ROB MAGAZINE: How Lundin CEO Marie Inkster plans to change mining’s bad reputation – by Trevor Cole (Globe and Mail – April 23, 2019)

April 23, 2019 in Canada Mining, Canadian Media Resource Articles, Women in Mining

https://www.theglobeandmail.com/

Inkster opens up about her reluctance to take the top job and how she hopes to change the industry’s reputation

Based on the career of Marie Inkster, someone looking for adventure in business might want to consider accounting. Once a CA with Deloitte Canada, Inkster went to work for Geac Computer Corp. in the late 1990s.

When her boss left for Nortel, Inkster smartly decided not to join her. Instead, in 2002, she found herself in the three-person office of LionOre, being lured into a life in mining. Soon she was travelling the world. By 2009 she was CFO at Lundin Mining, a rising mid-tier miner run by the audacious Lukas Lundin, and walking through the Congolese jungle.

She orchestrated Lundin’s 2014 acquisition of the Candelaria Copper Mining Complex in Chile, raising $2.2 billion and nearly doubling the size of the company. In October of last year, Inkster replaced Paul Conibear as CEO. Continue Reading →

Inside Australia’s deepest gold mine — how deep can history go at Gwalia? – by Jarrod Lucas (Australian Broadcasting Corporation – April 21, 2019)

April 23, 2019 in Australia/New Caledonia/Papua New Guinea Mining, Gold and Silver, International Media Resource Articles

https://www.abc.net.au/

A truck driver working at the bottom of Australia’s deepest gold mine gets loaded up with about 55 tonnes of precious cargo — hard rock blasted from the Earth and containing small specks of the yellow metal.

For every tonne trucks cart to the surface there might be only seven grams of gold, the equivalent of about one teaspoon. Driving at the speed limit of 30 kilometres an hour, it takes drivers just under two hours to make their way to the surface to dump their load and head back down.

This is Gwalia in Western Australia’s remote northern Goldfields. Today, it is the deepest trucking mine in the world and can trace its history back to the 1890s when former US president Herbert Hoover was mine manager. Continue Reading →

Opinion: Trump’s EPA wants to put a toxic mine in pristine Alaska. What could go wrong? – by Kim Heacox (The Guardian – April 22, 2019)

April 23, 2019 in Alaska Mining, International Media Resource Articles, Mining Conflict and Opposition, Mining Environmental Accidents, Pollution, Tailing Dams and Abandoned Mines

https://www.theguardian.com/

Pebble Mine is just the latest story of greedy men exploiting nature for profit, and leaving us with the nasty side-effects

Back in my youth, while in Montana, I came across Berkeley Pit, called “the richest hill on earth.” There, churches and historic neighborhoods were bulldozed to expand the pit so greedy men could make their fortunes mining copper, silver and gold.

After the riches were extracted, and problems arose, those men absolved themselves of any wrongdoing, and left. Over time, the mine closed and the pit began to fill with an acidic brew so toxic that when snow geese landed there, they died.

As it threatened Montana’s groundwater, the pit became an Environmental Protection Agency (EPA) superfund site that would cost American taxpayers billions of dollars for generations. Continue Reading →

‘Wounded bulls’ remain nervous as oil prices rally ahead of earnings season – by Geoffrey Morgan (Financial Post – April 23, 2019)

April 23, 2019 in Canadian Media Resource Articles, Oil and Gas Sector-Politics and Image

https://business.financialpost.com/

CALGARY — Despite a rapid spike in oil prices, investors are watching the rally from the sidelines as they ponder whether to jump in amid a broad rally in global energy stocks, led by the Canadian energy index.

“This is definitely not a crowded trade,” said Michael Tran, RBC Capital Markets managing director, global energy strategy, about rising crude prices.

Unlike the latter half of 2018, when bets that global oil prices would rise outnumbered short contracts by nine to one, funds are being more conservative during the current oil price rally. Tran said the number of long contracts for crude currently outnumber the shorts by just four to one. Continue Reading →

Beware Of Gold’s Move To $1,250, All Eyes On U.S. GDP Figure Next Week – by Anna Golubova (Kitco News – April 18, 2019)

April 18, 2019 in Canadian Media Resource Articles, Gold and Silver

https://www.kitco.com/

(Kitco News) – Raging risk-on sentiment continues to keep gold prices down and analysts are worried that things could get worse before they get better.

