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New Prosperity will strengthen Williams Lake’s economy – by Kerry Cook (Vancouver Sun – July 29, 2013)

http://www.vancouversun.com/index.html

Kerry Cook is mayor of Williams Lake.

We are in the midst of a 30-day environmental assessment review panel hearing for the New Prosperity project, a copper and gold mine proposed by Taseko. This hearing will help the federal government determine the future fate of the project.

As local government we have a duty to seriously consider economic opportunities put before us. For us, New Prosperity presents an opportunity to strengthen the economic base of our region, provide new jobs and training opportunities.

The job potential is significant. Over the life of the New Prosperity mine, there will be 500 direct and 1,280 indirect jobs each year. We understand many industries are facing skill shortages. Taseko, however, has 1,400 active resumés on file. Now is the time to approve and build this project, which has the potential to expand our population base or offset downsizing in other sectors.

New workers will relocate here. This creates potentially hundreds of thousands of dollars in new wages, which will go into our local community each week, benefiting new and existing businesses. New Prosperity will also grow the local tax base, which in turn will support the development of amenities, along with recreation, education and health facilities.

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Mines on public land add $21bn to U.S. economy – DOI – by Dorothy Kosich (Mineweb.com – July 30, 2013)

http://www.mineweb.com/

As the manager of one-fifth of the U.S. landmass and 1.7 billion acres offshore, the U.S. Department of the Interior has resources to help the country produce more fossil fuels at home.

RENO (MINEWEB) – The U.S. Department of Interior (DOI) estimated Monday that federal public lands contributed $371 billion to the U.S. economy last year including $21 billion in hardrock mineral sales and employment of 111,000 persons.

At the end of FY2012, there were 406,140 active mining claims on public land, with about half of these claims located in Nevada.

“Most of the value associated with locatable mineral production is attributed to gold which is produced in significant quantities on public land,” said the report, The U.S. Department of the Interior Economic Report for Fiscal Year 2012. It is estimated that more than 3 million ounces of gold was produced from federal lands with the average price of gold in 2012 at $1,700 per ounce.

Domestic gold production last year was estimated to be 230 metric tons, down from 234 metric tons produced in 2011. The value of the U.S. gold mine production was about $12.6 billion, up from $71.8 billion in 2011, according to the Department of Interior.

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NEWS RELEASE: “When is a mine not a mine?” – IOC – Rio Tinto & IOC’s illegal mining activities the subject of a new lawsuit filed by Canadian Aboriginal group

UASHAT MAK MANI-UTENAM, QC, July 30, 2013 /PRNewswire/ – The Innu First Nation of Uashat Mak Mani-utenam filed another lawsuit on July 22, 2013, this time in Federal Court, in regard to Rio Tinto’s IOC mining project (in addition to the CAD$900 suit filed on March 18, 2013). While IOC (majority-owned by Rio Tinto) continues to violate the Canadian Aboriginal group’s rights, destroy their environment and intrude on their territory, IOC has announced that the company seeks to open a whole new mine (called Wabush 3) next to their current project in Western Labrador.

Not only would such a new mine be a clear violation of the Aboriginal group’s constitutionally protected and internationally recognized indigenous rights but, in addition, IOC is attempting to avoid an environmental assessment and review of the new mine. The Innu First Nation of Uashat Mak Mani-utenam had no other choice therefore but to file another lawsuit respecting IOC’s activities to attempt to stop such undermining of Canadian environmental laws.

“IOC has clearly become a rogue entity. Not only is IOC the only mining operator on the Uashat Mak Mani-utenam traditional territory without an agreement with our people (4 other agreements with other mining companies), but here it is involved with flagrantly violating Canadian environmental law in an attempt to push their new project through at any cost,” stated Mike McKenzie, Chief of the Innu First Nation of Uashat Mak Mani-utenam.

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Province still mum on OPG plant’s long-term future – by Carl Clutchey (Thunder Bay Chronicle-Journal – July 30, 2013)

Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Those arguing in favour of keeping Thunder Bay’s power station open say the coal-burning plant got a shot in the arm thanks to an Ontario Energy Board ruling which says it must run at least for the duration of 2013.

But the province is remaining coy about the Ontario Power Generation station’s long-term fate, saying a proposed conversion to natural gas is still undecided.

“We have a responsibility to wait for the full assessment by the Ontario Power Authority before making any final decision on (an) conversion,” Energy Ministry spokeswoman Beckie Codd-Downey said Monday in an email.

