before an independent third party on or about February 1, 2015.

Dr. T.F. Morris President and CEO states: “I am obviously pleased that a fixed date for the trial has been set. This clearly provides some finality to what has been a long process. Northern Superior looks forward with confidence to the trial date.”

About Northern Superior Resources Inc.:

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Croteau Est property in Quebec. The Company has a number of 100% owned properties (see Company web site, www.nsuperior.com) in the Stull-Wunnumin and Chibougamau gold districts of Ontario and Quebec.

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Volatile gold prices may worsen N.A. miners’ ratings – by Dorothy Kosich (Mineweb.com – November 3, 2014)

http://www.mineweb.com/

S&P warns that if gold prices average about $1,100/oz in 2015, several N.A. gold producers may have their credit ratings downgraded.

RENO (MINEWEB) – While most Standard & Poor’s-rated North American gold producers are anticipated to maintain relatively stable credit profiles at $1,200/oz gold through 2015; if gold prices settle modestly below $1,200/oz, Allied Nevada Gold, Barrick Gold, Iamgold, Kinross Gold and Newmont Gold “are particularly vulnerable”.

“Specifically, we estimate that thse companies would breach the adjusted debt-to-EBITDA ratio, funds from operations (FFO)-to-debt ratio, or liquidity thresholds previously highlighted in the downside scenarios in our most recent research reports on each issuer,” said S&P in the new RatingsDirect report entitled: Will Falling Prices Tarnish North American Gold Producers Credit Quality?

Currently, S&P rates both Barrick and Newmont at ‘BBB’ with a “Negative” outlook, Kinross at a ‘BBB-’ with a “Stable” outlook, Iamgold with a ‘BB+’ with a “Watch Negative” outlook, and Allied Nevada at a ‘CCC+’ with a “Negative” outlook.

In an interview with Mineweb Friday, S&P primary credit analyst Jarrett Bilous observed, “We have a relatively stable gold price at $1,200 through 2015-16, and that incorporates our expectation for relatively modest US inflation below 2% through 2016.

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Germany’s Turn Against Coal Risks More Reliance on Russia – by Stefan Nicola, Tino Andresen and Brian Parkin (Bloomberg News – November 3, 2014)

http://www.bloomberg.com/

Germany is turning against coal as a fuel for generating electricity, a move that will boost the nation’s reliance on natural gas from Russia.

Alarmed that curtailing nuclear power has prompted utilities to burn the most coal in six years, Chancellor Angela Merkel’s government is working on a plan to reinforce Germany’s commitment to reduce fossil-fuel emissions. The Economy Ministry on Oct. 31 published a paper laying the groundwork for the most strict steps yet to limit coal in Europe.

The shift, if implemented, would force Germany to tap Russia for additional supplies, to import power from neighbors and to further subsidize renewables such as solar and wind. That would swell the country’s 100 billion-euro ($126 billion) annual fuel import bill and may raise the cost of electricity paid by consumers, already the second-highest in the European Union.

It would also run counter to efforts by the U.S. and EU to isolate Russia economically.

“The importance of gas, and with that the dependence on Russia, will increase,” said Guido Hoymann, an analyst at B. Metzler Seel Sohn & Co. KGaA. Cross-border exchanges of electricity also would rise, helping the nuclear plants just outside Germany’s border, he said.

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Ring of Fire development needs attention – by Carol Mulligan (Sudbury Star – November 4, 2014)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

The government of Ontario must stop stalling and get serious about bringing partners together to plan and build transportation infrastructure for the Ring of Fire.

Not one ounce of the estimated $60 billion worth of chromite and other minerals in this area of Northern Ontario can be mined until a transportation system and power grid are built. And that can’t start until the much-vaunted Ring of Fire Infrastructure Development Corp. is fully functioning.

A year ago, the province announced creation of the development corporation to design, engineer, construct and maintain transportation infrastructure for the Ring. Since then, the Liberals have re-announced it three times, the last when it was formally established in August with an interim board of four Ontario public servants.