Gold prices struggled through a major sell-off this week, falling 1.4% and touching a four-month low. June Comex gold was trading flat on the day on Thursday, last seen at $1,275.20.

Better-than-expected retail sales played a significant role, revealing improved consumer sentiment, with the best results since September 2017. Continue Reading →

NEWS RELEASE: Newmont and Goldcorp Successfully Create World’s Leading Gold Company (April 18, 2019)

April 18, 2019 in Canada Mining, Gold and Silver, Goldcorp Inc., Newmont, United States Mining

DENVER–(BUSINESS WIRE)–Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced the successful conclusion of its transaction combining Newmont Mining Corporation and Goldcorp Inc. to form the world’s leading gold business.

The resulting company features an unmatched portfolio of assets, prospects and talent. This portfolio includes long-life operations and profitable expansion and exploration options in some of the world’s most favorable mining jurisdictions. Newmont Goldcorp will also offer investors the highest annual dividend and the largest Reserves and Resources per share among senior gold producers.

“We’ve met our goal to become the world’s leading gold business, and we’ll maintain that position by executing our winning strategy,” said Gary J. Goldberg, Chief Executive Officer. “That strategy focuses on constantly improving safety and efficiency at our current operations while we continue to invest in expansions and exploration to fuel next generation production. An equally important part of that strategy is to meet stakeholders’ expectations by continuing to lead the sector in value creation and sustainability performance.” Continue Reading →

Thunder Bay: Project to build permanent road to northern Ontario First Nation ‘the right move’ chief says – by Matt Prokopchuk (CBC News Thunder Bay – April 18, 2019)

April 18, 2019 in Aboriginal and Inuit Mining and Oil/Gas, Canadian Media Resource Articles, Mining Railway, Road and Other Infrastructure, Ontario Mining, Ontario’s Ring of Fire Mineral Discovery

https://www.cbc.ca/

The chief of a northern Ontario First Nation says an ongoing project to build an all-season road to the community will help in many ways.

Marten Falls, which is about 300 kilometres northeast of Thunder Bay, is in the midst of the provincial environmental assessment process to construct a thoroughfare that will link the remote First Nation to the provincial highway system north of Nakina.

“There’s a lot of socio-economic benefits that would derive from having an all-weather road to the community,” said Chief Bruce Achneepineskum, adding that those would include lowering the cost of freight, making it easier for community members to travel and better positioning the First Nation to take advantage of various economic development opportunities in the forestry, mining and tourism sectors. Continue Reading →

[Newfoundland] Valentine mine takes another step – by Barb Sweet (St. John’s Telegram – April 18, 2019)

April 18, 2019 in Canadian Media Resource Articles, Gold and Silver, Newfoundland and Labrador Mining

https://www.thetelegram.com/

Central Newfoundland mine proposal registered for environmental assessment

It’s a gold reserve glittering with job potential but the proposed Valentine gold mine in central Newfoundland is several years away. The undertaking was registered this week for environmental assessment under the provincial Environmental Protection Act.

Marathon Gold Corp. is the Toronto-based gold exploration company proposing to develop the gold mine roughly 55 kilometres southwest of Millertown in central Newfoundland. The net present value of the project is about $500 million USD.

“It’s a major gold deposit, certainly the largest in Newfoundland and Atlantic Canada and it really stands out as one of the top projects in North America,” president and CEO Phillip Walford said in a telephone interview from Toronto Wednesday. Continue Reading →

Zimbabwe attracts two new investors to develop platinum mining projects (Reuters U.S. – April 17, 2019)

April 18, 2019 in Africa Mining, International Media Resource Articles, Platinum Group Metals

https://www.reuters.com/

MHONDORO-NGEZI, Zimbabwe (Reuters) – Zimbabwe will in coming weeks name two new investors who will develop separate platinum mining projects west of the capital as the country ramps up mining output in an attempt to ease a severe dollar shortage, the mines minister said on Wednesday

The southern African nation has the second largest platinum deposits after South Africa and hopes to transform its economy by boosting investment in the mining sector.

Winston Chitando said the two investors would be confirmed in the next few weeks, joining a sector where Anglo American Platinum and Impala Platinum already operate. Continue Reading →

Mick Davis Moves Closer to Iron Ore Mining With Liberian Deal – by Thomas Biesheuvel (Bloomberg News – April 18, 2019)

April 18, 2019 in Africa Mining, International Media Resource Articles, Iron Ore

https://www.bloomberg.com/

Mining dealmaker Mick Davis has won permission to export iron ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback.

Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron ore from the mine that he’s seeking to build in neighboring Guinea, according to a statement.

The Zogota project, where mining giant Vale SA has already spent hundreds of millions of dollars, could be brought on quickly and relatively cheaply. Continue Reading →

CLIMATE CHANGE THREATENS ICE ROADS. SATELLITES COULD HELP – by Nick Stockton (Wired Magazine – April 18, 2019)

April 18, 2019 in Canada Mining – North of 60, Canadian Regional Media and Web Publications, Diamond Mining, Mining Railway, Road and Other Infrastructure

https://www.wired.com/

FOR A FEW months each winter, Canada’s Tibbitt to Contwoyto Winter Road is the world’s longest ice highway, a 300-plus-mile network of frozen lakes that connects lucrative diamond mines in Canada’s Northwest Territories to supplies from the nation’s not-quite-so-far north.

But warmer winters and earlier springs have shortened the road’s open season by up to two weeks over the past decade. The loss of the road for even such a short time is very expensive, because the only other way to reach these mines is by air.

Salvation may come from space. A Canadian researcher has demonstrated that radar emitted from satellites can peer through the ice, determining not just its thickness but also its quality. (Does it have a lot of bubbles? Continue Reading →

How Bill C-69 could escalate regulatory costs until projects become unworkable – by Jack Mintz (Financial Post – April 18, 2019)

April 18, 2019 in Canadian Media Resource Articles, Climate Change, Carbon Taxes and ENGOs, Oil and Gas Sector-Politics and Image

https://business.financialpost.com/

As the Senate continues its hearings on Bill C-69, it might be useful to focus on what is claimed to be the objective of the new environmental and regulatory approval act: A fairer, faster regulatory system.

Calgary’s National Energy Board will become a less-powerful Canadian Energy Regulator while an Ottawa-based body, the Impact Assessment Agency, will provide final advice to the government to determine whether a project is in the “public interest.”

The new legislation is ostensibly intended to reduce delays for federal approval of resource projects while providing greater political acceptability. It is hard to see how that will be case. Continue Reading →

Majority of B2Gold’s mines outperform guidance in strong first quarter – by Nadine James (MiningWeekly.com – April 18,2019)

April 18, 2019 in Canada Mining, Canadian Media Resource Articles, Gold and Silver

https://m.miningweekly.com/

SX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold.

The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines, having produced 6% and 15% above guidance, respectively.

The consolidated gold revenue of $302-million generated for the sale of 232 076 oz of gold at an average price of $1 300/oz was lower than the $344-million in revenue generated from the sale of 259 837 oz at an average price of $1 325/oz in the first quarter of 2018. Continue Reading →

EDITORIAL: Support mines that support Nunavummiut (Nunavut News – April 17, 2019)

April 18, 2019 in Canada Mining – North of 60, Canadian/International Media Resource Articles

Nunavut News

Whether you notice it or not in your daily life, all reports show a glittering economic forecast for Nunavut. Speaking at the Nunavut Mining Symposium, Bank of Canada governor Stephen Poloz noted that the territory is set for the strongest growth among all territories and provinces for 2019, at a rate of nine per cent.

“That’s pretty spectacular stuff,” Poloz said. “That’s not some fiction, that’s real.” Nunavut’s senior economist Francois Picotte piled on the good news, noting the territory will see very high growth for the next four years.

All of this is thanks to mining, which is becoming such an economic force in Nunavut that it will surpass even government in its weight in the territorial economy. Continue Reading →

UPDATE 1-Liberia, Guinean iron venture sign outline export deal – by Barbara Lewis and Saliou Samb (Reuters Africa – April 18, 2019)

April 18, 2019 in Africa Mining, International Media Resource Articles, Iron Ore

https://af.reuters.com/

LONDON/CONAKRY, April 18 (Reuters) – Liberia has signed an outline deal with a new venture set up to mine iron ore in Guinea to be shipped via Liberia, an export route the Guinean government has vetoed for the much larger Simandou project.

The Zogota iron ore project in Guinea is being developed by former Xstrata boss Mick Davis through his Niron Metals venture and marks a relaunch of his mining career.

Following a pledge on economic cooperation by the presidents of Guinea and Liberia at the start of the month in Dakar, an announcement on Thursday in London said the Liberian government and Niron Metals had signed a memorandum of understanding on the passage through Liberia of iron ore from the Zogota deposit. Continue Reading →