The decision by the OEB was applauded by the Common Voice Northwest Energy Task Force, which until recently felt like “a voice in the wilderness.” Northwest co-chairman Iain Angus said the OEB decision reflects what the task force has said all along — that the region’s demand for electricity could be seriously compromised if the Thunder Bay station is taken off line.

“Back in January, during the cold snap, it was running at 150 megawatts,” Angus noted. About 125 people work at the Mission Island station, which has a maximum capacity of just over 30 mw.

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Do we really need Keystone? As Obama dithers, Canada moves on other options – by Claudia Cattaneo (National Post – July 30, 2013)

The National Post is Canada’s second largest national paper.

President Obama’s latest smug comments on the Keystone XL oil sands pipeline suggest the Canadian project’s odds of being approved under his watch are waning.

Thankfully, Canada hasn’t stood still while the U.S. President dithered. So many new pipeline options have emerged that Keystone XL’s relevance is diminishing as each one gains momentum.

Sure, it will be hard to fill Keystone XL’s void and promise over the short term — perhaps a couple of years around 2016 and 2017 until new pipeline options are up and running.

But over the long-term, Canada is better off fast-tracking oil market diversification to global markets that are not beholden to U.S. anti-oil interests and that remain very motivated to buy Canadian supplies.

Two all-Canadian options — TransCanada’s Energy East project from Alberta to New Brunswick, and pipelines from Alberta to the West Coast — made big leaps forward in the past few days.

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Oilsands expansion raises red flags for regulators – by Gilliam Steward (Toronto Star – July 30, 2013)

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.

Regulators increasingly want governments to take more responsibility for oilsands projects and their consequences.

The proposed west-east oil pipeline is inching closer to reality. Last week the premiers discussed the feasibility of such a huge project at their annual get-together. And TransCanada Energy confirmed that it has already signed up major producers who want bitumen from the Alberta oilsands delivered to refineries as far afield as New Brunswick and possibly for export.

Meanwhile in Alberta, for the first time regulators have raised alarming red flags about the environmental impact of oilsands expansion and urged the federal and Alberta governments to step up their oversight of these enormous operations.

The strong words of warning came in a decision by a joint federal/provincial panel established to review an application by Shell Canada for expansion of its Jackpine bitumen mining operation about 70 kilometres north of Fort McMurray.

The proposal would increase production by a third to 300,000 barrels a day; tarry oil that needs the increased pipeline capacity that an east-west pipeline would provide if it is to reach refineries.

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Teck said to bid for Rio’s stake in Iron Ore Co. of Canada – by Matthew Campbell, Brett Foley and Liezel Hill (Bloomberg/Montreal Gazette – June 29, 2013)

 http://www.montrealgazette.com/index.html

TORONTO, VANCOUVER and LONDON (England) — Teck Resources Ltd., Canada’s second-biggest mining company, is among the remaining bidders for Rio Tinto Group’s controlling stake in Iron Ore Co. of Canada, according to a person familiar with the situation.

Rio may decide to keep its Iron Ore Co. stake after being disappointed with the bids it’s received so far, said the person, who asked not to be identified because the talks are private. While London-based Rio has considered selling the unit’s mining and infrastructure assets separately, it decided against the plan, the person said. Spokesmen for Teck and Rio and a spokeswoman for Iron Ore Co. declined to comment.

Buying Canada’s largest iron-ore producer would enable Vancouver-based Teck to diversify its production, which mostly comprises coal, copper and zinc. Rio’s 59 per cent stake in Iron Ore Co. may fetch as much as $3.5 billion, Crédit Suisse Group AG analysts said in a note in June.

An acquisition that size would be Teck’s largest since its C$10.4 billion ($10.1 billion) purchase of Fording Canadian Coal Trust in 2008, a deal completed just as commodity prices were beginning to plunge during the financial crisis. In 2009, Teck’s credit rating was cut to junk by Standard & Poor’s and the company sold a 17 per cent stake to China Investment Corp.

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Fostering awareness of the origins of minerals – by Terry Pender (Waterloo Record – July 29, 2013)

http://www.therecord.com/waterlooregion/

WATERLOO REGION — Kirsten Van Houten is helping people make the links between their smartphones and the brutal war ravaging the Democratic Republic of the Congo.

Van Houten is collecting signatures in support of the Just Minerals Campaign — a national effort to raise awareness of minerals that are mined in Africa and used in cellphones and computers. So far, she has collected more than 100 signatures.