The “mature” corporation is to be comprised of representatives from government, the mining sector, First Nations and other communities. So it was disappointing to learn four bureaucrats were the only appointees. First Nations leaders and mining company officials are furious about not being drawn into infrastructure talks after a year of dilly-dallying.

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Chinese unmoved by gold price drop, see it cheaper still – by A. Ananthalakshmi (Reuters U.S. – November 3, 2014)

http://www.reuters.com/

SINGAPORE – Nov 3 (Reuters) – Even with gold prices dropping to near 4-year lows, buyers in China – the world’s leading market – aren’t tempted, suggesting prices have further to fall.

When gold prices are in a slump, Chinese buyers, eyeing a bargain, traditionally move in and stop the rot. But that doesn’t seem to be happening this time around. The current market decline has seen the price of gold lose more than a third of its value in two years, to around $1,173 an ounce.

Unusually, prices on the Shanghai Gold Exchange, the world’s biggest platform for physical trade, are at a discount of around $1 an ounce to the global benchmark, slipping from premiums of $1-$2 an ounce last week. Since all physical gold trade in China goes through the exchange, it is seen as a reliable barometer of Chinese demand.

World gold prices are at their lowest since 2010 and slid $25 an ounce on Friday as the U.S. dollar strengthened, but Chinese buyers still aren’t biting, predicting prices have further to drop.

There is little sign of increased demand, dealers at importing banks in China and traders told Reuters on Monday, recalling how China led a rush to buy jewellery and gold bars and coins when prices slumped about $200 an ounce in two days last year.

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Ontario mining minister ‘startled’ by Ring of Fire criticism – by Lisa Wright (Toronto Star – November 4, 2014)

The Toronto Star has the largest circulation in Canada. The paper has an enormous impact on federal and Ontario politics as well as shaping public opinion.

Cliffs Natural Resources CEO ‘wrong’ to say Ring will never be developed, says Michael Gravelle.

Ontario’s mining minister says the province is “absolutely committed” to the Ring of Fire mining development despite recent criticism that the project will never get off the ground.

Lourenco Goncalves, the new chief executive of Cliffs Natural Resources, said last week that he thinks there is “zero hope” that a mine will ever be built in the rich mineral belt in the James Bay lowlands, after the Cleveland-based miner spent $500 million trying to tap into the vast chromite deposit and got nowhere.

Cliffs has the largest land position in the area but abandoned the region last winter citing red tape from the Ontario government and First Nations groups around building necessary transportation and power infrastructure. Cliffs’ assets are for sale but there have been no takers yet.

“I will admit I was startled by those comments,” Northern Development and Mines Minister Michael Gravelle said in an interview Monday. “I think he’s wrong. We all understand that this is a complicated project in a remote area of the province that has never been developed before,” he said.

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Sudbury’s Superstack could be coming down: Vale – by Carol Mulligan (Sudbury Star – November 4, 2014)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

A Sudbury landmark, rated 10 out of 45 attractions to see in the Nickel City, could be coming down, depending upon the result of an analysis by Vale Ltd. The mining company may decommission the 1,250-foot Superstack that has become synonymous with Sudbury’s regreening efforts.

It cost about $25 million to build the giant smokestack in the early 1970s to move sulphur dioxide emissions miles out of the Sudbury Basin where it was killing vegetation and polluting the air.

Because today’s mining processes produce so much less SO2, the Superstack may be superfluous and a much shorter stack could likely do the job.

Kelly Strong, vice-president of Vale’s Ontario and United Kingdom operations, made the announcement about the Superstack study at a noon luncheon Monday of the Greater Sudbury Chamber of Commerce.

No business person asked questions of Strong, not even about the Superstack, when Strong finished his 25-minute presentation to 260 people. Strong told reporters after the luncheon that talk of disposing of the giant stack is bound to create a buzz in the community.

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