The minerals are tin, tungsten, tantalum and gold. Van Houten and the Just Minerals Campaign are concerned about the supply chains for tech companies that start in Sudan, Uganda, Rwanda, Burundi, Tanzania and the Congo.

The Just Minerals Campaign is in support of New Democratic MP Paul Dewar’s private member’s bill called the Conflict Minerals Act. It is modelled on U.S. legislation that will require all companies to publicly report on the source of minerals used their products.

“We would like to indicate there is support in this community,” Van Houten said. “We would also like to create consumer awareness and create demand for a fair trade cellphone.” The young woman wrote her master’s thesis on the demand for small guns and light weapons in the Congo.

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COLUMN-Pain of drop in China coal imports isn’t evenly shared – by Clyde Russell (Reuters U.S. – July 29, 2013)

http://www.reuters.com/

Clyde Russell is a Reuters market analyst. The views expressed are his own.

LAUNCESTON, Australia, July 29 (Reuters) – The sharp drop in China’s coal imports in June helped to finally bring growth in imports closer to that for power output and was validation of the view that inbound cargoes had been unsustainably high.

While a pullback in imports had been expected for several months, the breakdown of the customs data shows the pain hasn’t been evenly spread amongst China’s major suppliers. Total imports in June were 18.037 million tonnes, down 22 percent from May and 19.6 percent from the same month a year earlier.

This was enough to drag the year-to-date growth in coal imports down to 13.9 percent in June from May’s 22.3 percent. The rate is also less than half the 28.7 percent jump in imports achieved in 2012 over 2011.

Part of the reason imports had been strong in the first five months of 2013 was that prices were competitive with domestic producers. Falling domestic prices as demand for power generation eased caught up with imports in June. But it’s not necessarily the higher-cost suppliers that are being squeezed out of the market.

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Barrick Goes Worst to First on Bets Gold Bottomed: Canada Credit – by Ari Altstedter (Bloomberg News – July 29, 2013)

http://www.businessweek.com/

Barrick Gold Corp. (ABX), the largest miner of the metal, has gone from the worst performer to the best among Canadian firms with U.S. dollar bonds, on bets gold prices have bottomed out after the biggest drop in 90 years.

Barrick bonds returned an average 3.2 percent this month, the most among the 50 largest issuers tracked by the Bank of America Merrill Lynch U.S. Corporate & Yankees Canadian Issuers Index. Barrick’s 5.25 percent notes due in April 2042 rose 5.1 percent in July, the biggest advance in the index. Last month the company’s debt was the biggest loser among the largest issuers on the index with a 10 percent decline, the data show.

Gold miners, including Goldcorp Inc. (G), the world’s biggest by market value, have announced at least $15 billion of writedowns in the past two months after the precious metal’s steepest quarterly drop in London trading in more than nine decades. The metal’s price has risen from almost a three-year low at the end of June, when Barrick announced it may write down as much as $5.5 billion.

“I think there’s a good chance we bottomed out,” said Scott MacDonald, who helps manage $600 million as head of research at MC Asset Management Holdings LLC in Stamford Connecticut. “You had a bubble in prices. You burst the bubble. Prices became more reasonable, and investors now feel the water is OK to go back in.”

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Lack of political leadership, bureaucratic infighting freeze Arctic plans: Report – by Lee Berthiaume (Windsor Star – July 29, 2013)

http://www.windsorstar.com/index.html

OTTAWA — The Conservative government’s plans for the Arctic are suffering because of bureaucratic infighting and a lack political leadership, a group of Defence Department advisers has concluded.

They also urged the Canadian military to reach out to both mining companies and Inuit communities as it looks to establish a more tangible presence in the North, saying such relationships can be financially beneficial.

Prime Minister Stephen Harper first announced in 2007 that his government would focus on ensuring sovereignty over the country’s vast Arctic territories, developing its abundant natural resource deposits, and improving the lives of those living there.

But the Defence Science Advisory Board wrote in an internal report published last year and obtained by Postmedia News that “frustration is often the predominant emotion” within federal departments when it comes to the Arctic. The advisory board is made up of academics, analysts and industry representatives who provide the department with advice.

The Department of Aboriginal Affairs and Northern Development is supposed to be the lead department on the Arctic, with other government departments and agencies supporting it in a variety of roles and areas.

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India eyes B.C.’s coal reserves as it ramps up steel production – by Gordon Hoekstra (Vancouver Sun – July 28, 2013)

http://www.vancouversun.com/index.html

Delegation meets with B.C.’s premier, new international trade minister

India wants to buy a bigger chunk of B.C.’s vast metallurgical coal reserves to feed its growing steel industry, a potential boost to the province’s No. 1 export business, worth $5.7 billion a year.

A high-level delegation led by India’s Steel Minister Beni Prasad Verma was in B.C. this month and met with Premier Christy Clark, International Trade Minister Teresa Wat and B.C. coal industry representatives.

The Indian government forecasts that by 2017 the country will need twice as much metallurgical coal. The additional 47 million tonnes of metallurgical coal India forecasts it’ll need every year is more than B.C.’s entire annual production of 24 million tonnes.

However, British Columbia sits on vast coal reserves of an estimated 13 billion tonnes with several proposed metallurgical coal mines in the environmental assessment process. Karina Brino, president of the Mining Association of B.C., said the province’s coal industry is paying close attention to the burgeoning Indian market.

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How rage over a Mexican mining tragedy has propelled a union leader’s book to the bestseller list – by Oakland Ross (Toronto Star – July 27, 2013)

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.

In Collapse of Dignity, Napoleon Gomez Urrutia reveals much about Mexico’s corrupt mining sector – but what about himself?

Will the real Napoleon Gomez Urrutia please stand up? About 66 years old and living in exile in Vancouver, the Mexican labour leader has trod many different paths during a long, eventful career, and now he has written a book about that journey.

Titled Collapse of Dignity: The Story of a Mining Tragedy and the Fight Against Greed and Corruption in Mexico, the densely written volume recently scaled its way into the Top 10 on The New York Times list of non-fiction bestsellers, an impressive achievement by any measure and all the more so in this case because a good deal of the book is at least somewhat fictitious.

It’s also pretty hard slogging for much of its 368-page length. Still, the good parts are engrossing, and they centre on a mining disaster – or, really, two mining disasters. One of these mishaps took place in northern Mexico, on Feb. 19, 2006, and it was an unmitigated catastrophe.

Sixty-five men lost their lives after a huge explosion hit the Pasta de Conchos coal mine in the early hours that day.

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Mugabe wants mining indigenisation without compensation – by Tawanda Karombo (South Africa Business Day – July 29, 2013)

http://www.bdlive.co.za/

HARARE — Indications that Zimbabwe’s contentious indigenisation policy will be changed to rule out compensation for expropriated stakes in mining companies have been buttressed by President Robert Mugabe during a campaign rally in the capital ahead of the country’s elections on Wednesday.

The empowerment policy, first promulgated in 2007 and forcibly implemented in the past two years, seeks to transfer majority control in foreign mining groups to black Zimbabwean groups.

However, where foreign mining companies would have received compensation for the 51% shares ceded to black Zimbabwean groups, they will now receive no monetary compensation, Mr Mugabe has said.

Impala Platinum, Anglo American Platinum and Aquarius Platinum are the major mining houses in the industry in Zimbabwe, which is home to the world’s second-largest platinum reserves. The country also has vast deposits of other minerals such as gold, nickel, diamonds and coal, which are being exploited by foreign companies that include New Dawn Mining, Mzi Khumalo’s Metallon Gold and Caledonia Mining Corporation.

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Women in Mining: Judy Baker – Challenges in junior exploration faced by both genders – by Lindsay Kelly (Northern Ontario Business – August 2013)

(L to R) Judy Bake, CEO Superior Copper Resources; Delio Tortosa, Geologist; Morgan Quinn, Geologist.

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.

http://www.superiorcopper.ca/

For Judy Baker, challenges in the junior exploration side of the mining industry aren’t necessarily linked to gender. It’s a formidable field that poses challenges for anyone who takes the work on. “The junior exploration and mining business is a tougher segment of the industry, because basically you’re taking the highest risk capital available to explore for mineral wealth, and the risk factor’s so high, it’s tough for anyone to be in, let alone women,” she said.

Baker, CEO at Superior Copper Resources, which is exploring at the former Coppercorp copper mine near Sault Ste. Marie, first developed an interest in the field while still in high school. Attending night courses in geology at Brock University, the theory of plate tectonics put forward by John Tuzo Wilson—the idea that the earth’s crust is comprised of a series of shifting plates—captured her interest and guided her into mining.

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